Wednesday, May 22, 2013

Financial Planning & Analysis Manager

Position Description
Estimate process
Manage the quarterly estimate process, timetable and deadlines to ensure timely business review and finalization. 
Coordinate and analyze the Net Investment Income(NII) and invested assets estimates(quarterly and year to date)
Prepare, analyze and challenge quarterly estimates and business performance (quarterly and year to date) with line if business managers. Provide feedback and guidance to business to ensure accuracy and completeness of submissions. 
Obtain profit center manager sign off on quarterly GAAP estimates for all lines of business including appropriate commentary on business performance against budget and prior year.
Upload and reconcile data on Adytum.

Quarter end process
Manage quarter end process, timetable and deadline to ensure timely review and finalization.
Conduct expense analysis (quarterly and year to date) and provide commentary to the line of business managers.
Conduct risk and opportunity process; quarterly estimates to actual, full P&L.
Prepare FP&A workbook – consolidation and analysis of full P&L results to Net Income (quarterly and year to date).
Obtain profit center manager sign off on final actual for line of business including commentary of performance against submitted estimates.

Annual Production Budgets and Business Plans; 
Manage the budget process, timetable and deadlines to ensure timely review and finalization of budget.
Issue instructions, templates, timelines and commentary to the business in line with strategic direction.
Coordinate budget discussion meetings with business and review, analyze and consolidate information.
Ensure accurate budget submission by required deadlines.
Circulate consolidated information to the business, drive process for adjustments and changes to finalize budget numbers.
Assist in the preparation of the country budget presentation
Provide budget schedules to NY as required.

Compile, verify and conduct variance analysis on monthly productions reports. Submit in line with required deadlines.
Compile and distribute GPW tracking estimate / budget report (monthly and quarterly) and loss analysis report (monthly and quarterly ) in timely manner.
Conduct ad hoc reporting as required; eCommerce, new business products, banc assurance, professional fees, non claims legal etc.
Prepare Premium Tax, ITET and Policy Holders’ Fund monthly returns and ensure settlement with 15 days of the month end and making relevant schedules available for Audit to facilitate the audit and submission of Annual returns by 31st March of the following year.

Limited Account Reconciliations;
Preparation of Annual Operational Expense budget to supplement the Adytum budget and produce monthly variance reports to accompany the monthly reports.

Statutory Returns;
Preparation and submission of Quarterly and Annual Statutory returns by the statutory deadline of 45 days after quarter end and 30th April respectively ensuring that the capital, reserves and solvency margins are achieved and any regulatory issues raised are addressed with 90 days or a shorter time as the Commissioner may prescribe.

Annual License Renewal Process; 
Compilation and submission of Registration renewal data to the office of the Commissioner of Insurance ensuring prompt registration renewal of CHARTIS Kenya’s license by the 30th of September of each year.

Financial Performance and Analysis
Develop capability to calculate ROE at the profit center and LOB level. Integrate ROE and other key metrics as part of business planning and financial review process.
Monitor and analyze key traditional and non traditional competitor performance metrics and contrast them to our results. Based on analysis, provide management with key insights, projections and recommendations.

Controls Frame Work Compliance
In the performance of his/her duties, the holder of this office will ensure compliance with the relevant controls frame work and ensure where non compliance is noted, the same is escalated to the country controller.

Position Requirements 

This position reports to both the Country Controller and the Regional Financial Planning and Analysis Manager.

It is guided on a day to day basis by corporate reporting policy, IFRS, US-GAAP and the local statutory reporting requirements set out in the Insurance Act and the circulars by the industry regulators.

Knowledge of existing and prior years Reinsurance treaties and the prior performance are key to the performance of this key role. 

The holder works under worldwide deadlines and standards and any delays would cause distress in the larger CHARTIS.  Crafting many of the required reports requires a sense of creativity as the data is not always available in the required form or detail.
About Us 
Chartis is a world leading property-casualty and general insurance organization serving more than 40 million clients in over 160 countries and jurisdictions. With a 90-year history, one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence. For additional information, please visit our website at

At Chartis we support and encourage a diverse work environment.  EOE.