Qualification/s Requirements
A Grade 12 is required coupled with a minimum National Diploma (equivalent to NQF level 6) in Accounting, Economics or Finance;
A Bachelor's Degree (equivalent to NQF 7) in any of the above disciplines is added advantage;
A minimum 3 years' experience obtained in Finance environment; and
Knowledge and experience in cash management.
Key Performance Areas
Cash flow forecasting:
Forecast cash flows over the short, medium, and long term on a monthly and daily basis;
Ongoing review of cash flow statements in line with reporting standards;
Manage bridging finance facilities to cover short-term liquidity shortfalls;
Perform "Inday" cash flow forecasts for the government's net cash requirements;
Prepare procedure manuals for undocumented processes and attend to audit requests;
Update and monitor actual cash flow against reported projected cash flow - variance analysis and follow up with relevant parties;
Maintain schedules of non-tax revenue receipts, analyse and recommend forecasting improvements;
Convene and maintain records of meetings with (the South African Revenue Service (SARS) on forecasting of tax revenue; and
Maintain close contact with departments to improve cash flow forecasts.
Manage Exchequer investments:
Maintain signing arrangements and FICA documents for investment accounts;
Maintain daily investment limits in the Tax and Loan accounts utilising the prescribed credit risk ratios/limits and assessing the reasonableness of interest earned in the exchequer accounts;
Maintain cash book for investment accounts and develop procedure manuals for undocumented processes;
Provide inputs and attend to audit queries;
Record and reconcile interest earnings on all Exchequer investment accounts: Tax and Loan accounts, investments in the Corporation for Public Deposits (CPD) accounts, and foreign currency deposits; and
Engage stakeholders and participate in projects for the automation of manual processes (Exchequer Accounts) and provide inputs to entities and departments on application process of opening a bank account.
Optimise the use of broader public sector cash:
Maintain cash books and reporting statements of Corporation for Public Deposits (CPD) accounts;
Monitor daily CPD balances and reconcile with SARB;
Arrange meetings with the South African Reserve Bank (SARB) to agree on the optimal borrowing/ investments of CPD cash;
Engage with provinces and other CPD depositors regarding cash flows on their accounts;
Maintain forecasting of balances in CPD to ensure that money in CPD is sufficiently utilised; and
Assist with CPD projects.
Execute daily bank account transactions:
Perform "Inday" cash transfer transactions between the Exchequer and the Tax and Loan accounts;
Perform transactions between the government's cash management accounts at SARB;
Account for all bank account transactions, including fund requisitions, transfer/ payment advice, and reconciliations;
Maintain business continuity processes to ensure that banking transactions are conducted;
Perform weekly, monthly, and yearly reconciliation of all figures and submit to stakeholders; and
Attend cash management activities that might require attention from time to time.