Simphiwe Mkhize

• Preparing and analyzing monthly financial reporting, highlighting trends and investigating anomalies.
• Presenting numerical and graphical data to demonstrate strategic progress to profitability managers.
• Working closely with the reinsurance technical team to ensure that the facultative and treaty arrangements currently in place are processed and presented accordingly.
• Working closely with the actuarial team to ensure the reserving amounts being reported in the financials are correct and are fairly presented.
• Creating and maintaining expense models for various divisions and cost centres.
• Liaising with budget holders to evaluate financial performance and offer financial management data, analysis and offer advice.
• Producing monthly and quarterly business review reports to explain the financial performance for members of Exco.
• Assistance and management of all financial requests from stakeholders, executive management and third parties.
• Identifying financial and business risks within the Specialty, Personal and Commercial Lines division.
• Developing customer solutions (process, product, systems) to address changing service requirements, as well as to implement customer centric strategies and ensure customer satisfaction.
• Streamlining and integrating existing business processes and systems (Journal automation project)
• Optimizing departmental performance through targeted business intelligence to ensure that it becomes the primary way of driving performance and execution.
• Overseeing internal and external audit queries and formulating corrective action plan for findings and recommendations response.
• Reviewed historical records, current operational data and forecasting information to identify and capitalize on system enhancement opportunities.
• Generating monthly premium, claims and commission data by division
• Administering financial aspects of data, including establishing and checking coding procedures, monitoring reports and updating internal files.
• Validating existing accounting management and reporting systems to assess quality and conformance, identify problems and implement corrective actions.
• Establishing and enforcing internal controls, workflows and policies for tracking, reconciling and reporting on accounting activities.

• Developed forecasting tools to analyze revenue variance, business pipeline and industry trends.
• Created profitability models for revenue, costs and analyzing the profitability by the different subsidiary, products, channels, partners, and type of business/client (Monthly or Term).
• Created claims analysis models to pick up trends in the data and advise management of what authorized and paid claims are for and recommending solutions on how we can better our claims ratio by product and by type of business.
• Ascertaining a minimum admin fee for the group's products.
• Working closely with the pricing department before new products are launched to estimate the expected revenues, costs and profitability if product is launched.
• Creating and maintaining cost and revenue budgets models for all subsidiaries and consolidating all budgets for the group.
• Creating costing models and analyzing the company’s total operational costs (Fixed vs. Variable) and reporting back to management.
• Creating and maintaining an overhead cost model by department, understanding the different cost drivers by department as well as calculating the fixed costs and allocating the costs accordingly.
• Compiling monthly Exco presentations with financial analysis for the entire group and detailing the products, channels, subsidiaries and type of business.
• Analyzing the management accounts from external parties (i.e Underwriters) for the Warranty products we administer.
• Educated clients on various financial matters and provided professional recommendations on investment opportunities, products and services based on each clients' individual needs.
• Collected data and developed detailed spreadsheets to identify trends and create revenue, profitability and expense forecasts.
• Led meetings with directors to analyze spending and provide financial recommendations.
• Reviewed statistical information to determine financial trends for use in investment planning.
• Evaluated competitor data and statistics to develop business investment strategy and drive growth.

• Co-ordinating business facing finance activities, including general accounting, performance management, reporting, forecasting and planning for the business.
• Providing assurance on the integrity of the business financial results (ensuring compliance with company policies, procedures and accounting standards)
• Providing financial and business advisory role to the business.
• Own and drive the Forecasting and Budget Planning processes for the business.
• Preparing management information, performance information, and economic analytics using actual results.

o Profit and loss statements by brand and channel

o Product profitability analysis

o KPI’s and key non-financial measures

• Prepare performance management and variance analysis report, ensuring accuracy of management information.
• Measuring and monitoring business drivers such as pricing, volume, margins and costs against plan/forecast to ensure optimization and achievement of company targets.
• Identifying cost-saving initiatives and advising business accordingly.
• Preparing and analyzing gross premiums written, claims expenses and operational expenses and performing SPV calculations by lines of business, and for different brands and channels;
• Interpreting and communicating financial data to non-financial managers;
• Liaising with other function managers to put the finances and accounts in context;
• Monitoring and evaluating financial information systems and suggesting improvements where needed;

