Vincent Ssematimba
Kampala
Summary
Dynamic Chief Finance Officer with a proven track record at Jubilee Health Insurance Company Ltd., excelling in financial resource management and regulatory compliance. Demonstrated leadership in directing high-performing teams, achieving a 50% cost-to-income ratio, and enhancing financial forecasting accuracy through advanced budgeting techniques and strategic analysis.
Overview
17
17
years of professional experience
1
1
Certification
Work History
Chief Finance Officer
Jubilee Health Insurance Company Ltd.
Kampala
01.2021 - Current
- As a key member of the Executive Management team, the Chief Financial Officer will report to the Chief Executive Officer and assumes a strategic role in the overall management of the company.
- The CFO has a primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company.
- This includes direct responsibility for accounting, finance, forecasting, strategic planning, job costing, legal, property management, deal analysis and negotiations, investor relationships and partnership compliance and private and institutional financing.
- Demonstrates leadership and management skills by directing high performing, results orientated finance team.
- Excellent financial forecasting ability highlighted by projecting annual budgets and five-year forecasts.
- Proven ability ensuring integrity of fiscal data, accounting practices, financial analysis, investments, and funding.
Chief Accountant | Management Accountant
Jubilee Life Insurance Company Ltd.
Kampala
01.2019 - 01.2021
- Advise C-level executives and Board-level directors on strategy, budget, and goal development.
- Develop finance agenda including financial reporting, solvency, tax, IT, budget, and funding.
- Maintain effective internal control frameworks.
- Enforce compliance to regulatory and financial requirements and ensure achievement of service level agreement (SLA) objectives.
- Orchestrate and direct internal/external assurance and tax audits.
- Monitor and report finance operations to assist in goal achievement.
- Appointed to serve on Board Audit & Compliance Committee (BACC), Finance & Investment Committee (BFIC), and main board.
- Proven ability ensuring integrity of fiscal data, accounting practices, financial analysis, investments, and funding.
- Demonstrated leadership and management skills by directing high performing, results orientated finance team.
- Excellent financial forecasting ability highlighted by projecting annual budgets and five-year forecasts.
Manager – Management Reporting
DFCU Bank Ltd.
Kampala
01.2019 - 12.2019
- Directed team of Financial Officers, ensuring prompt payments.
- Oversaw implementation of accounting policies.
- Forecasted budgets including overheads and Capex.
- Formulated bank and group monthly management accounts.
- Analysed non-funded income, business reporting, branch profitability, and product profitability.
- Ensured accurate capture and charge of non-interest income.
- Reported on debits to income, loan loss provisions by product/segment, recoveries, and identified key trends.
- Facilitated training for Accountants.
- Improved decision making through value-added investment appraisals, predictive modelling, and trends and scenario analysis.
- Modified revenue trend analysis by evaluating product and business segments.
- Efficiently identified and corrected any anomalies by monitoring key indicators and revenue assurance models.
- Reduced company costs by meticulously analysing value against procurements before approval.
Management Accountant
DFCU Bank Ltd.
Kampala
01.2013 - 12.2018
- Directed budget formulation and monitoring tasks including budgetary overheads process and corresponding with budget holders.
- Executed bank account preparations, board report formulation, group account consolidation, and treasury report distribution.
- Distributed regular statistical information reports.
- Facilitated regular performance reviews with Development & Institutional Banking (DIB) and Consumer Banking (CB) teams, ensuring benchmarking against approved budgets.
- Evaluated and ensured accurate recording of loan portfolio and loss provisions in accordance with FIA and IFRS.
- Coordinated tax and assurance audit reviews.
- Served as Treasurer and effectively executed role related tasks.
- Track record of maintaining compliance with International Financial Reporting Standards (IFRS) and Financial Institution Act (FIA).
- Recognised and credited for contributions toward accurate decision making by Senior Management including results-based budgeting process to reflect current economic environments.
- Achieved 50% cost to income ratio in 2017 by successfully maintaining updated forecasts on expected performance.
- Exceeded non-interest income, resulting in 20%+ of total revenue in 2017/2018 by reviewing performance of retail management committee and branch profitability.
- Successfully utilised IDEA Data analysis tool to identify exceptions, early warning triggers, tracking of reversals, and stop revenue leakage.
Financial Accountant
DFCU Bank Ltd.
Kampala
01.2012 - 12.2012
- Controlled internal/external audits and risk review process.
- Maintained update log of audit issues.
- Formulated regular liquidity, statistical, cash reserve, BS100, and maturities reports.
- Conducted daily reconciliations, ensuring no aged items.
- Prepared, filed, and paid Uganda Revenue Authority (URA), VAT, and WHT returns.
- Oversaw financial risk management activities such as monitoring expired letters of credit, guarantees, and maturing assets.
- Managed balance sheet schedules.
- Drafted daily balance sheet exception reports.
- Proven success complying with rules, regulations, and deadlines to avoid non-compliance penalties.
- Contributed to efficient signing off of balance sheets, resulting in signing off by second working day of the month and cross-referencing of balance sheet by fourth working day of the month.
- Achieved an acceptable audit rating for finance department for the entire tenor of control in this area.
- Successfully co-ordinated bank audit reviews and avoided any qualified and/or modified opinions from the external auditors.
- Oversaw a comprehensive assets and liability management process of hedging the balance sheet against foreign exchange risks in the preparation of group consolidation accounts.
- Produced an informative maturity analysis for the bank which ensured matched assets and liabilities at reporting dates.
Reconciliations Accountant
Bank of Africa (U) Ltd.
Kampala
01.2008 - 12.2011
- Spearheaded risk management and balance sheet reporting functions.
- Reconciled head office, branch, and Bank of Uganda accounts clearing and collection.
