Financial Administrator (Temps) x3 (INSETA 52) at Insurance Sector Education and Training Authority - INSETA

PURPOSE OF THE JOB

• Process creditor payments  to INSETA creditors according to policy, the PFMA and statutory requirements and to provide administrative support to the Finance department.

 
KEY PERFORMANCE AREAS: 
Accounting and Financial Administration Support 50%
OUTPUTS:
Expenditure and Payable Management

• Receive invoice and related supporting documents from different divisions, record these in logs and trackers;
• Check the invoice for validity and accuracy and verify supporting documents (contracts and purchase orders)
• Update Discretionary Grants (DG) contract register as and when contracts are received from Operations division and payments are processed.
• Ensure adherence to PFMA, GRAP and all applicable laws and standards;
• . Process the invoice in the accounting system, ensure accurate GL allocations and submit to Financial Accountant for review and posting;
• Once invoices are posted, process the payment in the accounting system and ensure correct payable GL allocation and correct bank account is used and submit for approval;
• Timeously follow up with divisions and obtain outstanding details where required for payment processing;
• Submit the invoice tracker to Senior Accountants for monitoring of the 30 days payment terms as and when payments are submitted;
• Creation and maintenance supplier master data in the accounting system.

Cash Management

• Ensure payments are exported to the correct bank account
• Review bank statements daily and track unpaid (bounced back payments) and address to ensure payment still within 30 days.
• Prepare cashbook reconciliation weekly for all transactional accounts;
• Follow up on any outstanding/ unreconciled items  transaction required and update on next reconciliation;
• Ensure that banking detail for creditors are updated on an ongoing basis

Other assets and Liabilities management

• Assist with periodic Asset counts

KEY PERFORMANCE AREAS:
General Ledger Reconciliation 40%
OUTPUTS:

• Assist in the preparation of general ledger accounts reconciliations and identify and recommend required amendments and corrections on a monthly basis
• Prepare and submit weekly bank reconciliations to Financial Accountant for approval. Identify and recommend required amendments and corrections on a monthly basis
• Prepare journals in line with policies, procedures, identified corrections and accruals
• Filing of reconciliation reports in line with procedure

KEY PERFORMANCE AREAS:
General Administration in support of Finance Department 10%
OUTPUTS:

• Maintain accurate and complete filing processes
• Provide information from records and database as required by stakeholders
• Provide information requested by internal and external auditors
• Follow up on outstanding auditing requests.
• Execute ad hoc duties and actions as required by the Manager and supervisors
• Identify and communicate any potentials risks within the area of responsibility such as document handling, creditors and bank reconciliations.
• Resolve and follow up on queries and issues with the related stakeholders and creditors.
• Monitor compliance according to Policy
• Distribute documents timeously for processing

REQUIRED QUALIFICATIONS AND EXPERIENCE
Qualifications

• Minimum Requirement: NQF 6 (National Diploma) in Finance/ Financial Accounting / Financial Management/ Business Management or equivalent is required
• Preferred Requirement: NQF 7 qualification in the above mentioned fields or equivalent.

Experience

• Minimum Requirement: A minimum of 1 to 2 years relevant experience in Financial administration and payments in a PFMA environment
• Preferred Requirement: Appropriate experience in the Public Sector environment.

REQUIRED KNOWLEDGE AND SKILLS
Knowledge

• Minimum Requirement: Knowledge and understanding of the PFMA and NT regulations
• Preferred Requirement: Knowledge and understanding of the appropriate legislative and regulatory frameworks. (PPPFA, BBBEE etc.)

Skills

• Minimum Requirement: Attention to detail, ability to work under pressure and meet deadline under challenging circumstances.
• Preferred Requirements: job Specific