Management Accountant III (Parktown) at The Aurum Institute

Work Description

• The Senior Management Accountant will be responsible for completing the financial aspects of one or more projects within the organisation.
• This role ensures that all project finances are accurately managed, reported, and aligned with both internal policies and external donor requirements. The Senior Management Accountant is accountable for the financial planning, analysis, and reporting functions within the projects they are assigned to.
• This role plays a crucial part in ensuring the financial health and sustainability of the organization’s projects by providing strategic financial insights, managing the budgeting process, and ensuring compliance with donor requirements.
• The Senior Management Accountant will provide essential support to the Finance Manager and will work closely with the project teams, and other key stakeholders to support informed decision-making and effective financial management.

Technical Work Responsibilities:

Financial Management & Reporting:

• Monitor project expenses, ensuring they are within the approved budget and in compliance with donor guidelines.
• Compile and process journals and reallocations as needed, following management review and approval.
• Gather supporting documentation from various departments, such as HR and Procurement, to ensure accurate record-keeping of project transactions.
• Approve petty cash and other project-related expenses according to the responsibilities of a management accountant and escalate to the line manager when required for higher levels of authorization.
• Conduct detailed variance analysis and provide explanations for budget vs. actual discrepancies.
• Ability to prepare financial reports and present them to the line manager for review and explanation.
• Prepare and present financial forecasts, highlighting potential risks and opportunities.
• Oversee and manage all project-related financial activities, including budgeting, forecasting, and financial planning.
• Prepare, analyze, and present accurate financial reports, statements, and project budgets to management and donors.

Budgeting & Forecasting:

• Develop and maintain project budgets, ensuring alignment with project objectives and organizational goals.
• Conduct regular budget reviews and forecasts, identifying and addressing potential financial risks or variances.
• Assist project managers in budget reallocations and modifications as needed.
• Manage the annual budgeting process, working closely with project managers and department heads to develop accurate and realistic budgets.
• Ensure all budgets align with organizational goals and donor requirements.
• Monitor budget adherence and recommend adjustments as necessary.
• Support the preparation of budget redirections and justifications for donor approvals.
• Provide insightful financial commentary and recommendations to senior management.
• Ensure accurate and timely submission of financial reports to donors and other external stakeholders.

Grant Management:

• Ensure compliance with donor agreements, including financial reporting and budget management.
• Prepare and submit financial reports to donors in accordance with grant agreements.
• Track and report on grant expenditures, ensuring that funds are utilized appropriately and within the grant period.
• Manage the funder year-end financial close processes.
• Implement and monitor internal controls to safeguard project funds and assets. Ensure compliance with all relevant financial regulations, internal policies, and donor requirements.
• Monitor financial controls and implement process improvements to mitigate financial risks.

Audit & Compliance:

• Support internal and external audits by preparing and providing necessary documentation and explanations.

Documentation & Record-Keeping:

• Maintain comprehensive and accurate financial records for each project.
• Ensure all financial documentation is properly filed and easily accessible for audit and review purposes.
• Prepare and maintain all necessary documentation for financial transactions, including journals processed, invoices, receipts, and contracts. 

Requirements

Education

• A Finance-related Degree: minimum Bachelor’s degree from four-year College or University

Advantageous

• A Business degree
• A CIMA/ CA(SA) qualification or studying towards

Experience

• Minimum of five years related experience and/or training: or equivalent combination of education and experience in a Financial environment as a Management Cost Accountant
• Knowledge of applicable Legislation

Requirements

• SA Citizen or valid work permit to work in South Africa
• Drivers Licence
• Own Car
• Minimal/Moderate/Excessive overnight travel (up to 30%) by land or air if required
• Willing to work overtime

 Skills and Attributes

• Strong understanding of accounting principles and financial management
• Proficiency in accounting software and MS Office applications, particularly Excel
• Excellent analytical, organizational, and problem-solving skills.
• Strong attention to detail and the ability to manage multiple tasks simultaneously
• Ability to work under pressure and meet deadlines
• Effective communication and interpersonal skills, with the ability to work collaboratively with diverse teams
• Integrity and a commitment to the mission and values of the NGO.
• Ability to adapt to changing circumstances and priorities.