Botswana Insurance Company (BIC), a leading provider of short-term Insurance, is offering an exciting career opportunity for Finance Manager. We invite ambitious and talented professionals with a passion for the dynamic Insurance industry to apply.
Job Summary
- Employer: Botswana Insurance Company Limited (BIC)
- Job Type: Full-time
- Location: Gaborone, Botswana
- Category: Finance
- Closing Date: 2026-09-30
Key Responsibilities
- Ensure accurate implementation and compliance with IFRS 17 and other applicable accounting standards.
- Coordinate regulatory reporting and submissions within prescribed timelines.
- Maintain strong relationships with regulators, auditors, and tax authorities.
- Ensure compliance with Botswana tax legislation, including corporate tax, withholding tax, PAYE, and VAT where applicable.
- Manage tax planning and statutory tax submissions.
- Develop and implement effective financial controls, policies, and procedures.
- Identify financial risks and recommend mitigation strategies.
- Ensure compliance with Internal governance standards and risk management frameworks.
- Support enterprise risk management initiatives.
- Coordinate internal and external audits
- Implement audit recommendations and corrective actions.
- Maintain audit readiness throughout the year.
- Lead, mentor, and develop finance team members.
- Establish performance goals and conduct regular performance reviews.
- Promote a culture of accountability, Integrity, and continuous improvement.
- Manage the preparation of monthly, quarterly and annual financial statements in accordance with IFRS 17 and local regulatory requirements.
- Ensure timely and accurate financial reporting to management, the Board, regulators, shareholders, and external stakeholders.
- Review and approve journal entries, reconciliations, and accounting transactions.
- Monitor the company’s financial performance and provide insights to support business decisions.
- Oversee month-end and year-end closing processes.
- Lead the annual budgeting and business planning process.
- Prepare financial forecasts and cash flow projections.
- Monitor budget performance and provide variance analysis and recommendations.
- Support strategic initiatives through financial modelling and scenario analysis.
- Manage company cash flow and liquidity requirements.
- Oversee banking relationships and investment portfolios.
- Ensure efficient management of working capital.
- Monitor investment performance in collaboration with the Chief Financial Officer.
- Ensure compliance with Insurance Industry regulations issued by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA).
- Oversee accounting for premiums, claims, commissions, reinsurance arrangements, and reserves.
Requirements
- Minimum qualification of a Degree in Accounting, Finance, Commerce, or related field.
- The Ideal candidate must be a Chartered Accountant.
- Professional accounting qualification such as, ACCA, CIMA, BICA, ICAEW or Equivalent recognised qualification.
- And a member of a professional accounting body (BICA).
- Minimum 5-Years’ progressive finance experience.
- At least 3-5 years in a management role within the insurance or financial services sector.
- Experience with insurance accounting, reinsurance accounting, IFRS 17, and regulatory reporting.
- Experience dealing with auditors, regulators, and tax authorities.
- Insurance accounting principles
- Financial planning and analysis
- Risk management frameworks
- Advanced Microsoft Excel skills
- Strong financial modelling and analytical capabilities
How to Apply
Apply by email: enquiries@bic.co.bw
Phone: +267 360 0500, +267 76 115 593
Phone: +267 360 0500, +267 76 115 593
About the Company
Botswana Insurance Company (BIC) stands as a prominent provider of insurance products and financial services within Botswana. With a rich history spanning over 45 years, BIC has consistently demonstrated leadership in the nation's insurance market. The company caters to a diverse clientele, offering comprehensive solutions designed to protect assets and foster financial well-being. As a key player in Botswana's economic landscape, BIC is committed to serving the needs of individuals and businesses across the country.
Botswana's leader in insurance and financial services.
Website: https://www.bic.co.bw/
Frequently Asked Questions
What qualifications and certifications are typically required for a Finance Manager role in Botswana?
Most employers require a Bachelor's degree in Accounting, Finance, or Commerce, with professional certifications like ACCA, CIMA, or CA being highly valued. BIC and similar companies often prefer candidates with 5-7 years of progressive experience in financial reporting and management.
What are the typical day-to-day responsibilities of a Finance Manager at an insurance company like BIC?
Daily tasks include overseeing financial reporting, preparing management accounts, ensuring regulatory compliance with NBFIRA requirements, and leading month-end closing processes. You will also manage budgeting, cash flow forecasting, and provide strategic financial guidance to senior leadership.
How does workplace culture in Botswana typically affect the Finance Manager role?
Botswana's workplace culture emphasizes respect for hierarchy and collaborative decision-making, so expect regular consultations with executive leadership and cross-functional teams. Punctuality and professionalism are valued, though relationships-building through respectful communication often precedes business transactions.
What career progression opportunities exist for Finance Managers in Botswana's insurance and financial sector?
Progression typically moves to Financial Director or Chief Financial Officer roles, with some transitioning to Group Finance positions at regional headquarters. Additional pathways include specializing in risk management, internal audit, or moving into consultancy with firms serving the SADC region.
What employee benefits are standard for Finance Manager positions in Botswana?
Standard benefits usually include medical aid coverage, pension contributions through BPOPF or private schemes, and annual leave entitlements aligned with Botswana's labour laws. Many established insurers also offer group life cover, funeral benefits, and performance-based bonuses.
What do employers like BIC look for when reviewing applications for Finance Manager positions?
Employers prioritize demonstrated experience with IFRS reporting, knowledge of Botswana's regulatory environment, and proven leadership of finance teams. Strong applications highlight specific achievements in process improvements, cost management, and your familiarity with insurance industry financial operations.
