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The Road Accident Fund is a state insurer established by statute, it provides insurance cover to all drivers of motor vehicles in South Africa in respect of liability incurred or damage caused as a result of a traffic collision. Liability incurred in relation to property damage (such as damage to vehicles, buildings, vehicle contents) is excluded from cover.
Purpose of the Job:
- Reporting to the Manager Financial Accounting, the successful incumbent is responsible for providing accurate financial accounting services through processing of transactions, accumulation and classification of financial data and the creation of financial reports for management and supervision and control of the Accounts Receivable Department
Key Performance Areas
Policy review and implementation
- Contribute to the development and implementation of departmental policy, procedures and processes.
- Keep up to date with effective policy and practice execution strategies.
Interaction with external and internal auditors
- Liaise with external and internal auditors and ensure that audit requirements are met.
- Provide all information requested by the external or internal auditors in the timelines provided.
- Provide assistance to and resolve queries of internal and external auditors promptly and accurately.
Ensure and coordinate General Financial Accounting Administration
- Open and close financial period on SAP.
- Accurately and timeously prepare, review and process monthly journals on SAP.
- Clearing of general ledger control accounts.
- Ensure accurate and complete recording of transactions.
- Review the Trial Balance while the period is still open in order to follow up on any unusual items or where accounting entries have not yet been posted.
- Reverse accruals raised.
- Perform and review monthly General Ledger Reconciliations to ensure that all balances are captured accurately, and variances are resolved timeously.
- Prepare and maintain Journal Files.
- Prepare and maintain General Ledger Reconciliation files.
- Communicate monthly calendar to all parties.
- Assist in the financial system development and implementation.
- Improving on the financial system flow documentation.
- Release transfers: investments and payments for the Treasury department as required.
Reporting
- Generate ad hoc reports for management information and approval.
- Ensure that all reporting is accurate and timely.
- Complete and submit quarterly and annual reporting in accordance with the requirements of:
- RAF policies
- The South African Reserve Bank
- National Treasury
- The PFMA
- Department of Transport
Provide information for and prepare disclosures to the Annual Financial Statements.
Report instances of Financial Misconduct in accordance with RAF policies.
Develop functional reporting systems, for management, projects or performance reporting. Prepare proposals, briefings, presentations, reports, and other documentation and provide management information both verbally and in report format.
Stakeholder Management
- Facilitate and manage communication with relevant internal and external stakeholders and proactively and progressively manage the relationships.
- Manage relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on Time.
- Communicate with all levels of stakeholder contact.
People Management
- Ensure that good employee relations are maintained.
- Provide ongoing operational support to employees.
Provide administration and supervision of the Accounts Receivable Department
- Regular review and adjustment of Accounts Receivable Policies and Standard Operating procedures as required.
- Facilitate the recovery of debts.
- Assess debts for recoverability.
- Prepare requests for the write off of irrecoverable debts for approval.
- Prepare requests for the abandonment of debt for approval.
- Review and submit Acknowledgements of Debt for approval.
Qualifications and Experience
- Bachelor’s Degree/ Advanced Diploma in Finance/Accounting related qualification.
- Relevant 5-7 years’ experience in an accounting environment of which 2 (two) years must have been on supervisory level/area of expertise or Completed SAICA articles
- SAP experience will be an added advantage.
Technical and Behavioral Competencies Required
- Resilience
- Communication
- Working with People
- Network and Alliances
- Planning, organising and coordinating.
- Employee Engagement
- Personal Mastery
- Judgment and decision making.
- Ethics and values.
- Client service orientation.
- Change management
- Conflict management
- Critical and innovative thinking
- Facilitation and presentation skills
- Policy conceptualisation and formulation
- Risk Management
- Programme/ project management
- Service Delivery Innovation
- Stakeholder development and relations
- Reporting
- Business Management
- Knowledge of the PFMA and Treasury regulations
- Firm grasp of Principles of accounting: IFRS and GRAP
- Resource Management
- Professional communication (Written and Verbal)
- Knowledge of financial Software Packages
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