Financial Manager


A well established Engineering comany is looking for a Financial Manger to join the team to oversee all financial aspects in order to maintain the financial health of the organization and provide EXCO with accurate and relevant information. The incumbent will be responsible for overall control of the Groups financial pillars: * Financial and Cost management Accounting, * Budgeting, * Reporting, * Cash Management, * Risk and Internal Controls, * Financial Analysis and Capital Planning, * Statutory Compliance, The Financial Manager is responsible for planning, directing and overseeing the operation and fiscal health of the Finance department. The incumbent is also responsible for overseeing and leading the outputs of the team under them. Financial Analysis: * Review and advise Managing Director on company financial ratios * Develop and maintain business financial ratio metrics * Analyse financial activities and monitor captured data. * Analyse financial forecasting and budgeting to engage in cost reduction analysis and review of operational performance Financial Accounting: * Full management of accounting departments and subordinates to ensure financial records are accurate and up to date * Develop and maintain documented record keeping and accounting systems, policies and procedures * Enhance the utilization of the ERP systems, software packages and accounting products across the business * Make recommendations and implement findings to improve efficiency in accounting functions * Forecast and manage cash flows * Arrange for financing and equity where / as appropriate to meet operational or expansion requirements * Preparation for and coordination of the interim and year-end external audits Cost Management * Analyse business operations, trends, costs, revenues, financial commitments and obligations to project future revenues and expenses and to provide advice to Managing Director & EXCO * Engage in ongoing cost reduction analysis in all aspects of the company * Develop and review cost benchmarks to establish areas of operational improvement Reporting and Management Reports * Prepare, analyse and distribute monthly financial reports, and other financial information and analysis necessary in order for management to make effective, timely and appropriate business decisions based on the performance of the business, the financial position of the business, and the forecast profitability of the group entities. * Drive change so as to implement effective cost management, and increase productivity across business units and product lines. * Enhance reporting structures, accounting processes and control procedures across the business to improve financial reporting, leading to effective business management and decision making. * Manage the statutory responsibilities around corporate taxes, improving governance and compliance thereof, ensuring all submissions are effectively submitted, structuring the business to take advance of all tax opportunities within the business, while obtaining annual tax clearance certificates. Risk Management * Ensure that the company financial systems are robust, compliant and support current activities and future growth * Management of company cash management policies * Ensure that regulatory requirements of all applicable statutory bodies are met * Manage company policies regarding capital requirements, debt, taxation, equity and acquisitions and disposals * Survey operations to ascertain non-compliance and to recommend, develop, and maintain solutions to business and financial problems * Ensure adequate insurance(s) cover where appropriate * Establish high level of credibility in the companys finance team Planning * Define financial requirements against mandated goals and objectives; how annual and longer-term goals and objectives can be met through the use of financial resources, and translate these into specific financial commitments. Budgeting * Forecast estimates for the predicted use of financial resources against the budgeted financial resources during a given fiscal year or period. * Allocate funds to specific accounts in the chart of accounts. * Monitor the actual use of financial resources against the approved budget and identify variances. * Adjust the approved budget under directives from appropriate management and/or in response to variances between planned and actual expenditures. * Report findings and action taken to the appropriate authorities. Management & Control * Comply with the legal and statutory framework of policies, business processes, procedures and standards pertaining to recording, classifying, monitoring, and reporting on use and disposition of financial resources. * Establish, maintain, and apply an institution-specific framework of policies, business processes, procedures and standards pertaining to recording, classifying, monitoring, and reporting on the use and disposition of financial resources. Performance Measurement * Produce financial reporting which is the recording and presentation of financial statements that show the organizations financial position, operating performance and cash flow over a period of time through the use of financial statements. * Create management reports on a regular basis that are relevant to decision-making processes, measuring performance against measures and targets (output and outcomes) established during finance management planning, against budget objectives, and/or against financial management performance standards used within the industry. * Evaluating and analysing findings, and exploring options for corrective action. Financial Management * Produce financial reports detailing actual expenditure against forecast to agreed timescales * Produce annual financial reports and statements to agreed time scales to comply with the requirements of the South African legal framework. * Develop annual budgets in collaboration with the Director of Finance and Operations and functional heads * Manage the payroll system and Provident Fund Scheme and ensure that payments are made to individuals, SARS, Provident Fund and Medical Aid Providers to set timetables. * Lead on tax planning, including VAT related matters. * Maintain current standing with all mandated local tax and benefits registrations and requirements, including submissions of payments and reports (SARS etc) * Ensure compliance with all statutory requirements relating to financial control, financial management and accounting * Ensure appropriate external audit arrangements are in place and manage the audit process * Ensure that all balance sheet reconciliations are produced on an accurate and timely basis to include bank reconciliations, debtors, creditors and inter-company account * Ensure implementation and adherence to finance policies, procedures and systems across all teams Oversee the management of assets, stock, inventory by ensuring all relevant reports and registered are current Coordinate the following financial management activities. * Prepare shareholder funds cash call along with cash status * Maintain and verify shareholder funds project inter loan accounts * General journal entries between companies and loans * Cash status and cashflow forecast report * Inter project billing and interest * Internal man hour billing * Loan accounts management * Time and cost reconciliation of projects accounts to ensure project profitability * Capture and check consumables Monthly closing of the books and preparation of management accounts by performing the following actions: * Reconciliation and monthly closure of ZAR and CFC bank accounts, petty cash and credit cards * Credit card and petty cash recovery from projects * Altcoin statement reconciliation * Section 24 warranty entry * Set new forex rates Recommend appropriate dividend assurances based on historical dividend patterns and expected cash flows. Advise management on the liquidity aspects of its short and long-range planning. Advise on investment activities and provide strategies that the company should take. Payroll management. * Full management of payroll department and subordinates to ensure payroll is accurate and up to date * Do recommendations and implement findings to improve efficiency in accounting functions * Ensure payroll compliance with tax and other statutory requirements, including submission of EMP or EMP as appropriate *Qualification:* B. Com degree Accounting/ Finance or similar *Experience:* * Accounting or finance management * Asset and inventory management * Accounts payable and receivable management * Budget preparation and reporting * Financial management, planning and forecasting * Financial audits and internal auditing * Payroll management *Job related Knowledge* * BCEA (Basic Conditions of Employment Act) * Financial statistics and accounting principles * Financial and business management * Financial security measures and control * Strategic and financial planning including activity costing and benchmarking * Generally accepted accounting theories, principles, practices, and terminology * Multi-currency accounting and Forex control * Statutory returns and compliance * Vendor contracts and agreements * Day-to-day operational areas that are critical in all business such as: - Working capital management - Margin improvement - Controls, systems and reporting *Skills:* * MS Office - Excel - Advanced * MS Office Word Intermediate * MS Office Power Point Intermediate * MS Office Outlook Intermediate * MS Teams * Accounting System (Syspro and Sage Pe
Posted
05/05/2022
Location
Johannesburg, GT, ZA