Fund Accountant

4 days ago

Sandton, Gauteng, South Africa IDC Full time R1 000 000 - R2 000 000 per year

Synopsis

Financial reporting and management of the 3rd Party Funds that IDC Manages or Administers.

Qualification and Experience

  • Degree in Accounting or related field

  • CA(SA) qualification advantageous

  • 5 years' experience in the private or DFI space with strong IFRS experience

  • Knowledge of public sector regulations and PFMA experience – Desirable

  • Experience with IFRS 9 and accounting for expected credit losses – Desirable

  • Experience dealing with internal and external auditors and stakeholder management

  • Relationship building skills – stakeholder management skills

  • SAP & SAPDM Skills – desirable

Roles and Responsibilities

Key functions of the position include:

Daily Tasks

  • Acting as checker, releaser for IDC payments (AP process)

  • Acting as poster for all Fund related transactions into the SAP system

  • Calculating expected returns for funds in line with the funds department and maintaining the same in SAP

  • Assisting with ad-hoc tasks as requested

  • Prepare or review for posting the journals and duly authorised payments

  • Review payment proposals

  • Provide financial support and advice to fund managers

Monthly Tasks

  • Cash updates to Fund Managers including inflows, disbursements, commitments (Monthly Dashboard)

  • Provide financial support and advice to fund managers

  • Updating or reviewing of the interest on IDC company as well as on each Fund

  • Reconciliations of Cash balances of for 3rd party funds

  • Review and posting the journals and Funds payments

  • Reporting on 3rd party funds and cash balances for the IDC company

Roles and Responsibilities (cont.)

Quarterly Tasks

  • Recording IMC adjustments (ECL) to Funds that extend loans (MCEP, KIPP, CTFLGP etc.) as ECL runs are completed

  • Quarterly financials update (Quarterly dashboard) for fund reporting by fund managers to relevant departments

  • Monitoring of all collateral relating to Funds that disburse loans

Annual Tasks

  • Annual preparation of financials in accordance with relevant accounting framework

  • Managing the external audit of each of the funds (and liaising with loans, FAV, CSG, Risk departments) for necessary input

  • Keeping all loan related funds up to date in terms of IFRS 9, day 1 calculations, modifications etc.

  • Preparing the annual cash balance confirmations for the IDC Audit

  • Manage the impairment and fair value of financial instruments

Job Reference: IDC00637

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