Test - Chief Finance Officer

kalkaal insurance is hiring highly experienced and oriented Head of Finance to lead finance department the successful candidate will be responsible for managing all financial parts of the business and making sure that financial resources are strategically grown and managed effectively while abiding by Islamic finance principles. In addition to overseeing the organization's risk management, financial planning, and reporting, the CFO will be crucial in developing the financial strategy that will support the company's expansion goals and guarantee regulatory compliance. A strategic thinker with substantial financial experience, a solid grasp of Takaful concepts, and potent leadership abilities are needed for this role. Key responsibilities will include:

Key Responsibilities

Strategic Leadership

Mentor and develop the finance function, setting a strategic department vision and scalable organizational model.

Act as a strategic business partner to the CEO, Board of Directors, and senior leadership team at Kalkaal.

Evaluate financial performance against short-term & long-term operational goals, budgets, and forecasts.

Manage financial aspects of Takaful activities and evaluate potential mergers and acquisitions. (if needed)

Financial Budgeting, Planning & Analysis:

Prepare and present monthly financial budgeting reports, analysing profit and loss and cash flow projections.

Conduct analysis of insurance and reinsurance premiums, commission, as well as technical & management expenses.

Develop financial risk management strategies and ensure compliance with regulatory requirements.

Explore new investment opportunities and provide recommendations on potential returns and risks.

Develop systems to manage budgets vs Actuals and align on key performance indicators and key cost drivers.

Financial Management

Manage cash flow planning process and ensure funds availability.

Explore new investment opportunities and provide recommendations on potential returns and risks.

Maintain outstanding relationships and strategic alliances with vendors and business partners.

Build and utilize forward-looking models and activity-based analyses to provide financial insight into the organization's plans and operating budgets.

Represent the company to banks, financial partners, institutions, public auditors, and officials.

Remain current on audit best practices globally as well at country state, federal, and local laws.

Work alongside business leaders to set up legal and financial compliance across all markets operate in

Innovation and Technology Integration

Champion the adoption of innovative financial tools and technologies to streamline processes and enhance efficiency.

Collaborate with other departments to integrate financial systems and automate routine tasks.

Stay abreast of emerging financial technologies and trends, evaluating their potential impact on business operations.

Stakeholder Engagement and Communication

Serve as a key member of the senior leadership team, providing strategic financial guidance and insights.

Cultivate strong relationships with investors, board members, internal and external stakeholders.

Communicate financial performance and strategic initiatives effectively, translating complex financial concepts into actionable insights.

Sustainability and Impact

Drive sustainability initiatives across financial operations, integrating environmental, social, and governance considerations.

Lead the development and implementation of responsible investment strategies aligned with the organization's values and objectives.

Measure and report on key performance indicators related to sustainability and impact.

Talent Development and Culture

Develop a high-performing finance team through mentorship, coaching, and professional development opportunities.

Foster a culture of innovation, accountability, and continuous improvement within the finance function.

Recruit and retain top talent, ensuring alignment with the organization's values and strategic objectives.

Requirements

Minimum of bachelor's in accounting or master's degree in finance, Accounting, or a related field. An MBA, CPA, CFA certification is preferred, demonstrating advanced knowledge and expertise in insurance financial management.

Candidates must have a minimum 10 years of proven experience as an insurance financial leader in a hyper- growth insurance or reinsurance company environment. Candidates should have a track record of driving financial strategy and operational efficiency in dynamic and rapidly evolving organizations.

Analytical Skills: Exceptional analytical skills and proficiency in interpreting financial data and metrics. Candidates should be able to conduct in-depth financial analysis, forecast future trends, and provide strategic insights to support organizational objectives.

Communication and Interpersonal Skills: Excellent communication and interpersonal skills are essential for this role. Candidates should be able to effectively communicate complex financial concepts to diverse stakeholders, including senior leadership, investors, and external partners.

Financial Software Proficiency: Proficiency in financial software and emerging technologies is required. Candidates should have hands-on experience with financial management systems, data analytics tools, and reporting software to drive operational efficiency and informed decision-making.

Leadership and Team Management: Proven leadership skills and the ability to mentor and develop a high-performing finance team. Candidates should have a collaborative leadership style, fostering a culture of innovation, accountability, and continuous improvement within the finance function.

Adaptability and Resilience: Demonstrated ability to thrive in a fast-paced, dynamic environment characterized by rapid growth and change. Candidates should be adaptable and resilient, with the flexibility to navigate ambiguity and drive results in evolving business landscapes.