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Management Accountant _ Finance Operations

Hollard Recruitment
Johannesburg Parktown , Gauteng Gauteng, South Africa
Closing date
Apr 15, 2024

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Job Role
Contract Type
Full Time
Manage policy accounting for the on-platform Policy Administration System (PAS). Communicate monthly LOB results, including operational insights from the support functions, claims, and revenue departments.

Overall, on platform policy accounting, maintain up-to-date policy accounting mapping and system reports to validate the accuracy of policy accounting journals. To ensure an efficient month-end process where journals are prepopulated with minimal manual changes.

Balance sheet management: Manage the reconciliation of policy accounting transactions to ensure alignment between the ledger and LOB. Follow up on reconciling items in a timely manner and resolve within agreed-upon timelines.

Maintain a robust internal control system where all policy transactions are mapped to accounting entries and design exception reports to identify missing transactions.

Team management - setting and monitoring of team performance targets. Ensure adequate training and development opportunities are afforded to staff.

Manage cash book process and ensure smooth payment process within SLA and timely reporting of cash books sheet accounts with no movement are monitored and escalated to relevant heads of department.

Release of manual payment within the SLA timelines

Key Responsibilities

Finance Operations - Line of Business System (LOB)
  • Manage Preparation and posting of LOB month-end journals. Review and approve Journals, ensuring that journals are prepared within reporting timelines
  • Reconciliation of LOB to General ledger. Follow up on reconciling items and resolve them within the agreed SLA times.
  • Reconciliation of On Platform LOB Income Statement journals to detailed policy listing.
  • Maintain up-to-date documented process flow and GL mapping for the on-platform books.
  • Analyze the month-end results compared to insights from Ops teams, such as claims and revenue.
  • Manage year-end and internal audits and ensure adherence to internal controls, procedures, deadlines, and regulatory requirements.
  • Comparison of On Platform LOB key accounts (GWP, Claims, and Commission) in line with policy movement report to ensure reasonability of LOB results
  • Monthly reconciliation of cash book clearing accounts against the collection dashboard or debit order batch file and claims report
  • Provide support to Reporting Teams in obtaining policy reports for their monthly ARs, such as movement in lapses.
  • Analysis of policy movement to confirm if the PAS has applied business rules as designed
  • Provide finance input on onboarding the new partners, system migration, and cost center updates.

Regulatory Reporting
  • Manage reporting of policy movement for Conduct of Business Reporting (CBR) to FCSA
  • Maintain a daily dashboard for tracking cash deposits higher than prescribed cash transactions

Process Improvement and Automation
  • Continuous improvement of LOB transactions still requiring manual adjustment before posting to the ledger.
  • Review the unposted and unmapped transactions to ensure these are kept to the minimal
  • Developing relationships with all Stakeholders, internal and external
  • Collaborate with revenue, claims, and IT teams on system reconciliation findings and ensure recon queries relating to policy allocations and payment queries are addressed in a timely manner.
  • Add value to Operations teams by ensuring timely communication of system issues identified through finance Ops processes and reconciliation.

Cash books
  • Ensure that manual policy payments submitted to finance are paid within 4 hours
  • Review FTI mappings when the team signs off with GP support
  • Maintain a timely reconciliation process for all cash books accounts, ensuring that clearing accounts are reconciled timeously
  • Manage partner reporting cash book and set up SLAs with the reporting team

Team Management Planning and support of the year-end audit process
  • Develop KPA for the team that is linked to the delivery objective of the finance ops
  • Provide training and support and timely action

Planning and support of the year-end audit process
  • Assist auditors in their audit by providing explanations/ supporting documents.
  • Ad hoc attendance at business meetings (as requested)

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