Manager Accountant

African Bank; Midrand; On-site; ZAR 60,000 - 100,000; Full time

Job summary

A leading South African bank seeks a Team Leader of Accountants to manage financial reporting and ensure compliance with accounting standards. The successful candidate will lead a team, oversee month-end processes, and implement improvements for efficiency in accounting practices. Candidates must possess a relevant degree and extensive experience in the banking sector.

Qualifications

• Minimum 5+ years of accounting experience, with 2+ years supervisory experience.
• Strong understanding of regulatory frameworks governing banking.
• Ability to articulate complex financial concepts clearly.

Responsibilities

• Oversee preparation and review of the trial balance for accuracy.
• Ensure compliance with accounting standards and internal controls.
• Identify and recommend process improvements in accounting practices.

Skills

Leadership

Financial Analysis

Accounting Principles

Team Development

Regulatory Compliance

Education

Bachelor’s degree in accounting/finance/business

Job description

MAIN PURPOSE OF THE JOB:

To lead and manage a team of accountants responsible for maintaining accurate trial balance management, ensuring timely and accurate financial reporting, and supporting key business functions. Required to provide support to the fixed asset function and ensure compliance with accounting standards and internal controls. Supports the bank’s decision-making processes and enhances operational efficiency.

MINIMUM EDUCATION AND EXPERIENCE:

• Bachelor’s degree in accounting/ finance/ business or a related qualification
• Minimum 5+ years of accounting experience, with 2+ years supervisory experience in the banking or financial services industry
• Strong understanding of banking-specific accounting and regulatory requirements
• Knowledge of regulatory frameworks governing the banking industry (e.g., Basel, RBI, SEC)
• In-depth knowledge of accounting principles (GAAP/IFRS)
• Ability to lead, motivate, and develop a team to meet organizational goals
• Strong ability to analyse financial data and generate actionable insights
• Articulate complex financial concepts in a clear and concise manner with diverse audiences
• Collaborative and cross-functional mindset to work effectively with various teams and business units
• Willingness to learn and stay updated with advancements in banking and accounting practices

ROLE RESPONSIBILITIES:

Month end and financial reporting

• Oversee the preparation and review of the trial balance for accuracy and completeness
• Investigate and resolve discrepancies in a timely manner
• Ensure adherence to relevant accounting standards, regulatory requirements, and internal controls
• Collaborate with the fixed asset team to maintain an accurate fixed asset register
• Assist in asset capitalization, depreciation calculations, and disposals.
• Ensure compliance with fixed asset policies and procedures
• Oversee the preparation and posting of accurate and timely month-end journal entries
• Review and approve journal entries to ensure compliance with accounting principles

Balance Sheet Reconciliations

• Review and approve monthly balance sheet reconciliations prepared by the team
• Address and resolve reconciling items or discrepancies
• Ensure proper documentation and audit trail for all reconciliations
• Drive process improvements to enhance the efficiency and effectiveness of the Balance Sheet reconciliation process

Purchase order approval

• Ensure the team acts as key approvers for purchase orders, ensuring accuracy and alignment with budgetary controls
• Provide training and guidance to the team on PO policies and processes
• Monitoring turnaround times for PO approvals and addressing delays

Process improvement

• Identify inefficiencies in accounting processes and recommend improvements
• Implement automation tools and software for enhanced efficiency and accuracy
• Standardizing reporting templates for consistency and efficiency across teams
• Developing workflows to identify and resolve discrepancies faster
• Implementing task management tools to allocate, track, and prioritize team activities
• Redesign workflows to eliminate redundancies and bottlenecks
• Creating dashboards for real-time monitoring of key performance indicators (KPIs).