- Drafted daily financial statement reports and weekly fees/commissions reports.
- Maintain finance and operations database.
- Prepared journal vouchers and cancellations.
- Corrected entries to complete transactions.
- Investigated outstanding accounts.
- Reconciled accounts.
- Generated bills to assist user queries and cost budgeting.
- Succeeded in establishing new branches in core banking system, creating new accounts per product line requests, and submitting charges to system.
- Modified system including changing dormant accounts to active accounts by General Ledger, reclassification of loans, and restoration of Interest conditions.
- Orchestrated the successful extraction of information from management information system – SMR Tool which resulted into timely reporting of the banks daily key financial performance figures.
- Achieved a below approved budget cost outcome through managing the banks fixed lines using the Telnet and Omni-Vista software’s to load limits and avail statements to users upon request.
Education
Masters - Business Administration
Heriot Watt University
Edinburg, United Kingdom05.2025
Advanced Diploma - Accounting & Business
Association of Chartered Certified Accountants
UKBachelor of Science - Statistics & Economics
Makerere University
KampalaFinacle Enhancement Training - Finacle Software v10
Infosys Limited
IndiaLean Six Sigma - Green Belt
Rabo Bank
NetherlandsLeading Change Program - Change Theory
Strathmore University
KenyaSkills
- Financial Resource Management
- Bank & Account Reconciliations
- Regulatory Compliance
- Internal & External Audit Processes
- Database Management
- Budgeting & Forecasting
- Business Analysis & Reporting
- SUN Systems
- IDEA Data Analysis Tool
- QuickBooks
- Microsoft Office Suite
- Pay Master
- Tally Accounting Software 70
- SQL Server
- SQL Query Analyser
- Telnet Software
- Omni-Vista Software
- Oracle Financials
- MS Power BI
Certification
- Certified Public Accountant
- Chartered Accountant
- Certified Process Modeller
Career Experience
- Jubilee Health Insurance Company Ltd., Kampala, Uganda, Chief Finance Officer, 01/01/21, Present, Report to the Chief Executive Officer and assume a strategic role in the overall management of the company., Plan, implement, manage and control all financial-related activities of the company., Direct high performing, results orientated finance team., Project annual budgets and five-year forecasts., Ensure integrity of fiscal data, accounting practices, financial analysis, investments, and funding.
- Jubilee Life Insurance Company Ltd., Kampala, Uganda, Chief Accountant | Management Accountant, 01/01/19, 12/31/20, Advise C-level executives and Board-level directors on strategy, budget, and goal development., Develop finance agenda including financial reporting, solvency, tax, IT, budget, and funding., Maintain effective internal control frameworks., Enforce compliance to regulatory and financial requirements.
- DFCU Bank Ltd., Kampala, Uganda, Manager – Management Reporting, 01/01/12, 12/31/19, Directed team of Financial Officers, ensuring prompt payments., Oversaw implementation of accounting policies., Forecasted budgets including overheads and Capex., Formulated bank and group monthly management accounts.
- Bank of Africa (U) Ltd., Kampala, Uganda, Reconciliations Accountant, 01/01/08, 12/31/11, Spearheaded risk management and balance sheet reporting functions., Reconciled head office, branch, and Bank of Uganda accounts., Drafted daily financial statement reports.
Affiliations And Memberships
- Fellow, Association of Chartered Certified Accountants (FCCA), UK
- Member, Institute of Certified Public Accountants (CPA), Uganda
- Member, Statistical society of Uganda, Uganda
Personal Information
Title: CPA, FCCA
Languages
- English, Fluent
- French, Elementary
Awards
- A-Rater’s club Certificate, 2016
- 2nd Runner Up Banking Category, Financial Reporting Awards, 2014
- Recognition Communication & Presentation of Reports Category, 2013
References
- Mr. Otim Godwin, Human Resources Officer, UNICEF, P.O. Box 30030, Gigiri, Nairobi, 0752-600315
- Ms. Sophie Nkuutu, Non-Executive Director, Abi Trust Finance, Non-Executive Director UAP OLD MUTUAL, Kampala, Uganda, 0772-503627
- Mrs. Rebecca Birungi, Financial Controller, DFCU BANK Limited, Plot 26 Kyadondo, Nakasero, Uganda, 0772-470475
Qualifications Summary
Proven professional competence and mastery of various financial functions. Aptitude for aligning departmental strategy with organisation strategy. Adept at budget forecasting and expenditure control. Skilled at financial data analysis, reporting, and risk management. Demonstrated success owning Treasury role. Excellent ability leveraging communication skills to collaborate with diverse workforce, manage teams, and advise Senior Management.
Area Of Expertise
- Financial Resource Management
- Bank & Account Reconciliations
- Regulatory Compliance
- Internal & External Audit Processes
- Database Management
- Budgeting & Forecasting
- Business Analysis & Reporting
Timeline
Chief Finance Officer
Jubilee Health Insurance Company Ltd.
01.2021 - Current
Chief Accountant | Management Accountant
Jubilee Life Insurance Company Ltd.
01.2019 - 01.2021
Manager – Management Reporting
DFCU Bank Ltd.
01.2019 - 12.2019
Management Accountant
DFCU Bank Ltd.
01.2013 - 12.2018
Financial Accountant
DFCU Bank Ltd.
01.2012 - 12.2012
Reconciliations Accountant
Bank of Africa (U) Ltd.
01.2008 - 12.2011
Masters - Business Administration
Heriot Watt University
Advanced Diploma - Accounting & Business
Association of Chartered Certified Accountants
Bachelor of Science - Statistics & Economics
Makerere University
Finacle Enhancement Training - Finacle Software v10
Infosys Limited
Lean Six Sigma - Green Belt
Rabo Bank
Leading Change Program - Change Theory
Strathmore University
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