Fund Accountant

Areas of Responsibilities

• Operational
  • Banking
  • Set up payments on banking, extract bank statements
  • 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.
  • 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.
  • Checking all monthly reconciliations (Accounts Receivable & Accounts Payable).
  • Preparation and review of monthly working papers reating 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.
• Prepare monthly investment reconciliations.
• Ensure accurate loading of daily unit prices
• Ensure accurate loading of cashflow unit prices
• Ensuring Investments are balanced accurately (ALM).
  • SARS
• Submission of monthly EMP201 and Bi annual 501 recons
• 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 Fund Accounting Manager.
• Preparation of the annual financial statements.
• Providing responses on audit requirements ensuring all audit issues are resolved, and all compliance issues are met.
• Implementing recommendations from the auditors.
• Electronic submission of financial statements to the FSCA.

• Valuation

• Preparation of member data pertaing to the 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 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.

• Monitor 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 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.

• Com. Accounting Degree or similar qualification.

• Excellent Excel skills, must be able to do V-Lookup, pivot etc.
• FICA awareness training.
• At least 3 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.