JENNIFER TUMELO MODIKOE
Johannesburg,Ferndale
Summary
Collaborative leader dedicated to partnering with colleagues, subordinates and cross functional teams to achieve business results. Accomplished manager within finance at Eskom Holdings SOC, adept in financial management and team leadership. Excelled in enhancing customer satisfaction and financial performance as well as reducing month-end closing times by working efficiently. Skilled in SAP, accounting standards, PFMA and Eskom policies, procedures and PCMs.
Overview
16
16
years of professional experience
Work History
Manager - Project Accounting
Eskom Holdings SOC
05.2016 - Current
- Oversee project accounting function of the program and provide financial support to the project senior manager and the entire project management team.
- Financial support provided is aligned to International Financial Reporting Standards. Ensure that project finances are compliant with accounting standards, statutory laws as well as Eskom governance processes throughout project life cycle.
- Manage and review project finances from inception as per project life cycle model to completion (i.e.: project creation, work breakdown structure creation, budget allocations, correct allocation and capturing of costs, transfer of projects from AUC to PPE up to final close out of project).
- Interrogate, influence and compile projects monthly, quarterly, and annual CAPEX and cash flow budgets.
- Analyze project budgets and durations in line with Eskom governance processes.
- Compile and present accounting reports that assist the project management team in making decisions and managing projects.
- Manage and supervise project accountants by reviewing all reports in terms of accuracy, quality, and timely submission of information.
- Provide guidance and coaching and manage conflict.
- Enhanced customer satisfaction by resolving disputes promptly, maintaining open lines of communication, and ensuring high-quality service delivery.
- Facilitated successful cross-functional collaborations for completion of key projects, fostering strong working relationships among team members.
- Managed and motivated employees to be productive and engaged in work
Manager Financial Accounting and Compliance
Eskom Holdings SOC
12.2009 - 04.2016
- Manage relations with creditors by being the departmental liaison with between th business unit and creditors as well as accounts payables.
o Attend to supplier queries.
o Arrange and chair meetings between Eskom and creditors to resolves issues.
o Verify invoices and documentation for submission to accounts payable. - Review and monitor general ledger accounts.
- Review creditors’ reconciliations and monthly feedback sent to suppliers.
- Ensured compliance with accounting standards and regulations through meticulous record-keeping and documentation practices.
- Verification and approval of journals..
- Ensure that all payments are compliant with VAT requirements and correct GL allocation and IFRS classification.
o Provide guidance to AP processors on complex transactions (e.g.: retentions, advance payments, foreign transactions)
o Liaise with Treasury and Forex Coordinators on foreign transactions.
o Review forward cover against commitments with foreign exposure. - Develop strategies and processes to better manage compliance, creditors, and cash flows.
- Provide financial accounting and compliances services to business area by:
o Ensuring all transactions are IFRS compliant.
o Suppliers are paid timely and accurately.
o Attend to audit queries and close out any issues identified. - Compile and monitor monthly cash flow forecasts.
- Support cash flow optimization efforts by actively monitoring parked invoices and general ledger accounts and pursuing payments.
- Streamlined invoice processing for timely payments by implementing efficient departmental systems.
- Supported successful onboarding of new accountants by sharing expertise, offering mentoring, and collaborating on execution of different projects.
- Trained new employees on accounting principles and company procedures.
- Managed and motivated employees to be productive and engaged in work.
- Accomplished multiple tasks within established timeframes.
- Maximized performance by monitoring daily activities and mentoring team members.
- Managed relationships with external auditors effectively ensuring positive outcomes during annual audits.
- Reported financial data and updated financial records in ledgers and journals.
- Used double-entry accounting methods and check backs to manage daily entries to general ledgers.
- Assisted in annual audit preparations, ensuring a smooth process with no major discrepancies found.
- Maintained up-to-date knowledge of relevant accounting standards and company policies and procedures.
Project Accountant
Eskom Holdings SOC
10.2008 - 11.2009
- Monitored project costs, developed quarterly forecasts and managed cash flow.
- Prepare comprehensive financial reports for senior project managers, providing valuable insights into project performance.
- Reviewed and verify travel claims, payment requisitions, purchase requisitions and local purchase orders.
- Improved project budget accuracy by diligently tracking expenses and regularly reviewing project forecasts with project managers.
- Facilitated smooth audit process with detailed documentation of project-related transactions, minimizing audit findings and recommendations.
- Assisted in the development of annual CAPEX budgets by gathering historical data, analyzing trends, and collaborating with department heads on projections.
- Contributed to successful project completion by providing timely financial data analysis for informed decision-making processes.
- Ensured consistent application of company and IFRS expense policies across all project teams by providing guidance on proper procedures.
- Ensured compliance with accounting standards and regulations through meticulous record-keeping and documentation practices.
- Enhanced communication between accounting and project management teams with regular financial updates and collaborative meetings.
- Authorized and reviewed funds transfers between projects and different asset classes within projects.
- Reduced discrepancies in financial reporting by conducting thorough AUC account reconciliations and adjusting entries as needed.
- Informed strategic decisions regarding resource allocation by presenting detailed analyses of capital expenditure requests to senior management.
- Implemented effective cost control measures, proactively identifying deviations from budgets and taking corrective action when necessary.
- Continuously improved financial reporting processes to increase accuracy, timeliness, and relevance for stakeholders involved in project decision making.
- Set up and managed project accounting systems.
- Increased efficiency of month-end closing procedures through streamlining tasks such as account reconciliations, journal entry preparations, and report generation.
- Identified potential cost savings opportunities by analyzing project expenditures and recommending adjustments to budget allocations.
- Assessed and forwarded project overhead estimates in accordance with budgets.
- Reported and assessed project profitability to leadership.
- Collaborated with project managers to develop accurate cost estimates for upcoming projects.
- Contacted customers to immediately find resolutions for escalated issues.
- Assessed, cleaned and closed out accounts with depleted funds upon project completion.
- Tracked funds, prepared deposits and reconciled accounts.
- Collected and reported monthly expense variances and explanations.
- Used accounting software to issue tax returns and prepare consolidated reports.
- Partnered with auditors to track errors and add contributions to maintain accuracy.
- Cooperated with senior leaders to create CAPEX and OPEX budgets and initiate financial planning.
- Trained new employees on accounting principles and company procedures.
- Prepared working papers, reports and supporting documentation for audit findings.
- Provided journal entries and performed accounting on accrual basis.
- Maintained integrity of general ledger and chart of accounts.
- Contributed financial input on assessments to check viability and key performance health index of projects.
Education
Bachelor of Arts - Accounting
North West University
Vanderbijlpark, South Africa 04.2001 -
High School Diploma -
Hyde Park High School
Hyde Park, South Africa 04.2001 -
Skills
Leadership, Teamwork and Collaboration
MS Office
SAP (Accounting, Project Systems, Materials Management)
Analytical Skills
Timeline
Manager - Project Accounting
Eskom Holdings SOC
05.2016 - Current
Manager Financial Accounting and Compliance
Eskom Holdings SOC
12.2009 - 04.2016
Project Accountant
Eskom Holdings SOC
10.2008 - 11.2009
Bachelor of Arts - Accounting
North West University
04.2001 -
High School Diploma -
Hyde Park High School
04.2001 -
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