Manager: Support Accounting, Card and Payment Solution - Mercantile Bank Ltd, Sandton

  • Sandton
  • Salary: Market Related
  • Job Type: Permanent
  • Posted by Mercantile Bank Ltd on Tuesday, April 16, 2019
  • Reference: 1547298
  • Employment Equity Position
  • Apply before Friday, May 31, 2019 - 40 Days left

Vacancy Details

Employer: Mercantile Bank Ltd

PURPOSE OF THE ROLE:

Management of the accounting functions and to ensure compliance with processes and procedures with regards to: 

§  Card Issuing Business;

§  Acquiring Business;

§  Electronic Services;

§  Group Companies and Mercantile Support Divisions;

§  Fixed Assets & assets awaiting capitalization;

§  Compiling VAT journals, also the review and submission in respect of Mercantile Bank and Mercantile Group Companies and liaising with SARS

 

KEY DELIVERABLES/OUTPUTS

1.    People Management

§  Responsible for inspiring, motivating, leading and managing the team

§  Responsible for the recruitment, development and retention of relevant skills in order to meet the business needs

§  Ensure the effective selection of employees by matching the skills and competencies to the requirements of the job

§  Ensure skills assessments and competency-based training takes place as and when required

§  Creates an environment in which learning and development are emphasized

§  Takes personal responsibility for coaching and mentoring others

§  Effectively delegates authority and responsibility, in line with business objectives, to ensure the empowerment, motivation and effectiveness of all direct and indirect reports

§  Promotes a culture where the 4 pillars of the bank are seen to be ‘alive’

§  Encourages team members to express their views, resolves issues raised by the team, escalate issues if required, and provides feedback to teams on an ongoing basis

§  Develops and maintain an open communication channel with direct reports and supports employees to foster greater co-operation and teamwork

§  Monitors and manages the performance and development of employees within the area.  This includes regular one-on-one feedback sessions, conducting mid-year and final performance appraisals, as well as the moderation and relative distribution of all appraisals for the team

§  Drives the talent review sessions and succession planning in conjunction with head of support service unit

§  Foster the transformation of the workplace and supports business in the achievement of the attaining the Employment Equity targets for the bank

§  Ensures employees are appropriately and consistently rewarded and recognized for their achievement and outputs

 

§  Ensures that disciplinary action and grievances are addressed and aligned to the bank’s policies and procedures

2.    Accounting and other functions

§  Journal reviews and monthly journal checks and the uploading of Journal entries. Review Cash book related journal entries and ensure that all cashbook entries have been captured;

§  Ensure that all Mercantile Group Company accounts are reviewed and finalized & monthly tax/deferred tax provision raised;

§  Obtain source system data and reconcile to the accounting records on daily basis.

§  Review both subordinate’s and Card Operation’s & Electronic Services reconciliations and report any discrepancies to the Manager: General Ledger Accounting

§  Reconcile and prepare journal entries in order to balance Payment Solution Banking suspense accounts and ensure effective control on daily basis.

§  Review of monthly income & expense general ledger accounts for Card & Alliance Partners and prepare journal entries to correct (adhere to IFRS).

§  Provide guidance to Card Operations to ensure effective controls over journal entries, which will result in effective settlement/funding management.

§  Review all daily reconciliations pertaining to Product Suspense clearing and report discrepancies and long outstanding items to the Manager: General Ledger Accounting;

§  Preparation of journal entries in order to balance Product Suspense clearing BaNCS General Ledger Accounts per BaNCS Core to general ledger, journal review for Manager: General Ledger Accounting before processing;

§  Managing the recovery of expenses by means of invoicing from related parties, where Mercantile act as agent/principle settlement bank (Issuing, Acquiring & Electronic Services) or as required on an ad hoc basis to any other i.e. Bankseta training recoveries, Commercial/Retail Clients, IT recoveries, etc;

§  Liaise with Fraud department in respect of Fraud and Loss and ensure completeness of Fraud provisions;

§  Assist the Finance reporting team in investigations, as well as other information required for reporting purposes;

 

§  Review all reconciliations and journal entries pertaining to the Card, Acquiring, Electronic Services, Subsidiaries and support divisions and ensure that differences are resolved immediately;

§  Assisting divisions and divisional reporting with queries and the budgeting processes on relevant support divisions and involve subordinates in the process;

§  Assist subordinates in dealings with counterparties, and obtaining relevant information;

§  Assist relevant divisions in the allocation of invoices, also considering budget and project cost accounting and reporting;

§  Assess and implement VAT compliance and managing accuracy and completeness of VAT entries on monthly basis i.e. Direct VAT, Apportionment entries, VAT on Imported Services, Fixed assets VAT Capitalisation, VAT Input accounting by Creditors/ GL entries and VAT output accounting from Subsystems /GL entries, etc. This includes VAT reasonability that needs to be done on a monthly basis

§  Management of leased assets and cost existing assets and supervising the fixed assets function by obtaining reconciliations and to ensure differences are resolved immediately (control of quarterly Fixed asset physical verifications)

§  Ensure that all new purchases are capitalised in the General Ledger at the correct values and assigned to the correct asset categories and business units;

§  Clear distinction is made between items below limits and capital in nature items;

§  Fixed assets accounts are reconciled monthly;

§  Ensure all assets awaiting capitalization are reconciled to invoices & other supporting schedules and all reconciliations prepared & reviewed monthly;

§  Calculations of costs for assets split across multiple cost centre’s are correct;

§  Expense accounts are reviewed to establish if items are capital or expense in nature & correcting entries passed;

§  Facilitate physical verification of assets and circulation of Fixed asset registers to business Heads to confirm that assets are physically present;

§  Ensure monthly purchases file are updated & reviewed.

