Chief Finance Officer (CFO)
2025-05-14T07:51:46+00:00
Takaful Insurance
https://cdn.greatugandajobs.com/jsjobsdata/data/employer/comp_8308/logo/takaful.png
https://itc.ac.ug/event/takaful
FULL_TIME
Kampala
Kampala
00256
Uganda
Insurance
Accounting & Finance
2025-05-21T17:00:00+00:00
Uganda
8
CHIEF FINANCE OFFICER (CFO) Position Description Job Title: Chief Finance Officer (CFO) Reports To: Chief Executive Officer (CEO) Location: Kampala Industry: Insurance About the Client The Client is the first and only provider of Sharia-compliant insurance solutions in Uganda, offering a comprehensive suite of Takaful products Job Purpose The Client is seeking a highly experienced Chief Finance Officer (CFO) to lead and oversee all financial operations of the company in accordance with Sharia principles. The CFO will be a key member of the executive leadership team, contributing to the overall strategic direction of the organization. This role requires a deep understanding of Islamic finance and Takaful principles, strong financial acumen, exceptional leadership skills, and the ability to drive financial performance and sustainable growth within an ethical and Sharia-compliant framework. The CFO will be responsible for developing and executing financial strategies, managing financial risks in a Sharia-compliant manner, ensuring compliance with both regulatory and Sharia requirements, and providing insightful financial analysis to support decision-making. Responsibilities Financial Strategy and Planning (Sharia-Compliant) • Develop and implement the company's overall financial strategy, aligning with its business objectives, Sharia principles, and the guidance of the Sharia Supervisory Board. • Lead the annual budgeting and forecasting processes, ensuring accuracy and alignment with strategic goals and Sharia compliance. • Develop long-term financial plans and models to support strategic initiatives and capital allocation decisions, adhering to Islamic finance principles. • Provide strategic financial insights and recommendations to the CEO and the executive leadership team, ensuring Sharia compliance in all financial matters. Financial Reporting and Accounting (Sharia-Compliant) • Ensure compliance with statutory provisions in respect of financial reporting, taxation and other statutory payments. • Ensure expenses are fully paid and properly accounted for in accordance with company procedures/guidelines and ensure that approved signed mandates are complied with. • Supervise the preparation of year-end financial reports and statements in compliance with financial reporting and Sharia standards. • Maintain financial records and reports in accordance with the various statutory and compliance obligations. • Ensure reconciliations are properly and promptly done. Page 2 of 3 JOB DESCRIPTION • Oversee the preparation and analysis of accurate and timely financial statements in accordance with relevant accounting standards and Sharia-compliant accounting practices. • Maintain financial records and reports in accordance with the various statutory and company obligations. • Provide insightful financial analysis and reporting to management, the board of directors, and regulatory authorities, highlighting Sharia compliance. • Ensure the integrity and accuracy of all financial data and reporting systems, adhering to Sharia guidelines on transparency and disclosure. Risk Management and Compliance (Sharia-Compliant) • Identify, assess, and mitigate financial risks in accordance with Sharia principles, including managing the Takaful fund and participant contributions ethically. • Ensure compliance with all relevant insurance regulations, accounting standards, tax laws in Uganda, and the rulings of the Sharia Supervisory Board. • Develop and maintain strong internal controls that are consistent with Sharia principles and safeguard company assets and participant contributions. • Manage relationships with external auditors and regulatory bodies, including those overseeing Islamic finance. Investment Management (Sharia-Compliant) • Oversee the company's investment portfolio, ensuring all investments are Shariacompliant and aligned with investment policies approved by the Sharia Supervisory Board. • Develop and implement Sharia-compliant investment strategies to optimize returns while adhering to ethical investment guidelines. • Monitor investment performance and provide regular reports to the board and management, highlighting Sharia compliance. Takaful Fund Management • Oversee the management of the Takaful fund in accordance with the chosen Takaful model (e.g., Wakala, Mudharaba) and the guidelines of the Sharia Supervisory Board. • Ensure the appropriate allocation of surplus and deficit within the Takaful fund as per Sharia principles. • Maintain transparency and accountability in the management of participant contributions. Capital Management (Sharia-Compliant) • Manage the company's capital structure and ensure adequate