Assistant Payable Accountant

POST TITLE: ASSISTANT PAYABLES ACCOUNTANT
DEPARTMENT: FINANCE
REPORTING TO: FINANCIAL ACCOUNTANT

JOB PURPOSE:

To support the business by executing on the financial accounting key roles that include: timely preparation of various payments, preparation and filling of taxes and the applicable returns, review and provide value addition into intermediary reward proposals, ensure correct set up of tax and commission matrices in the system, ensure intermediary commission statements are circulated timeously, lease contract management and trial balance.

PRINCIPAL ACCOUNTABILITIES:

• Ensure all Medical line of business (Medical Commissions and Service
• Providers) payments are done in accordance with the company policy in a timely manner per customer service charter.
• Management of Intermediaries and Business Development Stakeholders — Preparation of commission statements and transfer schedule for payment, Preparation of marketers overrides for payment, Reconciliation of unpaid commissions and override schedules, Maintenance of Agents and unit managers loan schedules and medical deductions.
• Regulatory — Preparation, filing and Maintenance of IRA taxes in relation to Premium levy, PHCF, T L, Preparation, filing and Maintenance of KRA taxes in relation to Withholding Taxes (Commissions & Prof services), Excise Duty, VAT and Oversee payments of all statutory taxes as per deadlines.
• Management of Routine bills (Safaricom, Airtel, ICT Bills)
• Management of Consultancy Services — prepare a schedule of all consultancy services, ensure engagement contracts are in place and coordinate all payments.
• Staff Payments — Ensure all staff payments are processed per agreed SLAs and maintain the various schedules for purposes of enforcing recovery through payroll.
• Undertake ledger substantiation and control account reconciliation for ledgers allocated in line with TB substantiation requirements.
• Intermediary commission statement reconciliation — ensure intermediary commission statements are reviewed and circulated by 7th of each month.
• Support monthly accrual and prepayment schedule updates by 29th of each month.
• Regulatory — Preparation, filing and Maintenance of IRA taxes in relation to Premium levy, PHCF, T L, Preparation, filing and Maintenance of KRA taxes in relation to Withholding Taxes (Commissions & Prof services), Excise Duty, VAT and Oversee payments of all statutory taxes as per deadlines.
• Support all GI line of business payments processing in accordance with the company policy as per the customer service charter.
• Any other duties as may assigned by management from time to time.

RELATIONSHIPS:

Reporting to: Financial Accountant

Other Contacts:
Within the Company:
a. All Other Departments
b. Intermediaries
c. Branches

Outside the Company:
a. Vendors
b. Regulators
c. Customers

KNOWLEDGE AND EXPERIENCE (Qualifications)

Minimum Academjc Qualifications

• BCOM Accounting/Finance/Actuarial Science/Business Management
• CPA/ACCA qualifications

Experience:

• At least 2 Years Working Experience.

Knowledge:

• Understanding of insurance industry
• Clear understanding of accounting standards
• Practical/technical experience in Finance & Accounting.

SKILLS AND COMPETENCIES.

• Customer service orientation
• Relationship building
• Team player
• Ability to collate data, information and make informative observations
• Professional confidence
• Accuracy
• Problem solving skills .