Operational Finance Specialist

PPS; Johannesburg; On-site; ZAR 300 000 - 600 000; Full time

Job summary

An established industry player is seeking a dedicated member for their Life Insurance Operations Finance team. This role involves critical exit calculations related to resignations, retirements, and death claims, ensuring accuracy and compliance with financial principles. The ideal candidate will possess strong analytical skills and a solid understanding of reconciliation processes, complemented by proficiency in Microsoft Office applications. This position offers the opportunity to engage with various stakeholders and contribute to the overall efficiency of the operations team. If you are self-motivated and thrive in a dynamic environment, this role is perfect for you.

Qualifications

• 5 years of experience in financial services, preferably in insurance.
• Strong reconciliation and advanced Excel skills required.

Responsibilities

• Calculate exit benefits for resignations, retirements, and death claims.
• Liaise with stakeholders to ensure accurate billing details.
• Reconcile member information with exit calculations.

Skills

Reconciliation

Analytical Skills

Microsoft Office

Communication Skills

Time Management

Education

BCom Degree

BCom Accountancy Degree

Tools

Microsoft Excel

Microsoft Word

Job description

Job Description

A member of the PPS Life Insurance Operations Finance team reporting to the Exit Team Manager. This role will be responsible for exit calculations of resignation, retirement, and death claim and adhoc billing functions.

Requirements

Education

1. BCom Degree
2. BCom Accountancy Degree (advantage)

Experience

1. 5 years’ experience within a financial services environment, preferably in the Insurance Industry (advantage)
2. Strong reconciliation experience is required.
3. Experience in the use of Microsoft Office applications (Word and Excel).
4. Proficient in MS Office - Advanced Excel.

Knowledge And Skills

1. General knowledge of insurance legislation/rules (advantage)
2. Exposure in dealing with members, brokers, and advisors (advantage).
3. Strong computer skills, including Microsoft Office Package at a Moderate level.
4. Strong sense of commitment to the organization’s goals and values.
5. Good business sense.
6. Basic knowledge of accounting and financial principles.

Competencies

1. Analytical and able to make prudent business decisions.
2. Flexible and adaptable in changing and challenging circumstances.
3. Fast learner with the ability to rapidly assimilate and utilize new information and skills.
4. High level of accuracy and able to operate efficiently under pressure.
5. Good written and verbal communication skills.
6. Self-motivated.
7. Time management skills.
8. Team player and takes responsibility for own development initiative.

Duties and Responsibilities

Operational Process

Exits

1. Calculation of resignation, retirement, AD vesting and death claim benefits.
2. Calculation of Exit Quotes, generate letters, and quality assure the letters.
3. Transferring of balances from Special benefit account and Apportionment accounts to the current accounts.
4. Processing of Credit Control Journals for each calculation done.
5. Quality assurance for calculations processed prior to submission of payments.
6. Updating of the input file for the transactions to be uploaded onto the system.
7. Service Manager to be uploaded with the required Calculation and relevant notes.
8. Resolution to internal and external requests within Service level agreement.
9. Providing support and assistance to team members and manager.

Billings

1. Liaising with internal stakeholders to ensure most up-to-date banking details are linked to the premium paying account.
2. Investigating Billings exceptions and Current account credit balances.
3. Assist on Deposit, Collection and Rule 15A Workflows.
4. Assist with Deposit allocation Month end and Mid month.
5. Providing support and assistance to team members.

Accounting

1. Reconciling members' information on system to the Exit calculation.
2. Analysing members’ Current Accounts.
3. Preparing daily journal files.
4. Investigating and reconciling members billing accounts.

Stakeholder management

1. Provide support to the broader Life Operations business units.
2. Establish, maintain, and build relationships with key stakeholders.
3. Liaison function with internal and external departments.
4. Assist with year-end requirements and audit queries.

Additional Accountabilities

1. Respond to queries and investigations within agreed SLA.
2. Adherence to process control and service level agreements.
3. Performing other duties assigned from time to time by the manager.