CHIEF FINANCE OFFICER (INSURANCE COMPANY)

Career Options Africa Group is a HR Consultancy firm specializing in Recruitment, HR outsourcing and Immigration support in Africa with offices in Kenya, Uganda, Tanzania, Rwanda, Democratic Republic of Congo (DRC), Burundi, Nigeria, South Africa, and South Sudan.

Our client, one of the fastest-growing impact and tech companies in the world that use disruptive mobile technology to bring insurance and health services to consumers with low incomes, is seeking a Chief Finance Officer in Uganda. The client is a newly established entity operating as an IRA-licensed insurance intermediary, distributing mobile-enabled microinsurance products underwritten by licensed Ugandan insurers and collected through mobile money channels.

THE JOB

We are looking for a CFO who can take on the accounting, tax and regulatory reporting responsibility of the company's operations in Uganda. The ideal candidate has extensive experience and knowledge of accounting and tax rules in Uganda (URA), working knowledge of IRA requirements for insurance intermediaries, and is comfortable preparing month-end closings independently. This person will work closely with the company's advisors and under the supervision of the Chief Finance Officer for Africa. The ideal candidate may have to supervise a Financial Accountant, in charge of accounts payable, payments and GL postings. In the start-up phase the CFO will also be expected to set up the Uganda finance function from the ground up.

MAIN TASKS AND RESPONSIBILITIES .

1. Finance function set-up (start-up phase)

• Set up the Uganda entity in the accounting software/ERP (MBC): chart of accounts aligned to Group, opening balances, approval workflows and user access.
• Lead tax and statutory registrations: URA TIN, VAT (where applicable), PAYE and withholding tax agent obligations, EFRIS onboarding, NSSF employer registration and Local Service Tax.
• Support opening and mandate set-up of local bank accounts, and set up payment and reconciliation processes with the mobile money collection partner(s).
• Support the IRA broker licensing process on finance matters, including evidence of paid-up capital, statutory deposits/investments and professional indemnity cover.

1. Management and periodic closing

• General Ledger accounting management in our accounting software/ERP (MBC).
• Management of month-end closing with responsibility for the month-end checklist and balance sheet reconciliations (AP, AR, cash balances, bank and mobile money wallet reconciliations, premium payable to insurers, commissions receivable, etc.).
• Timely monthly reporting to Group in the format defined by Group Finance, including UGX/USD reporting and foreign exchange revaluation.
• Preparation of annual financial statements in accordance with International Financial Reporting Standards (IFRS) and the Companies Act, 2012, and management of the annual external audit.
• Preparation of annual budgets, forecasts and variance analysis for the Uganda business.

1. Controls, tax and regulatory compliance

• Ensure compliance with Ugandan laws and regulations applicable to the business, including the Insurance Act, 2017, the Insurance (Intermediaries) Regulations, 2021, the Insurance (Licensing and Governance) Regulations, 2020 and the Insurance (Mobile Insurance) Regulations, 2020.
• Tax compliance with the Uganda Revenue Authority (URA): corporate income tax and provisional returns, VAT, PAYE, withholding tax, Local Service Tax, NSSF contributions and EFRIS e-invoicing, all filed and paid by statutory deadlines.
• Transfer pricing documentation for intra-group transactions (management fees, technical services, IT recharges) in line with the Income Tax (Transfer Pricing) Regulations.
• IRA regulatory reporting: periodic returns for insurance intermediaries, audited financial statements, payment of IRA licence/compliance fees and levies, and the insurance training levy.
• Monitor and maintain the minimum paid-up capital, statutory deposits/investments and professional indemnity insurance required of an insurance broker, and escalate any shortfall in advance.
• Statutory company filings with the Uganda Registration Services Bureau (URSB), including annual returns.
• Support compliance with the Anti-Money Laundering Act, 2013 (including reporting obligations to the Financial Intelligence Authority) and the Data Protection and Privacy Act, 2019 for finance-held personal data.
• Management of the internal control environment in compliance with Group policies; collaboration with advisors and the regional finance team on these topics.
• Take charge of tax audits with URA and of finance aspects of IRA on-site inspections.

1. Revenue assurance and working capital management

• Revenue reconciliation between our IT systems, the mobile money/payment aggregator and our underwriting partners.
• Invoicing to partners (in EFRIS-compliant form) and collection of receivables.
• Cash flow management, ensuring an adequate and sufficient cash flow cycle is maintained at all times; manage UGX liquidity and Group funding requests.
• If needed, hold face-to-face meetings with the finance teams of our partners to ensure close monitoring of cash flow
• Check on reporting and payment, ensuring timely and proper documentation of the process.

1. Monthly reconciliation and premium remittance

• Oversee monthly reconciliation of premium deductions/collections with the MNOs (e.g. MTN MoMo, Airtel Money) and payment aggregator, and ensure discrepancies are escalated and resolved in a timely manner.
• Ensure premiums collected are remitted to underwriting partners within the timelines required by the Insurance Act, 2017 and the agreements with insurers, following a reconciliation process; no premium is to be used for company operations.
• Ensure proper invoicing is done and revenue (commissions and fees) is recognised in accordance with IFRS and internal policies.

1. Escalation

• Immediately escalate to the Chief Finance Officer – Africa / Country Manager any compliance risks, regulatory or tax queries, or cash flow issues.
• Notify the IRA and the Group of matters requiring regulatory notification, through the Principal Officer

QUALIFICATIONS

The job holder should have the following qualifications.

• A recognized university degree in accounting, finance, commerce or a related field.
• Holder of the CPA qualification and a member in good standing of the Institute of Certified Public Accountants of Uganda (ICPAU)
• At least four (4) years of working experience as an Accountant, including hands-on month-end closing, Ugandan tax filings and external audit management in insurance, insurance intermediation, microinsurance, fintech or mobile money businesses.
• Must obtain written approval from the Insurance Regulatory Authority of Uganda (IRA) for the appointment, in accordance with Section 103(1) of the Insurance Act, 2017.
• Must satisfy the IRA fit-and-proper criteria (Schedule 2 of the Insurance Act, 2017), including provision of a police clearance certificate, certified academic and professional certificates, and professional references.

THE RIGHT PERSON FOR THE JOB

The ideal candidate should possess the following skills and competencies.

• Must have excellent written and verbal communication skills.
• Working knowledge of IFRS (including IFRS 15 revenue recognition) and IRA reporting requirements.
• Experience working with Microsoft Dynamics 365 Business Central (MBC) or a similar ERP, and advanced Excel skills.
• Experience setting up a finance function for a new entity and reporting to a multinational Group.
• Supervisory experience and strong communication skills in English

WHAT WE ARE OFFERING THE RIGHT PERSON

We are offering a competitive salary and benefits package commensurate with experience and qualifications.

HOW TO APPLY

Visit www.careeroptionsafricagroup.com and www.hreastafrica.com for more details on this position.

Send CV only to recruitment.ug@careeroptionsafricagroup.com by 31st October 2026 subject heading, Chief Finance Officer (Insurance Company) –Uganda. However, applications will be reviewed as they are received, and qualified candidates called for an interview as soon as their CVs are received. Kindly indicate your current, last, or expected salary in the CV.

Candidates who do not hear from us by this date should consider their applications unsuccessful.