Product Recons Administrator at Silica

Job description

Educational Requirements (Educational / academic qualifications)

Bcom Accounting Degree compulsory

Key Performance Areas: (Specific Description of the job)

Handle Operational functions:

Recons:

• Perform daily reconciliation of the DARA Control accounts and follow up on the outstanding recon items and
• queries
• Perform daily reconciliation of the Bank accounts for submission of a daily/monthly bank reconciliation and following up on any outstanding recons items and queries.
• Perform a reconciliation of Recoveries on a monthly basis.
• Dealing with queries from the Client and resolution thereof within client service levels, and if unresolved escalate to the Team Leader. Address escalations timeously.
• Liaise with Internal & External Auditors and handle their queries
• Perform and submit monthly packs which consist of a Trial Balance, Bank recon, Balance Sheet, Income Statement, Cashflow statement, Unallocated deposits, AUM schedule, Exits listing and Membership recon.
• Conduct testing where there are LOB changes and upgrades to ensure that the output is correct
• Ensure daily and monthly reporting on recon deadlines is met within SLA
• Drive automation where possible across recons and reporting
• Working with the Business Change team to solve business problems and implement continuous improvement
• To ensure that all communication both telephonically and written is delivered in a professional manner
• To analyse back logs and derive definitive plans to mitigate and resolve
• Client/Supplier interaction:
• Preparation of related reporting (Trial Balance, Bank recon, Balance Sheet, Income Statement, Cashflow statement, Unallocated deposits, AUM schedule, Exits listing, Membership recon and Ageing) for the clients’ monthly packs
• Preparation of daily reporting for Unallocated Deposits and Bank reconciliations
• Develop and maintain strong relationships with the appropriate people at clients
• Liaise with Internal & External Auditors and handle their queries
• Provide support for other teams in the business unit
• Internal/External Reporting
• Preparation of Monthly Age Analysis
• Preparation of month end Risk Reporting
• Preparation of monthly Trustee Financial Reporting packs
• Preparation of Annual Financial Statements for audit purposes
• Preparation of quarterly client specific reports in terms of ASISA reporting (K23, IRR, ACI reporting) and Annual Annuity Reporting and SARB
• Preparation of quarterly Regulation 28

Prior Work Experience / Background:

• 3 years experience on accounting software (eg. DARA BANK Recon) or electronic reconciliation systems
• Knowledge of Collective Investments and/or LISP industry
• Experience in Retirement Fund
• Experience and knowledge specifically in Product ( Employee Benefits) reporting and accounting

Technical / Special Requirements (PC Skills / Product Knowledge / Specific Competencies)

• Strong capture skills with a high accuracy rate
• Collective Investment Scheme and LISP knowledge
• Solid Pension Funds Act knowledge and being up to date with changes to legislation and the impact thereof on Retirement Funds and the reporting thereof
• Understanding of the regulatory requirements of voluntary products, retirement products and life products
• Strong Reconciliation experience
• Sound financial control skills and ability to manage error rates including root cause analysis to reduce errors
• Knowledge of various taxes (PAYE in relation to annuities, Capital Gains Tax, Dividends Tax, etc)
• Understand Silica business processes and related knowledge of processes affecting Tax, Cash Man and Product Accounting
• Understand internal/external reporting processes.
• Computer Literate
• Understanding of Banking transactional systems
• Understand Cash/Banking Platforms like Nedbank, FNB Online etc.
• Knowledge of AWD would be advantageous
• Advanced Excel skills