Payments Administrator at Rand Mutual - RMA

About the Job

The job at a glance

1. As a Payments Administrator, you will be responsible for assisting with the administration functions within the financial department for Claims, Commissions, Funeral and Pension payments. You will also be responsible for uploading payment reconciliations, reporting and actioning incoming queries.

What will you do?

Payment Processing

• Generate and update Claims, Funeral and Pension Payment Runs
• Ensure Claims Funeral/Commissions/Pension /Medical expenses remittances are scheduled with every payment run
• Conduct daily authorizations on Claims Daily balancing
• Increase Customer Satisfaction by auctioning queries within agreed SLA
• Adhere to internal controls on an ongoing basis
• Action Rejections for Pensions, Funeral Commissions and Claims
• Action Reversals for Pensions, Funeral, Commissions and Claims
• Create PACS payment files
• Upload payment files on FNB
• Upload Creditors banking details on FNB for manual payment
• Upload manual payment for Claims, Pensions, Funeral and Commissions on FNB
• Upload manual forex payment for Claims and Pensions on FNB
• Validate and authorize Client banking details
• Balance and pay Commission payments
• On-board brokers by creating broker specific folders, ensuring that agreements are signed, scheme appointment letters are presented and that categories on the agreements are as per the FSCA, and obtain and file proof of banking
• Keep and maintain records of payments and accounts
• Keep records and files of all accounts
• Reconcile accounts after payment run
• Generate and submit CV Values (Capitalized Value) for pensions

Funds Allocation:

• Action the workflow on Pension Debtor
• Timeously pay and correctly allocate Claims, Funeral /Pension /Commissions/Medical
• Clear and correctly allocate Debtors on reversals
• Capture Recovery Receipts in Compcare system
• Allocate recovery receipts in Compcare system

Reconciliations:

Reports:

• Accurately load payment and receipt information is onto General Ledger ensuring accurate Financial Reports,
• Report on allocated activity
• Download Recoveries and Quantum Documentation for External Attorney`s on cases reported and submit to the Legal Team
• General Daily Estimates report and conduct a summary of the funds to ensure available funds in bank accounts before payments made on the following day

Adhoc Duties and ICT Systems:

• Conduct testing on IT defects
• Test new or enhanced ICT systems (related to an participate in project requirements to build new systems
• Create Standard operational process flows (SOP)
• Display strategic competencies as per RMA Competency Framework
• Display RMA Values as measured by 360 Values Survey
• Complete Individual Development Plan of 95% Planned vs. Actual
• Support the Team Leader during Internal Audits by providing documentation for the process. Ensure that audit findings are kept to a minimum.
• Any ad hoc duties

What you'll bring to the table?

• NQF Level 5: Higher Certificate in Finance or related field Minimum
• 3 - 4 years' experience
• Excel Advanced

What will you get in return?

• We offer great opportunities for personal and professional development in a stable company that’s 128 years strong. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in the office). Furthermore, you will be a part of a dedicated group of colleagues who value teamwork and collaboration.

Turnaround time

• The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. Kindly note that should you not receive a response within 21 days please consider your application unsuccessful.

Our Commitment to transformation:

In accordance with the employment equity plan of Rand Mutual Assurance and its employment equity goals and targets, preference may be given, but is not limited, to candidates from under-represented designated groups.

• NQF Level 5: Higher Certificate in Finance or related field Minimum
• 3 - 4 years' experience
• Excel Advanced