Financial Accountant at IDC

Qualification and Experience

• Bachelor's/post-graduate degree in Financial/Management accounting
• CA(SA) would be advantageous
• Minimum of 5-8 years’ PFMA experience in Financial services, the public sector and DFI’s
• Experience dealing with internal and external auditors.
• Knowledge and experience of the SAP system required
• Experience in preparing financial statements on SAP DM would be advantageous

Roles and Responsibilities

• Preparation of the notes to the Consolidated Annual Financial Statements.
• Ensure that all internal subsidiaries financial statements are timeously prepared and  comply with IFRS.
• Liaison with both internal and external auditors.
• Preparation of VAT returns for internal subsidiaries.
• Day-to-day checking of payment proposals, journal postings and invoice processing.
• Preparation of reconciliations, financial information analysis and commentary, and general ledger closure.
• Prepare quarterly reports submitted to National Treasury and Reserve Bank.

Daily and Monthly duties:

• Posting transactions into the SAP system.
• Checking, and releasing IDC payments (accounts payable process).
• Processing and performing leave pay provision and payroll journals and reconciliations.
• Performing staff debtors’ reconciliation.
• Performing intercompany journals and reconciliations.
• Executing sundry income and staff debtors’ recovery processes.
• Preparing audit fee provisioning.
• Preparing provision for incentive bonus, non-pensionable allowance and long-term  bonus journals reconciliations.
• Preparing retirement medical aid provision journals and reconciliations.
• Preparing VAT201 returns for internal subsidiaries.
• Preparing the imported services register.
• Raising various invoices for client fees and sundry income.
• Preparing the director emoluments confirmations.
• Processing capital transfers from debtors to loans.
• Allocating receipts of monies from FASSET, IDC pensioners, I Do Care payroll, creche, Cash Management for corporate gifts and access cards and sundry income invoices.
• Checking payment proposals, transfers of monies between various bank accounts  and daily money market deals.
• Authorising bank charges, municipal invoices and statements.
• Validating vendor roles on SAP.
• Allocation of Guardrisk money received and payment to Guardrisk for IDC  Pensioners’ insurance.
• Perform ad-hoc tasks for Manager: Financial Management and other departments.
• Attend various meetings on behalf of the manager and provide feedback.

Quarterly duties:

• Perform National Treasury financial reporting (PE48, N01, N02, MTEF), Reserve Bank reporting (F02 and F04).

Interim and Year end duties:

• Ensure completion of internal subsidiary trial balances for group consolidation.
• Assist in drafting and sending out letters to all associates and subsidiaries, as well as following up on outstanding letters at interim and year end consolidation process.
• Assist in verifying the intercompany confirmations received from external subsidiaries.
• Assist in performing elimination and consolidation entries in the consolidation model.
• Assist in the preparation of the Annual Financial Statements notes.
• Assist with the preparation of IAS 28 investments in associates and joint ventures.
• Accounting for accruals, including dividends.
• Be a 1st – level reviewer in other notes to the interim and annual financial statement.
• Assist in financial results presentations and analysis (abridged financial statements, CFO reports, commentary, analysis, going concern assessments, share portfolio reporting etc.)