Fund Accountant

Talentcru; Gauteng; On-site; ZAR 700 000 - 900 000; Full time

Job summary

A financial services company in Gauteng is seeking a professional for financial reporting and management of various funds. The role involves acting as checker for IDC payments, preparing journals, and providing financial advice to fund managers. Candidates should have a relevant accounting degree, CA(SA) qualification is advantageous, and a minimum of 5 years of experience in the private sector. Familiarity with IFRS and SAP is highly desirable. This position offers an exciting opportunity to contribute to financial governance and support fund management.

Qualifications

• 5 years' experience in the private or DFI space with strong IFRS experience.
• Knowledge of public sector regulations and PFMA experience is desirable.
• Experience with IFRS 9 and accounting for expected credit losses is desirable.

Responsibilities

• Acting as checker, releaser for IDC payments (AP process).
• Assisting with ad-hoc tasks as requested.
• Providing financial support and advice to fund managers.
• Preparing or reviewing journals and duly authorised payments.

Skills

Financial reporting

Stakeholder management

IFRS experience

SAP SAPDM Skills

Education

Degree in Accounting or related field

CA(SA) qualification

Job description

Overview

Financial reporting and management of the 3rd Party Funds that IDC Manages or Administers.

Key functions of the position include :

Responsibilities

Daily Tasks

• Acting as checker, releaser for IDC payments (AP process)
• Acting as poster for all Fund related transactions into the SAP system
• Calculating expected returns for funds in line with the funds department and maintaining the same in SAP
• Assisting with ad-hoc tasks as requested
• Prepare or review for posting the journals and duly authorised payments
• Review payment proposals
• Provide financial support and advice to fund managers

Monthly Tasks

• Cash updates to Fund Managers including inflows, disbursements, commitments (Monthly Dashboard)
• Provide financial support and advice to fund managers
• Updating or reviewing of the interest on IDC company as well as on each Fund
• Reconciliations of Cash balances for 3rd party funds
• Review and posting the journals and Funds payments
• Reporting on 3rd party funds and cash balances for the IDC company

Quarterly Tasks

• Recording IMC adjustments (ECL) to Funds that extend loans (MCEP, KIPP, CTFLGP etc.) as ECL runs are completed
• Quarterly financials update (Quarterly dashboard) for fund reporting by fund managers to relevant departments
• Monitoring of all collateral relating to Funds that disburse loans

Annual Tasks

• Annual preparation of financials in accordance with relevant accounting framework
• Managing the external audit of each of the funds (and liaising with loans, FAV, CSG, Risk departments) for necessary input
• Keeping all loan related funds up to date in terms of IFRS 9, day 1 calculations, modifications etc.
• Preparing the annual cash balance confirmations for the IDC Audit
• Manage the impairment and fair value of financial instruments
• Degree in Accounting or related field
• CA(SA) qualification advantageous
• 5 years' experience in the private or DFI space with strong IFRS experience
• Knowledge of public sector regulations and PFMA experience – Desirable
• Experience with IFRS 9 and accounting for expected credit losses – Desirable
• Experience dealing with internal and external auditors and stakeholder management
• Relationship building skills – stakeholder management skills
• SAP SAPDM Skills – desirable