Accountant: Finance Support

The Road Accident Fund’s mission is to provide appropriate cover to all road users within the borders of South Africa; to rehabilitate and compensate persons injured as a result of motor vehicle accidents in a timely and caring manner; and to actively promote safe use of our roads.

NB: This is a 12-Month Fixed-Term Contract position 

Purpose of the job: The Accountant: Finance Support is accountable to support the finance department in the regions by effectively assisting and supervising the claims, Payment function to ensure an effective system of claims payments through continuous improvement and resolution of stakeholder queries.

Key Performance Areas

Management of claims payment process

• Verify and approve claims payments in line with DOA by confirming the accuracy, validity ,completeness and existence of a payment by inspecting supporting documentation to confirm the following: 

           - Payee to the trigger and supporting documents (per above).

           - Banking details to both the trigger document and any supporting documents.

• Resolve duplicates within 5 working days and take appropriate corrective action.
• Report on appropriate actions to be followed on fruitless and wasteful expenditure incurred as well as advising on ways of preventing or reducing fruitless expenditure.
• Ensure that the turnaround times for the submission of batch per expectation/requirement is done within the 5 days’ timelines after being received from finalisation.
• Maintain and develop good relationship with claimants, attorney firms and staff members.
• Ensure continuous implementation and improvement of internal controls for claims payments.
• Follow up on all outstanding batch payments at finance.
• Attend to queries and discrepancies in relation to missing payments within the finance department.
• Ensure that all payments submitted to Treasury at Head Office are processed as per batch serial numbers.
• Ensure that payments that have discrepancies/queries are returned to finalisation Department.
• Reconcile finalisation payment reports against EA for approvals.

Financial Management including bank and cash management

• Implementation of and adherence to financial management principles to ensure valid, accurate and complete payments pertaining to petty cash.
• Effective internal controls and compliance to required supporting source documents (i.e receipts, deposit books etc).
• Follow up on reconciling items to ensure timeous resolution.
• Ensure that all petty cash transactions captured and saved on SAP, are in the correct accounting period.
• Review monthly petty cash reconciliations reports, check supporting documentation and ensure that they are submitted to treasury (HO) on a monthly basis.
• Ensure timely banking of cheques and cash received as per policy.
• Ensure that deposit breakdowns are allocated in the correct bank accounts and general ledger.
• Perform petty cash counts.
• Monthly reporting relating to Petty Cash.

Reporting

• Contribute to the preparation and submission of Regulation reports.
• Aid in the development of functional reporting systems, for management, project or performance reporting.
• Report regularly and periodically, perform necessary submissions as and when required to provide progress updates and/or inform management decisions.

Compliance, Monitoring and evaluation

• Monitored service delivery of claims payment function.
• Ensure that fallout reports on claims payments are investigated and actioned timeously.
• Monitor claims payments (from request, to batching, to payment) and manage exceptions.
• Deal with claims payment queries and ensure resolved timeously.
• Ensure appropriate implementation of and adherence to Policies and procedure.

Stakeholder Management

• Aid in proactive and progressive relationships with key stakeholders.
• Deal with inquiries and requests for information from both internal and external stakeholders.
• Aid in the maintenance of relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on time.

Qualification

• Bachelor’s degree/ Advanced Diploma in Finance/Commerce/Accounting related qualification

Experience

• Relevant 4 years’ experience in a financial environment.
• SAP experience will be advantageous.

Technical and behavioral competencies required

• Reconciliation experience
• Knowledge of Financial management
• Knowledge of the Public Finance Management Act
• Knowledge of Treasury Regulations
• Computer literate – knowledge of Microsoft, financial and accounting software packages
• King IV
• Knowledge of Corporate Governance 
• Cash and bank management
• Speed, accuracy and accountability
• Planning, Organising and Coordinating.
• Personal Mastery.
• Judgement and Decision Making.
• Ethics and Values.
• Client Service Orientation.

NB: "RAF offers Total Employment Cost packages with no additional contributions from the Employer, successful candidates are required to structure their packages in a manner that will suit their needs." 

The Road Accident Fund subscribes to the principles of employment equity and preference will be given to People with Disabilities.

Applicants who have not received any correspondence from us within six weeks from the closing date can consider themselves unsuccessful

Security Vetting shall be conducted on all prospective employees

It is the applicants’ responsibility to have foreign qualification evaluated by the South African Qualification Authority (SAQA) and to provide proof of such evaluation.