Banking and AP Accountant, Soweto

Job title: Banking and AP Accountant (Joburg) Main Purpose:

The role holder has the overall responsibility to function as the first line manager of the accounts payable and banking department to ensure the smooth running of the daily operational requirements of the functions through effective leadership. In this role, the accountant is responsible to lead the daily operational requirements of the banking and AP functions of the company, i.e. check and monitor the quality of inputs and review the outputs for accuracy, validity and completeness through robust internal controls, i.e. monthly preparation and review of bank and AP related balance sheet reconciliations (daily, monthly and quarterly processes).

Key Performance Areas

Manage the daily operations of the banking and AP teams

Drive the daily processing of banking transactions through uploading of statements

Drive the daily processing of TIA related GL entries (Bank, Debtors and other TIA related processing)

Daily matching and clearing of EFT in/Out accounts

Manage the daily cash planning requirements, funding and investing requirements (Transfers, sweepings, investments and disinvestments on a daily basis based on daily requirements from legal entities, UMA's and/or business units (FinOps, RI, IT and other business units) as per the documented process

Manage the bi-weekly AP payment processes to be effective, efficient and timely

Manage the effective, timely and accurate processing and approval of valid local and foreign invoices payments

Ensure validity and completeness through the approval by department heads accompanied by supporting documentation (Payment requisition, authorised invoice and proof of banking details)

Ensure accurate and complete processing, i.e. correct allocation of payments to the correct cost centre as per approved cheque requisitions and accurate VAT treatment (vatable or VAT exempt)

Drive the accurate processing of purchase orders / payments / intercompany transactions regarding the VAT treatment (whether exempt or vatable)

Drive timely payments through timely loading and approval of payments on the FNB portal

Manage the TIA Receipts Allocation Process to ensure that the banking team captures and allocates premium and claims recoveries received to various debtor's accounts according to reference detail received from the credit control team

Capturing and allocation of receipts to be done regularly and timely (with the bulk allocation period being between the 15th to cut-off date of each month)

Escalate and resolve claims recovery rejections with the claims specialist responsible for loading the payments

Investigating and resolving internal queries received from the various stakeholders (credit control team, claims department and underwriting teams)

Monthly review of bank reconciliations

Review all bank reconciliations on a monthly basis within the required timelines

Identify all reconciling items, investigate, follow up on long outstanding items and clear items (items in GL not on bank statement / Items on bank statement not in GL)

Processing of accurate and valid manual journal entries, i.e. bank charges, interest received and cash movements

Monthly review of clearing accounts and other related AP accrual accounts

Investigate and follow up on transactions posted to the TIA clearing account by the finance team

Liaise with the bank regarding transaction queries

Matching and clearing EFT in / EFT out account and liaise with business support to ensure no long outstanding reconciling items

Review of all other AP related control accounts, i.e. AP Accruals, Procurement control account, Trade Creditors

Quarterly Process

Cash movement process– Drive the new daily cash movement process with final journals posted on the 1st WD post quarter‑end

Completion of quarterly bank account dashboard

Project Support

Drive the TIA fixes with Data team (Bank Recon and Debtors Recon)

Investigate and follow up issues on the Claims Payment Control and any other banking or payment related issues

Assist with system enhancement testing (TIA related interfaces)

Support of all other ad‑hoc projects

Staff Management and Leadership

Drive and monitor the team's meeting of objectives

Training and development to be provided

Assess effective utilisation of the overall team's time and reallocation of tasks to the rest of the team with capacity

Regular catch‑up session with team on objectives&monthly formal one‑on‑ones

Stakeholder Support

Liaison with all banks on all bank related matters

Respond and action queries received from the Finance senior management team

Query resolution from internal stakeholders– queries to be actioned and resolved timely (brokers, credit control, claims team and other internal stakeholders)

Minimum requirements

BCOM Degree in accounting

3–5 years working experience in an accounting role (insurance accounting and/or financial services industry beneficial)

Basic financial and business acumen

Basic computer literacy

Understanding of accounting systems and software (beneficial)

Ability to work in a team

Management of all payments (local / foreign / indirect tax payments)

Sound understanding of financial processes

To apply, please submit your CV, as well as your latest payslip, to

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