Ambrose Mwangi Kagara

AMBROSE MWANGI KAGARA E - -  Nairobi, Kenya SUMMARY EDUCATION Accomplished finance professional with a proven track record in automating financial processes, enhancing operational efficiency, and driving strategic improvements. Demonstrates expertise in transforming manual processes into streamlined, automated systems leading to more efficient month-end close and timely management reports delivery. Adept at developing and implementing financial strategies, providing insightful analysis, and ensuring regulatory compliance. Proven leader in training and mentoring finance teams, optimizing performance through revised processes and procedures, and introducing independent administration processes to streamline organization operations. Skilled in financial data integration, budgeting, risk management, external and internal audit coordination, and investment management, with a focus on delivering accurate forecasts and maintaining robust financial controls. Master of Commerce - Strategic Management. 2022 - Present Bachelor’s Degree in Purchasing and Supplies Management Jomo Kenyatta University of Agriculture and Technology (Second Class Upper) 2009 - 2013 Diploma in Insurance: (Dip CII) EXPERIENCE Chartered Insurance Institute –UK Finance Controller EarthEnable Strathmore Business School 2014 - 2016 Present Key Deliverables • Spearheading accounting operations and leading the monthly financial close processes for designated subsidiary countries, ensuring accurate and timely financial reporting. • Orchestrating global grants reporting and managing financial statement audits, providing comprehensive financial insights and maintaining compliance with international standards. • Navigating risk management and ensuring tax compliance for the Kenya office, establishing robust protocols to mitigate financial exposure and adhere to regulatory requirements. • Optimizing cash flow management by overseeing receivables and payables, maintaining liquidity, and ensuring financial stability across operations. • Directing the budgeting process and conducting in-depth variance analysis between actuals and budgets, driving strategic financial decision-making. • Managing credit portfolios by implementing effective credit control measures, minimizing risk, and enhancing financial performance. PROFESSIONAL CERTIFICATIONS Senior Accountant Proven ability to develop and implement comprehensive business plans and budgets, aligning financial strategies with organizational goals. Adept at providing strategic direction, optimizing financial performance, and leading teams towards achieving key financial objectives. Association of Kenya Insurers (Reports to Senior Manager Finance and Administration 05/2019 - 02/2024 Key Deliverables • Developed the annual Association master budget template by consolidating departmental information on planned activities, projects, and revenue streams. • Generated monthly, quarterly, and annual management and financial reports in alignment with established standards. • Oversaw and analyzed departmental budgets to ensure adherence to the approved annual budget. • Managed key performance indicators, including operating surplus, trade payables and provisions, financial projections, cash flow, inventory levels, and financial institution relations. • Coordinated the annual audit process (both internal and external), ensuring the implementation of audit recommendations and the maintenance of effective internal controls. • Implemented expenditure control measures to enhance financial efficiency. • Conducting monthly reviews of bank reconciliations, fixed assets registers, and month-end closing transactions. • Mentored, coached, and supervised subordinate staff to build a highperforming team. • Ensured the proper maintenance, storage, and security of financial and accounting documents, guaranteeing they are filed accurately, securely, and are readily accessible for necessary actions. Key Achievements • Revamped the finance department by transitioning from a manual workflow to an efficient, automated environment for all financial transactions and processes. • Empowered subordinate staff through targeted training, enabling them to realize and maximize their potential. Certified Public Secretaries – Section 5 2022 KASNEB Certified Public Accountant (CPA – K): 2011 to 2013 KASNEB MEMBERSHIP AFFILIATIONS Member of the Institute of Certified Public Accountants of Kenya (ICPAK) PROFESSIONAL STRENGTHS Strategic Financial Leadership Advanced Financial Analysis Expertise in analyzing complex financial data to drive strategic decision-making. Skilled in forecasting trends, mitigating financial risks, and implementing cost-reduction strategies, ensuring robust financial health and sustainability. Effective Risk Management Demonstrated proficiency in identifying, assessing, and managing financial risks. Implemented controls and strategies that have significantly mitigated risks and contributed to cost savings and enhanced financial stability. Comprehensive Auditing Expertise Extensive experience in coordinating internal and external audits, preparing detailed audit plans, and ensuring compliance with regulatory standards. Capable of addressing audit queries & implementing recommendations to strengthen financial controls. Innovative Financial Reporting Proficient in preparing and presenting accurate financial and management reports. Successfully transformed reporting processes from manual to automated systems, enhancing efficiency and accuracy in financial reporting. EXPERIENCE PROFESSIONAL STRENGTHS Senior Finance Associate – Budgeting and Forecasting Advanced Budgeting and Forecasting Skills Kenya Orient Insurance Limited Skilled in leading annual budgeting and forecasting processes, providing valuable insights into growth, profitability, and liquidity. Expert in managing budgets, monitoring expenditures, and ensuring alignment with financial forecasts. 