The Financial Accountant is responsible for ensuring the accuracy and integrity of fund and management company accounting activities, including reconciliations, tax and regulatory submissions, audit support, bank and general ledger controls, supplier process administration, and financial reporting for Discovery Employee Benefits. The role is accountable for maintaining complete and accurate fund and entity financial records, ensuring timely reconciliations, conducting analytical reviews, and preparing comprehensive supporting working papers. The incumbent proactively resolves financial and operational queries, ensures compliance with regulatory and internal control requirements, and contributes to the continuous improvement and efficiency of finance processes and reporting practices.
Areas of responsibility may include but not limited to
Umbrella Fund product accounting: Prepare monthly fund account reconciliations, perform analytic reviews, investigate variances and ensure fund balances are supported by complete working papers.
Annual audit and financial statements: Prepare annual audit working papers, supporting documentation and financial statements for the Discovery Life Umbrella Pension and Provident Funds, and resolve audit queries timeously.
Tax administration and query resolution: Calculate tax liabilities, complete and submit tax returns monthly, bi-annually and annually, and provide analysis and support on tax-related queries.
Regulatory reporting: Prepare and submit regulatory returns, including QAAR, Regulation 28 and C48, and support related fund and regulatory query resolution.
Banking and cash controls: Prepare monthly bank reconciliations, monitor bank accounts and FSCA account balances, investigate exceptions and support clearing of unallocated transactions.
Asset allocation and commission projects: Prepare asset allocation reporting and support projects relating to commission payments, reconciliations and process alignment.
Management company accounting: Prepare monthly management accounts, detailed general ledger reconciliations, analytic reviews, actual versus budget comparisons and financial reporting packs.
Account management and intercompany control: Reconcile Discovery Employee Benefits Account Management balances to the general ledger and bank accounts, and manage clearing of intercompany loan accounts.
Invoice and supplier management: Support invoice processing, supplier liaison, query resolution and related controls to ensure accurate and timely payment administration.
Board reporting and process insight: Gather and validate board report inputs, develop a deep understanding of finance processes and recommend practical improvements where control gaps or inefficiencies are identified.
Stakeholder engagement and internal audit support: Engage with Finance, Operations, Tax, Internal Audit and External Audit stakeholders to resolve queries, provide evidence and maintain high-quality documentation.
Personal Attributes
Integrity, honesty and reliability
Highly motivated self-starter who takes initiative
Ability to plan and control work-flow to effectively manage the team's deadlines
Ability to communicate effectively both verbally and in writing
Ability to apply knowledge in a practical setting
Strong numerical and verbal reasoning skills
Ability to work independently and within a team environment
Problem solving
Education and Experience
Minimum 5 years' experience as a Fund Accountant or in a similar financial accounting role.
Extensive experience within the retirement funds environment, including financial, regulatory, and tax administration.
Strong knowledge of employee benefits, retirement fund structures, and fund accounting controls.
Proven experience in preparing reconciliations, audit working papers, annual financial statements, and managing audit-related queries.
Solid experience with bank reconciliations, general ledger reconciliations, analytical reviews, and variance analysis.
Bachelor's degree in Commerce (BCom) or an equivalent tertiary qualification with a focus on Finance, Taxation, and Accounting.
Postgraduate qualification or further studies in Accounting, Taxation, Financial Management, or Retirement Funds will be advantageous.
Advanced proficiency in Microsoft Excel, with exposure to data analytics and financial reporting tools.
Professional registration with a recognised accounting or finance body would be beneficial.