Financial Accountant

Job Description

The purpose of the role is to ensure the accurate recording, reporting, and analysis of the DBSA financial transactions in compliance with accounting standards and regulatory requirements. This is not limited to Financial Management, Management Reporting and Information Systems, Transactional Processing and General Ledger Management, Internal Control and Risk Management, and Stakeholder Management and Reporting.

Key Responsibilities

1. Financial Management

• Maintain an understanding of the DBSA financial transactions to understand the impact on the financial position, financial performance and cash flow statement disclosures.
• Implement financial policies and procedures that consistently support business operations.
• Contribute to proactive and regular forecasting and scenario planning for corporate balance sheet and cash flow statements.
• Manage and control payments and debtor’s accounts to ensure accurate processing and accounting.
• Enhance financial control standards and ensure effective management of working capital, risk management, and disciplined financial best practices.
• Execute daily clearing and reconciliation of DBSA general ledger accounts.
• Process all journal entries, supplier invoices, and debtors’ invoices on time within the process requirements.
• Monthly preparation of financial information used in financial reporting and management reports.
• Prepare and reconcile creditors' and debtors' accounts.
• Contribute to the preparation of monthly, quarterly, interim and annual reports, including variance reporting in collaboration with business.
• Contribute and assist management with internal and external audit processes and preparation of regulatory submissions.
• Contribute towards the preparation of annual and interim IFRS compliant annual financial statements of the Bank.

2. Management Reporting and Information Systems

• Analyse and report on the Bank’s assets, liabilities, income and expenses, providing insights to the business.
• Provide support in forecasting and scenario planning for both corporate and divisional operations.
• Provide management reporting information for the Finance and Business Heads and the governance structures.
• Align financial policies, procedures, and strategies with SAP FICO design to reflect business and financial rules.
• Drive continuous improvement in management information reporting and system enhancements within the finance division.
• Review actions against the organisational plan (Balance Score Card) and consider the "big picture" when identifying opportunities.
• Stay informed about DBSA’s business functions and industry developments.
• Comply with legislative, financial, tax, VAT and related matters, including Treasury and PFMA requirements.
• Prepare or review journal entries for accuracy and potential errors.
• Collaborate with business and other finance functions to ensure timely and accurate management reporting.
• Verify correctness of VAT on accounts payable and receivable transactions.
• Participate in ad hoc financial projects to enhance financial control across the business.

3. Transactional Processing and General Ledger Management

• Maintain the integrity of the general ledger as this is the foundation for reliable financial reporting and audit compliance.
• Perform reconciliations and ensure accurate journal entries to detect and correct errors early, ensuring the accuracy of financial data and preventing fraud.

4. Internal Control and Risk Management

• Implement and monitor financial controls to safeguard assets, ensure data accuracy, and prevent unauthorised transactions.
• Identify and mitigate financial risks to protect the DBSA from financial losses and operational disruptions.
• Adhere to governance and compliance frameworks to promote ethical behaviour, accountability, and regulatory compliance.

5. Stakeholder Management and Reporting

• Provide direction and management to colleagues in the accounts payable function.
• Provide financial insights to management and business units to help non-financial managers understand the financial impact of their decisions and actions.
• Build relationships with stakeholders across the organisation to ensure open communication and a deep understanding of the Bank’s operations.
• Support business decision-making with financial data to improve efficiency, profitability, and competitiveness.

Key Measurements of Outputs

• Accurate accounts with quality, reliability, and timeliness in quarterly and annual financial reporting.
• Timely and accurate implementation of processes using detailed procedural manuals, policies, and documentation of business processes, reviewed and updated quarterly.
• Accurate forecasts and budgets aligned to balance sheet and cash flow projections.
• Manage relationships with key internal and external stakeholders effectively.
• Accuracy rate of financial information (e.g., number of audit findings).
• Risk mitigation actions implemented.
• Stakeholder satisfaction scores.

Expertise & Technical Competencies

a) Financial Accounting

• Thorough understanding of relevant accounting principles for DBSA and ability to guide others in their application.
• Implements controls for and monitors accounting transactions to ensure legal/regulatory compliance, and accuracy and timeliness of

accounting information.

• Ability to apply credit/collection concepts independently, and able to adapt or develop new procedures as needed within DBSA and

professional guidelines.

• Identifies bottlenecks and areas for improvement within the organisation’s Financial Services concerning the efficiency and accuracy of the existing financial systems and processes.

b) Costing and Budgeting

• Able to prepare and input budget information for various departments.
• Able to produce standard monthly cost/variance reports for distribution to line management.
• Provides analytical support to the Finance function in the preparation of financial proposals, submissions and projected costs to be included in budgets and allocations.
• Understands monthly close/trial balance procedures.
• Understands cost/revenue centre structure.

c) Detail Orientation

• Identifies multiple sources/approaches of information to ensure that details are addressed.
• Reviews the work of others for accuracy and thoroughness.
• Follows up to ensure tasks are completed and commitments met by others.

d) Financial Analysis

• Basic general knowledge of applicable statutes, regulations, entity/company practices and concepts.
• Interprets and applies laws and regulations, analyses information and evaluates the impact of policies/procedures and practices.
• Accumulates data; summaries information into pertinent, understandable, and presentable form; discerning valid from invalid comparisons of data; and seeking explanation for variations in the data.
• Initiates and maintains working relationships with stakeholders.

e) Financial Acumen

• Possesses sufficient expertise to establish an manage income and expenditure monitoring systems for own area of the business.
• Understands cost/revenue drivers within own area and is able to take actions to control resources and expenditure to meet financial targets.
• Understands basic management accounting reports and the processes by which financial resources are identified, obtained, allocated,

managed, and accounted for.

f) Planning and Organising

• Is relied on to helps another plan and organise their workload.
• Uses effectively advance time management processes to deal with high workload and tight deadlines.
• Organises, prioritises and schedules tasks so they can be performed within budget and with the efficient use of time and resources.
• Achieves goals in a timely manner, despite obstacles encountered, by organising, reprioritising and re-planning.

g) Reporting

• Designs / custom