Fund Accountant at Jubilee Life Insurance Limited

Job Description

Jubilee Life Insurance Limited is seeking a qualified professional to join its team as a Fund Accountant. The position holder will report to the Senior Manager – Pension Operations and will be based at the company’s Head Office in Nairobi.

Job Purpose

The Fund Accountant will be responsible for maintaining accurate and timely accounting records for pension schemes under administration and ensuring the financial integrity of scheme funds.

The role will support the processing, reconciliation and reporting of contributions, benefits, transfers, investments, income, expenses and other fund movements while ensuring compliance with applicable accounting, regulatory and scheme requirements.

The Fund Accountant will work closely with Pension Administration, Investments, Finance and other stakeholders to maintain accurate financial information, effective controls and quality service delivery to trustees, members and other stakeholders.

Key Responsibilities

1. Strategy

• Support the implementation of fund accounting objectives in line with the Pension Administration and business strategy.
• Provide financial insights to support scheme administration, investment and fund performance decisions.
• Support initiatives aimed at improving the efficiency, accuracy, timeliness and control of fund accounting processes.

2. Fund Accounting

• Maintain accurate accounting records for pension schemes, including contributions, benefits, transfers, investments, income and expenses.
• Process and account for scheme contributions, benefit payments, transfers and investment transactions.
• Prepare and maintain scheme-level journals, accounting adjustments and trial balances.
• Prepare unaudited quarterly management accounts for schemes to support trustees and management in making timely decisions.
• Monitor scheme assets, liabilities, income and expenditure.
• Investigate unusual or unexplained financial movements.
• Ensure transactions are accurately recorded in accordance with accounting policies, scheme rules and regulatory requirements.

3. Pension Administration Support

• Work closely with Pension Administration to ensure member and scheme transactions are accurately reflected in fund accounts.
• Validate contribution schedules, receipts, benefit instructions and other financial transactions.
• Reconcile member records, administration records, accounting records and bank transactions.
• Support the resolution of discrepancies across pension administration and accounting records.
• Provide financial information to support member, employer and trustee queries.

4. Financial Reporting & Analysis

• Prepare periodic scheme financial reports, schedules and supporting working papers.
• Analyse financial movements and variances and provide explanations for significant changes.
• Prepare information relating to contributions, benefits, transfers, investments and other material scheme transactions.
• Support the preparation of scheme financial statements, trustee reports, management information and regulatory submissions.
• Maintain complete and reliable supporting documentation and audit trails.

5. Reconciliation, Controls & Financial Integrity

• Perform regular bank, contribution, benefit, transfer and investment reconciliations.
• Monitor and resolve suspense balances, unidentified receipts, unallocated contributions and other outstanding items.
• Investigate discrepancies between pension administration, accounting, banking and investment records.
• Ensure journals, adjustments and transactions are appropriately supported, reviewed and authorized.
• Identify control weaknesses and recommend actions to improve financial integrity and reduce risk.

6. Corporate Governance, Risk & Compliance

• Ensure fund accounting activities comply with applicable laws, Retirement Benefits Authority (RBA) requirements, scheme rules, accounting standards and internal policies.
• Support internal and external audits by providing accurate schedules, records and responses to audit queries.
• Identify and escalate financial, operational, regulatory and control risks.
• Support the implementation of corrective actions arising from identified risks and audit findings.
• Maintain confidentiality and protect member, employer and scheme financial information.

7. Continuous Improvement, Automation & Process Optimization

• Identify opportunities to automate and improve manual fund accounting and reconciliation processes.
• Participate in system enhancements, user acceptance testing and implementation of fund accounting and pension administration systems.
• Develop and improve reporting tools, templates and processes to enhance accuracy, data quality and turnaround times.
• Support initiatives aimed at improving integration between pension administration, accounting, banking and investment systems.

8. People & Culture

• Actively participate in cross-functional project teams to promote collaboration, innovation and accountability.
• Participate in at least two company projects annually, with an 80% success rate, and engage in at least one Group-wide project per year.
• Maintain full compliance with the annual training plan to support personal and professional development.
• Embed Jubilee’s values, including innovation, teamwork and excellence, into project execution and team interactions.
• Address interpersonal and project-related conflicts constructively.
• Communicate resource, training and support needs to supervisors to facilitate individual and team success.

Key Competencies

• Attention to Detail: Demonstrates a high level of accuracy when processing, reviewing and reconciling financial and member-related transactions.
• Analytical Thinking: Ability to analyse financial movements, identify variances and investigate the causes of discrepancies.
• Accountability: Takes ownership of assigned schemes and follows financial matters through to resolution.
• Problem Solving: Approaches reconciliation breaks, accounting discrepancies and operational challenges logically.
• Collaboration: Works effectively with Pension Administration, Investments, Finance, Treasury and other stakeholders.
• Customer Orientation: Understands the impact of fund accounting activities on members, employers, trustees and other stakeholders.
• Integrity & Confidentiality: Demonstrates high ethical standards when handling scheme assets and sensitive financial information.
• Planning & Organisation: Effectively manages multiple schemes, reporting deadlines, reconciliations and competing priorities.
• Communication: Communicates financial information, discrepancies and technical matters clearly to technical and non-technical stakeholders.
• Continuous Improvement: Identifies opportunities to improve processes, controls, reporting and operational efficiency.

Academic & Professional Qualifications

• Bachelor’s degree in Accounting, Finance, Commerce, Actuarial Science, Economics, Business Administration or a relevant field.
• CPA, ACCA or an equivalent professional accounting qualification.
• Relevant qualifications or progression in pensions, investment management or retirement benefits will be an added advantage.
• Membership of a relevant professional body, where applicable.
• Knowledge of the Kenyan retirement benefits regulatory environment and RBA requirements.
• Proficiency in Microsoft Excel and accounting/ERP systems.
• Experience with pension administration or fund accounting systems will be an advantage.

How to Apply

Qualified and interested candidates should submit their applications via Recruitment@jubileekenya.com, quoting the Job Reference Number and Position in the application. Application Deadline: 23 September 2026