Finance Manager

About the Company

The Senior Role of Finance is a key leadership role responsible for overseeing the day-to-day financial operations of the company. Reporting directly to the CFO, this position ensures the accuracy and integrity of financial reporting, manages corporate accounting functions, leads financial planning and analysis (FP&A), and strengthens internal controls. The ideal candidate will possess deep expertise in insurance accounting, including IFRS 17 and Kuwait's regulatory frameworks. This role requires a strategic mindset and the ability to translate complex financial data into actionable business insights for senior leadership.

About the Role

Key Responsibilities:

• Financial Management & Reporting (IFRS 17 & Local Statutory):
• Oversee all corporate accounting functions, including general ledger, accounts payable, accounts receivable, and payroll.
• Lead the preparation and timely delivery of accurate monthly, quarterly, and annual financial statements under IFRS 17, ensuring full compliance with the standard's requirements for insurance contract measurement and presentation.
• Manage the preparation of local statutory financial statements and regulatory filings for the Central Bank of Kuwait and Ministry of Commerce and Industry as required.
• Coordinate and lead the development and maintenance of actuarial and accounting data flows necessary for IFRS 17 calculations, working closely with the actuarial team.
• Serve as the primary liaison with external auditors for the annual financial and statutory audits.

• Financial Planning & Analysis (FP&A):
• Lead the annual budgeting, forecasting, and long-term strategic planning processes, incorporating IFRS 17 metrics and insights.
• Partner with the CFO and underwriting teams to analyze business performance, including loss ratios, expense ratios, underwriting profitability, and insurance service results under IFRS 17.
• Develop and maintain financial models to support pricing decisions, reinsurance structuring, and new product development.
• Provide senior management with insightful variance analysis and recommendations to drive profitability and operational efficiency.

• Internal Controls & Compliance:
• Ensure a robust internal control environment across all financial processes, with particular focus on controls around IFRS 17 data inputs, assumptions, and calculations.
• Liaise with internal audit to ensure timely remediation of any control gaps.
• Monitor and ensure compliance with all insurance regulatory financial requirements and tax filings, including Kuwait's social security and Zakat contributions where applicable.

• Treasury & Capital Management:
• Oversee cash management, forecasting, and liquidity planning to ensure the company meets its claim payment and operational obligations.
• Assist the CFO in managing relationships with banking partners and rating agencies.
• Support capital management initiatives, including surplus calculations, solvency margin requirements, and dividend distributions in compliance with Kuwaiti regulations.

• Team Leadership & Development:
• Lead, mentor, and develop a high-performing finance team, fostering a culture of continuous improvement, accuracy, and collaboration.
• Manage workload, set performance goals, and identify training needs within the department.

• System & Process Improvement:
• Identify opportunities to leverage financial systems (e.g., ERP, general ledger, IFRS 17 software solutions) to automate processes and enhance reporting capabilities.
• Drive continuous improvement in departmental processes to increase efficiency and scalability, particularly around IFRS 17 data capture and reporting.

Qualifications

• Education: Bachelor's degree in Accounting, Finance, or related field required. MBA or Master's in Finance preferred.
• Certification: Certified Public Accountant (CPA), Chartered Accountant (CA), Association of Chartered Certified Accountants (ACCA), or Certified Management Accountant (CMA) designation is strongly preferred.
• Experience: Minimum of 10+ years of progressive finance and accounting experience, with at least 5 years in a leadership role. Demonstrated experience working in the insurance industry—either directly within an insurance company or as a key team member on insurance audit/consulting engagements at a Big Four firm. Deep, hands-on experience implementing or operationalizing IFRS 17, including understanding of the General Measurement Model (GMM), Premium Allocation Approach (PAA), and disclosure requirements. Strong knowledge of Kuwait's insurance regulatory environment and reporting requirements is highly desirable. Experience with Oracle Fusion system is highly desirable.

Required Skills

• Strong analytical and problem-solving skills with the ability to see the big picture.
• Excellent communication and presentation skills, with the ability to convey complex financial information to non-financial stakeholders.
• High level of integrity, dependability, and results-oriented drive.
• Advanced proficiency in Microsoft Excel and financial modeling.
• Fluency in English is required; proficiency in Arabic is an advantage.

Preferred Skills

• Experience with Oracle Fusion system is highly desirable.