Financial Manager

Our client based in Johannesburg has a Financial Manager position available in their organization.

Education and Experience Required:

• Degree / Diploma in Financial Accounting.
• 8 – 10 years’ experience in finance, accounting and administration.
• Experience in ERP systems, SAP Business One preferred.
• Industry knowledge.

Competencies Required:

• A strong understanding of, and experience in:
  • Accounting and financial management standards, concepts and principles
  • The South African regulatory framework (taxation, company law, B-BBEE, etc.).
• Advanced skill with ERP systems (in particular SAP Business One) and QlikView.
• Advanced skill in Windows 10 and MS Office 365 (in particular Excel, OneDrive, Word, Outlook and Teams).
• Business and commercial acumen - efficiency and effectiveness of operations.
• Leadership skills - teamwork, collaboration, innovation & balancing company and group interests.
• Attention to detail, process orientated and deadline driven.
• Quality service and internal customer focused.
• Planning and Organizing.
• Critical/analytical thinking and problem solving.
• Confidentiality, ethical, honest and trustworthy.
• Time management.

Duties and Responsibilities:

Manage the Finance and Accounting Functions:

• Take overall control and supervision of the following accounting teams / functions:
  • Accounts Receivable / Debtors (Ensure effective credit control, timely debt collection and accurate debtors ageing).
  • Accounts Payable / Creditors - local and overseas. (Ensure complete and accurate creditors payments and reconciliations and optimization of discounts).
  • Cash Book (Ensure all receipts and payments are accurately processed, kept up to date and reconciled regularly).
  • General Ledger (Ensure all transaction processing is accurate, kept up to date and accounting records are reconciled regularly and on time).
• Ensure internal financial controls are appropriate and operating effectively to ensure company income and assets are appropriately safeguarded against loss by error and/or misappropriation.
• Develop and maintain “standard operating procedures”/ “procedures manuals” for all key functions and processes within Finance and Accounting.
• Maintain a monthly accounting reconciliation file - Review and approve all general ledger month end reconciliations (per the monthly trial balance and supporting sub-ledgers/reports) and ensure they are complete, accurate and current. Reconciling items are to be followed up and cleared on a monthly basis to ensure there are no long outstanding reconciling items.
• Balance and reconcile inter-company/group clearing accounts monthly (formally confirm balances monthly with the other parties).
• Prepare/review/process month end adjustments – inter-company/group charges, stock depreciation, stock adjustments, stock reserve reversal, depreciation, leave provision, etc.
• Control, review and approve all journal entries – ensuring adequate supporting documentation is attached and detailed narrations explain the context, nature and details of the adjustment/preparer and approver.
• Oversee and manage/control the Banking system (including Counter Sales and CODs) – ensure all banking is done regularly (ideally daily) and intact.
• Prepare the monthly salary journal and reconcile it with the salary clearing account. Ensure the salary account is cleared on a monthly basis – with no long outstanding reconciling items. Ensure special Payroll deductions are appropriately controlled, e.g. AOD’s, garnishees, etc.
• Manage and monitor the daily cash flow requirements for the company, appropriately planning and analyzing future income and outflows.
• Ensure the computation of taxes (e.g. VAT) are complete, accurate and paid on time and ensure full compliance with legislation – liaison tax authorities
• Maintain complete filing and archiving systems/records for all finance and accounting related information / documentation and ensure compliance with statutory regulations/legislation.
• Ensure the finance department communication (internal and reporting to GM’s) and workflow systems are efficient, effective and adhered to.

Financial Management and Reporting:

• Prepare/review a standard detailed monthly Cash Flow Schedule, including a minimum of 6-month forecast, based on known/planned expenses, purchases and commitments, and all income from debtors, counter-sales/CODs, investments, etc.
• Prepare/review a standard monthly Debtors Summary containing an analysis of types of debtors, debtors’ balance profile, age analysis, debtors’ days, etc.
• Prepare/review a standard monthly Management Accounts containing comparative financial results, variance analysis and KPI/ratio analysis.
• Liaise with and support the auditors to ensure a smooth annual audit process and outcome. Prepare detailed audit files containing reconciliations, supporting documentation, etc. to facilitate the audit process. Assist the auditors with the preparation of the Annual Financial Statements.
• Discuss the above in detail with GM – provide financial analysis, insights, trends and advice.

Care and Grow the Finance and Accounting teams:

• Demonstrate care for the Finance and Accounting teams through a genuine interest in their individual lives, work and career development.
• Grow and develop the Finance and Accounting teams through identifying possible areas for development / training and provide them with the necessary support and guidance to improve both technically and practically.
• Hold the Finance and Accounting teams appropriately accountable through monitoring their performance and recognizing, rewarding, censuring and disciplining where appropriate. 

Assist with Operational Issues/Initiatives:

• Advise the company General Manager and Branch Managers on operational matters that relate directly to the Finance and Accounting function; and ensure it is correctly accounted for in the accounts.
• Support the company General Manager and Branch Managers with ad hoc operational and administrative initiatives.
• Monitor, manage and develop systems and processes, (specifically the ERP and cash systems) continuously through identifying opportunities for improving efficiencies and controls; and initiating the improvements; and working with the General Managers and Branch Managers to realize the improvements.

Involvement and Support of Group Financial Initiatives:

• Active participation at, and support of, regular (monthly) Group FM meetings – and delivery of agreed actions and meeting of agreed deadlines.
• Active involvement in, and support of, group-wide finance, accounting and administration initiatives.
• Demonstrate leadership and value to the broader Group by, in addition to delivering on own areas of direct authority and responsibility, being actively involved in areas where personal influence and experience can enhance Group teamwork, collaboration, innovation, efficiency and effectiveness of operations, profitability, etc. Examples include, but are not limited to:
  - Training, development and support.
  - Mentoring and guidance.
  - Developing group policies and procedures.
  - Peer reviews and benchmarking.

If you are not contacted within two weeks of applying, please consider your application unsuccessful.