Background

This is a leadership role within the insurance sector, focusing on financial strategy and operations.

Key Responsibilities

Strategic

• Provide leadership in the development of JLICU's continuous evaluation of short and long-term strategic financial objectives with supporting financial analysis and evaluation.
• Ensure JLICU's financial benchmarks and targets are in line with Group standards and communicated and implemented across all JLICU's business lines and branches.
• Provide leadership and coordination of JLICU's Budget process and ensure the budgets are financially reasonable and reflect the strategic initiatives of the Group.
• Provide financial direction on potential M&A or country expansion activities, or major Board initiatives, including the preparation of business plans and budgets for potential new operations.
• Provide financial expertise and insights to support strategic decision-making and communicate financial performance and risks.
• Work closely with the Asset Management Company, coordinating the investment strategy of JLICU to optimize returns and monitor and manage Asset and Liability matching.
• Foster strong relationships with banks, financial institutions, and rating agencies to optimize financial partnerships and enhance the company's reputation.

Accounting

• Ensure that JLICU is able to implement new accounting standards, including IFRS 17, on a timely basis and that actions to minimize impacts are anticipated through detailed analysis.
• Agree and evaluate targets (budget and performance) to steer and motivate the department according to agreed performance management and budget targets.
• Coordinate with the Internal Audit team to ensure a transparent and objective review of all points raised through the internal audit process, and coordinate with the finance team to ensure all internal audit matters are satisfactorily cleared in a timely manner.
• Oversee the activity of the external auditors and actuary for JLICU in collaboration with the respective HODs.
• Coordinate with the internal and external actuary to ensure timely completion of statutory valuation and reserve calculations and additional projects as required.

Controlling and Reporting

• Oversee and deliver the annual audited financial statements and annual report of JLICU.
• Review and analyze financial data and performance against plan and industry performance, including profit & loss statements, capital investment, budget allocation, cash flow forecasting and asset-liability management.
• Enhance the utilization and proper functioning of the integrated financial and management information systems (OFA).
• Advise and be a point of reference for the CEO and Board of Directors on all financial matters which impact JLICU.
• Ensure timely delivery of reports required by regulatory and industry bodies.
• Establish and maintain the financial business plan for the subsidiary, including the expense budget, and monitor variances between budget and actual performances so that corrective measures can be taken to minimize expense over-runs where required.
• Maintain effective models of the business to support the business planning process.
• Implement systems to enable management of expenses and capital needs within budget.
• Establish and maintain effective financial controls, policies, and procedures to ensure accuracy, integrity, and compliance.

Company Life Brand

• Ensure effective public relations and enhance the company's corporate image with all stakeholders and partners.

Compliance

• Stay updated on finance-related industry regulations, compliance requirements, and best practices.
• Adhere to the laws and regulations of Uganda, the policies and regulations within the insurance industry, and all internal company policies and procedures.
• Ensure compliance with applicable statutory and regulatory requirements and establish mitigation measures against emerging business risks.
• Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.

Leadership and People

• Provide the transformational leadership needed to meet and surpass the expectations of stakeholders.
• Provide leadership to the team and build know-how and knowledge sharing to create efficiencies and synergies.
• Build relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.
• Foster a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment for attracting, retaining, and motivating employees.
• Build the team and ensure adequate succession planning throughout the organization.
• Ensure adequate recruitment and development of finance staff so that the Life Company has appropriately qualified and experienced staff; provide annual and half-year performance evaluations and agree and monitor areas for improvement.
• Conduct regular team meetings and training sessions to enhance skills and knowledge related to financial reporting and industry trends.

Key Deliverables for this Position

• Oversee the investment of cash and near-cash funds of JLICU, including active participation in the JLICU Investment Committee.
• Work closely with the Head of IT to ensure that backbone infrastructure and business & financial operating systems are operating properly and in line with current IT developments and business trends; provide business case and support for all capital expenditures over set limits for approval to the Board Finance Committee.
• Set and constantly update financial controlling and reporting standards in Company Life while supporting the business to achieve targeted growth and profitability.
• Ensure the financial stability of the organization and solvency of the subsidiary through accurate reporting and developing standards of financial performance in the accounting and finance areas, including coordination with the internal and external actuary and active participation in all subsidiary Audit Committees.

