Operational Finance Specialist

PPS Recruitment; Johannesburg; On-site; ZAR 350,000 - 550,000; Full time

Job summary

PPS Recruitment in Johannesburg is seeking a Finance professional to join the Life Insurance Operations Finance team. The role focuses on exit calculations for resignation, retirement, and death claims, with responsibilities spanning quotes, balance transfers, journals, and QA before payments.

Candidates should have a three-year accounting qualification, 2+ years in financial services (insurance preferred), advanced Excel, and strong reconciliation skills, along with solid stakeholder management

Qualifications

• Three-year tertiary qualification specialising in accounting.
• 2+ years’ experience in financial services, preferably insurance.
• Advanced MS Excel experience.
• General knowledge of insurance legislation is advantageous.
• Experience dealing with members, brokers and advisors is advantageous.

Responsibilities

• Calculate resignation, retirement, vesting, and death claim benefits.
• Generate exit quotes and verify letters for accuracy.
• Transfer balances from special and apportionment accounts to current accounts.
• Process Credit Control Journals for each calculation.
• QA calculations prior to payments and update input files for system uploads.
• Liaise with stakeholders and provide support to team and manager within SLA.

Skills

Advanced Excel

Reconciliation

Accounting basics

Insurance industry knowledge

Stakeholder management

Education

Three-year accounting qualification (Degree or BTech)

Tools

MS Office

Excel (Advanced)

Job description

This position forms part of the PPS Life Insurance Operations Finance team and reports to the Exit Team Manager.

The primary responsibility is to perform exit calculations for resignation, retirement, and death claims.

Education:

• A three-year tertiary qualification (Degree or BTech) specialising in accounting.

Experience:

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

Knowledge and Skills:

• General knowledge of insurance legislation/rules advantage
• Exposure in dealing with members, brokers, and advisors’ advantage.
• Strong sense of commitment to the organization’s goals and values
• Good business sense
• Basic knowledge of accounting and financial principles

Duties and Responsibilities

Operational Process

Exits

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

Billings

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

Accounting

• Reconciling members information on system to the Exit calculation.
• Analysing members’ Current Accounts
• Prepare daily journal files.
• Investigate and reconcile members' billing accounts.

Stakeholder management

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

Additional Accountabilities

• Respond to queries and investigations within the agreed SLA.
• Adherence to process control and service levels agreements.
• Performing other duties assigned from time to time by the manager.