Accountant - Insurance Agency

Job Purpose

The Accountant will manage the financial health of company by maintaining accurate financial records, managing premium collections, processing claims payments, ensuring statutory compliance, and preparing timely financial reports to support organizational growth.

Key Responsibilities & Duties

1. Financial Reporting & Analysis: Prepare monthly, quarterly, and annual financial statements, including balance sheets, profit & loss statements, and cash flow forecasts.

2. Premium & Commissions Management: Reconcile premium collections from clients, track commissions due from various insurance underwriters, and manage agent/broker payouts.

3. Statutory Compliance: Ensure strict and timely compliance with all Kenyan statutory requirements, including filing and remittance of VAT, PAYE, WHT, NHIF, NSSF, and relevant Insurance Regulatory Authority (IRA) levies.

4. Accounts Payable & Receivable: Manage the general ledger, process vendor payments, monitor aging receivables, and execute credit control policies.

5. Audit Support: Prepare audit schedules and provide necessary documentation to support internal and external financial/HR audits.

6. Budgetary Control: Monitor department expenses against approved budgets to ensure efficient resource utilization and identify cost-saving opportunities.

Job Specifications & Qualifications

• Bachelor’s degree in Commerce (Accounting/Finance option), Economics, or a business-related discipline.

• Professional Qualifications i.e Fully qualified CPA-K or ACCA member in good standing.

• Minimum of 3-4 years of progressive accounting experience. Prior experience working within an insurance agency, brokerage, or underwriter is a distinct advantage.

• High level of financial integrity, mastery of accounting software (e.g., QuickBooks, Sage, or ERP systems like Microsoft Dynamics Central), advanced Excel skills, and a deep understanding of Kenyan tax laws.