Payroll Accountant

If you want to be part of a global organisation and have access to global best practices, an opportunity has arisen for a Payroll Accountant at M&G Investments. The successful candidate is responsible for ensuring accurate and timely payroll processing, compliance with tax and labor regulations, and maintaining payroll records. This role works closely with the Human Capital and Finance teams to support employee compensation and benefits administration.

Payroll

• Provide in house payroll administration to approximately 190 employees (2 local and 1 Namibia entity)
• Ensure company compliance with relevant legislative and statutory payroll requirements
• Facilitate employee salary and benefit payments
• Reconcile fixed and variable input e.g. salaries, fringe benefits, incentives, overtime and bonuses
• Create and provide detailed customised reporting for line managers
• Prepare and complete annual and bi‐annual IRP5 reconciliations submitted via SARS Easyfile
• Prepare and submit monthly statutory returns electronically, or manually as required (PAYE, UIF, SDL, COIDA, Namibian Employee’s tax, VET and SSC)
• Complete statutory ad hoc returns ‐ e.g. SARS Tax directives, Department of Labour and StatsSA

Payroll system

• Create new employees on system and manage employee information
• Create reports and batch files where required
• Maintain company hierarchy database
• Manage payroll, HR definitions and GL setup
• Maintain full list of parameters i.e. Job titles, departments, Management Category, etc.
• Implement new statutory and company policies
• Maintain and update Self Service portal where required
• Manage relationship with IT for system updates, infrastructure and modules scheme

Employee Benefits

• Liaise with brokers and direct employee benefit service providers
• Add, maintain and remove employees from all company provided benefits
• Add, maintain and remove participants in company share scheme
• Reconcile all benefits to invoice, payroll and general ledger
• Advise employees on company benefits and structures (including company share scheme)
• Administer and maintain employee LTI and STI schemes
• Prepare all employee increase, bonus, IT3(b) and dividend letters
• Complete dividend withholding tax returns and submit to SARS

Accounting

• Process monthly cashbooks for salary related bank accounts and investments
• Prepare and process monthly accruals and provisions
• Reconcile all salary, bonus and employee benefit related general ledger accounts
• Process any relevant year end journals and adjusting entries
• Prepare trial balance for 2 trusts

Banking

• Set up payment of net salaries, bonuses and dividends
• Process all salary related 3rd party payments
• Manage cash flow of 6 Standard Bank Business Accounts (Including 2 Namibian accounts)
• Process any ad hoc payments when required

Annual Budgets

• Prepare annual salary related budgets and forecasts

Annual Financial Statements

• Process relevant year end journal entries
• Prepare trial balance for 2 trusts
• Compile and prepare Directors’ Remuneration note for consolidated AFS

Management accounts

• Provide monthly salary information and provisions for management accounts

Audit

• Prepare and assist audit packs for external auditors relating to the functions mentioned above

Any other duties that may be reasonable from time‐to‐time

• Any ad hoc duties relating to HR/ Finance.

• Relevant tertiary qualification advantageous.
• Experience: Minimum 3-5 years’ working experience on a payroll system.
• Sage People experience essential.
• Knowledge of Accounting System (Sage Intacct or other).
• Software: MS Word, MS Excel, MS Outlook, MS PowerPoint.
• Sound knowledge and experience of PAYE and statutory compliance and understanding of employee benefits.

• Attention to detail/high accuracy levels.
• Strong planning and co-ordinating skills and good time management.
• A team player and able to build strong working relationships with colleagues and service providers.
• Numerical skills with an aptitude for numbers (including routine work).
• Good communication skills, both in oral and written form.
• Ability to problem solve independently (being able to perform appropriate research, with the ability to interpret and understand legislation).
• Able to adapt and thrive in a dynamic environment that is largely team oriented.
• Thorough understanding of tax legislation.

M&G Investments is a global asset manager with operations in 28 countries, around 5.5 million retail clients and R8.1 trillion in assets under management and administration. We are also one of South Africa’s top 10 asset managers, with approximately R317 billion in assets under management.

For 30 years we have built up an admirable local track record for delivering consistently strong performance over time. Our aim is to help our clients achieve their financial goals, whether investing towards their first house, their children’s education, or making sure that they have enough funds to retire comfortably.

We work closely with experts across M&G plc’s worldwide operations to bring clients access to the latest technology, investment ideas and research. We incorporate sustainable thinking in everything we do, from the way we run our business to the impact we have on the planet and our communities. To help us achieve our vision, we’re looking for exceptional people who live our values of care and integrity and who can inspire others, embrace change, deliver results and keep it simple. We’re looking for people who will enjoy the challenge of working in an ambitious business that’s set on transforming the industry.

We are building a diverse and inclusive environment where everyone can thrive. In order to meet the objectives set in our Employment Equity plan, preference may be given to suitably qualified candidates from designated groups.