Manager, Financial Reporting at the African Reinsurance Corporation (Africa Re)

The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest re-insurer in Africa. Headquartered in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius) and one (1) Contact Office in Addis Ababa (Ethiopia). It also has three (3) Subsidiary Companies (Africa Re South Africa Limited in Johannesburg (South Africa), Africa Retakaful) in Johannesburg (South Africa) in Cairo (Egypt) and Africa Re Underwriting Agency in Dubai (UAE).

Africa Re has a broad-based shareholding of 41 African member States; the African Development Bank; 114 African insurance and reinsurance companies; and four (4) non regional shareholders, including leading global insurers, reinsurers and international finance institutions. The Financial Strength and Credit Rating of Africa Re is “A” by A.M. Best Company and “A–“ by Standard & Poor’s.

We are recruiting to fill the position below in our Head Office:

Job Title: Manager, Financial Reporting

Location: Lagos, Nigeria
Grade level: Professional

Responsibilities

• The Manager, Financial Reporting has key contribution for the timely and accurate production of the Corporation’s consolidated financial statements, internal & external financial reporting and financial analysis as well as the annual and interim budgeting and forecasting process and their timely presentation to Management.

Duties / Job Details
The duties of the Manager, Financial Reporting comprise amongst others:

• Ensure overall accuracy of the financial statements of the Corporation as well as compliance with applicable International Financial Reporting Standards (IFRS);
• Provide critical historical and future-looking financial analysis to inform strategic and operational decisions, and to facilitate “what if” analysis.
• Prepare consolidated and non-consolidated financial statements, analyses and reports;
• Facilitate timely analysis of budget variances, including the review of explanations provided by budget holders as well as provide guidance to budget holders regarding corrective action and advise the Management as necessary.
• Perform monthly and quarterly general ledger analysis on the various asset, liability, revenue and expense accounts.
• Create, implement and maintain comprehensive Corporation wide accounting policy documents to improve clarity and consistency
• Implement and maintain reporting procedures to comply with internal control requirements
• Timely preparation of the annual consolidated budget and cash flow forecast for the Corporation;
• Co-ordinate the timely completion of the external audit of the financial records of the Corporation in line;
• Participate in the assessment, development, and facilitation of Corporation-wide staff training related to financial literacy, reporting, monitoring, and related internal controls.
• Manage communications with external auditors on external financial statements and accounting issues to ensure auditor agreement with company decisions on accounting disclosures, and issues
• Attend to other duties that may be assigned by the Director of Finance and Accounts and Management.

Location:

• The successful candidate shall be based in Lagos (Nigeria) with the possibility of redeployment to any regional office location of the Group.

Main Competencies
Technical:

• Sound knowledge of financial accounting and reporting
• Experience with financial and accounting reporting systems.
• Robust understanding of management accounting and financial management
• Extensive knowledge of IFRS and IFRS Reporting
• knowledge of insurance and reinsurance operations and accounting
• Ample knowledge of internal control processes
• Practical understanding of the accounting consolidation process
• Analytical and problem solving skills.
• Great attention to detail, demonstrated integrity and professionalism.
• Ability to stay knowledgeable about, research and reach well-reasoned conclusions on technical accounting issues.

Others:

• Team player, strong communication, negotiation and training skills.
• Proactive & innovative mind-set.
• Cross cultural and cross functional skills.
• Proven managerial skills/experience
• Good planning and reporting skills.
• Capacity for analyzing, synthesizing and reasoning
• Good supervisory skills.
• Integrity and proven sense of responsibility
• Ability to work under pressure
• Able to work in an international environment.
• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, etc.).

Qualifications and Professional Experience
Applicants shall be holders of

• A First University Degree, plus a complete professional qualification in Accounting, with a minimum of 9 years post qualification relevant work experience

Or

• A First University Degree, plus a complete professional qualification in Accounting with at least 5 years’ progressive experience in one of the Big 4 Audit Firms, auditing insurance/reinsurance companies.
• Relevant work experience in an Insurance/Reinsurance company
• A post graduate degree will be an added advantage
• Relevant experience in a Management position will also be an added advantage.

Additional Requirements
Applicants must also be:

• Fluent in one of the two working languages (French or English) of the Corporation. However, a good knowledge of the second language shall be an added advantage.

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary
• Variable pay (Annual Performance Bonus)
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
• Housing Allowance;
• Medical cover for staff and family;
• Home leave to country of origin every one (1) year paid by the employer - if Non- Nigerian National;
• Children education subsidy for each child up to 26 years (maximum 4 children)
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation and result of surveys.

Application Closing Date
9th July, 2021.