Bank and Cash Manager

Rand Mutual - RMA; Johannesburg; Hybrid; ZAR 200,000 - 300,000; Full time

Job summary

A leading mutual assurance company in Johannesburg seeks a Bank and Cash Manager to oversee cash flow management, ensuring timely reconciliations and operational continuity. The ideal candidate has 3-5 years of finance experience with strong analytical and communication skills. A competitive salary and benefits are offered, alongside opportunities for personal development in a stable environment.

Benefits

Competitive salary package

Personal and professional development opportunities

Flexible work arrangements

Qualifications

• Minimum 3 – 5 years of experience in finance environment.
• Good computer skills in MS Word, Excel, and Outlook.
• Strong planning and decision-making skills.
• Ability to work independently with attention to detail.

Responsibilities

• Manage company's cash flow and bank reconciliations.
• Ensure sufficient funds for operational continuity.
• Prepare and review monthly bank reconciliations.

Skills

Cash flow management

Decision-making

Analytical skills

Communication skills

Time management

Education

NQF Level 6 – Advanced Diploma in Finance

NQF Level 7: Degree in Finance

Tools

MS Word

Excel

Outlook

Job description

Overview

THE JOB AT A GLANCE

Reporting to the Head: Operational Finance, the Bank and Cash Manager will be responsible for managing the company’s cash flow by ensuring that bank reconciliations and accounting processes are performed timeously and accurately. The incumbent will also be responsible for ensuring that there are sufficient funds available in the bank for operational continuity.

What will you do?

Cash Management

• Manage group company cash flow, ensuring that there are sufficient funds in all group accounts.
• Analyse cash flow balances and conduct forecasts to ensure that sufficient funds are available to pay operational expenses. Obtain daily estimates from relevant teams (e.g., Claims Payment team, creditors, debtors).
• Make investment or disinvestment decisions and provide recommendations to the Head: Operational Finance for authorisation. Draft instruction letters to the investment company based on decision.

Responsible For Intercompany Transfers Based On Business Requirements

• Escalate any suspicious cash payments or cash deposit transactions to the Investigations team.
• Monitor and report on bank charges for all bank accounts.

Accounting

• Check that cashbook transactions of various banks are processed on a daily basis.
• Capture bank charges, interests, management fees, SARS payments, 3rd party payment, commission payments and manual claims payments on the system.
• Process Accounts Receivables – unpaid or rejected accounts and refunds.
• Review intercompany transfers requested by the Debtors Department and send to the Cashbook Clerk for processing.
• Process intercompany loan repayments.
• Monitor Accounts Receivable, Accounts Payable and General Ledger postings from debtors, pensions, claims and creditors.
• Review weekly bank reconciliations captured by the Cashbook Clerk.
• Prepare and review all monthly bank reconciliations (RMA, RML and Group) for audit requirements, send to Accounts for review and Head: Operational Finance for approval.
• Process online credit card payments.

Administration

• Administer the online banking business profile.
• Create new users, grant access to the online banking portal as required.
• Link bank accounts to the online banking platform as required (e.g., new business).
• Open and close bank accounts per business requirements (e.g., inactive accounts, new products, new business).
• Load e-wallet cards onto the bank and issue e-wallet cards to branches for petty cash use.
• Check and approve the petty cash recon before submitting to creditors for reimbursement.
• Review branch petty cash recons and submit to creditors department for reimbursement payments. Ensure recons are approved by branch managers.
• Analyse unallocated report and distribute to relevant departments for clearing – debtors, pensions, creditors, etc.
• Assist with and facilitate the annual renewal of the forex control exchange license. Engage with the Pensions department to compile relevant documentation for submission to the bank.
• Manage and update the bank account signatory mandate as required.
• Manage business credit card related uses and address with the bank.
• Facilitate testing for any systems development related business project (e.g., bank or internal).
• Facilitate and address all bank related issues for the group.
• Submit Treasury report to the Head: Operational Finance (weekly / quarterly / monthly).

Team Management

• Oversee the day-to-day management of the team.
• Supervise the activities of the team.
• Ensure that staff within are continuously trained.
• Conduct performance reviews with the team.
• Develop annual KPAs for staff.
• Ensure effective performance management is carried out.
• Act to resolve issues which prevent effective team working, even during times of change and uncertainty.
• Coach others and encourage them to take ownership of their development.

Compliance

• Ensure that all work is performed in terms of required standards and regulations.
• Analyse cash deposit transactions report on a daily basis and report any cash deposit above the required limit to the Risk and Compliance team for assessment.
• Ensure that all company policies and procedures are adhered to.
• Ensure timely submission of various periodical reports, highlights of the previous month’s reports.
• Monitor cash deposit transactions for Anti-Money Laundering (AML) reporting by analysing all cash transactions across bank accounts.

What you’ll bring to the table

Minimum Qualification

• NQF Level 6 – Advanced Diploma in Finance
• NQF Level 7: Degree in Finance (advantageous)
• Minimum 3 – 5 years; experience in the finance environment
• Good computer skills - MS Word, Excel, Outlook
• Strong planning & decision-making skills
• Analytical and problem-solving skills
• Ability to work independently with an attention to detail
• Excellent communication skills
• Time management skills

What will you get in return?

We offer great opportunities for personal and professional development in a stable company that’s 131 years strong. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in the office). Furthermore, you will be a part of a dedicated group of colleagues who value teamwork and collaboration.

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Our Commitment to transformation: In accordance with the employment equity plan of Rand Mutual Assurance and its employment equity goals and targets, preference may be given, but is not limited, to candidates from under-represented designated groups.