Senior Financial Accountant

We are looking for a
Senior Financial Accountan
t to assist our Finance Team.

What makes us excited to come to work each day?

Thousands of people spend most of their days working and living in our buildings; at Africrest we believe that our actions have a large snowball effect on the economy and society. When we manage our buildings extremely well, our tenants are that much happier and more productive.

You will be part of:

A company that owns one of the largest middle income residential portfolios in South Africa and has become an industry leader in this asset class.

We give people an incredible opportunity to live in the best areas with world class common area facilities, at affordable rentals. This helps create an inclusive society.

We own and manage a commercial portfolio of office, retail and industrial buildings. We ensure that our tenants are able to work in a great environment, so that they can focus on growing their business which in turn helps improve the economy.

The Africrest team does not settle for satisfactory, rather we strive to do everything in a great manner- from small tasks to large projects. If you want to be part of a company and culture that drives you to be the best you can be, then please get in contact with us.

We reward great efforts:

Over the last 2 years, we have been one of very few companies, where over 95% of our employees, received:

• A bonus of more than a 13th cheque.

• An inflationary related annual increase.

When many other companies have not paid bonuses or increases.

We are different:

At Africrest we don't "pigeonhole" by fostering an environment of curiosity and collaboration, we encourage our team to strive for excellence within their role and to continually seek out innovative solutions to improve current business functions which maximises their own professional growth as well as Africrest's continued growth.

We encourage potential employees to speak to our employees to see why people enjoy working at Africrest.

The ideal candidate is an excellent team player with great attention to detail.

Position Purpose and Profile:

The Senior Financial Accountant plays a pivotal role in the financial success of the company by maintaining the company's accounting processes, records and financial data. This position is responsible for ensuring the accuracy and integrity of the financial data of the company which is the basis on which the financial decisions of the are made.

Responsibilities:

Include, but not limited to the below:

Key attributes required while performing duties:

• Strong attention to detail and accuracy.

• Efficient – utilise automated processes and systems over manual processes.

• Ability to work independently and manage multiple tasks and deadlines.

• Strong initiative-taker who takes ownership of tasks.

• Excellent problem solving and analytical skills.

• Effective communication and interpersonal skills

• Organisational and administrative skills.

• Ability to adapt to a variety of environments and work demands.

• Ability to maintain a high level of sensitivity to company needs.

• Willingness to work additional hours as the demands of the job might indicate.

• Great teamwork and willingness to assist other team members where necessary to ensure the team as a whole is able to fulfill their responsibilities and commitments.

Monthly Responsibilities:

• Processing of cash clearances on the second working day of the month.

• Preparation of allocated monthly financial journals in line with month end calendar.

• Review and analyse monthly movements in the general ledger to:

o Identify accruals and prepare the relevant journals.

o Ensure accuracy of allocations and prepare re-allocation journals between properties and

companies where required.

• Ensure no transactions are processed in the general ledger of sold properties.

• Review and analyse the balance sheet to:

o Ensure accuracy of allocations and prepare re-allocation journals between properties and

companies where required.

o Prepare balance sheet reconciliations where applicable.

• Prepare cash balances report on the 26th of each month, and as and when required by the

Head of Finance or Financial Managers.

• Prepare actual vs budget variance report per property, on 26th of each month, which feeds

into the monthly cashflow forecast.

• Intercompany loan reconciliations - maintain, analyse, and investigate inter-company loan

balances. Prepare re-allocation and or correction journals between properties and companies

where required.

• Analyse cash book allocations and ensure that these are recorded correctly with liaison with

Creditors Team. Prepare re-allocation and or correction journals between properties and

companies where required.

• Fixed asset maintenance including:

o Review and anlayse expense accounts to determine that items which should have been

capitalised have been capitalised.

o Capitalise additions on the MDA fixed asset module.

o Run monthly depreciation journal on the MDA fixed asset module for posting in the

MDA accounting module.

o Capturing disposals or scrapping of assets on the MDA fixed asset module.

o Reconcile fixed asset register per the MDA fixed asset module to the Trial Balance.

• Preparation of income statement movement analysis for submission to Head of Property by

working day twelve.

• Prepare actual vs budget variance analysis report per property and resolution of all queries

raised in the analysis prior to submission for review to Financial Manager's by the 20th of the

month.

• Prepare monthly management accounts macro (Income Statement & Balance Sheet).

• Assistance with preparation of covenant reporting for review by the Financial Manager's by

the 22nd of the month.

• Ensuring section 18A donation certificates are obtained and saved for all donations paid

during the month.

• Proactively seek and implement improvements and efficiencies in accounting processes and

reporting.

Quarterly:

• Preparation of supporting schedules which feed into the quarterly Board reporting.

• Preparation and importing of quarterly interest payments to funders.

Annual Responsibilities:

• Preparation of schedules which feed into provisional one, provisional two and final income tax submissions, which include but is not limited to:

o Tax wear & tear schedules.

o Net income forecasts.

o Other supplementary schedules and information as required.

• Preparation of year end audit folders.

• Liaising with auditors to provide requested information and address audit queries timeously.

• Preparation of budget templates per property in line with budget timeline.

• Maintain adequate filing requirements according to departmental guidelines.

Adhoc duties as and when assigned:

• Prepare and finalize property adjustment accounts for sold properties.

• Ad hoc involvement in creditor reconciliations and other ad hoc reconciliations.

• Ad hoc involvement in Finance projects.

• Distribution to the Creditors Team of allocations for the processing of funds drawn from

Funders.

Minimum Job Qualifications Required:

• In-depth understanding of Intercompany loans, including balancing thereof and calculation of

interest. (required).

• Excellent understanding of accounting principles and financial reporting standards. (required).

• Advanced Excel Skills – ability to demonstrate skill. (required).

• BCom Accounting degree (required).

• Minimum 4 years' experience in an accountant role (required).

• Completion of articles with an audit or financial advisory firm (preferable).

• Property Accounting experience (preferable).

• MDA Property Manager accounting software (preferable).