South Africa Job Openings
Sanlam
Financial Processing and Reconciliation Specialist
Cape Town
FULL TIME
October 16, 2024
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/ knowlegde
- Computer literacy (Excel & Word)
Experiences
- 3 – 5 years’ experience in reconciliation
- Multi Data system knowlegde
- Bank and Financial industry knowlegde
- 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?
- Comprehensive Financial Oversight: You are responsible for all financial tasks within the department, ensuring accuracy and timeliness in all financial processes.
- Business Performance Reporting: You must keep management informed about the financial status and business activities of Multi Data, requiring precise data analysis and communication.
- Data and Systems Management: You rely on SAP and Multi Data collections and payment systems to gather necessary stats and financial information, managing these resources effectively to ensure accurate reporting.
- Reconciliation Supervision: You oversee reconciliations, following up with assistants to correct any discrepancies and ensure financial integrity.
- MIS and Discrepancy Resolution: You prepare management information systems (MIS) reports, providing detailed reasons for any discrepancies or irregularities identified.
- Invoice and Statement Preparation: You are responsible for preparing debtor invoices and statements for clients who have received services, with some transactions processed overnight.
- Bank Deposit Resolution: Daily, you resolve issues related to unidentified bank deposits, ensuring all funds are correctly accounted for.
- Query Management: You handle various financial queries from Fintech: Finance, providing accurate and timely responses to maintain smooth operations.
What will make you successful in this role?
- Financial Integrity and Compliance: By ensuring accurate transaction processing, meticulous reconciliations, and effective cash flow management, the specialist upholds the financial integrity of the business. This impact will be felt across financial reporting, audits, and compliance with regulatory standards.
- Operational Efficiency: The specialist's ability to streamline financial processes, resolve discrepancies, and implement process improvements will enhance overall operational efficiency. This will be most noticeable in the speed and accuracy of payment processing, reducing delays and errors.
- Client Satisfaction and Relationships: Through effective client data management, timely resolution of queries, and accurate billing, the specialist contributes to maintaining strong client relationships. The impact will be felt in client retention and satisfaction, as well as in the minimization of disputes or complaints.
- Cash Flow and Financial Stability: By driving fee recovery and ensuring timely collections, the specialist directly influences the company’s cash flow and financial stability. This impact will be evident in the business's ability to manage its financial obligations and invest in growth opportunities.
- Risk Management: The specialist's role in identifying and mitigating financial risks will help protect the business from potential losses. This impact will be felt in the overall financial health of the company, particularly in maintaining solvency and avoiding financial disruptions.
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.
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