capital levels to support business growth and regulatory requirements, adhering to Sharia principles on permissible capital structures. • Develop and execute capital planning strategies that are consistent with Islamic finance guidelines. Relationship with Sharia Supervisory Board • Serve as the primary point of contact for the Sharia Supervisory Board on all financial matters. Page 3 of 3 JOB DESCRIPTION • Ensure that all financial policies, procedures, and transactions are reviewed and approved by the Sharia Supervisory Board. • Facilitate the provision of necessary financial information and reports to the Sharia Supervisory Board. Leadership and Team Management • Lead and mentor the finance department, fostering a high-performing and collaborative team environment that understands and respects Sharia principles. • Set clear objectives, provide regular feedback, and support the professional development of team members, including training on Islamic finance. • Promote a culture of financial accountability, transparency, and Sharia compliance throughout the organization. Stakeholder Management • Build and maintain strong relationships with external stakeholders, including banks, regulatory authorities. • Represent the company in financial discussions and negotiations, ensuring adherence to Sharia guidelines. Person Specification Education, Training, Skills & Experience Education, Experience & Qualifications • A recognized relevant University degree • Must be a member of the Institute of Certified Public Accountants • At least four (4) years’ working experience as an accountant • In-depth knowledge of the Ugandan insurance market, regulatory environment, and industry best practices. • Strong understanding of Islamic finance principles, particularly Takaful models and Sharia compliance requirements. Characteristics • Strategic thinker with excellent interpersonal & communication skills • Strong financial acumen and analytical skills. • Ability to build relationships with stakeholders at all levels. • Demonstrated ability to lead and inspire a diverse team. • Sound decision-making and problem-solving ability
Financial Strategy and Planning (Sharia-Compliant) • Develop and implement the company's overall financial strategy, aligning with its business objectives, Sharia principles, and the guidance of the Sharia Supervisory Board. • Lead the annual budgeting and forecasting processes, ensuring accuracy and alignment with strategic goals and Sharia compliance. • Develop long-term financial plans and models to support strategic initiatives and capital allocation decisions, adhering to Islamic finance principles. • Provide strategic financial insights and recommendations to the CEO and the executive leadership team, ensuring Sharia compliance in all financial matters. Financial Reporting and Accounting (Sharia-Compliant) • Ensure compliance with statutory provisions in respect of financial reporting, taxation and other statutory payments. • Ensure expenses are fully paid and properly accounted for in accordance with company procedures/guidelines and ensure that approved signed mandates are complied with. • Supervise the preparation of year-end financial reports and statements in compliance with financial reporting and Sharia standards. • Maintain financial records and reports in accordance with the various statutory and compliance obligations. • Ensure reconciliations are properly and promptly done Oversee the preparation and analysis of accurate and timely financial statements in accordance with relevant accounting standards and Sharia-compliant accounting practices. • Maintain financial records and reports in accordance with the various statutory and company obligations. • Provide insightful financial analysis and reporting to management, the board of directors, and regulatory authorities, highlighting Sharia compliance. • Ensure the integrity and accuracy of all financial data and reporting systems, adhering to Sharia guidelines on transparency and disclosure. Risk Management and Compliance (Sharia-Compliant) • Identify, assess, and mitigate financial risks in accordance with Sharia principles, including managing the Takaful fund and participant contributions ethically. • Ensure compliance with all relevant insurance regulations, accounting standards, tax laws in Uganda, and the rulings of the Sharia Supervisory Board. • Develop and maintain strong internal controls that are consistent with Sharia principles and safeguard company assets and participant contributions. • Manage relationships with external auditors and regulatory bodies, including those overseeing Islamic finance. Investment Management (Sharia-Compliant) • Oversee the company's investment portfolio, ensuring all investments are Shariacompliant and aligned with investment policies approved by the Sharia Supervisory Board. • Develop and implement Sharia-compliant investment strategies to optimize returns while adhering to ethical investment