| JOB NAME |
Assistant Financial Accountant [Midrand]
POSTED BY: Development Bank of Southern Africa
REF:DBSA 2078
Date Published:Wednesday, January 15, 2025
Date of Expiration:Monday, July 14, 2025
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| LOCATION OF THIS JOB |
 South Africa | MIDRAND in South Africa |
| INDUSTRY |
| DEVELOPMENT FINANCE INSTITUTIONS
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| JOB TYPE |
| Full-Time |
| MAIN JOB DESCRIPTION |
Closing Date 2025/01/28
Reference Number DBS241220-1
Job Grade 13
Job Type Classification Permanent
Location - Town / City Midrand
Location - Province Gauteng
Location - Country South Africa
JOB DESCRIPTION
1. To prepare and process accurate financial and non-financial information for financial statements and management reporting purposes of the Development Bank Of Southern Africa.
2. This role is integral to maintaining financial accuracy and providing the insights needed for effective decision-making.
KEY RESPONSIBILITIES
Financial Management
1. Maintain an understanding of the asset and liability portfolio to understand the impact on the balance sheet and cash flow statement disclosures.
2. Ensure ongoing compliance with financial, tax, and related regulations.
3. Implement financial policies and procedures that consistently support business operations.
4. Contribute to proactive and regular forecasting and scenario planning for corporate balance sheet and cash flow statements.
5. Manage and control payments to prevent fraudulent activities.
6. Enhance financial control standards and ensure effective management of working capital, margin management, risk management, and disciplined financial best practices.
7. Execute daily clearing and reconciliation of DBSA bank accounts.
8. Process all journal entries, supplier invoices, and debtors invoices.
9. Montly preparation of financial information used in financial reporting and management reports.
10. Prepare and reconcile creditors' and debtors accounts.
11. Contribute to the preparation of monthly, quarterly, and annual reports, including variance reporting in collaboration with business and report to funders of programs and other key stakeholders.
12. Prepare annual IFRS compliant annual financial statements.
13. Manage the annual external audit process and preparation of regulatory submissions.
Management Reporting and Information Systems
1. Analyse and report on the Bank's income and expenses, providing insights to the business.
2. Draft financial and statistical reports to support executive decision-making.
3. Provide support in forecasting and scenario planning for both corporate and divisional operations.
4. Draft budget forecasts for DBSA, covering both loan-related and non-loan-related activities.
5. Prepare financial plans and budgets to assist in executive decision-making.
6. Provide management accounts reports for the CFO, CEO, and Board.
7. Implement and enhance financial, budgetary, and forecasting systems and processes to align with organiational needs.
8. Lead group management accounting to ensure accuracy, completeness, and reliability of business information for decision-making, trend analysis, forecasting, and action planning.
9. Collaborate to maintain and update the pricing model for agencies and mandates.
10. Align financial policies, procedures, and strategies with SAP FICO IT design to reflect business and financial rules.
11. Drive continuous improvement in management information reporting and system enhancements within the finance division.
12. Review actions against the organisational plan (Balance Score Card) and consider the "big picture" when identifying opportunities.
13. Stay informed about DBSA’s business functions and industry developments.
14. Ensure compliance with legislative, financial, tax, and related matters, including Treasury and PFMA requirements.
15. Prepare or review journal entries for accuracy and potential errors.
16. Collaborate with business and other finance functions to ensure timely and accurate management reporting.
17. Perform monthly VAT SARS e-Filing submissions.
18. Conduct weekly and as required stakeholder meetings with the relevant business key stakeholders
19. Participate in ad hoc financial projects to enhance financial control across the business.
Stakeholder Management
1. Provide direction and management to colleagues where applicable.
2. Build relationships with stakeholders across the organisation to ensure open communication and a deep understanding of the Bank’s operations.
Key measurements of outputs
1. Understanding of Core Operations: Accurate interpretation of DBSA’s core operations.
2. Initiative through active contribution to new initiatives.
3. Accuracy, quality and timeliness of quarterly and annual accounts.
4. Effective execution and monthly updates of financial processes.
5. Budget and forecast accuracy: precision in balance sheet and cash flow projections.
6. Management of client relationships and key internal and external Stakeholders.
7. Continuous learning through new finance skills acquired.
8. Active participation in working groups and committees.
9. Liaison with external and internal auditors and achieving a clean Audit result.
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| REQUIREMENTS FOR THIS JOB |
EXPERTISE & TECHNICAL COMPETENCIES
Financial Accounting
1. Thorough understanding of relevant accounting principles for DBSA and ability to guide others in their application.
2. Implements controls for and monitors accounting transactions to ensure legal/regulatory compliance, and accuracy and timeliness of accounting information.
