Financial Manager

SUMMARY:
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POSITION INFO:

PURPOSE OF JOB
To ensure sound financial control of the organisation by directing and coordinating all the financial activities of the business. Manages the Accounts Department, Human Resources Department and Warehousing/Shipping Department.

KEY RESPONSIBILITIES include the following. Other duties may be assigned.

Financial Process Management

Generate management accounts for ALL Departments and Consolidate, email to relevant parties. Ensures that management accounts are produced on a monthly basis, by day + 5.

• Evaluates financial reporting systems, accounting and collection procedures, and makes recommendations for changes to procedures, operating systems, budgets, and other financial control functions
• Assists the Managing Director in the compilation of the company’s overall budget in accordance with business and sales strategies annually.
•  Interfaces with external auditors at year-end and ensures that audit is completed and outstanding issues cleared.
•  Act as signatory on bank account.
•  Do the final authorization and 2nd release of payments on Standard Bank.
•  Does the overall management and control of the national debtors book.
•  Reviews collection reports to determine the status of collections and the amounts of outstanding balances.
•  Authorises the processing of debtors adjustments as requested by branches.
•  Liaises with financial institutions with regards to investments, exchange rates, and forward cover.
•  Must approve foreign currency, with MD.
• Liaises with clearing agents to ensure competitive rates.
• Monitors warehouse, Label Division and Branch stock take procedures.
•  Manages the Payroll and ensures compliance with legal and company regulations.
•  Manages and monitors the performance of the Pension Fund, Company Insurance and Medical Aid Scheme.
•  Manages the monthly Sales Metrics Reports, prepared with Microsoft Power BI.
•  Manages the Inventory Days Reports for all warehouses and sends them to relevant parties.
•  Generates the Financial Dashboards on a monthly basis and distributes them by day six.
•  Acts as Company Secretary and Public Officer.
  Reporting and Compliance
•  Ensures the preparation of financial and regulatory reports and compiles statutory and annual statements in compliance with the Companies Act and International Financial Reporting Standards (IFRS) for SMEs. (This will be advantageous skill and may not be required)
•  Ensures that the company complies with the Income Tax and VAT Acts.
•  Ensures that the company complies with the “COIDA”.
•  Ensures that the company complies with the Employment Equity (EE) Act and assumes the duties of the EE manager.
•  Reports to management on a monthly basis regarding the finances and financial status of the company, which includes variances to the budget.
•  Ensures that each branch is audited by the Financial Department at least once a year.
  General Management
•  Liaises with external service providers on legal matters as and when required.
•  Manages the BBBEE initiative which includes the development of a BBBEE plan and scorecard, in conjunction with an external consultant.
•  Administers the incentive scheme for the sales executives, technicians and branch administrators.
  People Management
•  Ensures that staff is trained, skilled and that their expertise is optimally applied.
•  Ensures that the working environment contribute to improve staff morale and increase productivity.

SUPERVISORY RESPONSIBILITIES

•  Has overall responsibility for the Accounts Department, Human Resources Department and Warehousing/Shipping Department.
•  Has overall responsibility for a staff complement of ±25.
•  Implements performance measures and ensures achievement thereof.

QUALIFICATIONS, EXPERIENCE and KNOWLEDGE:

• To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.B Com degree, preferably CA.
•  5 Years’ experience in management accounting and general accounting.
•  5 Years’ experience in a Financial Manager position.