Position: Accountant- IFRS 17
Jubilee Group was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa.
Jubilee Group has spread its sphere of influence throughout the region to become the largest Composite insurer in East
Africa, handling Life, Pensions, Asset Management and Medical Insurance. Today, Jubilee is the number one insurer in East
Africa with over 1.9 million clients. Jubilee Group has a network of offices in Kenya, Uganda, Tanzania, Burundi. It is the only
ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar
es Salaam Stock Exchange and Uganda Securities Exchange. Its regional offices are highly rated on leadership, quality and
risk management and have been awarded an AA- in Kenya and Uganda, and an A+ in Tanzania. For more information, visit
www.JubileeInsurance.com.
We currently have an exciting career opportunity for an Accountant- IFRS 17 within Jubilee Life Insurance Limited. The
position holder will report to the Assistant Manager- Finance and will be based at our Head Office in Nairobi.
Role Purpose
The role holder will support the accurate and timely accounting and financial reporting of Jubilee Life Insurance Limited under
IFRS 17. The role will ensure effective IFRS 17 reconciliations, controls, disclosures and reporting, while supporting compliance
with applicable accounting standards and regulatory requirements.
Main Responsibilities
IFRS 17 Financial Reporting & Accounting
• Support the preparation of accurate and timely IFRS 17 financial reporting outputs for monthly, quarterly and annual
reporting cycles.
• Prepare IFRS 17 accounting entries and journals, ensuring appropriate accounting treatment and accurate posting
to the General Ledger.
• Support the accounting and reporting of insurance contract balances, including the Liability for Remaining Coverage
(LRC), Liability for Incurred Claims (LIC), Contractual Service Margin (CSM) and related movements.
• Support the accounting and reporting of JLIL revenue, JLIL service expenses and JLIL finance income or expenses in
accordance with IFRS 17 requirements.
• Support the accounting and reporting of reinsurance contracts held and ensure appropriate reconciliation of
reinsurance balances.
• Analyse movements in IFRS 17 balances and investigate significant variances between reporting periods, actual
results and expectations.
• Support appropriate mapping of IFRS 17 outputs to the General Ledger and financial reporting structures.
Job Ref. No: JLIL 429
• Support the preparation of IFRS 17 financial statement disclosures, reporting schedules and supporting
documentation.
• Ensure IFRS 17 reporting outputs are complete, accurate and available within agreed financial reporting timelines.
IFRS 17 Close, Reconciliations & Controls
• Support the monthly and quarterly financial close process for IFRS 17 reporting.
• Perform reconciliations between IFRS 17 sub-ledgers, actuarial results, General Ledger balances and other relevant
financial records.
• Investigate and resolve reconciliation differences and unexplained movements in IFRS 17 balances within agreed
timelines.
• Perform completeness and accuracy checks on IFRS 17 data, calculations and accounting outputs before financial
reporting.
• Maintain appropriate supporting schedules, working papers and audit trails for IFRS 17 balances and accounting
entries.
• Support the design, implementation and maintenance of appropriate controls over IFRS 17 reporting processes.
• Identify control gaps, process weaknesses and reporting risks and recommend appropriate corrective actions.
• Ensure appropriate documentation of key IFRS 17 processes, controls, accounting treatments and reporting
procedures.
IFRS 17 Technical Accounting
• Support the interpretation and application of IFRS 17 requirements to JLIL’s insurance products and transactions.
• Monitor developments in IFRS 17 and other relevant accounting standards and assess their potential impact on the
Company’s financial reporting.
• Support the preparation of technical accounting papers, position papers and accounting assessments relating to
IFRS 17 matters.
• Support the review and updating of IFRS 17 accounting policies, procedures and reporting methodologies as
required.
• Provide technical accounting support to Finance and other relevant stakeholders on IFRS 17-related matters.
• Support the assessment and documentation of accounting judgements, estimates and assumptions impacting IFRS
17 reporting.
• Support the interpretation and application of IFRS 9 and other relevant accounting standards where they interact
with the JLIL’s accounting and financial reporting.
IFRS 17 Data, Systems & Reporting Processes
• Support the integrity and completeness of data flowing from source systems and actuarial models into IFRS 17
reporting processes.
• Perform validation and reasonableness checks on IFRS 17 system outputs before posting and reporting.
• Support the mapping of accounts, products, transactions and IFRS 17 outputs between operational systems,
actuarial models and the General Ledger.
• Support user acceptance testing and validation of system changes impacting IFRS 17 accounting and reporting.
• Document test cases, testing results, identified issues and resolution of system-related IFRS 17 reporting issues.
• Work with Finance Systems, IT, Actuarial and external system providers to resolve data, system and reporting issues
affecting IFRS 17.
• Continuously identify opportunities to automate and improve IFRS 17 reporting, reconciliations and financial close
processes.
Financial & Regulatory Reporting
• Support the preparation of IFRS 17 inputs for statutory, regulatory and management reporting requirements.
• Support the preparation of relevant IFRS 17 information for Insurance Regulatory Authority (IRA) returns and other
regulatory submissions.
