Job Description

About the Scheme
Rand Water Medical Scheme is nonprofit restricted medical scheme catering specifically for the Rand Water employees and their immediate families. It was founded in 1918 and is registered (registration number 1201) in terms of the Medical Schemes Act 131 of 1998, as amended. The vision of this scheme therefore becomes to be a unique, financially sustainable medical scheme, offering competitive health care services for the well-being of all beneficiaries.
Purpose of the Job
to ensure the scheme's financial health by overseeing budgeting, forecasting, investments, compliance like CMS & IFRS, reporting statutory & management, and risk management, while leading the finance function to support strategic goals and operational efficiency, focusing on solvency, cost control, and member value
Responsibilities

• Oversee all financial reporting to align with statutory and regulatory requirements, including the Medical Schemes Act and related regulations.
• Monitor Medical Schemes Act changes, assess their impact on the Scheme, and communicate implications to relevant stakeholders.
• Peview and present the prepared financial information, including monthly management accounts, annual financial statements, and other relevant financial reports to internal and external stakeholders.
• anage cash flow planning and financial instruments, and ensure the availability of funds as
• Peview financial reports, monitor accounts, and prepare activity reports and financial forecasts.
• Oversee the Schemes fiscal activity, including budgeting, reporting, auditing, and statutory completion of tax-related material and submission thereof.
• Submission of annual CMS submission timeously and accurately.
• Management of the external audit function
• Develop and monitor financial controls and accounting procedures
• Communicate potential risks timeously
• Oversee cash, investment, and asset management
• Monitor financial risk and solvency ratio, and other key ratios
• Facilitate appropriate insurance coverage
• Champion initiatives to improve financial processes, controls, and reporting frameworks.

Candidate Requirements

• Chartered Accountant (CA) or equivalent postgraduate.
• Qualification or experience in general management will be an added advantage.
• Knowledge of the Medical Aid Industry will be an added advantage.
• Minimum 5 years of experience in Finance Management.
• Knowledge of International Financial Reporting Standards is compulsory.
• Excellent communication, leadership, organisational, and interpersonal skills
• High level of accuracy, attention to detail, and organisational ability.

Skills Required