Corporate Financial Specialist

6 days ago

Durban, KwaZulu-Natal, South Africa Datafin It Recruitment Full time
Job Description

As a Scheme Accountant and Reporting Expert, you will play a crucial role in ensuring the accuracy and completeness of scheme-related transactions. Your primary responsibility will be to ensure meticulous recording of all scheme-related transactions within the appropriate reporting timeframe and designated accounts in the general ledger.

Key Responsibilities:

  1. Data Integrity and Validation: You will be responsible for carrying out detailed pre-month end and month-end close off checks to ensure that scheme data is accurate, complete and in the correct reporting period.
  2. You will use exception reports, sales reports, CPS / CPM reports, reports generated by policy administrators, and other reports as applicable to confirm that data is accurate and complete timely to prevent or minimise issues at month end.
  3. You will identify anomalies and problems timely for resolution, and where necessary, escalate these to Policy Admin, Claims or IT for resolution before scheme close off.
  4. You will validate and import claim transactions from external claims administrators for reporting, where applicable.
  5. You will collaborate with Policy Admin, Claims, Finance, and IT to ensure the accuracy and completeness of data prior to scheme close off.
  6. You will ensure that all accounting processes have been smoothly integrated into the data required for reporting and analysis.

Premium Collection, Reporting, Analysis and Disbursements:

  • You will complete and analyse the premium collection file and scheme specific reporting before submission to Business Partners per agreed deadlines and SLAs.
  • You will ensure that single premium invoices sent to dealerships are accurate and reconcile to new business, where applicable.
  • You will ensure that commission and other expenses e.g., printing, re-insurance etc are calculated and reported correctly.
  • You will produce commission and other statements for business partners as per agreed timeframes.
  • You will ensure that disbursements for fees, commission and other expenses and risk reserve payments are accurate and timely and reconcile back to financial reporting.
  • You will resolve all queries relating to commission and other disbursements.
  • You will prepare and submit accounting journals to Finance per agreed deadlines.
  • You will provide quality management information, clearly explaining inconsistencies and variances.
  • You will ensure that all reports submitted to Business Partners are timely, accurately and in the agreed formats.
  • You will actively manage non-collection of premiums through the use of exception reports and by analysing the collections file; escalate anomalies and problems and where applicable cancel policies timely.
  • You will support the premium allocation and bulking processes, where necessary, liaising with banks regarding unallocated deposits, and proactively identifying methods to efficiently rectify errors and discrepancies for financial reporting purposes.

Statutory, Ad hoc and Year End Reporting:

  • You will complete the quarterly data reconciliations and statements required for the SAM returns, where applicable.
  • You will complete the annual data reconciliations and return for submission to the FSCA, where applicable.
  • You will complete the data reconciliations and return for the CBR report as and when required by the FSCA for submission, where applicable.
  • You will produce ad hoc reports or provide information as per business partner requirements.

Customer Experience:

  • You will build and maintain a healthy professional working relationship with the business partner and internal and external stakeholders.
  • You will demonstrate responsiveness in relationships with both internal and external stakeholders.
  • You will resolve queries relating to the Scheme, raised by both internal and external stakeholders, timely and effectively, and where necessary escalate issues timely to ensure effective and prompt resolution in the interests of providing a responsive and professional relationship with their business partners.
  • You will proactively anticipate and resolve issues before they are highlighted by their business partners.
  • You will continually impress their partners and customers by striving to go the extra mile in everything you do.
  • You will check that refunds processed by administrators are calculated correctly, timely and in line with policy wordings.
  • You will provide excellent customer service through on-going engagement, responsiveness and diligent resolution of problems / issues raised by their business partners.
  • You will ensure that the principles of TCF (Treating Customers Fairly) are embodied in processes and practices relating to administration of the Scheme and comply with all applicable legislation and regulations.

Scheme improvements, initiatives and developments:

  • You will pro-actively identify opportunities where you can add value to their business partners in unique and creative ways with the purpose of becoming trusted business partners.
  • You will understand ad-hoc reporting requirements of the business partner and seek to deliver this more efficiently, where applicable.
  • You will continually explore the quality and format of reporting provided to their business partners and seek to enhance this, where applicable.
  • You will seek automation or digitisation options to increase efficiencies, scalability and / or overall experience.
  • In the event of the introduction of new products or additional products to an existing scheme / s, you will ensure the smooth incorporation of these products into the existing database and current reporting processes.
  • In the event of a new scheme take-on, you will assume accountability for developing and structuring the month-end reporting process for the new scheme.

About Us

Datafin It Recruitment is an expert recruitment agency specializing in placing top talent in various industries. We pride ourselves on our ability to understand the needs of our clients and candidates alike.

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