Finance Manager

The Finance Manager – Core Business is responsible for overseeing and managing the financial operations of the insurance business, ensuring efficient premium collections, accurate claims payments, robust financial reporting, and insightful business performance analysis. The role ensures financial integrity, compliance with industry regulations, and provides insights to support business growth and decision-making.

Key Responsibilities

Premium Collections

• Monitor and manage the end-to-end premium collection process across all channels.
• Ensure timely reconciliation of premiums received with policy records.
• Collaborate with the Funerals’ Admin Support teams to resolve discrepancies and improve collection efficiency.
• Manage the monthly preparation and submission of bordereaux information to the underwriters.
• Implement controls to minimize premium leakage and improve cash flow management.

Claims Payment

• Oversee the financial processing of claims payments in line with policy terms and regulatory standards.
• Ensure accurate and timely disbursement of approved claims.
• Maintain robust controls to prevent fraud and ensure proper authorization workflows.
• Oversee the preparation of reconciliations of claims paid for submission to underwriters.

Financial Accounting and Reporting

• Prepare monthly, quarterly, and annual financial statements in accordance with IFRS and insurance-specific reporting standards.
• Ensure compliance with statutory and regulatory reporting (FSCA, Prudential Authority).
• Maintain general ledger integrity and ensure all reconciliations are accurate and timely.
• Support audits and regulatory inspections with complete documentation.
• Ensure timely submission of Income Tax, VAT, and Employees Tax for all companies within the Core Business Unit.

Business Performance and Analysis

• Analyze financial performance across product lines, distribution channels, and business units.
• Provide insights and recommendations to enhance profitability and operational efficiency.
• Develop and maintain dashboards and KPIs to monitor financial health and strategic objectives.
• Support strategic initiatives through financial modelling, scenario planning, and investment analysis.

Financial Processes and Controls

• Develop, implement, and maintain finance-related policies and procedures.

Key Competencies

• Expertise in insurance finance and regulatory compliance
• Analytical thinking and commercial acumen
• Strong leadership and stakeholder engagement
• High attention to detail and integrity
• Proficiency in financial systems and Excel modeling

Qualifications

• Matric essential
• Bachelor’s degree in Finance, Accounting, or related field (essential).
• CA(SA) or equivalent professional qualification (preferred).
• ERP system implementation experience advantageous.

Experience

• 5–8 years of senior financial management experience, preferably within the insurance industry.
• Proven experience managing financial operations, reporting, and compliance.
• Experience working with multi-entity financial structures and regulatory reporting.

Working Conditions

• Workplace: Office