BMW Group South Africa
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)
Apply via company website ( ) or
www.bmwgroup.jobs