• Provide accurate IFRS 17 financial information and supporting schedules for tax computations and other statutory
reporting requirements, where applicable.
• Support the preparation of management reports and analysis highlighting key IFRS 17 movements, variances and
financial performance.
• Ensure all IFRS 17 reporting deliverables are prepared and submitted within agreed internal and regulatory timelines.
Audit & Assurance
• Prepare and maintain IFRS 17 audit schedules, reconciliations, working papers and supporting documentation.
• Provide required IFRS 17 information and explanations to internal and external auditors during audit and assurance
engagements.
• Support the resolution of audit queries and implementation of agreed audit recommendations relating to IFRS 17.
• Ensure all IFRS 17 records and supporting documentation are maintained to the required audit and governance
standards.
Stakeholder Management & Collaboration
• Work closely with the Actuarial team to understand and reconcile actuarial outputs used in IFRS 17 financial
reporting.
• Collaborate with the Financial Reporting team to ensure seamless integration of IFRS 17 reporting into the overall
financial close and reporting process.
• Work with Finance Systems and IT teams to address system, data and reporting requirements affecting IFRS 17.
• Liaise with Operations and other business teams to resolve data and transaction-related issues impacting IFRS 17
reporting.
• Support the provision of IFRS 17 guidance and knowledge-sharing to relevant Finance and business teams.
• Build effective working relationships with internal and external stakeholders to facilitate timely resolution of IFRS 17
matters.
Corporate Governance
• Ensure adherence to IFRS 17, IFRS 9 and other applicable accounting standards, laws, regulations and regulatory
requirements.
• Ensure compliance with the Company’s financial policies, procedures, internal controls and governance
frameworks.
• Maintain confidentiality, integrity and security of financial and customer information handled in the course of IFRS
17 reporting.
• Identify and escalate financial reporting, compliance and operational risks arising from IFRS 17 processes.
• Promote a culture of accountability, accuracy, integrity and continuous improvement within the Finance function.
People & Culture
• Cross-Functional Collaboration: Actively participate in cross-functional project teams to drive collaboration,
innovation, and accountability across departments and the Group.
• Employee Collaboration Index: Participate in a minimum of 2 company projects per year with an 80% success rate
and engage in at least 1 Group-wide project per year.
• Skills and Competency Development Index: 100% compliance with your training plan annually to support personal
and professional growth, ensuring alignment with career paths and future challenges.
• Cultural Alignment Index (CAI): Attain the Company’s CAI target score by embedding Jubilee’s values (e.g.,
innovation, teamwork, excellence) into project execution and team dynamics.
• Conflict Resolution: Address interpersonal or project-related conflicts constructively, maintaining team morale and
focus on shared goals.
• Resource Advocacy: Communicate needs (e.g., tools, training, support) to supervisors to ensure personal and team
success.
Key Competencies
• Analytical Thinking – Strong ability to analyse complex financial information, identify trends and investigate variances.
• Attention to Detail – High level of accuracy and attention to detail, particularly in financial reporting, reconciliations and
data validation.
• Problem Solving – Ability to identify root causes of accounting, reporting, data and system issues and develop appropriate
solutions.
• Technical Acumen – Ability to understand and apply complex accounting and insurance reporting requirements.
• Planning & Organisation – Ability to manage multiple reporting deliverables and meet strict financial reporting deadlines.
• Communication – Strong written and verbal communication skills, with the ability to explain technical accounting matters
clearly to non-finance stakeholders.
• Stakeholder Management – Ability to establish effective working relationships with Finance, Actuarial, IT, Operations,
auditors and other stakeholders.
• Continuous Improvement – Demonstrates an ability to identify opportunities to improve processes, controls, systems and
reporting efficiency.
• Integrity & Professionalism – Demonstrates a high level of integrity, confidentiality, accountability and professional
judgement.
• Adaptability – Ability to work effectively in a changing regulatory, technological and business environment.
Academic Background & Relevant Qualifications
• Bachelor’s degree in Finance, Accounting, Commerce, Business Administration or a related field.
• Professional accounting qualification such as CPA-K, ACCA or equivalent.
• Membership of ICPAK or an equivalent professional accounting body in good standing will be an added advantage.
• Additional training or certification in IFRS 17, insurance accounting or financial reporting will be an added advantage.
• Minimum of 2–4 years’ relevant experience in finance, accounting or financial reporting roles.
• Experience in the insurance or financial services industry, preferably within a life insurance environment.
• Practical experience in IFRS 17 accounting, reporting or implementation will be highly desirable.
• Experience in financial close, reconciliations, financial statement preparation and regulatory reporting.
• Experience working with actuarial, finance systems or other cross-functional teams will be an added advantage.
• Experience with ERP/General Ledger systems and advanced Microsoft Excel skills.
• Experience supporting internal and external audits and responding to financial reporting queries.
• Experience in IFRS 17 system implementation, UAT, data validation or reporting process enhancement will be an added
advantage.
If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com
quoting the Job Reference Number and Position by 28th August 2026.
Only shortlisted candidates will be contacted.