About Turaco
It is urgent to find a way to insure those who are not currently insured. Turaco’s mission is to relieve people from the fear of financial shocks. Our vision is to insure a billion people, effectively doubling the global number of insured individuals.
Turaco is a rapidly growing financial services start-up in Africa, introducing a new model for health and risk financing targeted at emerging customers. We provide subscription-based insurance for the mass market, bundled with everyday transactions that people are already engaging in. We collaborate with business partners to deliver affordable insurance products that truly enhance people’s lives. At Turaco, we prioritise simplicity, communication, and transparency while striving to transform how insurance operates. We are in the claims-paying business.
Turaco values diversity and inclusion in the workplace. We’re building a team where our differences enhance and strengthen us. We strictly prohibit discrimination and harassment based on race, color, sex, religion, sexual orientation, national origin, disability, genetic information, pregnancy, or any other protected characteristic.
Since launching in February 2019, Turaco has attracted a cumulative total of 4 million end users. We are experiencing rapid growth and are looking for team members who can evolve alongside us. To learn more, visit www.turaco.insure.
About the Role
Turaco is looking for a Senior Finance Associate with excellent accounting and finance experience who will be responsible for running the finances of our Kenya business on a day-to-day basis. This role is pivotal in ensuring that Turaco can efficiently meet its business objectives. The Senior Finance Associate will report to the Finance Lead/Senior Accountant.
The ideal candidate has an understanding of tax, statutory, and insurance regulations 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.
Key Roles and Responsibilities:
Accounting and Finance
- Manage expenses, including petty cash, wire transfers, payroll, 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, manage AR, and VAT remittances
- Maintain appropriate company documentation and compliance with regulatory and tax-related requirements
- Maintain the 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 Finance Lead 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 ensure statutory deductions are submitted by the due dates
- Maintain an organized, well-documented, and sequential filing system on Google Drive.
Financial Policy and Planning Processes
- Help to 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 regulatory requirements, and best practice approaches and provide ethical guidance for the finance and accounting processes of Turaco
- Work closely with the Finance Lead 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
- Maintain existing relationships with key business partners (including banks, auditors, actuaries, and regulatory bodies)
- Provide 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)
- Regularly conduct stakeholder analysis of customer expenses and revenues
Key Qualifications and Requirements
- Bachelor’s degree in a finance discipline
- ACCA or CPA Kenya professional qualifications
- At least 2 to 3 years of Accounting and Finance experience in a busy environment.
- Previous experience working in a high-profile start-up or an Insurance Company.
- Experience with QuickBooks Online preferred.
- Good understanding and application of IFRS
- A keen understanding of tax provisions in Kenya
- A builder, someone who has taken part in 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
- Leadership potential - desire and capacity to grow into leadership roles
- Strong analytical and problem-solving skills
- Ability to work well in a team and collaborate effectively with other departments
Our Company Culture
At Turaco, our culture is defined by our values: 1) Pushing boundaries, 2) Working with excellence, and 3) Profound respect for the individual. If these values resonate with you, we encourage you to apply!
Total Compensation & Benefits
Turaco offers a competitive salary commensurate with experience. Additionally, we provide a comprehensive benefits package, including stock options and healthcare, all within a supportive company culture that fosters growth and strong professional relationships.
