Manager: Student Funding Disbursements and Reconciliations at NSFAS

POSITION OVERVIEW:

• To manage student funding payment administration and reconciliations, to enable the provisions of efficient and effective student funding payment management systems and services, quality assurance and reporting, in line with applicable NSFAS policies and legislative requirements.

RESPONSIBILITIES:
Policy, Systems & Procedure Development

•  Participate in the development and management of the finance (disbursement – student funding & reconciliation) policies and standards, guidelines, processes, systems, and procedures, in line with legislative prescripts.
•  Participate in socialising finance (disbursement – student funding and reconciliation policies, standards, processes, and guidelines to internal and external stakeholders for comprehension, implementation and compliance.
• Core Strategic & Operational Objectives Development
•  Enable the implementation of the Finance unit’s strategic plans.
•  Enable the implementation of the key performance indicators (KPIs) and operational plans of the unit.
•  Verify payments to suppliers align with contract and payment terms.
•  Oversee the student funding disbursements and reconciliation’s function ensuring equitable work scheduling and human resource management.
•  Verify that payments to students/stakeholders align with payment cycles.
•  Ensure transactions comply with financial policies and procedures.
•  Maintain general ledger and oversee monthly financial record closing and month end information posting for accurate financial statements.
•  Review supporting documents attached to disbursement requests, ensuring proper approvals, and accurate allocation to students/stakeholders and general ledger accounts.
• Ensure timely payment of students/stakeholders in line with the organisation’s transformational directives.
• Prepare monthly payments reconciliation reports and ensure compliance with related documentation.
•  Submit monthly Cash and bank reconciliation schedules.
•  Prepare monthly reports on irregular expenditure as may be identified through payment validation processes.
•  Prepare and distribute ad hoc, weekly, and monthly financial reports as required by stakeholders and management.
•  Collaborate with external and internal auditors with audit related matters.
•  Handle daily enquiries from internal and external stakeholders, maintaining effective communication.
•  Analyse and follow up on reconciliations/reports in advance, ensuring timely clearing of reconciling items and submission of monthly reporting.
•  Validate and approve invoices for services delivered in line with delegations of authority.
•  Perform the duties of a bank signatory.
•  Perform any other duties assigned by the Senior Manager.

People Management & Ethical Leadership

•  Manage and participation in the recruitment and selection of unit vacancies in line with EE targets.
•  Delegate tasks to subordinates for implementation.
•  Manage the subunit to achieve agreed programmes.
•  Direct, inspire, coach and mentor subordinates to deliver quality programmes in line with NSFAS Values.
•  Manage and participate in leading the individual performance contracting and review process for responsible team/s.
•  Manage and participate in all disciplinary matters of subunits related to performance and conduct issues.

Stakeholder Management & Relationships

•  Manage and participate in the utilisation and implementation of student funding disbursements and payments policy, and other related policies, processes, efficiency channels and databases to satisfy stakeholders needs.
•  Collaborate with internal stakeholders to enable the timely execution of student funding payments and reconciliation requirements.
•  Manage and participate in providing communication between NSFAS, universities, TVET colleges and service providers, where required.

Project Management & Leadership

•  Manage and supervise the applicable projects to address identified needs as per the finance department strategy.
•  Analyse and interpret project reports on completion of the project to evaluate return on investment and to inform decision-making.

Budget optimisation

•  Manage expenditure in line with core activities and projects of the unit.
•  Monitor contract usage spending aligned to the approved budget.
• Compliance Monitoring & Evaluation
•  Manage and participate/delegate in the student funding accounts payable and reconciliation plans and activities of the organisation in line with legislation.
•  Guide and manage the plans and processes that support the implementation of identified key controls and established risk mitigation procedures.
•  Annalise and improve the audit, risk, and compliance outlook.
•  Guide and manage the implementation audit plan.
• Information & Knowledge Management
•  Collaborate with ICT to build systems that enable the management of data obtained from different sources.
•  Collaborate with stakeholders to use their experience, education and understanding to obtain and manage knowledge and information resources of the disbursement environment.

Reporting & Accountability

•  On subunit strategic KPIs progress
•  On operational plan progress
•  On strategic stakeholders’ management issues and interventions
•  On internal and external audit and risk landscape as well as on any other work in the mandate of the disbursement Unit.

DESIRED SKILLS AND EXPERIENCE
Minimum requirements:

•  NQF Level 7 in Accounting, Commercial Sciences, or related fields
•  Computer literacy – Intermediate MS Package Suite
•  Driver’s License
•  7 Years’ experience in an financial disbursements environment of which 2 should be at the management level.
•  Sound knowledge of the higher education environment, NSFAS ACT, National Treasury Regulations, PFMA, NCA, NCR, POPI Act, PIA Act, and Prescription Act.
•  Sound experience in financial services
•  Project Management experience

Preferred

•  NQF Level 8 in Accounting, Commercial Sciences, CIMA, CA(SA), or related fields
•  Computer literacy – Advanced MS Package Suite
•  10 Years’ experience in financial disbursement and reconciliation environment of which 5 should be at the management level.

Skill and Competencies:

•  Strategic and Leadership
•  Project Management
•  Interpersonal Skills
•  Data Analysis
•  Report Writing
•  Presentation Skills
•  Change Management
•  Influential and advocacy
•  Systems and IT flair
•  Stakeholder Management
•  People Management
•  Student Centricity
•  Resilient