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 transaction processing, recording, reconciliation 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 60% General 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 Adhere to document management processes Expenditure and Payables management Support the review 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 fifteen days.
Monitor preparation of the administration expenditure supplier invoice register to ensure its completeness and accuracy Follow up and resolve queries on delayed invoice payments.
First level review of supplier invoices for validity, accuracy and occurrence before payment Classification of administration and capital expenditure according to the chart of accounts Review of supplier reconciliations First level review of updates to supplier master data Maintain a schedule of administration related liabilities Revenue, receivables and cash management Review of weekly bank reconciliations Maintain a schedule of prepaid expenses, staff receivables and other administration related receivables Maintain a schedule of interest received and other administration related income Identify potential cash surpluses or shortfalls Other assets & liabilities management Lead periodic fixed asset verification/s Maintain an up-to-date fixed assets register Prepare depreciation calculations and relevant journals Reconcile Assets register against TB and GL Budgeting and Reporting 30% Provide input regarding expected administration expenditure and income for future periods as part of the seta wide budget process 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 Report on monthly administrative expenditure against budgets Prepare and submit information required by National Treasury annually (information on bank accounts, financial statements accuracy, surplus requests) Respond to ad hoc requests from parliament (parliamentary questions) Compilation and submission of annual financial statements, interim financial statements and related schedules to relevant stakeholders.
Assist the finance manager/senior finance specialist to provide financial information for inclusion in the annual report.
Progress reporting on action plans against reported internal/ external audit findings Updating of the operational commitment register monthly.
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.
Manage disciplinary and grievance procedures/ escalation of incidents involving immediate subordinates.
Plan and manage immediate subordinates' activities to achieve efficiency in meeting all reporting requirements timeously.
REQUIRED QUALIFICATIONS AND EXPERIENCE Qualifications Minimum Requirement: Grade 12 and NQF level 6 qualification in Financial Accounting, Auditing or equivalent Preferred Requirement: NQF level 7 qualification Accounting or equivalent plus completed articles and a Professional registration with an appropriate accounting body (e.g.
CIMA, SAICA, SAIPA, IRBA) Experience Minimum Requirement: A minimum of 3 years' experience in financial accounting and reporting is required.
Extensive knowledge of Caseware.
Extensive knowledge of Sage 300 Applicable experience in the Public Sector environment including knowledge of PFMA and GRAP.
Preferred Requirement: A minimum of 3 years in financial accounting and reporting environment.
Knowledge of preparation of Annual Financial Statements.
Experience and knowledge in dealing with Auditors (both internal and external).
Experience and knowledge in dealing with internal and external stakeholders as well conflict resolution.
REQUIRED KNOWLEDGE AND SKILLS Knowledge Minimum Requirement: Knowledge and 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, Send your CV and qualifications in your online application No late applications will be accepted.
Closing date: 03 October 2024
