Vision Our vision is to be a consulting business known for enduring work in internal audit, actuarial, accounting and tax.

Transcription

1 Company Profile

2 CONTENTS 1 WHO WE ARE OUR SERVICES Audits Actuarial Services Data Analytics Accounting & Tax MANAGEMENT TEAM BUSINESS LOCATION CONTACT DETAILS ADMINISTRATION... 10

3 1 WHO WE ARE The Shard (Pty) Ltd is an Assurance and Actuarial Consulting firm based in Johannesburg. The Shard uses its expertise to deliver meaningful and lasting results to the organisations we serve. Vision Our vision is to be a consulting business known for enduring work in internal audit, actuarial, accounting and tax. We believe this can be achieved through understanding our client s business and their needs, coupled with effective communication and management to enable us to provide sound business advice tailored to meet the unique needs of their business. Values Integrity Discretion Professionalism Craftsmanship Above & Beyond 2 OUR SERVICES 2.1 Audits Assessment of the adequacy and effectives of the following process: Insurance Policyholders Liabilities Data Process Policyholders and Shareholders Asset Data Process Assumption Setting Process 1

4 Insurance Models Valuation Process Capital Requirement Process Implicit and explicit fees on unit linked funds Bonus Declaration Process: Discretionary Participation Products Reinsurance Process Underwriting Process Unit pricing process Analysis of Surplus Process Solvency Assessment & Management Process Own Risk & Solvency Assessment Process IFRS 17 Implementation Financial Markets and Technical Instrument Trade process (Buying and selling of assets) Risk monitoring and Measurement Analysis o Market risk (Process to identify, manage and report on the change in the market value, future cash flows or financial instruments backing obligations, Liability profiles, asset profiles) o Credit risk (from originations of debt, including - assessments and approval, Pricing, Collateral management, Collections & recoveries, Provisioning and bucketing of instruments) o Liquidity risk (Process to identify, manage and report an organisation s ability to meet short-term financial obligations) Acquisition process in corporate finance Balance sheet management Finance Finance Review 2

5 Accounting Policies & Procedures Reconciliations Subsidiary Ledger Reconciliations General Ledger Reconciliations Balance Sheet Reconciliations Bank Reconciliations Custody Reconciliations Intercompany Reconciliations Suspense Account Reconciliations Analysis of the budgeting and forecasting process IFRS 9 (Modelling of credit impairment and Provisioning) Share based payment process Asset Management Investment Mandate Compliance Front Office (Instrument Trade Process) Backoffice (Accounting, settlements, Confirmation and Cash and Units Reconciliations) Customer communication - Literature review (Fund fact sheets, Policy documents, website etc.) Management Information Implicit and Explicit Fees application Migration of investment back office to external providers Investment management Product lifecycle Investment performance Treasury Reserve and Investment Management Liquidity and Funds management Intraday Liquidity Liquid assets 3

6 Negotiable Certificate of Deposit Daily Settlement Asset Liability Management Transfer Pricing Derivatives Trading Capital Management Integrated Performance and Risk Management Measurement and Monitoring of all risk (Liquidity, Interest Rate and Capital) Stress Testing Process 2.2 Actuarial Services Pension Actuarial Retirement benefits services Annual interim actuarial valuations Section 14 transfer calculation and certification Actuarial certification (HB Schedule) Attendance by the Valuator to meetings Liquidator services Benefit design and structuring Ad-hoc actuarial analysis and actuarial calculations Surplus apportionment advice and calculations Asset Consulting services Investment Strategy design through detailed liability analysis Development of a comprehensive Investment Policy Statement Implementation management Recommendation of appropriate investment managers Ongoing management, monitoring and reporting Replacement Ratio analysis Fee checks 4

7 2.2.3 Ad-Hoc Services Company accounting disclosures for retirement funds Company accounting disclosures for post-retirement benefits Post-retirement medical aid valuations Compensation and loss of earnings calculations Facilitating annuity buyouts/buyins Cashflow matching solutions DB to DC conversions Acting as an expert witness Life and Short-Term Insurance Perform, Review or independent valuation of reserves required under IFRS and local regulatory requirements Valuations data Assumption setting Valuation of reserve Embedded value Project and Audit support Bonus declaration AOS process review Actuarial risk-management 2.3 Data Analytics Customer centricity Customer segmentation Prospect identification Campaign analysis Retention/lapse analysis Cross/up sell analysis Analyse behavioural data and patterns 5

8 Risk analysis Data migrations Data validations and Integrity Data consistency between systems Identify, adopt and share analytical best practices Modelling of risks Financial analysis Broker rewards models based on sales Embedded value analysis Asset liability matching analysis 2.4 Accounting & Tax Accounting Services Accounting Officer services Bookkeeping services Financial statements preparation Maintenance of fixed asset register Preparation of management accounts Assistance with budget preparation and analysis Preparation of audit files Stock counts Business Advisory Design and implementation of internal controls Risk reviews, evaluation and management Compliance reviews (MFMA, PFMA) Cost management and revenue enhancement 6

9 Due Diligence Project accounting and review. Billing management Review of contracts Business consultancy Company Secretarial Annual company returns Company registrations BEE Certificates and BEE ratings Maintenance of the company secretarial requirements for companies Administering of the company s minute books and share registers Administering appointments and resignation of directors, special resolutions and voluntary liquidations of companies. Taxation Income tax return submissions VAT return submissions Dividends tax Individual tax returns Provisional tax Lodging appeals with SARS Tax clearance certificates Facilitating representation in tax court cases Tax planning Other Services 7

10 Audit and review engagements Forensic Audit Information technology services Payroll services Financial Planning servicesp Employee benefits and pensions audit 3 MANAGEMENT TEAM Smangaliso Mkhabela FASSA - Chief Executive o B.Sc. (Hons) Actuarial Science - University of Pretoria Smangaliso has a wide range of experience in employee benefits, Insurance, Internal Audit and building models for data analytics and performance management. Insurance experience - Ten years Data analytics Two years Insurance internal audit experience Three years 8

11 Makhosazana Khosi Bambisa CA (SA), MBA Chief Operating Officer and Finance Director o BAcc. - University of Witwatersrand o MBA University of Cape Town (GSB) Khosi Bambisa is a certified Chartered Accountant and a Registered Auditor. Financial services including insurance Four years External Audit Three years Mr. Rofhiwa Rasivhetshele, CA(SA) Managing Director o BCom (Hons) Accounting Science - University of South Africa Financial sector experience - Ten years Banking Internal audit experience - Two years 9

12 4 BUSINESS LOCATION Physical and Postal Address: 4th Floor, The Firs Cradock Avenue Rosebank Johannesburg CONTACT DETAILS Smangaliso Mkhabela Cell: +27(0) Tell: +27(0) smangaliso.mkhabela@theshard.co.za Website: Makhosazana Bambisa Cell: +27(0) Tell: +27(0) khosi.bambisa@theshard.co.za Website: 6 ADMINISTRATION BEE Status : Level One (1) Contributor 135% B-BBEE procurement recognition Company Registration number : 2013/161809/07 Tax reference number : VAT number :