Commercial/Financial Manager
Durpro Workforce Solutions
Durban, KwaZulu-Natal
Permanent
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Posted 10 May 2019

Job Details

Job Description

The succesful candidate will deal with both financial (financial reporting, debtors, creditors) and commercial (pricing, procurement, stock management) matters

PURPOSE:
  • To adhere to Company Policy and comply with financial policies and procedures.
  • Ensure monthly reporting deadlines are met.
  • Responsible for financial reporting; forecasting; budgeting; cashflow management; facilitating annual audits and managing foreign exchange cover.
  • Working Capital Management.

RESPONSIBILITIES:

  • Development and review of internal controls through audits to ensure compliance to procedures.
  • Management accounting, branch consolidation, preparation, analysis and review, ensuring deadlines are adhered to.
  • Ensure compliance to statutory reporting.
  • Review of capital management.
  • BEE monitoring and optimisation.
  • Development of financial systems and formulating accounting system specifications.
  • Review company insurances, policies and costing thereof.

Legal and Governance Requirements

  • Company Policies and Procedures
  • Companies Act
  • Corporate Governance
  • International financial reporting standards

PRINCIPLE DELIVERIES

  1. Annual Planning Strategy
  • Co-ordinate the budgeting process across the business ensuring budgets are finalised within agreed deadlines.
  • Set finance budgets in line with business strategy annually, and revising as and when necessary.
  • Monitor performance against set budgets Divisions, Regions, Cost Centres, Rep and Client level and report findings to executive team.
  • Ensure the budget workbook is completed by the Accountant and that Regions/Cost Centre managers receive relevant instructions.
  • Ensure budget once authorised is loaded into General Ledger.
  1. Monthly Planning and Reporting
  • Management of cashflow based on budgets and actual expectations.
  • Cashflow statements, working capital optimisation and forecasts
  • Provider of a general ledger (from which management accounts are extracted by the Accountant) with data integrity.
  • The business processes feeding the General Ledger are understood and major variances are investigated and corrected (All factory operations and interfaces are to be investigated together with the accountant.)
  • Ensuring that detailed analyses for major variances in the monthly management pack are investigated.

Internal management reporting.

  • Oversee the month end process
  • Provide information to Management as required
  1. Statutory Compliance
  • Meet statutory Deadlines & Requirements
  • Management of VAT return

 

  1. Treasury Management
  • Manage the foreign exchange of the company in conjunction with the director.
  • Manage the foreign exchange exposure of the company, by interacting with the bank to cover forward where necessary.
  • Ensure online banking profiles and access are up to date.
  1. Facilitation of Annual Audit
  • Facilitates annual audit, ensuring that all information provided to the auditors is done ins such a way so as to avoid any duplication of effort.
  • Set audit timetable, planning to minimise the impact on the business, but to meet all legal and statutory deadlines.
  1. Business Process in Finance
  • Responsible for ensuring that business procedures for the Finance functions are fully defined, meet basic business practice and that the department conforms to agreed practices.
  • All Finance business procedures to be documented and issued to staff.
  • All documented issues to have agreed action plans with person allocated and date by which solution to be implemented.
  • Facilitating the generation of continual improvement processes within Finance Department.
  • Ensure quality standards are met with regard to the performance of work within Finance Department.
  • Perform random audits on business processes.
  • Ensure that the authorisation of expenditure and compliance with business policies is enforced.
  • Use the approval of purchase orders and the approval of payments to detect if staff are complying with the processes.
  • Initiate changes in business policies where it enhances cashflow management, supplier management, customer management, or stock management and amend where problems are identified.
  1. Working Capital
  • Oversee Credit Control function ensuring defined processes are carried.
  • Ensure customers pay within agreed terms and assist with resolution of queries.
  • Provisions of doubtful debts
  • Management of creditors reconciliations.
  • Negotiation of supplier credit terms.
  • Management of stock levels and procurement in relation to working capital.
  • Raw material and finished goods costings.
  • Stock provisions and management of slow moving and obsolete stock.
  1. Insurance
  • Manage the annual insurance renewal process.
  • Oversee all insurance claims.

COMPETENCIES REQUIRED

Qualification

  • Qualified Chartered Accountant CA (SA)

Experience

  • A minimum of 3 years experience in a similar role with a medium to large organisation with experience in business strategy; financial analysis and business processes reporting and documenting .
  • Exposure to Commercial, Manufacturing and Financial background.
  • Experience in managing the accounting function and delivering timely and accurate financial management information in a challenging and dynamic commercial environment.
  • Broad understanding of business process and controls relating to optimal working capital management.
  • Experience with project management methodologies.

Behaviours

  • Exceptional analytical ability
  • Leadership skills
  • Startegic thinker
  • Critical thinking and problem solving skills
  • Communication skills
  • Forward thinking
  • Proven experience in people management
  • Negotiation
  • Conflict management
  • Adaptability
  • Entrepreneurial nature 
  • Timeous and deadline driven

Working Conditions

  • The FM will be based in Durban and will be required to travel as and when necessary.

Career Path

  • Financial Director

Contact Relationships

  • Directors
  • Management
  • Banks
  • Auditors (Statutory and BEE)
  • Customers and Suppliers