Scheme Accountant Job Description

Introduction

Purpose of the job

To maintain accurate financial records, ensure compliance with accounting standards and company policies, and provide financial information that supports decision-making.

Duties & Responsibilities

Key Responsibilities

Payments and bank reconciliations

• Review payment requisitions

• Facilitate payment approvals in compliance with the approvals framework

• Review broker commission calculations and ensure compliance with the Medical Schemes Act

• Review and approve cashbook journals

• Review and sign off bank reconciliations

• Resolve all reconciling items within 30 days to ensure accurate and timely financial reporting

• Review changes to the supplier banking details masterfile

Monthly journals and reconciliations

• Prepare standard and accrual journals

• Prepare debtors reconciliations and clear unallocated transactions

• Review statement of financial position reconciliations as prepared by the Scheme Assistant Accountant and clear reconciling items

• Monitor the age analysis, credit control efforts and clear outstanding balances that are 60 days, and older (debtors, members portions, suppliers, personal medical savings accounts)

Management accounts

• Review adequacy of claims provision and update the claims provision calculation matrix

• Prepare management accounts

• Assist with the preparation and submission of real time monitoring returns to the Council for Medical Schemes, ensuring information is complete, accurate, and submitted within the required timelines Statutory returns

• Obtain reports from providers and investment managers for the timely completion of regulatory submissions

• Manage availability of signatories and coordinate sign off by Trustees, Principal Officers and Fund Managers within agreed timelines

Year End

• Prepare audit schedules with supporting documentation

• Provide all financial information to scheme auditors during the annual and interim audits

• Provide assistance to auditors throughout the audit process

• Coordinate the audit process amongst other departments (IT, claims management, membership, credit control, etc.)

• Provide support to the finance manager, including the preparation of annual financial statements and executive reporting

Meetings and leadership

• Manage finance-related meetings with internal stakeholders

• Attend and represent scheme finance in ad-hoc meetings

• Represent scheme finance in a positive way, building relationships with internal stakeholders

• Provide effective leadership, supervision, and development of team members to ensure optimal performance and achievement of departmental objectives

Desired Experience & Qualification

• Bachelor’s degree in accounting, finance, or related field

• 3-5 years accounting experience – medical scheme experience would be advantageous

• Proficiency in Excel, Pastel (Sage 50), and Business Central would be advantageous

Skills and Competencies

• High attention to detail and accuracy

• Analytical and problem-solving skills

• Time management

• Communication skills

• Confidentiality and integrity

• High ethical and work standards

Key Performance

• Accuracy of financial reporting

• Timely month-end close

• Reconciliations and maintaining outstanding items within 60 days or less

• Compliance with statutory requirements

• Clean audits within budget

Package & Remuneration

Market related