Finance Administrator

Discovery – Insure

Finance Administrator - Commissions

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Insure

Discovery Insure is committed to creating a nation of great drivers through our innovative Shared-value Insurance model. Discovery Insure is South Africa’s fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home insurance sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.

Key Purpose

To accurately process, reconcile, report, and support the end to end commissions lifecycle across SmartComm, Source Finance, and related systems, ensuring timely and accurate commission payments, robust monthly reporting, audit support, and effective resolution of commission queries through strong system engagement and controls. This role exists to protect commission accuracy, support month end and audit processes, and ensure operational stability through proactive monitoring, reconciliation, and system issue resolution.

Areas of responsibility may include but are not limited to:

Commission Processing & Accuracy

Manage daily commission processing across SmartComm and Source Finance to ensure commissions are calculated, transferred and settled correctly, so that brokers and internal stakeholders are paid accurately and on time.

Reconciliations & Data Integrity

Perform daily, monthly and periodic reconciliations between policy systems, commission systems and payment files to ensure completeness and accuracy of commission data for financial reporting and audit purpose

Commission Reporting & Information Delivery

Prepare, validate and distribute commission‑related reports to internal teams and external partners to support monitoring of commission flows and management reporting.

Month‑End, Year‑End & Audit Support

Support month‑end, year‑end and audit processes by preparing schedules, calculations and audit evidence, and investigating anomalies identified during review.

Query Resolution & Stakeholder Support

Investigate and resolve commission‑related queries from brokers, distribution, servicing and internal teams within agreed SLAs, ensuring confidence in commission outcomes.

Systems Engagement & Issue Resolution

Log, manage and track commission‑related system incidents, data issues and enhancement requests through JSM, Jira etc to ensure defects are resolved and root causes addressed.

Testing & Go‑Live Validation

Execute functional and end‑to‑end testing for new commission benefits, rule changes and system enhancements to ensure accuracy prior to implementation.

Continuous Improvement & Projects

Contribute operational input, data validation and monitoring to commission‑related projects and improvements to support automation, scalability and control.

Knowledge and Skills:

• Excellent time management and organizational skills
• Problem Solving skills
• Attention to detail and high level of accuracy
• Excellent Communication skills
• Coping with Pressure and Setbacks
• Ability to multitask and prioritize
• Strong knowledge of commission and finance process and systems
• Excel proficiency (intermediate)
• End‑to‑end commission lifecycle within an insurance or financial services environment
• Commission calculation methodologies, including binder fees & broker fees
• Reconciliation principles and control frameworks
• Audit requirements and supporting documentation standards

Education and Experience

Education:

• Matric (Essential)   
• Relevant Degree/Diploma in Finance or Accounting - (advantageous)

Minimum Experience:             

• 2 years experience working in a financial institution (essential)
• 1 year short term insurance experience (advantageous)
• 2-3 years financial administration experience (essential)
• 1 year commission experience (essential)

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.