Manager: Finance Support

The Road Accident Fund’s mission is t o provide timely and equitable assistance to those affected by motor vehicle accidents through the provision of appropriate social benefits to ensure financial relief and recovery for qualifying individuals.

Purpose of the Job: The Manager: Finance Support is responsible to effectively and efficiently manage the Finance function at the processing centre in the RAF, enabling the region to make sound financial decisions and advise the region about the importance of budgetary planning and the financial implications of the business decisions, through promotion of risk management, conformance to reporting and procedural standards, implementation of financial principles and internal controls and compliance to financial management policies of RAF, the PFMA, and Treasury Regulations.

Key Performance Areas

Policy Review and Implementation

- Contribute to the development and implementation of departmental policy, procedures and processes.

- Keep up to date with effective policy and practice execution strategies.

Financial Management

- Survey operations to ascertain accounting needs and to recommend, develop, or maintain solutions to business and financial problems as applicable when required.

- Ensure effective Financial management in the processing centre.

- Timely banking of cheques and cash

- Effective controls around development and use of applicable documents.

Manage departmental and processing centre budget

- Manage the annual processing centre budgeting process.

- Advice to management on budget and expenditure based on PFMA and National Treasury regulations or notes e.g. Cost containment note.

- Accurately, appropriately and effectively manage, develop, maintain, and analyse regional budgets.

- Effective utilisation of regional and regional finance budget.

- Prepare periodic reports that compare budgeted costs to actual costs (variance reporting).

- Advise management about issues such as resource utilization and the assumptions underlying budget forecasts.

- Communication of variances, and report any deviation from standards.

- Implementation of corrective measures and controls to ensure effective budget management.

- Accurately and correctly approve purchase requisitions on SAP system.

- Provide guidance to the creators of Purchase Requisitions, on the correct General Ledger Accounts and material groups to be used, in line with budget.

- Review budget once loaded on SAP, and advise on any discrepancies.

- Fallout reports on claims payments investigated and actioned timeously.

Reporting

- Prepare and submit regulation reports as and when required to provide progress updates and/or inform management decisions.

- Develop reports/ procedures and guide the process through the alignment of the documents to the overall RAF’s Strategy.

- Develop functional reporting systems, for management, projects or performance reporting.

- Prepare proposals, briefings, presentations, reports, and other documentation and provide management information both verbally and in report format.
Monthly management reporting on processing centre performance, including variance reporting.

Manage the process of claims payments in the processing centre

- Approval of claims payments in terms of CFO DOA.

- Ensure continuous improvement in internal controls i.r.o claims payments processes, including duplicate payments.

- Obtain documentation from Operations to initiate payment process.

- Verify the accuracy, validity, completeness and existence of a payment by inspecting supporting documentation provided.

- Communicate internal controls required to ensure the accurate verification of claimants banking details on SAP.

Finance governance and compliance in respect of processing centre

- Monitor appropriate implementation of and adherence to regulations, Acts, policies and procedures.

- Ensure continuous implementation and improvement in internal controls and control measures in respect of finance function.

- Reporting of non-compliance.

- Implement systems to monitor compliance with PFMA, Treasury regulation and any other applicable laws and regulations.

- Reporting and investigation of financial misconduct.

- Update the organisation regarding changes in legislation, regulations, accounting and auditing standards that may affect the organisation’s business operation.

- Resolve finance audit findings.

Asset Management Administration

- Provide direction on capitalisation and valuation of assets in the processing centre.

- Advise Facilities Management of processes to follow with regards to write-off and impairment of assets in compliance with IFRS or other relevant or applicable guidelines.

- Effective controls of all assets within the cost centre.

- Ensure all documentation are done/made before transfer or receipt of assets within the cost centre.

- Report all damaged assets relating to the cost centre assets.

- Ensure that cost centre assets are safely kept and used in accordance with the SOP and any non-compliance is reported to the cost centre Manager.

- Ensure timely verification of cost centre assets in line with SOP to ensure compliance.

Stakeholder Management

- Facilitate and manage communication with relevant internal and external stakeholders in relation to investments and proactively and progressively manage the relationships.

- Manage relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on time.

- Communicate with all levels of stakeholder contact.

- Represent the Fund in relevant external activities and events.

Risk Management

- Ensure continuous implementation and improvement in internal controls and control measures in respect of finance function.

- Identify, Develop and implement management mechanism in the region for purposes of minimising the financial risks, and introduce associated action plans

- Input to regional risk register

People management

- Ensure the sourcing, development and retention of a high-performance team.

- Manage the recruitment of the operational workforce in line with employment equity targets.

- Manage staff in the department to ensure that they achieve their objectives in line with the strategic objectives of the RAF.

- Manage the implementation of human capital processes and procedures to control/regulate workplace conflict and/or institute corrective measures and consultation processes to address deviations from standards.

- Allocate, direct, motivate and evaluate subordinates to help them achieve their individual goals.

Qualifications

- Bachelor’s Degree/Advanced Diploma in Finance/Commerce/Accounting related qualification.

- Postgraduate in Finance/Commerce/Accounting related qualification will be an added advantage.

- Articles served at an approved audit firm will be an advantage.

Experience

- Relevant 6 – 8 years’ experience in a financial environment of which 2 years must have been on management level/supervisory level.

- SAP experience will be advantageous.

Competencies

- Behavioural

Resilience

- Communication

- Working with People

- Network and Alliances

- Planning, Organising and Coordinating

- Employee Engagement

- Personal Mastery

- Judgement and Decision Making

- Ethics and Values

- Client Service Orientation

- Managerial

Change management

- Coaching and mentoring

- Conflict management

- Critical and innovative thinking

- Direction setting

- Facilitation and Presentation Skills

- People management

- Policy conceptualisation and formulation

- Risk Management

- Programme/project management

- Service Delivery Innovation

- Stakeholder development and relations

- Reporting

- Technical

Excellent communication skills (written, verbal, listening).

- Reconciliation experience.

- Supervision of staff.

- Financial management.

- PFMA / TR’s.

- Treasury Regulations.

- Experience in Microsoft and accounting software packages (SAP experience will be an added advantage).

- Knowledge and understanding of basic accounting practices.

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.