Fund Accountant

SUMMARY:
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POSITION INFO:

The Fund Accountant need to manage the day to day accounting duties for a specific bank account. The Fund accountant will be responsible for the management/reconciliations of various general ledger accounts which is reconciled monthly. They will also assist the Senior Fund Accountant with the preparation of the audit workings. They will be doing reconciliation checks during the month to make sure all system transactions are correctly accounted for.

This role will provide an effective and efficient administrative and
support function to the overall Fund Accounting Team within the different silo’s.

RESPONSIBILITIES

Operational Duties:

Banking

• Set up payments on banking, extract bank statements.
• Check that bank statements are updated and bank reconciliations done accurately and on time.
• Cashflow management of funds and forecasting of cash requirements in line with the funds policy/ies.

Accounts

• Preparation of fund accounts in line with the fund/s accounting policies and implementation of any changes.
• Ensure adherence to the Service Level Agreement (SLA) of the fund/s.
• Preparation of all monthly reconciliations (Accounts Receivable & Accounts Payable).
• Preparation and review of monthly /annual working papers relating to ledger accounts (GL).

Investments

• Liaising with fund managers, brokers, and custodians to communicate information and resolve issues on a timely basis.
• Monitor and control investment / disinvestment with the respective Investment Managers.
• Ensure accurate loading of daily and cashflow unit prices.
• • Ensuring Investments are balanced accurately (ALM).

  SARS

  • Submission of monthly EMP201 and Biannual 501 recons.
  • SARS queries and resolution.

  Audit

  • Planning and coordination of the audits to ensure the audit function is executed on a timely and efficient basis.
  • Preparation of audit files and working papers for submission to the Fund Accounting Manager.
  • Preparation of the annual financial statements.
  • Providing responses on audit requirements ensuring all audit issues are resolved, and all compliance issues are met.
  • Implementing recommendations from the auditors.
  • Electronic submission of financial statements to the FSCA.

  Valuation

  • Preparation of member data pertaining to the valuation of the fund/s.
  • Liaising with the actuary for the timeous valuation of the fund/s.
  • Implementing recommendations from the valuator.

  Legislative

  • Responsible to ensure all compliance reporting is submitted within the timeframe.

  Reporting

  • Preparing monthly management accounts, cashflow statements and investment recons.
  • Drafting of the annual budget for the fund/s and monthly tracking of the fund/s income and expenses against the budget.
  • SARB and C48 reporting.
  • Quarterly Reg 28 compliance reporting.
  • Communicate to management with regard to any fraudulent activities and misrepresentation of information.

  Customer

  • Ensure adherence to customer and service provider SLA’s.

  People

  • Assist administrators with accounting issues.

  Competencies required:

  • Excellent analytical and problem solving skills
  • High level of accuracy and attention to detail
  • Must be able to work under pressure
  • Industry knowledge and experience
  • Organisational skills / Planning and prioritising
  • Good Interpersonal skills
  • Cross team collaboration
  • Management of time, must meet deadlines
  • Good verbal and written communication skills
  • Setting personal and career goals

  Qualifications:

• Undergraduate degree/ Retirement Fund qualification.
• Excellent Excel skills, must be able to do V-Lookup, pivot etc.
• FICA awareness training.
• At least 3 years employee benefits / retirement fund administration experience specifically in a similar role.
• A good knowledge of pension fund legislation, (specifically Section 13A), regulations and guidelines.
• Everest experience will be advantageous.
• Good knowledge and understanding of unitisation.
• Good knowledge of Microsoft Outlook and word.
• Excellent numerical skills with attention to detail and accuracy.