Fund Scheme Accountant

Recruiter Old Mutual Life Assurance Company (Malawi) Limited

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Job Description

This role is responsible for general accounting services for specific funds and the Corporate Ledger. The incumbent is individually accountable for achieving results through own efforts.

Key focus of the role:

We are looking for a Fund Accountant to join the OMFIA Fund Accounting team, specifically dealing with Retirement Funds, within Old Mutual Financial & Investments Accounting (OMFIA), OMiX Servicing. The team is responsible for maintaining the accounting records and related financial reporting for various retirement fund products. The Fund Accountant's role is to ensure accuracy, validity and completeness of the products' accounting records and related reporting. The team is also responsible for administering the bank account and related investments of various products. The role is responsible for administration of the related assets and completion of reconciliations. By implication the role requires a solid financial grounding and adherence to internal controls as well.

SPECIFIC KEY RESULT AREAS:

• Monitor the ledgers are accurately and timeously produced. Ensure that all financial accounting transactions are accurately reflected in the ledgers allocated and required interfacing occurred accurately and is complete.
• Maintenance and reconciliation of ledgers allocated, addressing technical issues and problems arising.
• Preparation of monthly/quarterly financial packs including trial balances for the products allocated, management and regulatory reporting and financial statements (where required).
• Preparation of statutory returns and reconciliations.
• Prepare bank reconciliations. Investigate and action reconciling items to be solved in a proactive manner.
• Prepare balance sheet reconciliations and clearing of items on balance sheet reconciliations relating to the funds allocated and the Corporate Ledger.
• Preparation and co-ordination of expense payments, income and expense position and audit work papers.
• Responsible for new, complex and varied reconciliations with little input required.
• Responsible for testing account mapping and various inputs to all projects (where required).
• Prepare annual financial statements in accordance with Regulatory Reporting Requirements for Retirement Funds in South Africa.
• Liaise with auditors and preparations of audit working papers.
• Preparation of accurate and complete monthly and year end journals.
• Prepares and/or monitors PAYE and PAYE reconciliations, within business units on a monthly basis. Investigates and actions PAYE reconciling items to be solved.

• Responsible for regular reporting on ledgers and monthly reporting on the Corporate Ledgers.
• Responsible for Investments/Assets under management and analysing the variances (where required).
• Responsible for fund income and expense position.
• Responsible for quarterly exchange control and other statutory reporting (SARB and C48 reporting).
• Responsible for PAYE reconciliations and related payments.

• Assist with building and maintaining a unified and sound team.
• Assist with building working relationships across lines of business and with 3rd parties to achieve service excellence and effective resolution of problems.

• Delivery through own efforts and through others.
• Collaborates effectively with others to achieve personal results.
• Accepts and lives the company values.
• Strong analytical skills.

• Matric
• Financial tertiary education (B Com Accounting, or B. Accounting degree (B.Acc) or equivalent, B.Compt Degree with Accounting at a 3rd year level.)
• Minimum 5 years accounting experience required.
• Computer literacy - Microsoft Office and Advanced Excel required.
• Advantage - Working knowledge of the OMFIA/CAS business model and related system infrastructures.
• Advantage - Experience in Retirement Funds, understanding of the retirement fund business model, or Financial services background.
• Advantage - Caseware application experience.
• Advantage - Regulation 28 of the Pension Fund Act.
• Excellent organising and time-management skills.
• Good application of business principles.
• Accurate Attention to detail.

• Collaboration (Relating)
• Customer First
• Execution
• Leading with Influence
• Personal Mastery (Learning)
• Strategic Thinking
• Innovation

• Advanced Microsoft Excel and Microsoft Word Skills
• Retirement Fund Accounting (Pension Funds)
• Financial Reporting and Analysis
• General Accounting
• Management Reporting

• Bachelor of Commerce - Accounting (BComm) (Required) or Bachelor of Accounting (BAcc) or equivalent, B.Compt Degree (With Accounting at a 3rd year level.)
• Matriculation Certificate (Required)

24 April 2025 , 23:59

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