Summary
Overview
Work History
Education
Skills
Certification
Trainingundertaken
Academicreports
Awards
References
Qualificationsaffiliations
Accomplishments
Timeline
Generic

KELVIN SINKAMBA

Lusaka

Summary

Member of the Sanlam Zambia Management Committee-Strategy execution I have excellent skills in financial reporting, financial management and detailed business analysis. I am an excellent team player. Extensive experience in the financial services and motor industry. I thrive on uncertainty and challenges, working way out of my comfort zones. Above all I am a business leader of impeccable professional and ethical conduct

Financial leader with strong track record in strategic planning, risk management, and financial analysis. Adept at driving financial growth through effective team collaboration and adaptive strategies. Known for reliability, flexibility, and results-driven approach. Skilled in budgeting, forecasting, and regulatory compliance, ensuring fiscal health and organizational success.

Overview

14
14
years of professional experience
1
1
Certification

Work History

Chief Financial Officer

LOLC Life Insurance Limited
05.2024 - Current
  • Serving as a business partner to the Chief Executive Officer to drive business initiatives, growth, business strategy, and profitability
  • Providing financial analysis and advice to the executive team to ensure financial considerations are included in strategic decisions
  • Supporting the Board and specifically the Audit and Risk committee through permanent attendance of meetings and regular engagement with Directors and Chair of the Audit and Risk Committees
  • Working with the management team to identify potential risks and threats to the organization’s financial health
  • Assessing risks in likelihood and potential impact and determining the organization’s risk appetite
  • Developing risk management strategies to mitigate or manage identified risks
  • Ensuring the organization has adequate insurance coverage and that risk management policies and procedures are up-to-date and effective
  • Establishing a comprehensive ERM framework to identify, assess, and mitigate financial risks associated with underwriting exposures, investment activities, and operational inefficiencies
  • Overseeing catastrophe modelling and developing reinsurance strategies to mitigate these risks
  • Ensuring adherence to financial reporting standards, solvency capital requirements, and other regulatory mandates
  • Ensuring the organization complies with applicable laws and regulations and maintains a positive reputation with its stakeholders
  • Developing economic forecasts, analysing financial data to identify trends and opportunities, and developing strategies to manage financial risk
  • Working closely with other departments to develop financial plans that align with the company’s strategic goals
  • Developing cash flow projections, managing accounts receivable and accounts payable, and optimizing the organization’s cash position
  • Ensuring accurate financial statements are prepared and reported promptly, in compliance with accounting standards, the company’s act, and other applicable regulations
  • Managing the organization’s relationships with external stakeholders, including investors, lenders, and regulatory authorities
  • Involvement in securing capital through debt issuance or equity offerings to support strategic growth initiatives
  • Leading, developing, and motivating the Finance team to attract, retain, and develop talent, ensuring delivery of business objectives within a high-performance culture
  • Developing an investment strategy that aligns with the company’s risk tolerance and liability profile
  • Managing the company’s investment portfolio, seeking optimal returns on invested premiums while ensuring liquidity to meet claim obligations
  • Exploring alternative investment strategies like private equity or real estate to enhance portfolio returns while managing risk
  • Evaluating and implementing technology solutions that streamline operations, improve risk assessment, and enhance data-driven decision-making
  • Overseeing cybersecurity measures to safeguard sensitive customer data and mitigate cyber risks
  • Analyzed operational issues and implemented corrective action to maximize profits.
  • Oversaw budgets, payroll, and accounts payable and receivable.
  • Completed in-depth analyses of risks to control company profile, enhance systems, and track legal concerns.
  • Directed budget development, creation of budgetary controls and recordkeeping systems and investment management.

Sanlam Management Committee Member

Sanlam Life Insurance Zambia Limited
06.2023 - 06.2024
  • Strategy execution in line with the set strategic objectives
  • Monitoring against set Key performance Indicators
  • Attending meeting as set by the Chairperson of the committee
  • Making recommendations to the executive committee on the best alternatives to achieving the set strategic objectives
  • Collective management, review of, and ensuring operational efficiencies across SLIZ service provision