guidelines. • Monitor investment performance and provide regular reports to the board and management, highlighting Sharia compliance. Takaful Fund Management • Oversee the management of the Takaful fund in accordance with the chosen Takaful model (e.g., Wakala, Mudharaba) and the guidelines of the Sharia Supervisory Board. • Ensure the appropriate allocation of surplus and deficit within the Takaful fund as per Sharia principles. • Maintain transparency and accountability in the management of participant contributions. Capital Management (Sharia-Compliant) • Manage the company's capital structure and ensure adequate capital levels to support business growth and regulatory requirements, adhering to Sharia principles on permissible capital structures. • Develop and execute capital planning strategies that are consistent with Islamic finance guidelines. Relationship with Sharia Supervisory Board • Serve as the primary point of contact for the Sharia Supervisory Board on all financial matters. • Ensure that all financial policies, procedures, and transactions are reviewed and approved by the Sharia Supervisory Board. • Facilitate the provision of necessary financial information and reports to the Sharia Supervisory Board. Leadership and Team Management • Lead and mentor the finance department, fostering a high-performing and collaborative team environment that understands and respects Sharia principles. • Set clear objectives, provide regular feedback, and support the professional development of team members, including training on Islamic finance. • Promote a culture of financial accountability, transparency, and Sharia compliance throughout the organization. Stakeholder Management • Build and maintain strong relationships with external stakeholders, including banks, regulatory authorities. • Represent the company in financial discussions and negotiations, ensuring adherence to Sharia guidelines.
Strategic thinker with excellent interpersonal & communication skills • Strong financial acumen and analytical skills. • Ability to build relationships with stakeholders at all levels. • Demonstrated ability to lead and inspire a diverse team. • Sound decision-making and problem-solving abilities.
A recognized relevant University degree • Must be a member of the Institute of Certified Public Accountants • At least four (4) years’ working experience as an accountant • In-depth knowledge of the Ugandan insurance market, regulatory environment, and industry best practices. • Strong understanding of Islamic finance principles, particularly Takaful models and Sharia compliance requirements.
JOB-68244b92ec744
Vacancy title:
Chief Finance Officer (CFO)
[Type: FULL_TIME, Industry: Insurance, Category: Accounting & Finance]
Jobs at:
Takaful Insurance
Deadline of this Job:
Wednesday, May 21 2025
Duty Station:
Kampala | Kampala | Uganda
Summary
Date Posted: Wednesday, May 14 2025, Base Salary: Not Disclosed
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JOB DETAILS:
CHIEF FINANCE OFFICER (CFO) Position Description Job Title: Chief Finance Officer (CFO) Reports To: Chief Executive Officer (CEO) Location: Kampala Industry: Insurance About the Client The Client is the first and only provider of Sharia-compliant insurance solutions in Uganda, offering a comprehensive suite of Takaful products Job Purpose The Client is seeking a highly experienced Chief Finance Officer (CFO) to lead and oversee all financial operations of the company in accordance with Sharia principles. The CFO will be a key member of the executive leadership team, contributing to the overall strategic direction of the organization. This role requires a deep understanding of Islamic finance and Takaful principles, strong financial acumen, exceptional leadership skills, and the ability to drive financial performance and sustainable growth within an ethical and Sharia-compliant framework. The CFO will be responsible for developing and executing financial strategies, managing financial risks in a Sharia-compliant manner, ensuring compliance with both regulatory and Sharia requirements, and providing insightful financial analysis to support decision-making. Responsibilities Financial Strategy and Planning (Sharia-Compliant) • Develop and implement the company's overall financial strategy, aligning with its business objectives, Sharia principles, and the guidance of the Sharia Supervisory Board. • Lead the annual budgeting and forecasting processes, ensuring accuracy and alignment with strategic goals and Sharia compliance. • Develop long-term financial plans and models to support strategic initiatives and capital allocation decisions, adhering to Islamic finance principles. • Provide strategic financial insights and recommendations to the CEO and the executive leadership team, ensuring Sharia compliance in all financial matters. Financial Reporting and Accounting (Sharia-Compliant) • Ensure compliance with statutory provisions in respect of financial