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CENTRAL ENERGY FUND (CEF)
INTERNAL AND EXTERNAL VACANCY
SENIOR FINANCIAL ACCOUNTANT
CEF SOC
CENTRE: CEF HEAD OFFICE, SANDTON
CEF is a Schedule 2 state owned diversified energy company reporting to the Department of Mineral & Petroleum Resources. The Mandate of CEF is to contribute to the security of energy supply of South Africa and the Region through exploration, acquisition, development, marketing and strategic partnership. It is derived from the CEF Act (No 38 of 1977) and the Ministerial directives issued thereafter.
JOB PURPOSE:
To provide professional oversight and assurance over the financial accounting, statutory reporting and financial control activities of assigned entities within the CEF Group. The role is accountable for ensuring that financial information is complete, accurate, supported and submitted within prescribed timelines; that approved Group accounting policies and technical accounting conclusions are correctly implemented; and that material financial control, compliance and audit matters are identified and resolved. The role coordinates the end-to-end financial reporting requirements of assigned entities and provides professional review and guidance to accounting personnel and operational stakeholders.
REQUIRED MINIMUM QUALIFICATIONS AND EXPERIENCE:
- Matric and Honours degree (NQF 8) in Accounting/Finance or equivalent qualification.
- 5 years’ post article experience in a similar role.
- CA(SA) professional qualification is required.
- Master’s degree (NQF 9) in Accounting/Finance or equivalent qualification will serve as an added advantage.
DESIRED ADDITIONAL SKILLS/ COMPETENCIES:
- Strong technical knowledge of accounting standards (IFRS/GAAP)
- Knowledge of the PFMA and operational finance, cash flow management and transaction processing.
- Financial statement preparation, review and disclosure requirements.
- Group reporting, consolidations and intercompany accounting.
- Accounting for complex and non-routine transactions.
- Development of accounting position papers and technical opinions.
- Internal financial controls and financial reporting risk.
- Companies Act, PFMA, Treasury Regulations and applicable governance requirements.
- South African tax legislation, including corporate income tax and VAT.
- External audit, internal audit and regulatory assurance processes.
- Financial management systems and consolidation or reporting tools.
- Understanding of the energy sector and state-owned company environment, where relevant.
KEY PERFORMANCE INDICATORS:
Financial accounting and reporting
- Coordinate and professionally review the month-end, quarter-end and year-end financial close processes for assigned entities.
- Review trial balances, material journals, reconciliations, estimates, accruals and supporting schedules.
- Prepare or review statutory annual financial statements and Group reporting packs.
- Ensure that reporting submissions are complete, accurate and aligned with approved Group accounting policies.
- Analyse financial results and explain material movements, anomalies and emerging risks.
- Certify the readiness and integrity of assigned entity financial information before submission to the Group Financial Manager.
- Coordinate intercompany confirmations and resolve differences affecting assigned entities.
Implementation of IFRS and Group Accounting Policies
- Apply approved Group accounting policies and technical accounting conclusions within assigned entities.
- Identify transactions that may require specialist IFRS interpretation and escalate them to the IFRS Specialist.
- Compile relevant contracts, financial information and transaction details required for technical assessment.
- Assess the operational and reporting implications of technical accounting conclusions.
- Implement approved accounting treatments, disclosure requirements and control changes.
- Monitor compliance with new operational or amended reporting requirements within assigned entities.
- Maintain evidence demonstrating the appropriate implementation of technical conclusions.
Operational finance and business support
- Oversee the financial control aspects of accounts payable, accounts receivable, banking and cash-management processes.
- Review material, aged or unusual balances and ensure timely resolution.
- Monitor working-capital performance and identify risks affecting cash flow.
- Resolve escalated accounting and financial processing exceptions.
- Ensure that procurement, payment and revenue processes comply with approved financial controls and delegations.
- Advise operational teams on the correct application of established financial processes.
General Ledger and Financial controls
- Maintain the integrity of the general ledger by reviewing journal entries and reconciliations for assigned entities.
- Ensure timely and accurate processing of transactions, accruals, and adjustments.
- Implement and uphold strong financial controls to mitigate risks and ensure compliance
- Evaluate the design and effectiveness of financial controls across assigned entities.
- Review high-risk reconciliations, material journal entries, estimates and unusual transactions.
- Identify systemic control weaknesses and recommend corrective or preventative measures.
- Monitor the implementation of agreed financial control improvements.
- Provide assurance to the Group Financial Manager regarding the reliability of financial information.
Taxation and compliance
- Provide professional oversight of statutory and tax compliance for assigned entities.
- Review material tax calculations, returns and accounting treatments.
- Assess the financial reporting consequences of changes in tax and regulatory requirements.
- Engage specialist tax advisers or regulatory authorities when complex interpretation is required.
- Ensure that compliance risks and potential exposures are reported to management.
Audit and Risk management
- Serve as the senior financial accounting liaison for internal and external audits relating to assigned entities.
- Evaluate audit findings, coordinate technically appropriate responses and oversee corrective actions.
- Resolve complex audit queries and ensure that accounting conclusions are adequately supported.
- Identify emerging financial reporting and compliance risks and escalate material matters appropriately.
- Track the closure of financial reporting and control findings.
Team management
- Supervise assistant accountants by providing daily priorities and monitoring execution according to priorities and timelines
- Provide technical guidance on established accounting policies, processes and controls.
- Coach finance employees on financial reporting, reconciliations, controls and audit readiness.
- Conduct quality reviews and provide corrective guidance.
- Contribute to standardised templates, procedures and reporting practices across entities.
Closing Date: 09 August 2026
NOTE: The successful candidate/s for the advertised position/s will be required to undergo personnel suitability checks, which includes, criminal records, citizenship, financial checks, qualifications and previous employment (Reference checks). It is the responsibility of the applicant to make sure that foreign qualifications are evaluated by the South African Qualifications Authority and the evaluation certificate is attached to the application on submission. If you do not hear from the CEF SOC three months after the closing date of the advertisement, consider your application unsuccessful. CEF SOC reserves the right not to fill this position. CEF SOC is an equal employment opportunity and affirmative action employer, and it is committed to the achievement and maintenance of diversity and equity in employment, especially in respect of race, gender and disability. This position will be filled in accordance with the CEF SOC Employment Equity Plan. "
Department: Financial Reporting
Contract Type: Permanent
