BMW Group Accounting / Finance Jobs in Midrand
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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 the month-end, top-up, and buy-back process for securitisation transactions.
- 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.
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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 of 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)
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