3. Ability to apply credit/collection concepts independently, and able to adapt or develop new procedures as needed within DBSA and professional guidelines.
4. Identifies bottlenecks and areas for improvement within the organisation’s Financial Services concerning efficiency and accuracy of the existing financial systems and processes.
Costing and Budgeting
1. Able to prepare and input budget information for various departments.
2. Able to produce standard monthly cost/variance reports for distribution to line management.
3. Provides analytical support to the Finance function in the preparation of financial proposals, submissions and projected costs to be included in budgets and allocations.
4. Understands DBSA monthly close/trial balance procedures.
5. Understands DBSA cost/revenue centre structure.
Detail Orientation
1. Identifies multiple sources / approaches of information to ensure that details are addressed.
2. Reviews the work of others for accuracy and thoroughness.
3. Follows up to ensure tasks are completed and commitments met by others.
Financial Analysis
1. Basic general knowledge of applicable statutes, regulations, entity/company practices and concepts.
2. Interprets and applies laws and regulations, analyses information and evaluates the impact of policies/procedures and practices.
3. 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.
4. Initiates and maintains working relationships with stakeholders.
Financial Acumen
1. Possesses sufficient expertise to establish and manage income and expenditure monitoring systems for own area of the business.
2. Understands cost/revenue drivers within own area and is able to take actions to control resources and expenditure to meet financial targets.
3. Understands basic management accounting reports and the processes by which financial resources are identified, obtained, allocated, managed, and accounted for.
Planning and Organising
1. Is relied on to helps other plan and organise their workload.
2. Uses effectively advance time management processes to deal with high workload and tight deadlines.
3. Organises, prioritises and schedules tasks so they can be performed within budget and with the efficient use of time and resources.
4. Achieves goals in a timely manner, despite obstacles encountered, by organising, reprioritising and re-planning.
Minimum Requirements:
1. A Bachelor of Commerce in Accounting Degree
2. A minimum of 3 years experience in management accounting in a large, complex organisation with multidimensional businesses within the banking sector.
3. A strong career track record in financial accounting in a large, complex organisation with multidimensional businesses or within the financial services for a minimum period of 3 years.
4. Experience in the preparation of IFRS compliant financial statements.
5. Working experience in taxation computations and SARS e-filing submissions (value-added tax and PAYE).
6. Strong understanding of and a strong commitment to good corporate governance and specifically international reporting standards including IFRS and other regulatory requirements including the PFMA.
7. Excellent accounting and reconciliation skills.
Desirable Requirements:
1. CIMA Qualification or CA (SA).
2. Completion of accounting articles at an audit firm.
3. Exposure to African global markets.
4. Strong advanced Microsoft Excel modelling skills.
5. Previous experience in a development finance environment or financial services or medium to large corporates.
REQUIRED PERSONAL ATTRIBUTES
Customer Service Orientation
1. Tries to understand the underlying needs of customers and matches these needs to available or customised products and services.
2. Adapts processes and procedures to meet on-going customer needs.
3. Utilises the feedback received by customers to develop new and/or improve existing services/products that relate to their on-going needs.
4. Thinks of new ways to align DBSA’s offerings with future customer needs.
Self-awareness and Self Control
1. Withholds effects of strong emotions in difficult situations.
2. Keeps functioning or responds constructively despite stress.
3. May apply special techniques or plan ahead of time to manage emotions or stress.
Strategic and Innovative Thinking
1. Experiments with new approaches, tests scenarios, questions assumptions, and challenges conventional thinking.
2. Creates new concepts that are not obvious to others, leveraging internal and external sources of information, to build incremental revenue and growth opportunities.
Driving Delivery of Results
1. Sets challenging goals that will have a significant impact on the business or support the organisational strategy.
2. Commits significant resources and/or time to ensure that challenging goals are achieved, while also taking action to mitigate risk.
Teamwork & Cooperation
1. Acts to promote a friendly climate and good morale, and resolves conflicts.
2. Creates opportunities for cross-functional working.
3. Encourages others to network outside of their own team/department and learn from their experience.
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