SF3-ZA-F-1,SF3-ZA-F-1 / Specialist: Accountant

Job Purpose

The Specialist Accountant is responsible for the general accounting of transactions within BMW Finance, including Insurance, Commercial Finance, Risk and Securitisation.

Key Accountabilities

• Daily clearing of Commercial Finance suspense accounts.
• Ensure that the accounting between CFS (Commercial Finance) and SAP is accurate and timely.
• Preparation of month-end reconciliations and addressing of old long outstanding reconciling items.
• Approve CFS ticket log and allocations on the system relating to accounting matters.
• Responsible for month end, top up and buy back process for securitisation transaction.
• Preparation of servicer report on a quarterly and submit to the administrator (Maitland)
• Preparation of month-end reconciliations and addressing of old long outstanding reconciling items.
• Responsible for the preparation of the BA501 regulatory reports, Securitisation audit and AFS process.
• Responsible for the Securitisation audit and AFS process.
• Attend monthly steering committee meetings with the insurance service providers
• Attend to invoicing for insurance marketing and commission fees to the relevant insurance service providers.
• Ensure that the accounting between Guard-risk (Insurance business) and SAP is accurate and timely
• Provide month end accounting and attend to month end queries before closing out of a period.
• Posting of monthly journals, perform monthly reconciliations and investigate any differences.
• Regular interaction with Insurance providers to ensure that accounting records reflect correctly between each other.
• Liaise with securitization’s administrators to ensure that accounting records reflect correctly between each other. In addition to ensure that all monthly and quarterly submission and requirements are adhere to.
• Regular interaction and review with internal and external stakeholders in relation to mandatory accounting submissions, as well as ad hoc projects that need the participation of the accounting department.
• Attend to any other requests from management and provide regular updates on the status of the business from time to time.

Educational Background / Professional Knowledge and Experience / Other Skills

• Bachelor’s Degree with Accounting as a major.
• Newly qualified Chartered Accountant (CA)(SA) is preferable or had articles experience.
• 3 years financial accounting experience within the financial services industry
• Financial Services Experience, as well as knowledge of the motor industry
• Knowledge of accounting software, e.g. SAP
• Knowledge of  IFRS ( International Financial Reporting Standard), South African Tax Acts (inclu. VAT And TAX)