Financial Manager

SUMMARY:
THE POSITION IS BASED IN WESTLAKE. One of the most exciting upcoming brands to work for is recruiting for a qualified Financial Manager that has the ability to implement systems and the working knowledge of the basic principles if Accounting. Experience with BOM is required as this is a FMCG entity. The company already has an international footprint and growing at a rapid speed.

POSITION INFO:
Education:

• CA(SA) or CIMA qualified

• 5 years’ experience within a Manufacturing or FMCG environment.
• Financial leadership to the organisation.
•  

• The Finance Manager will analyse every day financial activities and subsequently provide advice and guidance to management on future financial plans.
• The goal is to enable the company’s leaders to make sound business decisions and meet the company’s objectives.
• Management:
  • Maintain a documented system of accounting policies and procedures.
  • Manage outsourced functions and providers.
• General Responsibilities:
  • Overall accountability for Finance function and team.
  • Maintaining the financial health of the organisation.
  • Analyse costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
  • Develop trends and projections for the firm’s finances.
  • Set goals and objectives, and design a framework for these to be met.
  • External audit.
  • Correspond with various other departments, discussing company plans and agreeing on future paths to be taken.
  • Management of company trade finance funding.
  • Issue purchase orders in accordance with the company’s delegation of authority.
• Financial Record Keeping:
  • Ownership of all financial record keeping in both financial reporting packages (XERO) as well as stock management systems (DEAR & AS1).
  • Management of all manual journal entries (incl sign off from Group CFO).
  • Raw materials receipt & capture (incl. price variances).
  • Reconciling retail debtors payments.
  • Stock replenishment transport approvals.
  • Monthly stock balancing across owned and outsourced third party warehouses.
• Funds Management:
  • Weekly cash flow forecasts modelling both sales inflows, capital inflows, trade finance exposures and payables.
  • Fortnightly reporting to trade finance partner of stock and debtors book details and management of cashflow requirements relative to facility.
  • Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
  • Explore the use of hedging to mitigate financial risks related to foreign exchange positions as well as on the interest rates on the company''s borrowings (if applicable).
  • Maintain banking relationships.
  • Assist in determining the company''s proper capital structure.
  • Arrange for equity and debt financing.
  • Daily sweeping and investment of surplus funds.
• Budgeting and Forecasting:
  • Manage the preparation of the company''s annual budget and 3-yr plan from timetable planning through preparation to reporting.
  • Assist management in the formulation of its overall strategic direction.
• Monthly Financial Reporting:
  • Ownership of monthly reporting calendar.
  • Responsible for month-end, interim-end and year-end close for assigned functional areas.
  • Delivery of monthly financial reporting pack to management including commentary obtained from various functions.
  • Variance analysis of key financial ratios with narrative of key variances from both budget and prior year.
  • Gross Margin Analysis.
  • Monthly analysis of cost of goods sold and operational expenses against prior year and budget, providing explanations and business solutions to help mitigate the risks.
  • Interpret the company''s financial results and recommend improvement opportunities.
  • Submission of management reporting packs to relevant stakeholders.
  • Monthly detailed volume reporting (sell in volumes) and support of sales function for “sell out” dashboard reporting.
• Pricing management:
  • Maintain company value chains across all SKU’s, channels and customer groups.
  • Assist in the determination of product pricing in relation to features offered and competitor pricing.
  • Assist in evaluation of deal pricing (sell in deals, promotional deals, SALLYs etc).
  • Loading of deals onto customer portals (e.g. PnP SALLYs).
• Receivables management:
  • Maintain relationship with external credit guarantee company
  • Oversee the extension of credit to customers
  • Weekly tracking and reporting of debtors aging, including credit limits, highlighting risks
  • Ongoing debt collection management.
• Cost accounting:
  • Detailed price and usage variance analysis on all raw material purchases and third party production runs.
  • Ownership of detailed BOM’s and standard costs.
  • Engage in benchmarking studies to establish areas of potential operational improvement.
  • Ongoing cost reduction analyses across all areas of the company, including value engineering on existing and future packs/products.
• Tax:
  • Review and manage all aspects relating to SARS including correspondence and submissions on e-filing as well as payments.
  • Processing and submission of VAT returns.
  • Monitor and chase refunds as required.
  • Ensure compliance with all staff and payroll related tax payments.
  • Annual tax computations.
• Other responsibilities:
  • Maintain a safe and clean work environment.
  • Understand and follow company rules and regulations.
  • Perform all other duties as assigned and required.
  • Assist with ad hoc business projects.
  • Monthly review of payroll and processing of journals in the general ledger.
  • Liaise with HR with regards to outsourced payroll and other HR related matters.
  • Partner with Operations and Marketing Team in determining financial impact due to product cost reductions, new product roll out, etc. and prepare periodic forecasts to update management on projected results.
  • Identify, investigate, and analyse potential operational improvement. As appropriate, based on findings make proposal for operational changes (policy, procedures, processes, etc.).

• Review and maintain sufficient insurance cover across all key aspects of the business – including maintaining relationship with key insurance brokers.
• Create additional analyses and reports as requested by management.
• Support business with laptop/tablet/printer set up and minor IT profile maintenance issues.
• Overall fixed asset management/recording.
• Ownership of BBBEE status reporting.
• CIPC reporting and compliance.
• Staff performance management and development.

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