Acting Chief Financial Officer

Sanlam Life Insurance Zambia Limited
01.2024 - 04.2024
  • Cost management by Instituting monthly actual versus budgeted cost reporting, fostering company-wide awareness of cost management and implementation of cost reduction strategies
  • Redesign finance processes, implement workflow for procurement, asset management and accounts payable using ESS platform and improve TAT for claims processing
  • Reduce the business’s tax risk, engage the tax consultants on tax implications of new products and ensure that finance adopts all group wide finance policies relevant to Zambia
  • Ensure full reconciliation of the balance sheet monthly and timely resolution of internal and external audit findings
  • Ensure that staff have training needs assessment, ensure all staff have balanced score cards/KPIs during the year and that all staff have a personal development plan for the year 2024
  • Strategy-development and implementation with a view to achieving company objectives

Finance Manager-Planning and reporting

Sanlam Life Insurance Zambia Limited
09.2020 - 04.2024
  • Responsible for the management and review of the internal control system including the development of financial policies and manuals to ensure the integrity of Sanlam Life Insurance Zambia financial information, compliance with the law and regulations
  • In charge of monitoring and making recommendations to EXCO on the progress made towards achieving the assigned strategic objectives
  • Responsible for the companywide annual budget administration through consolidation and monthly tracking of the actual expenditure verses budget
  • Manage the yearly audits and preparation of primary annual financial statements/reports
  • Performing quarterly and annual performance appraisals for junior staff in the Finance Department
  • Responsible for the monthly financial close process, through planning, thorough financial analysis, error corrections and passing adjusting entries, preparation of financial statements and regulatory and compliance checks such as tax related entries
  • Responsible for the review of staff and agents payrolls
  • Review/maintain general ledger and cashbooks, monthly journals, and other related postings
  • Prepare month-end general ledger reconciliations (monthly deadline) including intercompany general ledger balances
  • Management of Taxes and regulatory compliance (i.e., WHT, insurance levy, IAZ return, PIA return and levy, PAYE, BOZ return)
  • Oversaw the accounts payable and receivable functions, reconciliations, confirmation of balances, payments, and onboarding processes approvals for suppliers
  • Preparation of the monthly management accounts and presentation to the group
  • Prepare the quarterly board packs which include the following reports: CFO’s report, status of related parties, provisions and reserves and solvency positions
  • Any other tasks as delegated by the Chief Financial Officer

Acting Chief Financial Officer

Sanlam Life Insurance Zambia Limited
01.2022 - 05.2022
  • Successfully completed the 2021 external audit
  • Presented for approval to the board of directors the 2022 annual budget
  • Presented the annual financial statements to the actuarial, audit and risk committee (AAR) for approval
  • Successfully delivered the audited financials to Pension and Insurance Authority (PIA)
  • Successfully delivered the 2021-year end solvency calculation to the regulator, PIA
  • Successfully prepared and delivered Quarter One (1) Board packs to the Board

Financial Accountant

Epiroc Zambia Limited
01.2020 - 09.2020
  • Oversaw the preparation and analysis of the primary statements
  • Oversaw the reviewing of the monthly cost budget variances
  • Oversaw preparing the stock valuation reports and monthly stock counts
  • Responsible for the monthly reporting on Not Invoiced Sales, Cost of Goods Sold, Unadjusted Gross profit, balance sheet and Income statement
  • Performed stock reconciliations (GIT, Finished Goods, Work in progress)
  • In charge of preparing, analysing and submission of the monthly functional costs reports for onward submission and discussion with the Service Manager
  • Check and ensure that the monthly adjustments are done on or before the reporting deadline
  • Responsible for the preparation, updating (capitalisation and disposal) and reconciliation of fixed assets register

Management Accountant

Madison Finance Company Limited
09.2017 - 12.2019
  • Performed quarterly competitor analysis through collection of quarterly market data
  • Preparing Monthly Management Accounts including the primary statements
  • Preparation and analysis of the branch performance (branch profitability)
  • Review of all monthly Investment valuations as performed by the Assistant Accountant
  • Oversaw the annual budget administration -preparation and monitoring by working with other departmental heads/budget holders
  • Preparation of the monthly expense analysis report and submission to budget holders for discussion
  • Oversaw the preparation of board files and papers for quarterly board meetings
  • Working with external auditors to ensure proper and timely close out of both interim and final statutory audits
  • Preparation of the daily income report as a way of assessing the daily income, expenses, provisions movement and system integrity as it relates to proper accruals of the income and expenses
  • Monitoring the monthly management expenses/operating costs by ensuring that they are within the budget
  • Preparation of Cash flow Forecast (daily, weekly, monthly) and analysis of the investment’s opportunities and recommendation to management as part of the treasury duties
  • Checking of Bank reconciliations by ensuring that the bank account balance agrees with that of our cashbook balance otherwise explanations are provided to management by way of schedules to support the differences
  • Preparation of Audit Schedules as an aid to explaining in detail the GL and PL balances

