The succesful candidate will deal with both financial (financial reporting, debtors, creditors) and commercial (pricing, procurement, stock management) matters
- 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.
- 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
- 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.
- 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
- Statutory Compliance
- Meet statutory Deadlines & Requirements
- Management of VAT return
- 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.
- 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.
- 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.
- 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.
- Manage the annual insurance renewal process.
- Oversee all insurance claims.
- Qualified Chartered Accountant CA (SA)
- 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.
- Exceptional analytical ability
- Leadership skills
- Startegic thinker
- Critical thinking and problem solving skills
- Communication skills
- Forward thinking
- Proven experience in people management
- Conflict management
- Entrepreneurial nature
- Timeous and deadline driven
- The FM will be based in Durban and will be required to travel as and when necessary.
- Financial Director
- Auditors (Statutory and BEE)
- Customers and Suppliers