Finance Manager

SUMMARY:
To manage the financial and administrative functions for the business unit in line with divisional objective. Provide financial, controlling and compliance leadership

POSITION INFO:

• Bachelor or Master’s degree in Finance or Business Administration
• Minimum 10-15 years of financial work experience in industrial area, preferably automotive industry.

Additional:

• Chartered Accountant
• Chartered institute of management Accountants (CIMA)
• Minimum 5 years of leadership skills experience

Responsibilities:

Financial Management:

Prepare the financial statements to the management, the Board of Directors, shareholders and regulatory agencies
• Ownership for developing the budget, forecast, rolling forecast, and estimates
• Provide analysis of results and reporting key metrics while advising the management on risks and opportunities, as well as recommending actions
• Provide financial analysis and insights in support of business decision making needs
• Provide authoritative counsel on proper accounting principles, procedures, systems, and controlling practices making recommendations for improvements
• Formulate and assure effective implementation of organization-wide policies, procedures and standards
• Coordinate internal and external financial audits and ensure compliance in accordance with legal, tax, accounting and regulatory standards, and internal control system
• Ensure appropriate financing
• Knowledge of IFRS
• Mentor and develop the financial and accounting teams South Africa providing training, education and opportunity for career development
• Provide input into the budget process
• Monitor performance against budget (expense controls, variances, etc.)
• Initiate requests for CAPEX/Disposal/Transfers
Participate in the Audit process
• Adhere to Financial Policies and Procedures
• Protect company assets (working capital & fixed assets)
• Detect and prevent fraud
• Promote good Corporate Governance

Process:

Financial Strategy:
• Participate in organisational strategy management from a financial management perspective
General Financial Management:

Provide Financial analysis and support to management and all operational areas of the business
Internal Control:
• Compile and update the Risk Register
• Manage and comply with Internal Controls
Fiduciary Duties:
• Perform Statutory and Public Officer and Company Secretarial duties for Legal entities
Budgets/Forecasts:
Budgets:
• Prepare Operational budgets
Forecasts:
• Review all forecasts
Financial Reporting:
Financial Pack:
• Review the Monthly Business Unit Financial Pack and identify variances
• Prepare financial reports and returns (Monthly BU/Plant Financial Pack)

Flash Results:
• Review the Automotive Division Flash Results and action variances
• Compile the BU/ Plant Flash Results and analyse variances
CAPEX:
• Analyse the Divisional Capex Reports and review the BU/Plant Capex Reports
• Perform Project Appraisals and Valuations
• Review CAPEX spend
Weekly Sales Report:
• Review Weekly Sales Reports
General Ledger:
• Review Balance Sheet Account reconciliations
• Review and authorise Journal entries
Audits and Year-End Processes:
• Prepare and plan Year-end Statutory Audit (external and internal) in line with the consolidated Audit plan
• Prepare and review year-end reporting Accounting and Tax Packs
• Draft financial statements (Income Statements and Balance Sheets) for Legal entities
• Follow up and action Audit findings
• Prepare and update Corp Tax schedules

Banking:
• Manage Banking Systems (users, passwords, profiles, etc.)
• Approve all new creditors (local and foreign)
• Release weekly bank transfers (creditors and wages)
Cash Management:
• Source financing to meet budgeted cash-flow requirements
• Monitor daily cash positions and cash flows to ensure settlement and maximise performance
• Manage cash flow and working capital
Forex:
• Manage Forex risk
• Manage the purchase Foreign Exchange Contracts (FEC''s)
• Review Forex Forecasts

Authorise foreign payments
Costing:
• Make recommendations for the financial recovery on distressed parts
• Calculate and propose price increases (per Customer for Sales Dept.)
• Review DA 190 (Declaration of Imported Components and Raw Materials)
• Review royalty calculations
Fixed Assets:
• Reassess useful life and residual value of Fixed Assets
Statutory Returns:
• Ensure compliance with the general tax provisions
• Review Statutory Returns (VAT, PAYE, SDL, UIF, WCA)
• Prepare Provisional/Income Tax returns
• Prepare and submit Government Incentive Applications

Stock Control:
• Manage stock holdings
Insurance:
• Prepare and submit Insurance Declarations
• File claims for losses
Creditors:
• Review and authorise Creditors payments
Debtors:
Credit Vetting:
• Calculate the repayment ability and assess the credit risk of potential clients
Debtors Management:
• Manage Credit Risk (insure Debtors Book, etc.)
Tooling:
• Review tooling account

Continuous Improvement:
• Identify improvement opportunities and make recommendations for improvements
General:
• Participate and provide relevant information for Board Meetings and Divisional Monthly or
• Bi-Monthly Meetings
Comply with IFRS
Reporting:
• Analyse and interpret Finance Reports and statistical data
• Prepare financial reports and returns
• Generate information and reports for internal and external use

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