Assistant Accountant

Madison Finance Company Limited
07.2016 - 07.2017
  • Preparation of the daily cash flow forecast
  • Reconciliation and disbursement of Petty cash countrywide
  • Performing bank reconciliations
  • Negotiating exchange rates and maintaining a good professional relationship with principal bankers
  • Responsible for consulting with all banks on all bank account activities e.g., transfers copies
  • Assisted in the other general ledger accounts for reconciliations
  • Performed investment valuations and capturing of entries
  • Tracked all investment income such as and term deposit interest income
  • Performed periodic reconciliations of all loans obtained from creditors
  • Oversaw the liquidity/float requirements for all branches and based on the vault limits

Assistant Manager-Credit operations

Madison Finance Company Limited
09.2014 - 07.2016
  • Assists in enhancing the quality of the loan book through second loan authorisation and safe keeping of post-dated cheques, daily receipting of repayments and timely identification of all unpaid cheques
  • Analysing the portfolio at risk (PAR) greater than 30 days
  • Supervising and training the three credit officers and agreeing on key performance indicators
  • Sending notifications to the recoveries for unpaid instruments
  • Ensure timely provision of weekly reports on all disbursements made and cheques deposited as well as unpaid
  • Consulting with banks on all unprocessed transfers
  • Disbursements of funds to the correct customer account
  • Reducing the company’s credit risk through collated lending

Accountant Payables

CFAO(z) Limited
09.2013 - 09.2014
  • Processing invoices with appropriate supporting documentation and approval, Reconciling Supplier accounts
  • Preparing payment schedules for invoices due for payment for approval and payments processing
  • Contracts management in collaboration with the HR department
  • Handling of Monthly Journals for agreed adjustments/postings
  • Matching off supplier’s accounts
  • Creation of Suppliers Accounts, verification of details and posting of supplier invoices

Accountant Debtors

CFAO(z) Limited
03.2011 - 09.2013
  • Debt management/collection and reconciliations
  • Establishing strong relationships with existing (new) debtors
  • Enter into settlements agreements with defaulting clients experiencing cash flow Challenges
  • Follow up on unretired imprest by members of staff
  • Setting credit limits and strict adherence
  • Stock take
  • Petty cash postings
  • Cash report management including expected maturities on our Investment Portfolio
  • Cash Accounts Consolidation-Country wide
  • Actual random cash checking with the cashier

Assistant Accountant (Casual)

Kobil Zambia
12.2010 - 03.2011
  • Bank reconciliations between both foreign and local currencies
  • Data entry
  • Filling
  • Cashiering in the absence of the cashier

Lecturer

Career Track-Tuition Center
08.2010 - 12.2010
  • Courses Taught Included (ZICA Program): Advanced Financial Management, Management Theory and practice, Advanced Management Accounting, Advanced Financial Reporting

Education

Bachelor's degree - accounting

CBU

PHD - Business Management

01.2026

MBA - Management strategy

UNZA
05.2023

Skills

  • Strong interpersonal skills
  • Organizational skills
  • Analytical skills
  • Excellent verbal communication skills
  • Excellent written communication skills
  • Culturally diverse environment adaptability
  • Team orientation
  • Problem-solving skills
  • Judgement skills
  • Data driven decision-making skills
  • Confidentiality
  • Deadline orientation
  • Attention to detail
  • Self-motivated
  • Tenacity
  • Strong financial acumen
  • Strong commercial acumen
  • Knowledge of IFRS
  • Knowledge of accounting standards
  • Knowledge of regulations
  • Experience managing financial operations
  • Experience managing financial processes
  • Proficient in financial software
  • Proficient in Microsoft Office applications

Certification

  • Global leadership training-CIMA Singapore
  • CaseWare software
  • Credit Risk Assessment for Credit Risk Analyst-EIB and Frankfurt School of Finance and Management
  • Understanding robotic process Automation-AICPA Expiry 2021
  • CGMA-Digital Mindset-AICPA-Expiry 2021