§  Annually compile and submit fixed assets registers split/forecast according to budget requirements.

§  Managing of lease contracts i.e. Rentals at branch level and also the invoicing of rentals to parties within the Mercantile premises and also ensure that leases are accounted in terms of IFRS 16;

§  Managing and accounting of the Referral commission received from Commrisk Insurance Brokers (Pty)Ltd;

§  Validate the Interest calculation and ensuring that payments are effected accordingly for the Standard Bank Bond;

§  Preparation of journals and management of Fleet Cost Management by ensuring monthly vehicle fleet costs are calculated correctly and cost allocated to correct cost centre;

§  Manage the insurance claims in conjunction with Risk division to ensure that funds have been received for submitted insurance claims;

§  Preparation of monthly reconciliations for all General Ledger accounts controlled to be finalized with supporting documentation and ensure that these are submitted for the monthly audit files;

§  Prepare a report on all suspense accounts, current and legacy and provide commentary on unexpected movements, and forward to all relevant parties

§  Performing analytical review of accounts monthly & enquiring as to validity of the movements in accounts;

§  Prepare financial notes for Mercantile Bank Group as required. This includes monthly income statement variance analysis notes to be forwarded to the Manager: General Ledger Accounting;

§  Backup as signatory to release Creditors payments.

§  Backup for Manager: Product Accounting

 

 

3.  Developments on Prime sub system and processes and procedures

§  Liaise with the Prime IT team and keep abreast of all changes to the Prime sub system

§  Assist in the implementation and testing of changes, which would influence financial reporting

§  Identify areas which can be improved/ automated to obtain better efficiency, as well as accuracy of financial information and follow the correct process to implement these

§  Attend meetings between Card division, IT and/ or alliance partners, and Electronic Services to ensure the relevant information is correctly reported

§  Assess and Implement proper financial controls and processes for new Issuing & Acquiring & Electronic Services partners in terms of agreements/ contracts with them

§  Ensure compliance with the processes and procedures in place, and report any discrepancies to the Manager: General Ledger Accounting

§  Identify areas which can be improved/ automated to obtain better efficiency and follow the correct process to implement these.

 

4.    Ability general ledger upload files, and support on the system

§  Act as a back-up for the Manager: General Ledger Accounting on the Ability system, including formatting and forwarding of journals, reset of users, specific journal uploads and running of averages

§  Assist in Ability general ledger developments, requests and testing

5.            Any other duties required from time to time. 


Candidate Requirements

QUALIFICATIONS/ EXPERIENCE:

Minimum formal education or NQF equivalent:  

B.Comm Accounting Honours

Experience:

3 Year Managerial Accounting experience in financial institutions and/or completed audit articles

 

KEY COMPETENCIES (Skills, knowledge and personal attributes)

 

·         Sound understanding of accounting principles

·         Compliance with Bank policies and procedures, IFRS and relevant legislation requirements.

·         Keep up to date with changes and comply with alliance partner agreements/ contracts

·         Excellent planning and organisational skills.

·         Display technical expertise and pro-actively apply theory to improve and evaluate processes.

·         Ability to supervise/manage subordinates

·         Customer focus

·         Building strategic working relationships

·         Team player

·         High level of accuracy

·         Computer Literacy - advanced level of proficiency in Excel, Word and Email (Outlook)

 

·         Knowledge of Card, Acquiring and ATM settlement processes advantageous

 

This position reports to: Manager: General ledger accounting Apply before Friday, May 31, 2019 - 40 Days left Companies may expire jobs at their own discretion. If you have not received a response within two weeks, your application was most likely unsuccessful.
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About Mercantile Bank Ltd

Mercantile Bank provides a wide range of international and domestic banking services to SME (Small, Medium Enterprises), Commercial and Alliance banking Markets in South Africa through highly personalised relationships and tailored banking solutions. 

Mercantile Bank is a wholly-owned subsidiary of Mercantile Bank Holdings, whose major shareholder is Caixa Geral de Depósitos S.A. - based in Portugal.  Mercantile Bank (Ltd) has been listed on the Johannesburg Stock Exchange for 11 years and is one of 6 clearing and settlement banks.

We offer our staff the opportunity to experience high levels of personal and career growth as a result of wide exposure to different aspects of banking.

Mercantile Bank Limited.   Registration No 1965/006706/06
An Authorised Financial Services and Credit Provider NCRCP19