Finance Manager: Insurance

Welcome to the
Land and Agricultural
Development Bank of South Africa

To provide accounting, managerial and operational expertise in order to provide relevant and reliable information for business decision making through the design, implementation and maintenance of effective financial processes, procedures and policies for Land Bank and Land Bank Insurance subsidiaries

• Develop, implement and Manage accounting systems and processes including system of internal controls for greater efficiencies relating to Land Bank Insurance subsidiaries
• Maintains the General Ledger for Land Bank Insurance
• Manages compliance with statutory requirements of PFMA, IFRS, SARS, National Treasury, FSCA and other Regulations relating to the Land Bank Insurance subsidiaries

• Compiles a financial reporting timetable for communication to all stakeholders to meet deadlines for Land Bank Insurance subsidiaries

• Reviews monthly management accounts.
• Adapts monthly reporting as required.
• Performs financial analysis, interpretation and provides comment on variances and financial ratios to ensure timeous and accurate reporting to Exco / Board.
• Financial Performance Write Up

• Prepare for review and Submits quarterly reports to National Treasury (Finance Section) & FSCA .

• Review of the prior year AFS for technical updates due to changes in International Financial Reporting Standards (IFRS) and other relevant legislation (PFMA, National Treasury Regulations FSCA, VAT Act, etc.)
• Advise management of the subsidiaries of any changes in accounting standards
• Update the current year AFS with all the relevant changes
• Seek continuous improvement in the process of preparing the AFS
• Compile the AFS within the allocated time frame

• Prepare and monitor daily, weekly, and monthly cash flow forecasts.
• Ensure adequate liquidity to meet operational and strategic funding requirements.
• Manage the organisation's banking relationships and banking facilities.
• Process and monitor electronic payments and collections.
• Monitor foreign exchange transactions (where applicable).
• Manage short-term borrowing requirements and loan repayments.
• Ensure compliance with lender covenants and funding agreements.

• Oversight into the Annual Financial Statements of Land Bank and subsidiary companies (LBIC & LBLIC)
• Technical Accounting research
• Technical Accounting Projects

• Develop a month-end timetable and follow up to ensure compliance with the timetable.
• Opening and closing of accounting periods on SAP Finance.
• Assigns responsibilities to relevant assistants, including the creation of reconciliations.
• Manage the month-end focus. (Including investments, write-offs, , fruitless and wasteful and irregular expenditure, impairments, re-insurance premiumsetc.)
• Review of journals.
• Ensure that the General Ledger and journal entries are in accordance with defined standards by analysing accounts and correcting misallocations and miscalculations.

• Analyse the business plan to determine the applicable deliverables and targets
• Compile the Performance Management documentation in collaboration with the staff member
• Conduct performance reviews in accordance with policies and procedures and take corrective actions where necessary
• Provide coaching and feedback to employees on how to improve and sustain their performance

Qualified CA (SA) Completed articles

3-5 years experience including:

• Completion of articles, where applicable (Preferrably in Insurance)
• IFRS 17 implementation and accounting
• Experience in a Financial Management / Management Accounting position
• Exposure to Insurance Accounting, Regulations and Regulatory Reporting
• Business Acumen
• Short Term & Long-term insurance Act
• FSCA Requirements
• Solvency Assessment Management (SAM)

• Extended hours as and when required
• Travel as and when required

Registered Credit Provider: NCRCP
18 | VAT number: