Payroll Accountant

Overview

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.

Key Responsibilities

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.

Attributes, Qualifications, Skills & Experience

• 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.

Competencies & Personal Attributes

• 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.