Operations Accounting Manager at Mutual Benefit Assurance Plc

Mutual Benefits Assurance Plc (MUTUAL) has evolved into a conglomerate consisting of value-adding companies with diverse interests in various sectors of the Nigerian economy through investments, strategic alliances, and partnerships. Today, MUTUAL is a leading brand in the Nigerian Insurance industry, with over 3,000 staff and marketing executives in its employment.

We are recruiting to fill the position below:

Job Title: Operations Accounting Manager

Location: Ilupeju, Lagos
Employment Type: Full-time

Job Summary

• As one of the three (3) Operations Accounting Managers, you will oversee and lead the day-to-day operations of accountants and analysts in the Underwriting Accounting (UA), Technical Reserving (TR), Accounts Receivable (AR), Collection & Receipting (CR), Accounts Payable (AP), Related Party Transactions (RP), Fixed Assets (FA), and Cash Management & Validations (CM) teams.
• Strong leadership, problem-solving and communication (both written and verbal) skills, as well as a passion for process improvement, are required for this role.

Responsibilities
Functional Oversight:

• Daily support and point of escalation for UA, TR, AR, AP, CR, PR, FA and CM teams, providing guidance and oversight over the department’s operations.
• Oversee timely and accurate close of UA, TR, AR, AP, FA and CM subledgers and month-end processes.
• Conduct timely review of UA, TR, AR, AP, FA and CM subledgers and reconciliations identifying potential risks and recommended actions/solutions to Controller and Finance Leadership team.
• Review and approve day-to-day transactions such as payments runs, vendor payment verification, and daily cash application status.
• Ensure timely resolution of any accounting application errors by working with the ICT support teams and the application service providers as required.
• Identify, escalate and determine remediation plans related to potential leakages and risks ensuring that company assets are safeguarded.
• Ensure compliance with internal controls and policies making necessary adjustments where required.
• Determine and develop timely KPIs and analytics to provide value added insights over functional areas.
• Monitor KPIs and develop strategies, policies and procedures to improve KPIs / service levels where required.
• Ensure new transactions appropriately flow through UA, TR, AR, AP, FA, AND CM modules while working with Financial Controller and CFO to ensure correct accounting is followed.
• Handle all banking relations requirements.
• Support month-end, quarterly-end and year-end close processes.
• Responsible for general ledger, including trial balance and account reconciliations.
• Respond to inquiries from the CEO, CFO, Group Finance Director and other departmental senior managers regarding financial results and special reporting requests.
• Support in all internal and external audits.
• Implement measures to ensure data accuracy and integrity.

Process Improvements and Projects:

• Responsible for the design and effectiveness of operational and financial controls related to UA, TR, AR, AP, FA and CM, including proactively assessing current controls, offering recommendations for improvement and implementing new processes.
• Respond to control weaknesses by determining root cause and propose processes to mitigate/resolve gaps.
• Define and elevate current processes to best-in-class practices driving automation and utilization of systems where appropriate.
• Represent and provide functional knowledge in the areas of UA, TR, AR, AP, FA and CM for Company’s strategic projects such as Digital Transformation.
• Support business operations (both planned and ad-hoc activities) through involvement in requirements gathering, design discussions and mobilization of resources as required.
• Determine and execute training, socialization, implementation and change management strategies as it relates to process changes.
• Ensure maintenance and creation, if required, of narratives and standard operating procedures on all significant processes.

Team Leadership:

• Provide on-going feedback, training and coaching.
• Conduct performance reviews and create development plans with individual team members.
• Identify and determine plans to deal with attrition and succession.
• Allocate resources to support core functions.

Educational Qualifications

• University Degree with minimum second class upper degree qualification.
• Professional qualification- either ACA, CPA, ACCA or CIMA
• In-depth knowledge of IFRS accounting standards
• Understanding of NAICOM reporting requirements, Nigerian Stock Exchange listing rules and local regulatory (SEC, FRCN, etc) reporting requirements.

Experience:

• Minimum of 7 years post qualification experience, with at least 5 years public practice experience. Audit experience in a professional services firm is an advantage
• Comprehensive experience in financial modelling, forecasting operational sales and business results using various methodologies.
• Strong experience in applying broad and specialised accounting standards/best practices and analysis principles.
• Experience in management and external financial reporting, providing strategic analysis and input into strategic decision making to board level.
• Experience in pro-actively identifying potential financial issues and recommending possible solutions.
• Advanced experience in Microsoft Excel & PowerPoint.

Skills:
Technical:

• Interpret and apply the company’s Accounting Policies and Procedures.
• Excellent knowledge and applicability of IFRS.
• Very advanced excel skills and financial modelling techniques.
• Ability to upload, extract and analyse financial reporting from an ERP environment.
• Complete short term initiatives and process improvements applying a project methodology.
• Present and analyze financial statements, explaining performance and its underlying drivers.
• Good report writing, analytical and problem solving ability.
• Apply a high level of attention to detail and concise reporting writing skills, succinctly presenting financial information and resolving issues.

Behavioural & Management:

• Strong leadership, subordinate motivation/development and team playing skills.
• Excellent communication skills
• Strong project management skills with ability to leverage resources (people, processes, departments, tools) to achieve set tasks effectively and efficiently. This involves keeping to agreed deadlines.
• Develop and manage working relationships with other business units, senior stakeholders.

Application Closing Date
31st May, 2024.

How to Apply
Interested and qualified candidates should send their CV to: [email protected] using the Job Title as the subject of the email.