reporting, taxation and other statutory payments. • Ensure expenses are fully paid and properly accounted for in accordance with company procedures/guidelines and ensure that approved signed mandates are complied with. • Supervise the preparation of year-end financial reports and statements in compliance with financial reporting and Sharia standards. • Maintain financial records and reports in accordance with the various statutory and compliance obligations. • Ensure reconciliations are properly and promptly done. Page 2 of 3 JOB DESCRIPTION • Oversee the preparation and analysis of accurate and timely financial statements in accordance with relevant accounting standards and Sharia-compliant accounting practices. • Maintain financial records and reports in accordance with the various statutory and company obligations. • Provide insightful financial analysis and reporting to management, the board of directors, and regulatory authorities, highlighting Sharia compliance. • Ensure the integrity and accuracy of all financial data and reporting systems, adhering to Sharia guidelines on transparency and disclosure. Risk Management and Compliance (Sharia-Compliant) • Identify, assess, and mitigate financial risks in accordance with Sharia principles, including managing the Takaful fund and participant contributions ethically. • Ensure compliance with all relevant insurance regulations, accounting standards, tax laws in Uganda, and the rulings of the Sharia Supervisory Board. • Develop and maintain strong internal controls that are consistent with Sharia principles and safeguard company assets and participant contributions. • Manage relationships with external auditors and regulatory bodies, including those overseeing Islamic finance. Investment Management (Sharia-Compliant) • Oversee the company's investment portfolio, ensuring all investments are Shariacompliant and aligned with investment policies approved by the Sharia Supervisory Board. • Develop and implement Sharia-compliant investment strategies to optimize returns while adhering to ethical investment guidelines. • Monitor investment performance and provide regular reports to the board and management, highlighting Sharia compliance. Takaful Fund Management • Oversee the management of the Takaful fund in accordance with the chosen Takaful model (e.g., Wakala, Mudharaba) and the guidelines of the Sharia Supervisory Board. • Ensure the appropriate allocation of surplus and deficit within the Takaful fund as per Sharia principles. • Maintain transparency and accountability in the management of participant contributions. Capital Management (Sharia-Compliant) • Manage the company's capital structure and ensure adequate capital levels to support business growth and regulatory requirements, adhering to Sharia principles on permissible capital structures. • Develop and execute capital planning strategies that are consistent with Islamic finance guidelines. Relationship with Sharia Supervisory Board • Serve as the primary point of contact for the Sharia Supervisory Board on all financial matters. Page 3 of 3 JOB DESCRIPTION • Ensure that all financial policies, procedures, and transactions are reviewed and approved by the Sharia Supervisory Board. • Facilitate the provision of necessary financial information and reports to the Sharia Supervisory Board. Leadership and Team Management • Lead and mentor the finance department, fostering a high-performing and collaborative team environment that understands and respects Sharia principles. • Set clear objectives, provide regular feedback, and support the professional development of team members, including training on Islamic finance. • Promote a culture of financial accountability, transparency, and Sharia compliance throughout the organization. Stakeholder Management • Build and maintain strong relationships with external stakeholders, including banks, regulatory authorities. • Represent the company in financial discussions and negotiations, ensuring adherence to Sharia guidelines. Person Specification Education, Training, Skills & Experience Education, Experience & Qualifications • A recognized relevant University degree • Must be a member of the Institute of Certified Public Accountants • At least four (4) years’ working experience as an accountant • In-depth knowledge of the Ugandan insurance market, regulatory environment, and industry best practices. • Strong understanding of Islamic finance principles, particularly Takaful models and Sharia compliance requirements. Characteristics • Strategic thinker with excellent interpersonal & communication skills • Strong financial acumen and analytical skills. • Ability to build relationships with stakeholders at all levels. • Demonstrated ability to lead and inspire a diverse team. • Sound decision-making and problem-solving ability
Work Hours: 8
Experience in Months: 48
Level of Education: bachelor degree
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