Financial Accountant- Grants x3

4 weeks ago

Sandton, South Africa Inseta Full time

 PURPOSE OF THE JOB

Responsible to support the Financial Manager in the implementation of INSETA financial processes and policies in achieving INSETA strategic Financial Objectives, in line with the PFMA.

Responsible to execute on all Financial Accounting processes including controls within the finance division including budgeting, transaction processing, recording and reporting, financial performance reporting (internally and externally), Revenue and Expenditure Management in line with PFMA and GRAP.

Responsible to identify operational risk indicators within Finance, in line with PFMA regulations and applicable legislation.

Key Performance Areas

Outputs

Financial Accounting                   70%

  1. Discretionary grants

1.1.   Commitments register

  • Ensure that all contracts are fully signed, properly dated and witnessed by delegated officials.
  • Ensure that the start and end dates on the contract have been properly recorded in the commitment register.
  • Update the commitment register with new contracts immediately on receipt of an accurate contract.
  • Review and perform recalculations of all addendums and closure letters, and update the commitment register
  • Update the commitment register with payments/ expenditure timeously
  • Perform validations of the commitments register with the operations division monthly and whenever necessary.
  • Keep and manage all records used to update the commitment register items.

1.2.   Expenditure and Payables management

  • Review and post payment batches and all supporting deliverables of all expenditure transactions ensuring that payments to be made are valid, accurate, complete.
  • Implement and execute processes and controls to ensure that payments are made within 15 days.
  • Monitor preparation of the administration expenditure supplier invoice register to ensure its completeness and accuracy.
  • Follow up and resolve queries relating to payments in line with the prescribed turn-around times.
  • Ensure that classification of discretionary and project administration expenditure according to the chart of accounts.
  • Perform DG external confirmations of expenditure and payables to ensure completeness of financial statements.
  • Prepare payables reconciliations and follow up any outstanding invoices and resolve unreconciled item within prescribed timeframes.
  • 2.       Mandatory grants

·       Assist with preparation of the mandatory grants’ payment batch

  • Follow up with Skills division and employers on outstanding documents required to process MG payments.
  • Perform Individual employer reconciliation for top 20 and communicate with employers.
  • Perform MG external confirmations of payables to ensure completeness of financial statements.
  • Handle mandatory grants queries timeously and effectively
  • 3.      General

·       Actively assist with compilation of RFI’s from Internal and External auditors and handle audit queries.

  • Implement accounting policies in line with the legislative guidelines and the relevant financial reporting framework.
  • Prepare all periodic returns and reports to DHET & National Treasury for review and submission by the legislated dates
  • Implement approved finance policies and operating procedures.
  • Monitor the financial administrator’s compliance with approved financial policies and procedures.
  • Support the review of all accounting records monthly and ensure accuracy of transactions posted.
  • Adhere to document management processes
  • Attend to any ad hoc requests from management

Reporting 20%

  • Prepare report on payments within 15 days for tabling at MANCO meetings.
  • Prepare report on commitments for tabling at various management meetings.
  • Compilation and submission of DG related schedules for the Interim and Annual Financial statements.
  • Implement appropriate reporting practices in line with GRAP and PFMA regulations.
  • Assist with the reporting on Financial Performance to the CFO
  • Compilation and collation of monthly management reporting supporting information
  • Prepare and submit information required by National Treasury annually (information on bank accounts, financial statements accuracy, surplus requests)
  • Assist the finance manager to provide financial information for inclusion in the annual report
  • Progress reporting on action plans against reported internal/ external audit findings

People Management 10%

  • Develop and monitor division staff KPA’s and performance management, coaching and mentoring initiatives.
  • Identification of required skills and competency gaps
  • Train and develop individual staff members in terms of the performance improvement plans.
  • Plan and manage immediate subordinates’ activities to achieve efficiency in meeting all reporting requirements timely
REQUIRED QUALIFICATIONS AND EXPERIENCE

Qualifications

Minimum Requirement:  Grade 12  and NQF level 6 qualification in Financial Accounting, Auditing, Public administration or equivalent

Preferred Requirement: NQF level 7 qualification in Accounting, Auditing, Public Administration or equivalent.  Completed articles and a professional registration with an appropriate accounting body (e.g. CIMA, SAICA, SAIPA, IRBA) will be an advantage.

Experience

Minimum Requirement:  

A minimum of 3 years’ experience in Financial Accounting/ Grants Administration

Experience in finance with contract management knowledge is required.

Preferred Requirement: A minimum of 3 years in financial accounting environment.

Applicable experience in the Public Sector environment including knowledge of PFMA and/or GRAP.

Experience and knowledge in dealing with Auditors (both internal and external).

REQUIRED KNOWLEDGE AND SKILLS

Knowledge

Minimum Requirement:

Knowledge in contract management.

Preferred:

SAGE accounting system or any related accounting system

GRAP standards

Understanding of the PFMA and NT regulations

Skills

Minimum Requirement: Attention to detail, ability to work under pressure and meet deadline under challenging circumstances.

Advanced computer skills include Microsoft excel, power point presentation and high level of written and verbal communication.

The ability to analyse situations and to arrive at the best possible solution

 The Insurance Sector Education and Authority (INSETA) is an equal opportunity employer committed to Employment Equity and diversity with opportunities afforded in line with the approved Employment Equity Plan. 

Preference will be afforded to candidates from under-represented designated groups and people living with disabilities. 

INSETA reserves the right not to make an appointment and correspondence will be limited to shortlisted candidates only. All appointments are subject to vetting processes. 

If you meet the above requirements and wish to apply, submit your CV and qualifications via the website. 

No late applications will be accepted.

Closing date: 11 October 2024

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