Role Purpose
The Head of Finance is responsible for providing strategic financial leadership, ensuring sound financial management, regulatory compliance, financial planning, risk management, and business performance optimization across Afia Concept Claims Settling Agency (ACS). The role supports executive decision-making by delivering accurate financial insights, safeguarding company assets, maintaining financial sustainability, and driving operational efficiency.
As a member of the senior leadership team, the Head of Finance will oversee all accounting, budgeting, payroll, taxation, procurement controls, audit processes, and financial reporting functions while supporting the company's growth strategy within the insurance claims management and healthcare administration sectors.
Key Accountabilities
Strategic Financial Leadership
- Develop and implement the company's financial strategy aligned with organizational goals.
- Provide financial guidance to the CEO and Board on strategic initiatives.
- Participate in business planning, expansion, and investment decisions.
- Lead financial feasibility studies and business case analyses.
- Monitor organizational financial performance and advise on corrective actions.
- Drive profitability, cost optimization, and sustainable growth initiatives.
Financial Planning & Analysis (FP&A)
- Lead annual budgeting and forecasting processes.
- Develop financial models to support business growth and strategic projects.
- Monitor budget utilization and departmental expenditure.
- Provide monthly, quarterly, and annual management accounts.
- Conduct variance analysis and recommend performance improvement measures.
- Develop key financial and operational performance indicators.
Financial Reporting & Accounting
- Ensure accurate and timely preparation of financial statements.
- Oversee general ledger management and account reconciliations.
- Maintain comprehensive accounting records and documentation.
- Ensure adherence to International Financial Reporting Standards (IFRS).
- Manage month-end and year-end financial closing processes.
- Oversee accounts payable, accounts receivable, and cash management functions.
Cash Flow Management
- Manage organizational cash flow and liquidity requirements.
- Develop cash forecasting models and working capital strategies.
- Oversee banking relationships and financial institutions.
- Monitor collections, vendor payments, and investment activities.
- Optimize cash utilization while maintaining adequate reserves.
Tax Management & Statutory Compliance
- Ensure compliance with all applicable tax regulations.
- Oversee timely filing and payment of PAYE, NSSF, SHIF/SHA, Housing Levy, VAT, Corporate Tax, and Withholding Tax.
- Coordinate tax audits and regulatory reviews.
- Advise management on tax planning opportunities and risks.
Internal Controls & Risk Management
- Develop and strengthen internal financial controls.
- Establish robust policies, procedures, and approval frameworks.
- Ensure safeguarding of company assets and funds.
- Identify financial risks and implement mitigation strategies.
- Monitor fraud prevention, detection, and reporting mechanisms.
- Support enterprise risk management initiatives.
Audit Coordination
- Lead preparation for internal and external audits.
- Coordinate responses to audit findings.
- Implement corrective actions arising from audit recommendations.
- Ensure continuous compliance with governance standards.
Payroll & Employee Benefits Administration
- Oversee payroll processing and reconciliation.
- Ensure statutory deductions and employee benefits are correctly administered.
- Review payroll controls and compensation-related reporting.
- Support HR with compensation budgeting and workforce planning.
Procurement & Cost Management Oversight
- Review procurement processes and expenditure controls.
- Ensure value-for-money principles are applied in purchasing decisions.
- Monitor contract costs and supplier performance.
- Approve procurement-related financial transactions within authorized limits.
Key Performance Indicators
- Budget accuracy and forecasting effectiveness
- Cash flow stability and liquidity management
- Timeliness and accuracy of financial reporting
- Profitability and cost management performance
- Audit outcomes and compliance ratings
- Tax compliance and statutory filing accuracy
- Reduction of financial risks and control breaches
- Collection efficiency and receivables management
- Finance team performance and development
Qualifications
- Bachelor's Degree in Finance, Accounting, Commerce, or Economics.
- Master's Degree in Finance, Accounting, Economics, MBA, or a related field is preferred.
- Professional qualification in at least one of CPA-K, ACCA, or CIMA.
- Additional qualifications such as Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), or Chartered Financial Analyst (CFA) will be an added advantage.
Experience
- Minimum 8–10 years of relevant finance experience.
- At least 5 years in a senior leadership or finance management role.
- Experience in the insurance sector, claims management, healthcare administration, or financial services.
- Proven experience managing annual budgets exceeding KES 100 Million is an added advantage.
- Demonstrated success in financial transformation and business growth initiatives.
Core Competencies
Strategic & Commercial
- Strategic Planning & Execution
- Corporate Performance Management
- Business Growth & Market Development
- Commercial Acumen
- Organizational Transformation
Technical
- Business Intelligence & Analytics
- Data Visualization & Reporting
- Market Research & Benchmarking
- Financial & Operational Analysis
- Digital Transformation
- Process Re-engineering
- Project & Programme Management
Leadership
- Executive Presence
- Stakeholder Management
- Change Leadership
- Critical Thinking
- Decision Making
- Innovation & Problem Solving
- Collaboration & Influence
- Communication & Presentation Skills