Senior Finance Associate - Kenya



Accounting & Finance
Nairobi, Kenya
Posted on Thursday, May 23, 2024

About Turaco

It is existentially urgent to figure out a way to insure people who are not insured. Turaco’s mission is to free people from the fear of financial shocks. Our 25-year goal is to insure a billion people, doubling the number of people insured in the world.

Turaco is a high-growth, well-capitalized fintech start-up in Africa that brings a new innovative insurance model to emerging customers. Turaco offers subscription-based insurance for the mass market bundled with regular transactions that people are already doing. Turaco works through fintech-enabled partners to offer affordable insurance products that add real value to people’s lives. At Turaco, we value simplicity, communication, and transparency and strive to transform how insurance works. When it comes to claims, our goal is to make the process as simple as possible and pay out fast.

Turaco embraces diversity and inclusion in the workplace - we’re building a team where our differences complement each other and make us stronger. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic.

Since launching in Feb 2019, Turaco has insured 2 million customers to date. Over the next 24 months, we are on track to triple in size and we’re looking for team members who can grow with us. To learn more, visit

Position Summary

Turaco is looking for a Senior Finance Associate with strong accounting and finance experience who will look after the finances of our business in Kenya on a day-to-day basis. This role is pivotal in building, maintaining, and scaling transparent and accountable finance tools so that Turaco can efficiently meet its business objectives. The Senior Finance Associate will report to the Senior Finance Manager and will communicate externally with Turaco’s business partners in Kenya. The ideal candidate has a deep understanding of tax and statutory regulation in Kenya, an established relationship with KRA, and an ability to manage day-to-day financial transactions of revenue and expense tracking for the company.

We’re looking for someone who is hyper-analytical, detail-oriented, can deliver high-quality work on tight deadlines, and wants to build experience in a high-profile VC-backed tech company. You must be comfortable and excited to work in a fast-paced start-up environment and ready to navigate challenges and ambiguity that may come your way.

Key Roles and Responsibilities

Accounting and finance

  • Manage expenses including petty cash, wire transfers, payroll transactions, expense classifications, claims payments, and general AP.
  • Ensure all payments are properly supported and duly authorized before disbursement.
  • Maintain and keep an up-to-date Fixed Asset Register.
  • Manage partner revenue calculations, generate invoices, and manage AR, and VAT remittances.
  • Maintain appropriate company documentation and compliance with regulatory and tax-related requirements.
  • Maintain accounting software system and initiate periodic improvements.
  • Liaise with external tax and audit firms for the creation of annual trial balances, tax filings, audits, and implementing audit recommendations.
  • Ensure tax and statutory deductions are properly computed and remitted before the due deadlines.
  • Support the Senior Finance Manager, in the consolidation of financial statements, budget vs. actual reporting, and other reports as required, providing commentary, and ensuring accurate and timely presentation to management.
  • Oversee all ledger and bank account reconciliations monthly.
  • Prepare monthly balance sheet schedules and ensure all balances are adequately supported.
  • Prepare the monthly payroll journals and pay statutory deductions by the due dates.
  • Maintain an organized, well-documented, and sequential filing system in the Drive Folders.

Implementation of Financial Policy and Planning Processes

  • Help prepare the annual budget plan for all aspects of Turaco’s operations so that it meets accounting compliance standards and the requirements of other key stakeholders.
  • Prepare accurate reports in line with Turaco’s reporting schedules.
  • Make recommendations to improve processes and minimize discrepancies.
  • Help to develop and implement policies and procedures to meet legislative requirements, and best practice approaches and provide ethical guidance for the finance and accounting processes of Turaco.
  • Work closely with the Senior Finance Manager to maintain an accurate cash flow forecast and ensure sufficient bank balances.
  • Support the selection and migration to a more robust ERP system.

External Stakeholder Management

  • Develop and maintain relationships with key business partners (including banks, auditors, actuaries, and regulatory bodies).
  • Coordinate the provision of information to external auditors and regulatory bodies for annual and ad hoc audits.
  • Maintain and update records of invoices, revenue, and costings (both expense tracking and project-level expense classification).
  • A stakeholder analysis of customer expenses and revenues.

Key Qualifications and Your Profile

Turaco is seeking a candidate who has the following characteristics:

  • Bachelor’s degree in a financial discipline.
  • ACCA or CPA qualifications.
  • At least 2 to 4 years of Accounting and Finance experience in a busy environment.
  • Previous experience working in a high-profile start-up or busy accounting firm.
  • Experience with Quickbooks Online.
  • Good understanding and application of IFRS.
  • A keen understanding of tax provisions in Kenya.
  • Leadership potential - desire and capacity to grow into leadership roles.
  • A builder; someone who has been part of building finance systems and controls.
  • Well-organized with a demonstrated ability to perform filing and record-keeping tasks.
  • High level of integrity and accountability.
  • Strong communication and organizational skills.
  • Strong analytical and problem-solving skills.
  • Ability to work well in a team and collaborate effectively with other departments.

Our Company Culture

Our company values are; 1) Care and Protect, 2) Do the right thing, 3) Have fun, and 4) Low ego. Our values inform the culture we have built at Turaco. Our work demands care and provides protection to our customers, we believe in honesty taking initiative, having fun while working, and being humble at all times. If these words describe you, join us!

Total Compensation & Benefits

Turaco offers a competitive salary commensurate with experience. We combine salary with a mix of useful employment benefits like stock option plans, credit facilities, office lunch, learning budget, flexible working, matched pension, healthcare, and a company culture that allows you to enjoy your work while making meaningful connections.