Role Overview
APA Life Assurance Company Ltd is seeking a Head of Financial Reporting. The role is responsible for overseeing the financial reporting functions, regulatory compliance, statutory reporting, and financial planning support. The position leads financial reporting teams to produce accurate and timely financial statements in line with IFRS, regulatory standards, and internal control frameworks.
Key Responsibilities
Financial Reporting
- Oversee the preparation of monthly, quarterly, and annual financial statements in accordance with IFRS and company policies in conjunction with the Actuarial function.
- Ensure timely completion of month-end, quarter-end, and year-end close processes.
- Review general ledger balances and ensure the accuracy and completeness of accounting records ensuring all accounting entries, accruals, provisions, prepayments, and adjustments are properly recorded and supported.
- Prepare management accounts and financial performance reports for Executive Management and the Board.
- Monitor financial performance against budgets, forecasts, and prior periods and provide explanations for variances.
Regulatory and Statutory Reporting
- Coordinate the preparation and submission of regulatory returns to the Insurance Regulatory Authority and other statutory bodies.
- Ensure compliance with IFRS, Companies Act requirements, tax legislation, and other applicable regulations while overseeing preparation of annual statutory FS and disclosures.
- Coordinate annual external audits and ensure timely resolution of audit findings.
- Drive continuous improvement initiatives aimed at enhancing financial controls and reporting efficiency.
- Monitor changes in accounting standards and regulatory requirements and coordinate implementation activities.
Budgeting and Financial Planning Support
- Support the budgeting, forecasting, and long-term business strategy planning processes.
- Provide financial analysis and reporting support to business units and management.
- Assist in the development of financial models and scenario analysis to support strategic initiatives.
Stakeholder and Audit Management
- Act as the primary liaison for external auditors, internal auditors, tax authorities, and regulators on financial reporting matters.
- Provide financial information and explanations required during audits and regulatory reviews.
- Collaborate with actuarial, treasury, operations, underwriting, and investment teams to ensure completeness and accuracy of financial information.
Leadership and Team Management
- Provide leadership and direction to the team.
- Develop staff capabilities through coaching, mentoring, and training initiatives.
- Foster a culture of accountability, compliance, and high performance within the department.
Academic Qualifications
- Bachelor's degree in Accounting, Finance, Economics, or related field.
- Master's degree in Finance, Accounting, or Business Administration is an added advantage.
Professional Qualifications
- CPA(K), ACCA or equivalent professional qualification is mandatory.
Experience & Skills Required
- Minimum of 8–10 years of progressive finance experience with at least 3 years in a management position.
- Experience within a Life insurance company is preferred.
- Strong knowledge of IFRS, particularly IFRS 17 and IFRS 9.
- Experience in statutory reporting, audit management, and regulatory reporting.
- Strong understanding of financial controls, taxation, and financial systems.
- Financial Reporting and Technical Accounting Expertise.
- Analytical and Problem-Solving Skills.
- Leadership and People Management.
- Communication and Presentation Skills.
- Time Management and Delivery.
How to Apply
Interested and qualified candidates should apply by visiting APA Life Assurance Company Ltd Application or visiting www.apainsurance.org.
