Career opportunity at Alliance Life Assurance Limited
Job title: Accountant
Department: Finance
Location: Dar es Salaam
Reports to: Chief Accountant
Job summary
The accountant plays a key role in the Finance Department by handling financial transactions, generating financial reports, maintaining accurate records, ensuring regulatory compliance, and supporting strategic financial decision-making. Additionally, the Accountant provides guidance to junior staff in the department and ensures efficiency in financial operations.
Main tasks
The essential functions of the role, which may be subject to change at any time as the business requirements dictate, are as per the below list. Further, management may assign new duties, reassign existing duties, or eliminate/alter a function.
- Financial reporting: Prepare, analyze, and submit monthly, quarterly, and annual financial statements to The Accountant for approval before submitting to regulatory authorities in compliance with TIRA, TRA, IFRS, and IAS requirements within the required deadlines. All financial transactions must be accurately recorded.
- Reconciliation: Ensure and supervise monthly bank reconciliations and reconciliations to EFD receipts to ensure accuracy and completeness. Investigate and resolve any discrepancies in a timely manner. Review financial statements against the company’s ledger and follow up on outstanding balances to maintain accurate financial records.
- Audit & compliance support: Assist in internal and external audits by preparing financial schedules, responding to audit queries, and providing supporting documentation. Ensure adherence to tax regulations, IFRS 17, and insurance industry financial reporting standards.
- Fixed assets & inventory management: Maintain and reconcile the Fixed Asset Register, ensuring proper recording, depreciation, and disposal of company assets (after obtaining the necessary approvals).
- Debtors & creditors management: Ensure effective debtors and creditors management to ensure payments are made in terms of valid contracts and funds due to the company are collected timely in line with the company policies and procedures. Verify payment requests, ensuring all supporting documents (Local Purchase Orders, Delivery Notes, and Invoices) are in place before processing payments. Prepare cheques and ensure timely vendor disbursements.
- Supervision & team development: Provide mentorship to junior accounting staff and interns, review their work, and ensure accuracy and compliance with company policies. Conduct performance evaluations, set performance goals, and facilitate training sessions to enhance their professional development.
- Regulatory compliance & industry updates: Keep abreast and proficient with updates on changes in accounting principles, taxation laws, and insurance regulations, ensuring company compliance.
- Receipting & banking: Ensure timely receipting of payments, accurate recording in the general ledger, and prompt banking of received amounts. Monitor bank accounts for telegraphic transfers and ensure correct posting.
Education, specialized training, and experience
- Bachelor’s degree in Actuarial Science, Accounting, Finance, or a related field.
- Certified Public Accountant CPA (T) or ACCA is mandatory.
- Master’s degree in Accounting or Finance is an added advantage.
- Minimum of 5 years of accounting experience, auditing, with at least 2 years in financial reporting.
- Experience in the insurance industry is an added advantage.
- Strong knowledge of IFRS, insurance accounting principles, insurance terminology, and regulatory compliance.
- Proficiency in Microsoft Office applications, PowerPoint, accounting software, digital portals, etc.
- Strong analytical, presentation, problem-solving, and decision-making skills.
General
Alliance Life Assurance Ltd (ALAL) promotes an equal opportunity workplace, which includes reasonable accommodations of otherwise qualified disabled applicants and employees. Please contact Human Resources with questions regarding the physical demands of this position.
How to Apply:
If you meet the qualifications and are interested in this position, please submit your resume to [email protected] with the Subject – Accountant.
The deadline for applications is 30th April 2025.
