Manager - Fund Accounting

Role Overview

To manage and oversee the Fund Accounting portfolio across Treasury, Accounting, Investments, Audits, Valuations, Compliance and Reporting, ensuring accurate financial records, effective cash flow management, timely reporting and adherence to regulatory requirements.

The role requires strong analytical and problem-solving skills, attention to detail, and the ability to identify opportunities for process improvement. The successful candidate will provide operational support to the Fund Accounting team, maintain effective stakeholder relationships, and ensure high-quality service delivery within required deadlines.

Reporting to the Senior Finance Manager, the role will also involve taking ownership of delegated projects, supporting cross-functional collaboration, and contributing to the overall efficiency and effectiveness of the Fund Accounting function.

AREAS OF RESPONSIBILITIES

Operational

• Treasury management: forecasting and daily investment/disinvestment management
• Review and set-up of users online banking access.
• Checking and approving payments.
• Check that bank statements are updated and bank reconciliations done accurately and on time.
• Monitor fund cashflows and forecast cash requirements in line with each fund’s policies.
• Prepare investment and disinvestment instructions and oversee daily, weekly and monthly cashflow reporting.
• Oversee and enhance the relationship with the fund/s bankers

Accounting

• Oversee and manage existing system controls and introduce new enhancements to streamline workflow and mitigate risk factors.
• Prepare, maintain and implement standard operating procedures (SOPs).
• Development, implementation and management of effective financial controls.
• Prepare fund accounts in accordance with each fund’s accounting policies and rules, and implement any changes.
• Ensure adherence to the Service Level Agreement (SLA) of the fund/s.
• Checking all monthly reconciliations (Accounts Receivable & Accounts Payable).
• Prepare and review monthly general ledger (GL) working papers and reconciliations; identify, report and resolve accounting issues.
• Ensuring that all systems in the department are in a working condition.

Investments

• Liaising with fund managers, brokers, and custodians to communicate information and resolve issues on a timely basis.
• Monitor and control investment / disinvestment with the respective Investment Managers.
• Ensure accurate daily and monthly pricing, including the loading of daily unit prices.
• Review and address unpriced cashflows with the relevant fund managers, brokers and custodians.
• Ensuring Investments are balanced accurately (ALM).

Audit

• Planning and coordination of the audits to ensure the audit function is executed on a timely and efficient basis.
• Checking of audit files and working papers for submission to the auditors.
• Prepare and review the annual financial statements.
• Providing responses on audit requirements ensuring all audit issues are resolved, and all compliance issues are met.
• Implement audit action plans and recommendations from the auditors.
• Electronic submission of financial statements to the FSCA.
• Handle FSCA queries relating to the annual financial statements and audit submissions.

Valuation

• Prepare member data for fund valuations.
• Liaising with the actuary for the timeous valuation of the fund/s.
• Implementing recommendations from the valuator.

Compliance and Reporting

• Ensure adherence to applicable regulatory requirements of the FSCA, SARS and SARB; ensure accurate SARB and C48 reporting and quarterly Regulation 28 compliance reporting.
• Provide oversight and play a leadership role in the Compliance Management function to ensure that:
• the company compliance framework and policies are properly embedded and implemented in the business.
• there is regular reporting on compliance breaches and progress on mitigation and management plans.
• administrative penalties as a result of compliance breaches are minimised.
• Manage the performance of Compliance operational activities within Salt EB to minimise compliance risk through adherence to policies, procedures, and guidelines and in accordance with regulatory requirements.
• Working closely with the senior Management to ensure that all key risks are identified and are adequately communicated to the relevant business owners.

Reporting

• Prepare and review monthly management accounts, cashflow statements and investment reconciliations for each fund.
• Drafting of the annual budget for the fund/s and monthly tracking of the fund/s income and expenses against the budget.
• Provide relevant information for the preparation of fund/s board packs. Oversee the production of monthly management reports (internal).
• Ensure that monthly compliance reporting is accurate, of a high standard and properly reviewed (internal).
• Communicate to management about any fraudulent activities and misrepresentation of information.

Customer

• Attend Board and Subcommittee meetings.
• Ensure adherence to customer and service provider SLA’s.

People

• Develop a high performing team by embedding formal performance development and informal coaching. Implement talent acquisition, engagement and recognition process in line with this.
• Assist administrators with accounting issues.
• Effective team management and coordination of financial activities at all levels.
• Headcount & Retention.
• Timekeeping - Managing teams leave and time keeping (RTW).
• Training & Development - Making sure all team members understand to adhere to processes.
• Succession planning.
• Innovation, Learning and Growth
• Ensuring that functions and processes are aligned within the department.
• Improving the internal controls to address any weaknesses that may arise.
• Prepare training manuals used in the fund accountant department.
• Authorizing and co-ordinating staff leave.
• Preparing and assessing of staff KPA’s.

COMPETENCIES REQUIRED

• Bachelor’s degree in accounting/finance
• Advanced Excel
• Communication (Written and Verbal)
• English (Business writing and email etiquette)
• Stakeholder management (CRM)
  
• Accuracy and attention to detail
• Judgement and Decision Making
• Working under pressure and deadline driven
• Organizational skills / Planning and prioritizing
• Interpersonal skills
• Settings goals
• Cross team collaboration
• Innovation
• Great time management
• Analysis of data
• Judgement/Decision making
• Innovation
• Negotiation and Conflict Management
• Networking
• Persuasion, Prospecting
• Research
  

QULAIFICATIONS AND EXPERIENCE

• Minimum Bachelor’s Degree in Accounting, Finance, or a related field from an accredited institution.
• Honours/Postgraduate Diploma in Accounting (advantageous)
• SAIPA/ CIMA/ AGA(SA) – SAICA (advantageous)
• Relevant experience in Pension Funds (+5 years), relevant experience in large Funds arrangements (Umbrella) or in audit of Pension Funds.