04/2018 - 05/2019 Key Deliverables • Led the annual budgeting and quarterly re-forecasting processes by delivering insights into growth, profitability, and liquidity. • Calculated and reported the company’s solvency status on a quarterly basis, ensuring financial stability. • Monitored financials during month-end periods, addressing discrepancies between actual results and forecasts/plans to ensure accurate month-end closure. • Delivered monthly management reports, providing critical financial insights to stakeholders.Ensured the integrity of the Trial Balance, reviewing reconciliations between Finance and Business Systems for accuracy. • Maintained the chart of accounts, created new account codes, and reconciled general ledger accounts prior to the accounting period close. Finance Executive – Treasury & Reporting Accountant Kenya Orient Insurance Limited 06/2017 - 03/2018 Key Deliverables • Guided and mentored Branch Accounts Executives, improving their skills and performance. • Generated and examined monthly financial and management reports, offering actionable insights. • Conducted branch profitability evaluations and delivered findings to branch managers, emphasizing performance metrics. • Reviewed daily cash positions to ensure liquidity and financial stability • Filed monthly and quarterly regulatory returns to the Insurance Regulatory Authority (IRA), ensuring compliance. Key Achievements • Designated as the Finance lead for the system migration initiative, streamlining the transition and optimizing data integrity across financial systems. • Engineered cutting-edge templates and interactive dashboards, significantly improving the clarity and accessibility of financial reports for strategic decision-making. Accountant - Reporting. Fidelity Shield Insurance Company Limited Efficient Financial Control Expertise in ensuring the integrity of financial reports, managing cashbooks, and overseeing budget compliance. Strong ability to implement expenditure control measures and maintain accurate financial records. Proficient ICT and Systems Management Advanced proficiency in Microsoft Office Suite and ERP systems. Successfully led system migrations and upgrades, enhancing financial systems and processes for improved accuracy and efficiency. Exceptional Communication and ProblemSolving Abilities Strong communicator with the ability to relate effectively with stakeholders, address staff inquiries, and resolve complex issues. Skilled in visualizing and solving problems, making informed decisions, and facilitating effective team collaboration. CORE COMPETENCIES Budget Management Financial Analysis Regulatory Compliance 04/2014 - 05/2017 Key Deliverables • Generated comprehensive monthly financial and management reports with precision and punctuality. • Facilitated the creation of operating budgets, monitored expenditure compliance, and provided insightful commentary on budget variances. • Administered the fixed assets register, updating records for acquisitions and disposals, and computed depreciation in accordance with company policy on a monthly basis. • Oversaw the monthly closing of financial records and posted month-end entries to ensure the accuracy of financial reporting. • Executed monthly reviews of expense accounts, ensuring proper allocation to correct cost centers and periods. • Processed payments, authorized transactions, and verified computations of VAT and other taxes. • Compiled reinsurance and excess of loss accounts, ensuring alignment with reinsurance agreements in collaboration with the reinsurance function. • Delivered high-quality ad-hoc analyses to support management decisionmaking processes. • Led external and internal audits, ensuring the finance team promptly provided requested documentation and addressed audit queries and issues. Data Integration and Analysis Champion for the TQ Version 4 Upgrade – Finance Module (FMS) PASSIONS (Fidelity Insurance Engaging in long-term financial forecasting and planning to guide organizational growth and sustainability. Key Deliverables • Conducted data integration analysis between the Financial Management System (FMS) and General Insurance System (GIS), focusing on claims, premiums, and reinsurance allocations. • Executed reconciliation of GIS reports with General Ledger balances, ensuring accuracy and consistency across financial records. • Mapped reinsurance and facultative ledger accounts, optimizing account structures and enhancing financial clarity. • Restructured and remapped the trial balance, resulting in a streamlined and well-organized format that facilitates easier analysis. Financial Forecasting Risk Management Audit Coordination Investment Management System Implementation Strategic Financial Planning Financial Reporting and Compliance Ensuring accurate financial reporting and adherence to regulatory requirements. Budgeting and Forecasting Leading the budgeting process, analyzing variances, and forecasting future financial performance