Job Opportunities in South Africa
October 16, 2024
Sanlam
Cape Town
OTHER
Financial Processing and Reconciliation Specialist
Who are we?
Sanlam Fintech is a newly established digital first business within the Sanlam Group on a mission to democratise financial advice and solutions for everyone across the African continent. We exist to pioneer inclusive financial confidence helping people build strong foundations to bridge the gap in generational wealth. Our culture is that of agility and constant deployment, we believe in learning fast, learning cheap and learning forward. Our aim is to provide a work environment where knowledge workers can accelerate the development of their ideas and bring innovation to market, at the same time provide compelling career and development proposition that will enable them to realise their dreams.
Position Overview
The Financial Processing and Reconciliation Specialist role in a collections and payments business is crucial for ensuring the efficiency of accounting processes within Multi Data across all platforms. This includes managing cash flow, balancing accounts, and overseeing reconciliations with clients, all while maintaining high-quality standards in financial transactions. The primary objectives are to ensure accurate transaction processing, resolve discrepancies, support compliance with financial regulations, and enhance operational efficiency in payment processing. Ultimately, this role is essential for maintaining financial integrity and optimizing overall business operations.
Qualifications
- Diploma / Degree in Accounting will be advantageous
- Appropriate Money Movement experience/ knowledge
- Computer literacy (Excel & Word)
Experiences
- 3 – 5 years’ experience in reconciliation
- Multi Data system knowledge
- Bank and Financial industry knowledge
- In depth knowledge of SAP S/4 HANA System
- Multi Data processes and services (Collections and Payments)
- Legislation regarding Bureau industry
- Management Reporting
- Investigative Techniques
- System within Money transfers
What will you do?
- Bank and Accounts Reconciliation
- Financial Management and Accounting: Oversee and manage costs and income with timely precision, ensuring compliance, accuracy, and effective interest calculations that contribute to the company’s financial health.
- Month-End Process: Lead the month-end processes, conducting detailed reconciliations for accurate financial reporting. Proactively investigate and resolve any discrepancies, ensuring all accounts are balanced and accurate.
- Audit Support
- Reporting: Compile and analyze monthly management reports, including debtor aging analysis, fee maintenance, and financial summaries, providing valuable insights to management.
- Process Improvement: Identify and implement strategic enhancements to financial processes and controls, significantly improving efficiency and operational effectiveness, including documentations of processes and financial master data.
- Fee Recovery: Drive the reconciliation and recovery of billing and service fees from both internal and external clients, enhancing cash flow and financial stability.
- Transaction Processing: Effectively manage disbursements, collections, and payments, ensuring meticulous handling of bank statements and adherence to daily limits.
- Client Data Management: Maintain and update client data with accuracy and consistency, leveraging SAP Master Data Governance for reliable financial operations.
- Client Support: Provide exceptional client support by resolving queries through clear communication and ensure timely escalation and resolution of system errors.
- Risk Management: Implement robust financial risk management practices, closely monitoring outstanding funds to ensure timely collections and mitigate potential risks.
- Quality Control and Assurance: Addressing inconsistencies and ensuring excellence.
- Bank File Processing
- Monitoring and recording of investments and divestments in the Multi Data Money Market Account.
What will make you successful in this role?
- Financial Integrity and Compliance
- Operational Efficiency
- Client Satisfaction and Relationships
- Cash Flow and Financial Stability
- Risk Management
Knowledge and Skills
General administrative practices
Budgeting and risk administration
Logistical and events/meeting co-ordination
General Communication
Management of employees
Personal Attributes
Communicates effectively - Contributing independently
Plans and aligns - Contributing independently
Directs work - Contributing independently
Decision quality - Contributing independently
Build a successful career with us
We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as Mi Way and the Group Office – the group provides many opportunities for growth and development.
Core Competencies
Cultivates innovation - Contributing independently
Customer focus - Contributing independently
Drives results - Contributing independently
Collaborates - Contributing independently
Being resilient - Contributing independently
Turnaround time
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Our commitment to transformation
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.
We regret to inform you that this job opportunity is no longer available
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