Accountant: Finance Support needed at Road Accident Fund

Key Performance Areas

Management of claims payment process

• Verify and approve claims payments in line with DOA by confirming the accuracy, validity ,completeness and existence of a payment by inspecting supporting documentation to confirm the following: 

           – Payee to the trigger and supporting documents (per above).

           – Banking details to both the trigger document and any supporting documents.

• Resolve duplicates within 5 working days and take appropriate corrective action.
• Report on appropriate actions to be followed on fruitless and wasteful expenditure incurred as well as advising on ways of preventing or reducing fruitless expenditure.
• Ensure that the turnaround times for the submission of batch per expectation/requirement is done within the 5 days’ timelines after being received from finalisation.
• Maintain and develop good relationship with claimants, attorney firms and staff members.
• Ensure continuous implementation and improvement of internal controls for claims payments.
• Follow up on all outstanding batch payments at finance.
• Attend to queries and discrepancies in relation to missing payments within the finance department.
• Ensure that all payments submitted to Treasury at Head Office are processed as per batch serial numbers.
• Ensure that payments that have discrepancies/queries are returned to finalisation Department.
• Reconcile finalisation payment reports against EA for approvals.

Financial Management including bank and cash management

• Implementation of and adherence to financial management principles to ensure valid, accurate and complete payments pertaining to petty cash.
• Effective internal controls and compliance to required supporting source documents (i.e receipts, deposit books etc).
• Follow up on reconciling items to ensure timeous resolution.
• Ensure that all petty cash transactions captured and saved on SAP, are in the correct accounting period.
• Review monthly petty cash reconciliations reports, check supporting documentation and ensure that they are submitted to treasury (HO) on a monthly basis.
• Ensure timely banking of cheques and cash received as per policy.
• Ensure that deposit breakdowns are allocated in the correct bank accounts and general ledger.
• Perform petty cash counts.
• Monthly reporting relating to Petty Cash.

Reporting

• Contribute to the preparation and submission of Regulation reports.
• Aid in the development of functional reporting systems, for management, project or performance reporting.
• Report regularly and periodically, perform necessary submissions as and when required to provide progress updates and/or inform management decisions.

Compliance, Monitoring and evaluation

• Monitored service delivery of claims payment function.
• Ensure that fallout reports on claims payments are investigated and actioned timeously.
• Monitor claims payments (from request, to batching, to payment) and manage exceptions.
• Deal with claims payment queries and ensure resolved timeously.
• Ensure appropriate implementation of and adherence to Policies and procedure.

Stakeholder Management

• Aid in proactive and progressive relationships with key stakeholders.
• Deal with inquiries and requests for information from both internal and external stakeholders.
• Aid in the maintenance of relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on time.

Qualification

• Bachelor’s degree/ Advanced Diploma in Finance/Commerce/Accounting related qualification

Experience

• Relevant 4 years’ experience in a financial environment.
• SAP experience will be advantageous.

Technical and behavioral competencies required

• Reconciliation experience
• Knowledge of Financial management
• Knowledge of the Public Finance Management Act
• Knowledge of Treasury Regulations
• Computer literate – knowledge of Microsoft, financial and accounting software packages
• King IV
• Knowledge of Corporate Governance 
• Cash and bank management
• Speed, accuracy and accountability
• Planning, Organising and Coordinating.
• Personal Mastery.
• Judgement and Decision Making.
• Ethics and Values.
• Client Service Orientation.