Chief Finance Officer Job at BK General Insurance Company Limited - Career Opportunity in Rwanda

Vacancy title:
Chief Finance Officer

Jobs at:
BK General Insurance Company Limited

Deadline of this Job:
15th June 2018

Duty Station:
Kigali, Rwanda

BK General Insurance Company Limited is an Insurance Company that was registered and licensed in 2016 to offer None-Life/General Insurance business services to existing and prospective customers. The company is a subsidiary of Bank of Kigali, the biggest Bank in Rwanda.
Since its inception, BK General Insurance has shaped steadily well in the Market with meaningful growth through acquisition of a sizeable customer base, accumulated strong liquidity levels, big solvency ratio and profitable margins that indicate sustainable growth potentials all just happening in a space of just close to 2 Years.
As such, in order to lay down clear structures and formidable resources to steer and sustain that growth, BK General Insurance would like to recruit High Profile Candidates who fulfill the Job Profiles below;

Chief Finance Officer: CFO
The Position reports to the Chief Executive Officer.

Essential Duties and Responsibilities:
Development of strategic Management Accounting

  • Produce timely and accurate reports for all levels of Management, the Board and Regulators
  • Responsible for the ledger, trial balance, all reconciliations, creditors/debtors and management of suppliers.
  • Preparation of Budget commentaries, strategy reports, Revenue & Expense reports.
  • Preparation of half year and annual briefing reports.
  • Developing, updating & implementation of finance process and procedure manuals and identifying and managing risks within the finance department.
  • Supervision of payroll reconciliation.
  •  Strong participation in the formulation of overall strategic direction of the Company.
  • Preparation of Capital Expenditure budget.
  • Engage in continuous cost management analysis in all operations of the company.
  • Review the performance of competitors and report on key issues to management.
  •  Determining what information is needed by management and explaining numbers to non-financial managers and advising managers about the financial implications of their operations.
  • Participate in target cost activities in support function roles in the shared services model.
  • Compile key business metrics and report there on to management.
  • Preparation and monitoring of cash flow forecasts.
  • Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements, pay dividends, creditors and suppliers as well investing excess funds.
  • Production of key balance sheet reports including ratios analysis, capital maintenance analysis, and movement/analytical reviews.
  • Production of annual report
  • Attending to auditors and taxation issues.
  • Assist in performing all tasks necessary to achieve the organization's mission and help execute growth plans.
  • Train the Finance Unit and other staff on raising awareness and knowledge of financial management matters.
  • Work with the CEO on the strategic vision including fostering and cultivating stakeholder relationships, as well as assisting in the development and negotiation of contracts.
  • Participate in developing new business,
  • Assess the benefits of all prospective contracts and advise the Executive Team on design and implementation matters.
  •  Ensure adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent audits.
  • Provide the core units with an operating budget.
  • Oversee the management and coordination of all fiscal reporting activities for the company including: organizational revenue/expense and balance sheet reports
  • Oversee all purchasing and payroll activity.
  • Develop and maintain systems of internal controls to safeguard financial assets of the Company.
  • Oversee the coordination and activities of independent auditors
  • Monitor banking activities of the Company.
  • Ensure adequate cash flow to meet the Company's needs.
  • Oversee administration and financial reporting of the Company.
  • Oversee the production of monthly reports including financial statements and cash flow projections for use by Executive Management, as well as the Audit/Finance/Investment Committees and Board of Directors.
  • Assist in the design, implementation, and timely calculations of wage incentives, commissions and salaries for the staff.
  • Oversee Accounts Payable and Accounts Receivable
  • Oversee the maintenance of the inventory of all fixed assets, assuring all are in accordance with accounting regulations.

Required Skills and Qualities

  • Ability to create and assess financial statements and budget documents.
  • Capacity to recognize the value of Shareholders and generation of return on their investment.
  • Ability to supervise staff, including regular progress reviews and plans for improvement.
  • Ability to understand IFRS Based reporting requirements and accounting.
  • Understand economic indicators, market dynamics & interpret performance metrics.
  • Ability to work independently with minimum supervision
  • Good interpersonal skills and confidence in decision making
  • Good leadership, communication, and networking skills
  • Ability to prioritize and self-manage workload for self and staff
  • Ability to work in a fast-paced environment and provide good customer care services
  • Fluent in English. Knowledge of French and Kinyarwanda would be an advantage.

Education & Experience

  • Having a Bachelor's or a Master's Degree in Finance or Accounting
  • Must have an ACCA from a recognized Institute.
  • Should have been Chief Finance Officer, Chief Accountant or Financial Controller in a big Insurance Company with experience of at least 4 Years
  • Finance and Management experience with the day-to-day financial operations of an Insurance Company are compulsory.
  • Nationals & Non-Nationals of age between 30-45 Years are only eligible to apply.

Job application procedure
Candidates who fulfill the requirements are requested to submit an Application Letter indicating the position applied for, a signed CV, Copies of Academic and Professional Certificates and a Copy of ID or PP to email:  or submit hard copies to BK General Insurance Head Office not later than 15th June 2018.

Job Info
Job Category: Accounting/ Finance jobs in Rwanda
Job Type: Full-time
Deadline of this Job: 15th June 2018
Duty Station: Kigali, Rwanda
Posted: 29-05-2018
No of Jobs: 1
Start Publishing: 29-05-2018
Stop Publishing (Put date of 2030): 29-05-2060
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