Accountant (Managed Funds)

ACCOUNTANT (MANAGED FUNDS)

JOB OVERVIEW

Reporting to the Finance Manager the ideal candidate will focus on accounting activities of Managed Funds and Investment Collective Schemes.

KEY RESPONSIBILITIES

Managed Funds

• Prepares quarterly management accounts, including executive summaries with variance analysis, for the Board of Directors and Trustees.
• Oversees and manages accounting activities within the Finance section of Managed Funds and Investment Collective Schemes, ensuring timely and accurate financial reporting to Trustees/Directors.
• Ensures compliance with regulatory requirements by preparing and submitting Reserve Bank of Malawi (RBM) returns for Managed Funds.
• Coordinates the annual audit process, including the preparation of audit schedules, financial statements, and liaising with external auditors.
• Reviews and authorizes payments and funds transfers prior to approval by authorized signatories.
• Reviews monthly bank reconciliations and resolve discrepancies in a timely manner.
• Reconciles investment schedules (assets and income) with the Investments team to ensure completeness and accuracy of reported investments.
• Conducts reconciliations of technical figures (receipts & payments) with the NICO Pension Services Team and control accounts with NICO Life Insurance.
• Prepares and submits income tax returns in compliance with statutory deadlines.
• Supervise and mentors two Assistant Accountants, providing guidance and oversight.
• Prepares budgets for Managed Funds, Monitoring and implementation of the budgets for companies under management, ensuring all revenues and expenses are within budget lines.
• Implements internal controls to avoid leakages and ensure accurate financial information
• Reconciling monthly Investment Schedules received from the Investments Department to financial records
• Reconciles tax assessments by the Malawi Revenue authority against the tax return submitted by the company for companies under management and resolves any variances

Fund Ware

• Monitors and reconcile bank balances to ensure accuracy and resolve discrepancies.
• Performs Net Asset Value (NAV) reconciliations
• Reviews and approves payment vouchers, ensuring proper settlement of transactions.
• Provides advisory support to the Finance and Investments teams regarding system-related issues and troubleshooting.
• Runs End Of Day (EOD) processes for Pension Funds
• Supervises and trains two Finance Interns working on the Fund Ware system.

QUALIFICATIONS

• Bachelor’s degree in Finance, Accounting, or a related field (ACCA/CIMA will be added advantage).
• 4 Years’ practical experience in a supervisory/Managerial role
• Detail-oriented with excellent analytical and critical thinking skills.
• Basic understanding of financial markets and key stakeholder requirements such as Malawi Stock Exchange, MRA, RBM, Stockbrokers and Commercial banks.

HOW TO APPLY

Eligible employees are invited to submit their resume and cover letter to vacancy@nicoassetmanagers.com by 26th June 2025.