Please note that this is a re-advertisement.  Any candidates which have previously applied for this position, may re-apply.

 

The BANKSETA is a statutory body established through the Skills Development Act of 1998 to enable its stakeholders to advance the national and global position of the banking and alternative banking industry. As guided by its mandate, the BANKSETA is as such an agent of transformation by promoting employment equity and broad-based black economic empowerment through skills development.

 

Reference Number:	BSFINSPEC102024
Job Title:	Specialist: Finance
Job Band:	C
Reporting Line:	Manager: Finance
Full-time/Part-time/Contract:	Full Time
Location:	Gauteng - Centurion (Head Office)

 

Remuneration: R 614,127.54 – R 777,894.87 CTC per annum. The purpose of the role:

To assist the Finance Manager in delivering the division’s financial management, accounting, compliance, reporting, audit and risk responsibilities.

 

In all work, adherence to the PFMA, grant regulations, National treasury guidelines and other applicable legislation in all aspects is mandatory and appropriate planning and preventative measures should be taken to avoid irregular and/or fruitless and wasteful expenditure work.

A strong level of internal controls and segregation of duties should be maintained, and work is to be done within agreed timelines and approved business processes.

Main Responsibilities:

 

Accounting and Financial Management

 

• Maintain up to date, effective, efficient, accurate and comprehensive accounting records on the approved accounting systems covering all aspects of assets, liabilities, revenues and expenditures of the BANKSETA in terms of GRAP and relevant grant regulations.
• Ensure that all assets and liabilities are fully recorded, accurately classified and any transactions are recorded timeously. Monthly substantiation of all balances to third party documentation or assets and maintenance of detailed subledgers or registers where applicable, should be done. Ensure appropriate accruals and provisions are raised.
• Ensure that all revenue and expenditure transactions are processed timeously, accurately, and correctly allocated. Maintain comprehensive supporting documents, subledgers and records to support entries by third party. Ensure full reconciliations to DHET or other third-party data is maintained monthly as well as reconciliations for any interSETA transfers.
• Ensure all transactions are correctly allocated between admin, employer, and discretionary reserves.
• Ensure processing and payment of all creditors, expenses and liabilities within agreed timelines, and that monthly creditor reconciliations and adequate follow ups are done,

 

• Ensure processing and payment of mandatory and discretionary levies and grants is done within agreed timelines. Liaise with DHET, other divisions staff and stakeholders to ensure smooth operations of levies cycle, creditors cycle and grant cycles.
• Ensure that detailed reconciliations are performed monthly between the information on MIS system and financial information.
• Manage cashflow projections and investment administrations within the approved investment policy,
• Maintain a detailed asset register reconciled to the relevant asset accounts and ensure a full fixed asset count is conducted and reconciled bi-annually.

Budgeting and forecasting

• Maintain approved budgets by division/project/DG area on the accounting system in sufficient detail to facilitate comparison to actual expenditure and to determine availability of budgets at any point during the month to facilitate decision making,
• Process budget reallocations as needed.

 

Other

• Maintain divisional, projects, discretionary and mandatory grant coding, account node roll up and general ledger coding in sufficient detail to enable decision making.

A clear delegations framework showing the levels at which the Finance Specialist may authorize journals and entries is in place.

Reporting

• Ensure all postings are complete by business day 7 of the following month.
• Compile quarterly DHET reports in the prescribed format.
• Compile a detailed monthly financial management pack including budget comparison, and variance commentary using the prescribed template.
• Provide assistance in compilation of financial information for the Board and Board Committees.
• Provide assistance in compilation of the annual report.
• Provide adhoc financial reporting as required for internal stakeholders.

 

Analysis

• Check analytics models for levies, grants, creditor and bank payment patterns per stakeholder/service provider for unusual patterns. Investige and/or escalate discrepancies and unusual patterns.

Policies and Business Processes

• Assistance in annual policies review.
• Update written business processes/procedures for finance as and when changes occur.

 

Projects and Discretionary Grant Administration

• Monitor commitments schedule and ensure it is balanced to creditors records (working closely with Projects administrator (Finance).
• Monitor DG commitments and ensure it is balanced to any DG assets or liabilities.
• Attend BANKSETA Project Management meetings.

 

Internal & External Audit and Compliance Outputs to deliver the responsibility: Under the supervision of the Finance Manager:

• Provide and collate audit evidence for submission to the auditors.
• Follow up on implementation plans for any audit logs raised within area of responsibility.

 

Risk Management

Outputs to deliver the responsibility:

Under the supervision of the Finance Manager:

• Identify and communicate financial, technological, reputational or legal risk within area of responsibility.
• Liaise with management and other parties to mitigate identified risks; Monitor risk management implementation plans within area of responsibility.

Internal Meetings (Staff –Management – Departmental feedback) Outputs to deliver the

responsibility:

• Attend monthly interdivisional finance meetings.
• Compile finance overview and maintain a dashboard of outstanding issues for discussion with managers.

Competencies:

 

• Integrity
• Problem solving/analytical.
• Presentation skills
• Resilience and drive
• Innovation and resourcefulness
• Empowering self and others
• Numeracy and spreadsheet proficiency
• Delivery orientation
• Service focus.
• Attention to detail and accurate output.
• Strong administrative skills
• Good interpersonal skills and
• Effective communications skills at all levels

 

Knowledge and Skills Required:

 

• Sound understanding of financial matters, GRAP.
• Understanding/knowledge of relevant South African legislation including: PFMA, National Treasury Regulations
• Knowledge of sector and sector dynamics

 

Minimum Requirements:

 

• A minimum of 3-5 years’ experience in the financial sector
• Relevant degree in finance/equivalent

 

Closing date for applications: 11 November 2024

 

 

Note: Preference will be given to candidates who meet BANKSETAs Employment Equity Plan. White and coloured males/females are encouraged to apply.