Job Description

Synopsis

Financial reporting and management of the 3rd Party Funds that IDC Manages or Administers.

Qualification and Experience

Degree in Accounting or related field

CA(SA) qualification advantageous

5 years' experience in the private or DFI space with strong IFRS experience

Knowledge of public sector regulations and PFMA experience - Desirable

Experience with IFRS 9 and accounting for expected credit losses - Desirable

Experience dealing with internal and external auditors and stakeholder management

Relationship building skills - stakeholder management skills

SAP & SAPDM Skills - desirable

Roles and Responsibilities

Key functions of the position include:

Daily Tasks

Acting as checker, releaser for IDC payments (AP process)

Acting as poster for all Fund related transactions into the SAP system

Calculating expected returns for funds in line with the funds department and maintaining the same in SAP

Assisting with ad-hoc tasks as requested

Prepare or review for posting the journals and duly authorised payments

Review payment proposals

Provide financial support and advice to fund managers

Monthly Tasks

Cash updates to Fund Managers including inflows, disbursements, commitments (Monthly Dashboard)

Provide financial support and advice to fund managers

Updating or reviewing of the interest on IDC company as well as on each Fund

Reconciliations of Cash balances of for 3rd party funds

Review and posting the journals and Funds payments

Reporting on 3rd party funds and cash balances for the IDC company

Roles and Responsibilities (cont.)

Quarterly Tasks

Recording IMC adjustments (ECL) to Funds that extend loans (MCEP, KIPP, CTFLGP etc.) as ECL runs are completed

Quarterly financials update (Quarterly dashboard) for fund reporting by fund managers to relevant departments

Monitoring of all collateral relating to Funds that disburse loans

Annual Tasks

Annual preparation of financials in accordance with relevant accounting framework

Managing the external audit of each of the funds (and liaising with loans, FAV, CSG, Risk departments) for necessary input

Keeping all loan related funds up to date in terms of IFRS 9, day 1 calculations, modifications etc.

Preparing the annual cash balance confirmations for the IDC Audit

Manage the impairment and fair value of financial instruments



Job Reference: IDC00637