|Location||Umhlanga, South Africa|
Accounting & Finance
Our client, based in Umhlanga seeks to appoint a Scheme Accountant, to join their team.
The successful incumbent will ensure that all transactions relating to the scheme are recorded completely and accurately in the correct reporting period, and within the correct accounts in the general ledger.
Provide the Business Partners with accurate, complete, reliable, and value-adding financial reporting, financial analysis and insight relating to the financial status of the schemes administered. Job Duties Data Integrity and Validation
- Ensures that scheme data is accurate, complete and in the correct reporting period prior to embarking on financial reporting by carrying out detailed pre-month end and month end close off checks.
- Uses exception reports, sales reports, CPS/CPM reports, reports generated by policy administrators, and other reports as applicable to confirm that data is accurate and complete timely to prevent or minimise issues at month end
- Identifies anomalies and problems timely for resolution, and where necessary, escalates these to Policy Admin, Claims or IT for resolution before scheme close off.
- Validates and imports claim transactions from external claims administrators for reporting, where applicable
- Collaborates with Policy Admin, Claims, Finance, and IT to ensure the accuracy and completeness of data prior to scheme closes off.
- Ensure that all accounting processes have been smoothly integrated into the data required for reporting and analysis Premium Collection, Reporting, Analysis and Disbursements
- Completes and analyses the premium collection file and scheme specific reporting before submission to Business Partners per agreed deadlines and SLAs.
- Ensures that single premium invoices sent to dealerships are accurate and reconcile to new business, where applicable.
- Ensures that commission and other expenses e.g., printing, re-insurance etc are calculated and reported correctly.
- Produces commission and other statements for business partners as per agreed time frames.
- Ensures that disbursements for fees, commission and other expenses and risk reserve payments are accurate and timely and reconcile back to financial reporting.
- Resolves all queries relating to commission and other disbursements.
- Prepares and submits accounting journals to Finance per agreed deadlines.
- Provides quality management information, clearly explaining inconsistencies and variances.
- Ensures that all reports submitted to Business Partners are timely, accurately and in the agreed formats.
- Actively manages non-collection of premiums through the use of exception reports and by analysing the collections file; escalates anomalies and problems and where applicable cancels policies timely.
- Supports the premium allocation and bulking processes, where necessary, liaising with banks regarding unallocated deposits, and proactively identifying methods to efficiently rectify errors and discrepancies for financial reporting purposes. Statutory, Adhoc and Year End Reporting
- Completes the quarterly data reconciliations and statements required for the SAM returns, where applicable.
- Completes the annual data reconciliations and return for submission to the FSCA, where applicable.
- Complete the data reconciliations and return for the CBR report as and when required by the FSCA for submission, where applicable.
- Produces adhoc reports or provides information as per business partner requirements. Scheme improvements, initiatives, and developments
- Pro-actively identifies opportunities where we can add value to our business partners in unique and creative ways with the purpose of becoming trusted business partners
- Understands ad-hoc reporting requirements of the business partner and seeks to deliver this more efficiently, where applicable.
- Continually explores the quality and format of reporting provided to our business partners and seeks to enhance this, where applicable
- Seeks automation or digitisation options to increase efficiencies, scalability and/or overall experience.
- In the event of the introduction of new products or additional products to an existing scheme/s, ensures the smooth incorporation of these products into the existing database and current reporting processes
- In the event of a new scheme take-on, assumes accountability for developing and structuring the month-end reporting process for the new scheme.
- B Comm. or equivalent national diploma in Finance/Accounting
- Minimum 2- 3 years previous related working experience in a corporate entity – Insurance/financial services industry will be Advantageous
- Advanced Excel – Essential
- Good understanding of claims - Advantageous
Interested candidates can send their CV