Education & Requirements

Education

Masters degree in Finance, Business Administration, Strategy, or a related field.

Additional Details

Financial Responsibility

Trading Result and Budget (TBC — figures to be confirmed with client)

Education & Training

Academic Qualifications

• Master's Degree in Finance, Business Administration, Strategy, or any other related field.
• Bachelor's Degree in Finance/Business-related fields.

Professional Qualifications

• CPA-K/ACCA qualification or equivalent.

Skills & Experience

Relevant Experience

• Minimum of 10 years of experience in Finance.
• Experience operating in complex business environments and/or regulated sectors, with the personal qualities to develop strong stakeholder relationships.
• Demonstrated ‘best in class’ knowledge of technology, change, process improvement and operational management in relevant businesses.
• Experience in financial planning, budgeting, forecasting, financial analysis, and financial reporting within the insurance industry.
• Experience building high-performing teams, fostering a culture of collaboration, and providing guidance and mentorship to finance professionals.

Functional Skills

• Market intelligence and operation.
• Risk and insurance programming.
• Macroeconomics.
• Business strategy formulation.
• Business planning and implementation.
• Change management.
• Market operation.
• Financial planning, analysis, and forecasting.
• Financial reporting and regulatory compliance.
• Risk management and internal controls.
• Cash flow management and treasury operations.
• Financial systems and technology expertise.

Business Behaviours (Key Competencies)

• Strong knowledge and understanding of the Life insurance industry.
• Deep understanding of Life insurance products, actuarial principles, underwriting processes, risk management, and regulatory compliance specific to Life insurance.
• Dynamic and strategically minded, with a passion for performance, team play and achievement in a competitive and dynamic environment.
• Excellent interpersonal, negotiation and conflict management skills.
• Excellent communication and stakeholder management skills.
• Strong risk management and assessment skills.
• Demonstrated record of revenue and profit growth and new business development experience.
• Excellent leadership skills, particularly in strategy formulation and execution.
• Highly innovative, performance- and results-driven, coupled with good business acumen.

