Cost Accountant

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

This role will be primarily responsible to provide specialised Business Planning and Costing administration services for the Old Mutual Insure Finance team in order to ensure effective, efficient and accurate Business Planning and Costing operations.

Responsibilities will include the following:

• Define cost objects in consultation with executive or relevant parties

• Create or update template for cost allocation to cost objects

• Assist with the preparation of costing instructions and a procedure document

• Update costing model as and when required, and ensure 

• appropriate review and sign off by cost object owners

• Review costing results and follow up on exceptions and concerns within the costing system

• Workshop with executive to review concerns raised by cost object owners and agree on refinements

• Distribute results to stakeholders

• Prepare relevant forms and reports for budget cycle

• Provide support on SASFM for all users

• Administer and update SASFM for all data dimension changes

• Assist users with budget queries

• Perform detailed analysis of budget data to ensure complete and accurate

• Advise relevant parties where problems are identified

• Ensure that confirmation memo are sent out to all branch & head office manager for their signature 

• Ensure that budget data is interfaced into Oracle and balanced by deadline date

• Prepare expense forecasts on a monthly basis for discussion at Exco

• Load monthly forecasts into HFM by deadline date.

• Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards

• Resolve escalated customer queries and complaints and provide feedback to customers on matters resolved

• Develop work routines in line with operational plans / schedules in order to manage achievement of service delivery goals

• Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery

• Align own behaviour with the organisation culture and values

• Share and transfer product, process and systems knowledge to colleagues

• Collaborate and work with the Business Planning & Analysis team to ensure required service levels are delivered

• Actively participate in the Business Planning & Analysis team to ensure functional balanced scorecard objectives are achieved

• Ensure achievement of own performance objectives

• Actively share information with other team members regarding successes, issues, trends and ideas

• Actively participate in own professional development and career path

• Track and resolve operational and performance variations

• Develop and encourage strong team work

• Identify potential inter-departmental problems and escalate them to higher levels

• Engage regularly in team or group problem-solving

• Manage areas of critical compliance and actively manage nonconformance

• Actively manage non-performance

• Ensure the work environment enables employees to “live” the organisation culture and values

• Ensure adherence to financial and corporate policies and procedures, and reduce wastage related to area of accountability

• Take accountability for the management of business related risks within own area

• Operate within agreed mandates as documented in the business rules

• Ensure adherence to organisational policies, practices and procedures

• Identify and recommend areas / ways to improve processes

• Proactively ensure use of time, of resources, money, materials or equipment is in line with policies and procedures

• Comply with corporate governance policies, procedures and standards

• Operate within agreed mandates

• Align own behaviour with the organisation culture and values

• Collaborate and work with the HR Centre of Excellence (CoE) team to deliver required service levels

• Ensure achievement of own performance objectives.

• Actively share information with other team members regarding successes, issues, trends and ideas

Key experience, skills and knowledge required:

• BCom Accounting or similar

• At least 3-5 years in a cost accounting role

• Understanding of systems and how they translate into business partnering

The Recruitment Process:

• TA Interview: This will be a discussion with our Senior Talent Acquisition Specialist to give you an understanding of our business, our culture & values and more context on the role. It will also allow us the opportunity to get to know you more and ensure OMI can meet your career aspirations.

• Panel Interview: This will be with 2 members of the Senior Leadership of the Hiring Team and 1 member of the HC Leadership Team.

• Technical & Psychometric Assessments: These will depend on the role and will sometimes happen concurrently with Vetting through an external service provider & Internal Verification.

• Final Feedback.

All About OMI:

https://www.oldmutual.co.za/about/old-mutual-insure/

https://www.linkedin.com/posts/old-mutual-insure_i-work-at-old-mutual-insure-of-course-activity-7161674472469524483-w0j6?utm_source=share&utm_medium=member_desktop

Please note that, unfortunately, we cannot accept any applications after the closing date

Skills

Accounting, Budgeting, Budget Management, Business Planning, Business Requirements Analysis, Data Controls, Evaluating Information, Finance, Financial Accounting, Financial Acumen, Financial Analysis, Financial Auditing, Financial Modeling, Legal Practices, Managerial Accounting, Policies & Procedures, Report Review

Competencies

Business Insight

Collaborates

Ensures Accountability

Financial Acumen

Manages Complexity

Nimble Learning

Optimizes Work Processes

Resourcefulness

Education

Bachelor of Commerce (BCom): Accounting Finance (Required), NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

25 February 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

The Old Mutual Story!