Vacant Positions at Old Mutual

Job Description

This role is individually accountable for achieving results through others, over periods of 3 months to a year. The focus is the following: This role implements accounting processes, systems and controls for the PF products and is responsible for product profitability analysis. The Product accountant role is required to maintain a strong financial control environment within the PF Finance team over the PF products. The incumbent would need to generate financial information from the applicable systems and to liaise with other teams that feed information that have shareholder impact to prepare reports with commentary on the variances to be delivered internally within the cluster and to the group

Role Description:

• Generates internal management reports.
•  Develops, reports on and interprets cost drivers, KPIs and benchmarks.
• Provides commentary on financial results and implications and advises on corrective action to be taken. 
• Interacts with business unit line managers on financial outcomes, expense trends, balance sheet trends, etc.
• Emphasis of the role is on interpretation and predictive results. 
• Supports the execution of a business plan.
• Accountable for governance and compliance at an operational level.
• Generates financial information.
• Analyses and reports on variances.
• Maintains suitable financial control environment. 
• Responsible for audit liaisons as per tax, legislative and statutory requirements.
• Provide input into BP/FC as required 
   

Key Result Areas: 

Financial Analysis:       

• Provides commentary on financial results and implications and advises on corrective action to be taken.
• Develops, reports and interprets cost drivers, KPIs and benchmarks. 
• Emphasis of the role is on interpretation and predictive results.
• To ensure that all the financial accounting transactions, are accurately and timeously reflected in the general ledger.
• Perform an analysis of the Assets Under Management (AUM), Net Client Cash Flows (NCCF) and other Key Performance Indicators (KPI’s)
• Monitor & reports on the status of all control accounts within the business unit. Drive action with the responsible parties to clear reconciling items.
• Analyse intercompany balances and action settlement on a monthly basis.
• Research and prepare variance analysis and explanations
• Perform Balance sheet account reconciliations
• Perform an analysis of the change in Policyholder Assets and Liabilities and Claims/Premiums behaviour.

Financial Control:         

• Maintains suitable financial control environment.
• Review of the monthly financials over both (Shareholder & Policyholder) for the assigned asset class
• Analysis and reports on variances.
• Responsible for audit liaisons as tax, legislative and statutory requirements.
• Implement the necessary processes and controls as a result of changes in the business or changes to administration platforms and accounting systems.
• Assists in the implementation of IFRS17 & SAT (new product launch & migration)

Governance & Compliance:   

• Accountable for governance and compliance at an operational level.
• Accountable for the execution of business plan.
• Responsible for financial control design and assessments on the Data Control Tool (DCT). 
• Liaise with auditors & internal governance team for control reviews.

Management Reporting:          

• Generates internal management reports.
• Interacts with business unit line managers on financial outcomes, expense trends, balance sheet trends
• Manage own reporting requirements on the assigned asset classes 
• Drives & collates monthly submission of reports and commentary within the agreed deadlines.
• Produces ongoing and ad-hoc reporting based on requirements from business unit, Central Finance and other stakeholders.
• Support projects such as the implementation of new products and IFRS standards
• Assist in providing support for the Regulatory Reporting (SAM) submissions as well as quarterly submissions.
• Adhoc Management requests

Fund Accounting Business Partner:     

• Ensure product fund accounts team delivers on all required outputs (journals, extracts, reports and recons) for Product Fund Accounting purposes for Life Products
• Business Partner for the Product Fund Accounts for PF Life Products, responsible for providing methodology and assumptions

Team Effectiveness:     

• Individually accountable for others time, tasks and output quality, over periods of three months to a year.
• Balances own priorities with directing and motivating others.
• Plans & assigns work over periods of three months to a year.
• Guides and directs staff to achieve operational excellence standards.
• Creates a climate for optimal performance.
• Manages performance. 
• Selects potential staff to sustain customer/ client service delivery.

Job Requirements:

•  Relevant Finance Degree /Diploma 
•  Experience in Financial Services Industry is preferable
•  Strong Excel knowledge
•  Strong information monitoring and analytical skills
•  Oracle knowledge is preferable