Financial Director

SUMMARY:
The Financial Director will manage the finance team, develop financial policies, and provide insights to support decision-making at the executive level

POSITION INFO:

Key Performance Areas

FINANCIAL STRATEGY

• Develop and implement financial strategies aligned with the company’s goals.
• Provide strategic recommendations to the MD and executive management team
• Conduct financial analysis and modelling to support decision-making on investments, capital projects, and business expansion opportunities

BUDGETING AND FORECASTING

• Prepare and manage annual budgets and forecasts.
• Monitor financial performance against budgets and provide variance analysis.

FINANCIAL REPORTING

• Oversee the preparation of timely and accurate financial reports, including profit and loss statements, balance sheets, and cash flow statements.
• Ensure compliance with financial regulations and standards
• Prepare comprehensive financial reports and presentations for the board of directors, providing insights into key financial metrics, trends, and risks.
• Serve as a primary liaison between the finance function and the board, addressing inquiries, providing guidance, and facilitating discussions on financial matters.

CASH MANAGEMENT

• Monitor cash flow and manage working capital to ensure the organization’s financial stability.
• Optimize the organization’s liquidity position

RISK MANAGEMENT

• Identify and manage financial risks, including credit, market, and operational risks.
• Develop risk mitigation strategies
• Ensure compliance with Group risk and compliance policies

RISK MANAGEMENT

• Identify and manage financial risks, including credit, market, and operational risks.
• Develop risk mitigation strategies
• Ensure compliance with Group risk and compliance policies

HR & PAYROLL

• Provide oversight and approve HR-related budgets
• Align workforce planning with BBBEE (Broad-Based Black Economic Empowerment) strategies, ensuring diversity and equity goals are met while managing costs.
• Ensure adherence to statutory laws, tax regulations, and employment standards to mitigate legal and financial risks.
• Collaborate with HR to ensure proper record-keeping for internal and external audits.
• Ensure payroll processing complies with South African Revenue Service (SARS) and other Statutory requirements
• Ensure accurate monthly, bi-annual, and annual submissions to SARS, including IRP5 reconciliations.
• Ensure accurate internal monthly reconciliations
• Ensure that payroll controls are in place to mitigate risks.

INFORMATION TECHNOLOGY

• Drive digital transformation across IT to enhance operational efficiencies
• Oversee the use of IT systems (e.g., HRIS or payroll software) that are compliant with POPIA (Protection of Personal Information Act) for safeguarding employee data.
• Ensure secure integration of payroll and HR systems to mitigate cybersecurity risks.
• Monitor IT policies to ensure compliance with POPIA, particularly for storing and processing employee and payroll data.
• Oversee and approve IT Budget
• Ensure robust IT systems for HR and Payroll, including backup and recovery plans, to avoid data loss and service disruptions.

TEAM LEADERSHIP

• Lead and mentor the finance team, fostering a culture of performance and continuous improvement.
• Oversee recruitment, training, and development of finance staff
• Communicate performance expectations and provide subordinates with ongoing feedback.
• Provide direct reports with coaching and counseling, as needed, to achieve performance objectives.

STAKEHOLDER ENGAGEMENT

• Collaborate with other departments to provide financial insights and support.
• Communicate financial performance and strategy to stakeholders, including the board of directors and investors
• Collaborate with the executive leadership team to develop long-term financial plans and strategic initiatives aligned with organisational goals

COMPLIANCE AND GOVERNANCE

• Ensure compliance with statutory laws and financial regulations.
• Oversee internal audits and implement corrective actions as needed.

STOCK MANAGEMENT

• Manage and control of stock in all warehouses and oversee stock takes. Management of all purchase orders both locally and foreign.
• Insure WIP/Job Card registers for service departments is well controlled and managed

Qualifications and Experience

• CA (SA)
• Minimum 5 years post articles experience in finance and operations management
• Strong understanding of financial reporting, budgeting, and analysis.
• Proven experience in strategic planning and execution.
• - Proven track record in implementing and improving operational and financial controls.
• Excellent leadership, communication, and interpersonal skills.

Skills Required

• Proficienct in financial software and ERP systems
• Proficient in IFRS and tax

Working knowledge of FICA