• Provide leadership in the development of JLICU's continuous evaluation of short and long-term strategic financial objectives with supporting financial analysis and evaluation.
• Ensure JLICU's financial benchmarks and targets are in line with Group standards and communicated and implemented across all JLICU's business lines and branches.
• Provide leadership and coordination of JLICU's Budget process and ensure the budgets are financially reasonable and reflect the strategic initiatives of the Group.
• Provide financial direction on potential M&A or country expansion activities, or major Board initiatives, including the preparation of business plans and budgets for potential new operations.
• Provide financial expertise and insights to support strategic decision-making and communicate financial performance and risks.
• Work closely with the Asset Management Company, coordinating the investment strategy of JLICU to optimize returns and monitor and manage Asset and Liability matching.
• Foster strong relationships with banks, financial institutions, and rating agencies to optimize financial partnerships and enhance the company's reputation.
• Ensure that JLICU is able to implement new accounting standards, including IFRS 17, on a timely basis and that actions to minimize impacts are anticipated through detailed analysis.
• Agree and evaluate targets (budget and performance) to steer and motivate the department according to agreed performance management and budget targets.
• Coordinate with the Internal Audit team to ensure a transparent and objective review of all points raised through the internal audit process, and coordinate with the finance team to ensure all internal audit matters are satisfactorily cleared in a timely manner.
• Oversee the activity of the external auditors and actuary for JLICU in collaboration with the respective HODs.
• Coordinate with the internal and external actuary to ensure timely completion of statutory valuation and reserve calculations and additional projects as required.
• Oversee and deliver the annual audited financial statements and annual report of JLICU.
• Review and analyze financial data and performance against plan and industry performance, including profit & loss statements, capital investment, budget allocation, cash flow forecasting and asset-liability management.
• Enhance the utilization and proper functioning of the integrated financial and management information systems (OFA).
• Advise and be a point of reference for the CEO and Board of Directors on all financial matters which impact JLICU.
• Ensure timely delivery of reports required by regulatory and industry bodies.
• Establish and maintain the financial business plan for the subsidiary, including the expense budget, and monitor variances between budget and actual performances so that corrective measures can be taken to minimize expense over-runs where required.
• Maintain effective models of the business to support the business planning process.
• Implement systems to enable management of expenses and capital needs within budget.
• Establish and maintain effective financial controls, policies, and procedures to ensure accuracy, integrity, and compliance.
• Ensure effective public relations and enhance the company's corporate image with all stakeholders and partners.
• Stay updated on finance-related industry regulations, compliance requirements, and best practices.
• Adhere to the laws and regulations of Uganda, the policies and regulations within the insurance industry, and all internal company policies and procedures.
• Ensure compliance with applicable statutory and regulatory requirements and establish mitigation measures against emerging business risks.
• Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.
• Provide the transformational leadership needed to meet and surpass the expectations of stakeholders.
• Provide leadership to the team and build know-how and knowledge sharing to create efficiencies and synergies.
• Build relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.
• Foster a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment for attracting, retaining, and motivating employees.
• Build the team and ensure adequate succession planning throughout the organization.
• Ensure adequate recruitment and development of finance staff so that the Life Company has appropriately qualified and experienced staff; provide annual and half-year performance evaluations and agree and monitor areas for improvement.
• Conduct regular team meetings and training sessions to enhance skills and knowledge related to financial reporting and industry trends.
• Oversee the investment of cash and near-cash funds of JLICU, including active participation in the JLICU Investment Committee.
• Work closely with the Head of IT to ensure that backbone infrastructure and business & financial operating systems are operating properly and in line with current IT developments and business trends; provide business case and support for all capital expenditures over set limits for approval to the Board Finance Committee.
• Set and constantly update financial controlling and reporting standards in Company Life while supporting the business to achieve targeted growth and profitability.
• Ensure the financial stability of the organization and solvency of the subsidiary through accurate reporting and developing standards of financial performance in the accounting and finance areas, including coordination with the internal and external actuary and active participation in all subsidiary Audit Committees.

• Market intelligence and operation.
• Risk and insurance programming.
• Macroeconomics.
• Business strategy formulation.
• Business planning and implementation.
• Change management.
• Market operation.
• Financial planning, analysis, and forecasting.
• Financial reporting and regulatory compliance.
• Risk management and internal controls.
• Cash flow management and treasury operations.
• Financial systems and technology expertise.
• Strong knowledge and understanding of the Life insurance industry.
• Deep understanding of Life insurance products, actuarial principles, underwriting processes, risk management, and regulatory compliance specific to Life insurance.
• Dynamic and strategically minded, with a passion for performance, team play and achievement in a competitive and dynamic environment.
• Excellent interpersonal, negotiation and conflict management skills.
• Excellent communication and stakeholder management skills.
• Strong risk management and assessment skills.
• Demonstrated record of revenue and profit growth and new business development experience.
• Excellent leadership skills, particularly in strategy formulation and execution.
• Highly innovative, performance- and results-driven, coupled with good business acumen.

• Master's Degree in Finance, Business Administration, Strategy, or any other related field.
• Bachelor's Degree in Finance/Business-related fields.
• CPA-K/ACCA qualification or equivalent.
• Minimum of 10 years of experience in Finance.
• Experience operating in complex business environments and/or regulated sectors, with the personal qualities to develop strong stakeholder relationships.
• Demonstrated ‘best in class’ knowledge of technology, change, process improvement and operational management in relevant businesses.
• Experience in financial planning, budgeting, forecasting, financial analysis, and financial reporting within the insurance industry.
• Experience building high-performing teams, fostering a culture of collaboration, and providing guidance and mentorship to finance professionals.