Ainembabazi Nathan

• In this role, I have the responsibility of the supporting the business through its monthly, quarterly and year-end financial
reporting, annual budgeting, AR and AP reconciliations and settlement, cash flow planning and treasury.
• I also support the business finance operations and investments management.

• Prepared monthly, quarterly, and year-end financial statements, ensuring accurate and timely delivery of financial and strategic
reports, enhancing reporting efficiency.
• Reviewed finance processes and implemented improvements, optimizing systems and increasing operational efficiency.
• Collaborated with external auditors and regulators, establishing a holistic approach to stakeholder engagements, improving
audit compliance.

In this role, I act as a chief financial advisor and strategic finance advisor, providing financial support to the MD & senior management while overseeing the financial operations of the company and making decisions to improve the overall financial health of the company. The role ensures the financial growth, profitability and viability of the organisation through building confidence in the investor community, driving organic & inorganic growth, appropriate administration of the business, effective working capital management, and proactively managing the financial performance of the company.
I lead the setting up of financial systems and structures and assumes full responsibility and authority for operations of the function. Additionally, I lead, coordinate and manage the financial resources, ensuring that operational efficiencies and cost optimization strategies are developed in line with the company objectives, and I am also responsible to produce accurate financial statements to report to key stakeholders. The role is fully accountable for the consolidated financial and non-financial reporting for CIC Uganda. Some of my key achievements in this role are;
• Delivered the first integrated annual report since the company was established in 2015.
• Developed and implemented the first procurement policy.
• Implemented successfully the first prequalification of suppliers.
• Reviewed the finance department work processes and restructured the same to obtain better work efficiency.
• Reviewed and successfully objected to a UGX 2.5bn income tax assessment against CIC Insurance up to the tax appeals tribunal.

In this role, I am responsible for preparing management accounts in line with the international financial reporting standards, coordinate and consolidate annual budgets as well as regularly review and advise management of the actual performance against budget, implementing and constantly review appropriateness of company internal controls, implementing the investment policy, preparing and filling of Tax and other regulatory returns and coordinating internal and external audits. I am also responsible for planning and managing the daily cash flows. Some of my key achievements in this role are;
• Reviewed and successfully objected to a UGX 218m PAYE assessment against CIC Insurance.
• Reviewed and reconciled all our tax heads which reduced our tax liabilities by nearly UGX 1Bn.
• Developed, tested and proposed a new incentive structure for our insurance agents that is cost effective and yet highly motivates our producers. Its logic is also easy to automate in our finance system.
• Championed and currently coordinating a project to review all our departmental system manuals to identify inefficiencies in the system and propose to group ICT system changes that will enhance efficiency in our work processes.

In this role, I was responsible for recovering any outstanding payment that is owed to an organisation from either business (commercial collection) or individuals (consumer collection) through managing a book of debtor accounts to ensure timely payment of outstanding invoices and conducting credit checks on new customers to ensure high customer satisfaction, retention and loyalty.
• Reduced the debt ratio from 41% to 19% in the shortest time possible which improved the company’s debt position and mitigated risks of bad debt while increasing the profitability.
• Empanelled three debt collectors who executed high level of expertise to conserve the company’s time and resources required to efficiently recover outstanding payment.
• Reviewed clients files so as to profile historical debt line and pay keen attention to detail and knowledge of the loans status and analyse applicant financial information to determine the most likely path to successfully clear their outstanding payment.
• Coordinated the reconciliation of clients and intermediary statements so as to ensure authenticity in the debt position of the company as well as ease intermediary commission payments in an efficient and accurate manner.
• Introduced and managed a user friendly credit approval system, which enable the company to automatically perform credit approval procedures in an effective manner which increased 90% transparency in the process and enhanced the company credibility.
• Developed and constantly reviewed monthly collection targets for our producers

In this role, I was responsible for recovering any outstanding payment that is owed to an organisation from either business (commercial collection) or individuals (consumer collection) through managing a book of debtor accounts to ensure timely payment of outstanding invoices and conducting credit checks on new customers to ensure high customer satisfaction, retention and loyalty.
• Reduced the debt ratio from 41% to 19% in the shortest time possible which improved the company’s debt position and mitigated risks of bad debt while increasing the profitability.
• Empanelled three debt collectors who executed high level of expertise to conserve the company’s time and resources required to efficiently recover outstanding payment.
• Reviewed clients files so as to profile historical debt line and pay keen attention to detail and knowledge of the loans status and analyse applicant financial information to determine the most likely path to successfully clear their outstanding payment.
• Coordinated the reconciliation of clients and intermediary statements so as to ensure authenticity in the debt position of the company as well as ease intermediary commission payments in an efficient and accurate manner.
• Introduced and managed a user friendly credit approval system, which enable the company to automatically perform credit approval procedures in an effective manner which increased 90% transparency in the process and enhanced the company credibility.
• Developed and constantly reviewed monthly collection targets for our producers

In this role, I managed financial-related tasks such as budget, payroll transactions and maintain accurate financial records for tax-related purposes. While here, I acted as a point of contact for all employees, providing administrative support and managing their queries and organizing company records.
• Ensured compliance of motor third party outlets with company reporting guidelines so as to avoid possible loopholes through which the company previously lost money at the outlets.
• Drafted monthly reports on agent’s performance so as to enable the company make factual based business decisions while improving the organisations productivity.
• Established two furnished agents’ offices which Streamlined operations and ensured an efficient chain of command.
• Identified ambiguities in filing returns by motor triparty outlets which had resulted into leakages of company income, which enable the company to recover the lost income and enhance its capital base hence improved efficiency and productivity.
• Participated in the innovation ad designing of a mobile application to help our client’s access insurance service on their mobile phones, which enabled the company serve 80% of its clients in an effective and efficient manner.

In this role, I was responsible for preparing financial documents such as invoices, bills, and accounts payable and receivable. Completing purchase orders, completing financial reports on a regular basis and providing financial information to management.
• Prepared monthly management accounts in order to keep management updated information so as to have more control over the business, Improves Cash flow, help With Tax Planning and reduce Year End Audit and Accounting Costs.
• Introduced weekly cash counts so as investigate any inconsistency between cash inflow and outflow, enhanced proper accountability practices and reduced 60% of fraud cases.
• Managed and accounted for project funds, through following a systematic budget forecast to ensure that expenses or day to day transactions are fully and accurately accounted for so as to promote transparency in the financial activities
• Reconciled books of accounts and financial records to ensure smooth operation of the company through detecting and preventing intentional fraud, along with errors by cashiers, accountants, employees and management.
• Offered administrative supports such as preparing payrolls in the system so that employees can receive their monthly salaries and other benefits in an efficient and effective manner while improving the company’s proficiency.