Role Overview
The Fund Accounting Manager is responsible for the full accounting function of the Funds. The manager must be able to investigate and apply expertise to data with an intended objective to deliver on accurate reporting. The manager must be innovative and implement key internal controls and improve on processes. The manager must be able to be solution driven and ensure excellent stakeholder communication. The manager must ensure reporting requirements are met within the time.

Operational Duties:

        Banking

• Review and set-up of users online banking access.
• Checking and approving payments, including benefit claims.
• Check that bank statements are updated and bank reconciliations done accurately and on time.
• Cashflow management of funds and forecasting of cash requirements in line with the funds policy/ies.
• Oversee and enhance the relationship with the fund/s bankers.
• Manage the Hyphen process.

        Accounts

• Oversee and manage existing system controls and introduce new enhancements to streamline workflow and mitigate risk factors.
• Preparing and maintaining standard operating procedures.
• Development, implementation and management of effective financial controls.
• Preparation of fund accounts in line with the fund/s accounting policies and implementation of any changes.
• Ensure adherence to the Service Level Agreement (SLA) of the fund/s.
• Review all monthly reconciliations.

• Preparation and review of monthly working papers relating to ledger accounts (GL).
• Ensuring that all systems in the department are in a working condition.

Investments

• Liaising with fund managers, brokers, and custodians to communicate information and resolve issues on a timely basis.
• Monitor and control investment / disinvestment with the respective Investment Managers.
• Ensure accurate loading of daily unit prices.
• Ensuring Investments are balanced accurately (ALM). Review the ALM.
• Manage the Finswitch process.

SARS

• Ensure the submission of monthly EMP201 and Biannual 501 recons are done on time.
• SARS queries and resolution.

Audit

• Planning and coordination of the audits to ensure the audit function is executed on a timely and efficient basis.
• Checking of audit files and working papers for submission to the auditors.
• Review of the annual financial statements.
• Providing and reviewing responses on audit requirements ensuring all audit issues are resolved, and all compliance issues are met.
• Implementing recommendations from the auditors.
• Ensure the electronic submission of financial statements to the FSCA within the required time.
• FSCA queries and onsite / desktop reviews.

Valuation

• Preparation of member data pertaining to the valuation of the fund/s.
• Liaising with the actuary for the timeous valuation of the fund/s.
• Implementing recommendations from the valuator.

Legislative

• Provide oversight and play a leadership role in the Compliance Management function to ensure that:
• the company compliance framework and policies are properly embedded and implemented in the business.
• there is regular reporting on compliance breaches and progress on mitigation and management plans.
• administrative penalties as a result of compliance breaches are minimised.
• Manage the performance of Compliance operational activities within Salt EB to minimise compliance risk through adherence to policies, procedures, and guidelines and in accordance with regulatory requirements.
• Working closely with the senior Management to ensure that all key risks are identified and are adequately communicated to the relevant business owners.

Reporting

• Preparing monthly management accounts, cashflow statements and investment recons.
• Drafting of the annual budget for the fund/s and monthly tracking of the fund/s income and expenses against the budget.
• Provide relevant information for the preparation of fund/s board packs.
• SARB and C48 reporting.
• Ensure that quarterly Reg 28 compliance reporting is accurate.
• Communicate to management with regard to any fraudulent activities and misrepresentation of information.

Customer

• Ensure adherence to customer and service provider SLA’s.

People

• Assist administrators with accounting issues.
• Develop a high performing team by embedding formal performance development and informal coaching. Implement talent acquisition, engagement and recognition process in line with this.
• Assist the team with queries
• Effective team management and coordination of financial activities at all levels.
• Headcount and retention
• Succession planning
• Coordinating and approving the team’s leave
• Training and Development
• Innovation, learning and growth
• Improving the internal controls
• Prepare training manuals used in the team
• Preparing and assessing of staff KPA’s

 

 

Competencies required:

• Accept accountability of the fund accounting tasks
• Excellent analytical and problem-solving skills
• Good verbal and written communication skills
• Must be able to work under pressure
• Industry knowledge and experience
• High level of accuracy and attention to detail
• Organisational skills / Planning and prioritising
• Good Interpersonal skills
• Cross team collaboration, motivating the team
• Management of time, must meet deadlines
• Managing productivity and efficiency in the team
• Setting personal and career goals

Qualifications:

• Undergraduate degree/ Retirement Fund qualification.
• Excellent Excel skills, must be able to do V-Lookup, pivot etc.
• FICA awareness training.
• At least 4 years employee benefits / retirement fund administration experience specifically in a similar role.
• A good knowledge of pension fund legislation, (specifically Section 13A), regulations and guidelines.
• Everest experience will be advantageous.
• Good knowledge and understanding of unitisation.
• Good knowledge of Microsoft Outlook and word.
• Excellent numerical skills with attention to detail and accuracy.