Financial Manager (Scheme Finance)

Introduction

Through our client-facing brands Momentum Group, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members.

Disclaimer

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Role Purpose

Preparation, interpretation and presentation of accurate financial information.

Requirements

• CA (SA) accreditation is essential
• 2 - 3 years' experience in the insurance industry
• Understanding of the financial services environment

Duties & Responsibilities

• Financial reporting in compliance with statutory requirements
• Review and presentation of accurate financial information, monthly management accounts and annual financial statements to internal and external stakeholders.
• Review and submission of regulatory reporting requirements for the Council for Medical Schemes
• Develop and maintain relationships with Board of Trustees, Scheme Committees and Scheme Management.
• Oversee the delivery of accurate and relevant management reports and analysis that add value and insight for the business.
• Deliver monthly financial statements to stakeholders within agreed timeframes and adequately address and resolve stakeholder queries.
• Manage the implementation and adherence to financial controls and ensure that authorisation levels are adhered to and raise any exceptions with the relevant stakeholder.
• Implement process improvements in order to enhance financial management processes and creates efficiencies.
• Prepare and provide necessary documentation to complete timely audit.
• Contribute to the internal and external audit process and resolve any audit queries within deadlines.
• Manage the resolutions of scheme financial queries.
• Review the reconciliations of the transactions on the bank statement and sub ledgers to the General Ledger.
• Investigate, identify and make improvements for effective cost management.
• Manage execution of the financial aspects of contracts and verify that all financial commitments listed in agreement are met based on the terms written in the contract.
• Implement system improvements in order to enhance financial management processes and create efficiencies.
• Monitoring of financial compliance with the Medical Schemes Act and the regulations thereto including the review and understanding of changes to legislation and review of impact upon the Scheme and the communication of the impact upon the Schemes.

Competencies

• Understands how the business operates, what the key issues and risks are that drives business success and how they impact on the commercial viability of potential ventures and the profitability of the Group
• Anticipates, meets and exceeds client's needs by creating long lasting relationships that support the client value proposition, supports their financial wellness and ensures client centricity.
• Actively leads change, does what is right for the business and drives continuous improvement through innovation.
• Prioritises the business interests of Momentum Health and invests in the success of the group by aligning effort across divisions.
• Persuades, convinces, influences and inspires others, both within Momentum Health and externally to win support, loyalty and gain commitment to the purpose of Momentum Health.
• Is sensitive to individual and cultural differences and demonstrates humility and an openness to engage people from diverse backgrounds and cultures to the mutual benefit of all parties concerned.
• Analytical thinking
• Accounting skills