Trainingundertaken

  • Credit risk Analysis-Frankfurt school of business
  • Mitigating credit risk
  • Customer protection policies
  • Financial modelling in excel
  • Customer service –in house
  • Safety Health and Environmental Quality (SHEQ)

Academicreports

  • Empirically assessing the relationship between the Environmental, Social, Governance (ESG), Firm and market performance, PHD (UNZA), 11/30/26
  • A study of the impact of external debt on economic growth in Zambia, MBA Management strategy (UNZA), 05/01/23
  • Money Laundering: The case of Stanbic Bank Zambia limited, B. Acc (CBU)

Awards

Managing Director’s Employee of the Year Award, 2017

References

  • Mr. Valentine Chola Kabonga, Finance Director, Aller Aqua Zambia, Siavonga, V.Kabonga@aller-aqua.co.zm, +260 966 450 550
  • Mr. Idreen Malambo, Managing Director (Former Chief Financial Officer), Madison finance Company Limited, Lusaka, Idreen@mfinance.co.zm, 0977597197
  • Mr. Freddie Kandiwo, Head Credit Management (Former Head of Credit), Madison Finance Zambia Limited, Lusaka, Freddie.kandiwo@finca.co.zm, 0976302064
  • Mr. Arthur Bwalya, General Manager (Former Chief Accountant), CFAO (z) Ltd, CFAO Zambia/Vehicle Centre-Ford Lusaka, abwalya@cfao.com, 0979430072

Qualificationsaffiliations

  • PHD in Business Management, 2023-2026
  • MBA-Management strategy, UNZA
  • Chartered Global Management Accountant (CGMA)
  • Associate- Chartered Institute of Management Accountants (ACMA)
  • Association of International Certified Professional Accountants (AICPA)
  • Bachelor's degree in accounting, CBU
  • Associate ZICA, A006597

Accomplishments

    Employed to start up the Life insurance Company ,Head office is in Sri Lanka. • I have prepared the Five-year financial plans consisting of the statement of financial position, Income statement, operating expenses, capital expenditure ,cashflow projections after developing the key financial assumptions and the financial strategy, and they are approved by the board of directors. • I have designed the end-to end companywide processes including processes for the effective reporting with regards to management accounting and Financial reporting. Trial balance mapping, output-reports design and third-party system integration to enhance operational effectiveness and efficiency. • Responsible for the entire procurement process including sourcing for the system vendors, Actuaries, external auditors and other vendors. • I have developed the companywide Accounting policies and procedures such as those relating to revenue recognition,expenses,fixed assets, treating customer fairly, Anti-money Laundering and terrorism financing and the Enterprise Risk management(ERM ) further breaking down the ERM into internal control policies, operational risk management policy. • Successfully contracted, developed and implemented the accounting and policy administration system in conjunction with the system vendor,Axxis. • I have prepared the five-year companywide strategy within the five themes of Product development, brand visibility, driving business growth, cost effectives and efficiencies and second to non-customer experiences .

Timeline

Chief Financial Officer

LOLC Life Insurance Limited
05.2024 - Current

Acting Chief Financial Officer

Sanlam Life Insurance Zambia Limited
01.2024 - 04.2024

Sanlam Management Committee Member

Sanlam Life Insurance Zambia Limited
06.2023 - 06.2024

Acting Chief Financial Officer

Sanlam Life Insurance Zambia Limited
01.2022 - 05.2022

Finance Manager-Planning and reporting

Sanlam Life Insurance Zambia Limited
09.2020 - 04.2024

Financial Accountant

Epiroc Zambia Limited
01.2020 - 09.2020

Management Accountant

Madison Finance Company Limited
09.2017 - 12.2019

Assistant Accountant

Madison Finance Company Limited
07.2016 - 07.2017

Assistant Manager-Credit operations

Madison Finance Company Limited
09.2014 - 07.2016

Accountant Payables

CFAO(z) Limited
09.2013 - 09.2014

Accountant Debtors

CFAO(z) Limited
03.2011 - 09.2013

Assistant Accountant (Casual)

Kobil Zambia
12.2010 - 03.2011

Lecturer

Career Track-Tuition Center
08.2010 - 12.2010

PHD - Business Management

MBA - Management strategy

UNZA

Bachelor's degree - accounting

CBU

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