Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
The role is responsible for the financial accounting of all the entities related to incentive schemes relating to Old Mutual Investments, work on the incentive schemes itself as well as providing support on the Group reporting requirements. The Old Mutual Investments has several incentives schemes to attract and retain staff. These are done by offering staff restricted equity instruments which are housed in various entities.
Primary Functions:
1. Financial Reporting
- Control and oversight of the GL for the entities
- Preparing and reviewing of journals
- Preparing and reviewing of bank reconciliations
- Preparation of information for Board packs, beneficiary packs
- Responsible for audit liaison and preparation of annual financial statements
- Compliance with tax, legislative and statutory requirements
2. Carried Interest and co-investment Schemes
- Provide financial information for investor communications, including periodic reporting
- Calculate investor distributions and contribution amounts required
- Preparation of drawdown/distribution notices
- Maintenance of investors capital commitment accounts and unit/share registers
- Prepare response to investor queries and requests
3. Medium Term Incentive Scheme
- Maintaining Cash flow for each participant employer
- Maintaining proper accounts of all investments, vesting of funds, switches, redemptions (e.g resignations, retrenchments, etc.)
- Maintain proper accounts of all resigned accounts per employer
- Maintaining CGT calculations of all switches & redemptions
- Maintain Trial Balance, Income Statement, Balance Sheet, Reconciliations
4. OMIG Management Equity Scheme
- Preparation of monthly journals for each participating
- Maintaining proper accounts in respect of vested and forfeited shares
- Maintenance share register
5. Ad-hoc
The remuneration arena is dynamic and therefore the incentive structures are often redesigned to align to OMIG’s strategy and market trends. The schemes listed above may change from time to time and the role may have additional ad-hoc functions from time to time.
Basic Job Requirements
- BCom + Articles
- 3-5 yrs experience in financial services
- Management Accounting knowledge
- Knowledge of IFRS
- Exposure to tax
Competencies Required
- Technical knowledge, including the application of Great Plains GL
- Some commercial knowledge of asset management
- Contractual competence
- Good planning and organizing skills
- Strong Excel skills
- Proactive and analytical orientation
- Attention to details
- Adaptability
- Able to multitask
Skills
Financial Accounting, Financial Reporting and Analysis, Management Reporting
Education
Bachelor of Commerce (BCom) (Required)
Closing Date
22 October 2024
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.
All prospective employees are required to disclose their vaccination status as part of the recruitment process.
Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.
About Us
Old Mutual is a premium African financial services organisation that offers a broad spectrum of financial solutions to retail and corporate customers across key market segments in 14 countries. The lines of business include Life and Savings, Property and Casualty, Asset Management and Banking and Lending.
We are rooted in our purpose of Championing Mutually Positive Futures Every Day and believe that a great customer experience is anchored in a great employee experience.
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