• Preparing daily and monthly cash book entries
• Preparing monthly balance sheet reconciliations
• Preparing monthly management accounts
• Prepare and monitor weekly cash flows
• Prepare billing and debtors reconciliations
• Creating and sending invoices to advisory clients
• Analyze expense claims, make payments and capture on accounting system
• Preparation of provisional tax calculations for review and submission by financial manager
• Preparation of tax returns, with all necessary supporting schedules
• Performance of VAT returns and preparation of VAT Reconciliation
• Responding to all SARS requests for information (submitted VAT and tax returns)
• Preparation of monthly salary to EMP 201 returns
• Daily audit of VAT allocation postings
• Preparing operational budgets
• Preparing and maintaining cash flow budgets
• Preparing capital budget
• Preparing forecasts
• Preparing management pack for monthly management meeting
• Monthly review and posting of depreciation entries
• Monthly update of fixed asset register
• Monthly reconciliation of fixed asset register to GL
• Preparation of month-end financed asset journals
• Management of annual useful life / residual value review process
• Assistance with preparation of year-end audit schedules
• Assistance with requests from external auditors
• Preparation of year-end tax calculation
• Assistance with preparation of company annual financial statements
• Create / maintain company policies and procedures
• New company registrations:
• BEE Registration
• Tax registration (Income tax, VAT, Employees tax)
• Opening of bank accounts
• Register with DOL (UIF and Workman’s Compensation)
• Taking statutory minutes for Monthly Management Meetings and Board Meetings
• Filing Resolutions with company secretaries

• Managed entire accounting cycle including gathering information, preparing documents, finalizing reports and closing books
• Preparing daily bank journals for premiums, commissions and payments
• Preparing General Ledger and Bank reconciliations on a weekly basis
• Processing correction journals, provisions and accruals
• Prepare weekly flash reports on premiums and commissions
• Preparing Profit and Loss Analysis
• Balancing and confirming inter-group balances and transactions
• Preparing monthly reports for actuaries (Vitality Reports, Reassurance reports)
• Assisting the divisional manager on reporting accounting discrepancies
• Ensuring that timelines are strictly adhered to in all accounting functions
• Performing debtor’s reconciliations and assisting the Credit controllers in resolving queries on customer accounts and collections
• Performing daily billing reconciliation for premiums collected
• Authorizing daily files sent to Treasury for debit order collections and refunds
• Processing refunds and indemnity claims
• Assisting in the documenting key financial controls in the various business cycles
• Assist in the implementation, review, and monitoring of the operational and financial controls and processes
• Assist in the communication and enforcement of the controls
• Monitor and drive the compliance with the group’s authority levels across all business processes
• Assist in ensuring that key financial controls are adequately included in detailed procedures in use at operations
• Working closely with the internal and external auditors and co-ordinate various internal control related reports, ensuring proper follow up, action, and resolution

• Dealing with customer enquiries on claims: surrender claims, maturity claims, death claims, refund claims
• Supplying policy values to client and brokers;
• Advising client of the claiming procedure and fraud procedures;
• Policy changes;
• Premium admin tasks and policy status;
• Scanning and filling faxes, forwarding documents to relevant departments;
• Making outbound calls to clients and brokers for policy information requested;
• Receiving brokers’ note and Power of Attorneys from 3rd parties
• Sending tax certificates to clients via post, fax or email
• Reduced downtime to support quality control, boost revenue and complete projects on time and under budget.

• Provided primary customer support to internal and external customers in fast-paced environment.
• Maintained customer satisfaction with forward-thinking strategies focused on addressing customer needs and resolving concerns.
• Answering calls and giving information to business clients for the following service requests:
  Balance enquiries;
  Statement requests;
  Debit and Credit enquiries;
  Cheque and deposit slip requests;
  Applications for overdrafts;
  Checking business credit profiles;
  Giving pricing information regarding bank charges;
• Business internet banking;
• Telephone banking;
• Cellphone banking;
• Dealing with FNB Investments;
  Credit cards and Personal Loans;
• Confirm account details;
• Tax Certificates;
• Statement requests
• Debit order stop request;