Financial Accountant- Grants at Insurance Sector Education and Training Authority - INSETA

KEY PERFORMANCE AREAS - OUTPUTS 

Financial Accounting 70%

Discretionary grants

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.

 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.

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

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 National Diploma  in Financial Management/Auditing/ Financial Accounting 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 Management/Auditing/ Financial Accounting
• 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).