Financial Compliance Specialist

2 weeks ago

Midrand, Gauteng, South Africa Congruence HR Solutions Full time
Job Description:

Congruence HR Solutions seeks a highly skilled Financial Compliance Specialist to join our team. As a key member of our finance department, you will be responsible for maintaining accurate financial records, processing transactions, and ensuring compliance with South African financial and tax regulations.

Key Responsibilities:
  • Financial Transaction Recording:
    • Audit and record all financial transactions, including accounts payable, accounts receivable, payroll, and bank transactions.
    • Ensure that transactions are properly classified in the general ledger.
  • Reconciliation:
    • Reconcile bank statements, credit card accounts, and other financial records to ensure accuracy.
    • Monitor and reconcile petty cash accounts.
  • Financial Reporting:
    • Prepare monthly, quarterly, and annual financial statements (balance sheets, income statements, cash flow statements) in accordance with South African accounting standards.
    • Generate reports to help management make informed financial decisions.
  • Payroll Processing:
    • Process payroll, ensuring correct deductions for tax (PAYE), UIF, and SDL (Skills Development Levy).
    • Ensure compliance with the Basic Conditions of Employment Act (BCEA) and Labour Relations Act (LRA) in payroll and reporting.
    • Submit SARS reports for payroll taxes.
  • Tax Compliance:
    • Ensure compliance with South African Revenue Service (SARS) requirements for VAT, PAYE, UIF, and other taxes.
    • Assist in the preparation of tax returns and other compliance reports, including the use of SARS eFiling.
    • Stay updated on changes in tax laws and ensure the business is in full compliance.
  • Accounts Payable and Receivable:
    • Monitor outstanding invoices and ensure timely payment to suppliers.
    • Track overdue accounts and follow up on receivables.
    • Ensure customers' payments are processed and recorded correctly.
  • Budgeting and Financial Planning:
    • Assist with budgeting and financial forecasting by providing accurate financial data.
    • Support the preparation of financial documents and reports for business planning.
  • Maintaining Financial Records:
    • Safeguard all financial documentation and ensure that it is stored properly and securely.
    • Prepare for audits and ensure the accuracy and completeness of financial records for internal and external audits.
  • Cash Flow Management:
    • Monitor the company's cash flow and advise management on potential improvements.
    • Ensure there is sufficient cash to meet day-to-day operational needs.
  • General Administrative Support:
    • Assist in general financial administration tasks as required by the management team.
    • Collaborate with the finance team to ensure smooth financial operations.


Required Skills and Qualifications:
  • Education:
    • Matric (Grade 12) with Accounting as a subject.
    • A Diploma in Accounting, Finance, or a related field is highly desirable.
  • Experience:
    • Proven experience as a bookkeeper or in a similar accounting role (preferably in South Africa).
    • Experience with South African accounting standards and tax laws is essential.
  • Technical Skills:
    • Proficiency with accounting software such as Pastel, QuickBooks, or Sage.
    • Familiarity with SARS eFiling, payroll systems, and VAT compliance.
    • Advanced knowledge of Microsoft Excel and other financial reporting tools.
  • Knowledge:
    • Strong understanding of South African tax regulations, including PAYE, VAT, UIF, and SDL.
    • Knowledge of financial reporting and bookkeeping best practices.
    • Familiarity with IFRS for SMEs and other South African accounting standards.
  • Skills:
    • Strong attention to detail and accuracy.
    • Excellent organizational and time-management skills.
    • Ability to work independently and as part of a team.
    • Strong verbal and written communication skills.
    • Analytical skills to identify discrepancies and suggest improvements.

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