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Finance Manager


Finance Manager

Patterson Grade: E1

Remuneration : R1, 275,326.11 (TCTC) (plus a possible 20% performance bonus)

The Mining Qualifications Authority (MQA) is a Sector Education and Training Authority (SETA) that facilitates skills development training in terms of the Skills Development Act 97 of 1998, under the Department of Higher Education and Training (DHET).

The MQA also supports mine health and safety for the mining and minerals sector in terms of the Mine Health and Safety Act 29 of 1996, under the Department of Mineral Resources and Energy (DMRE).

Role Purpose
The Finance Manager will be tasked with, amongst others, providing both strategic and tactical support on matters relating to budget management, cost benefit analysis, forecasting needs and financial reporting.

The successful candidate will report to the Chief Financial Officer (CFO).

Key Performance Areas
Financial management, budgeting, expenditure:  Prepare annual revenue estimates; forecast total mandatory grants and total administration expenditure; and determine funds to be allocated for discretionary funds having considered existing commitments.  Develop and implement budget templates  Prepare cost estimates.  Co-ordinate and prepare consolidated annual budgets and mid-year budget reviews.  Develop budget management procedures and systems for early detection, reporting and resolution of adverse projections to budget.
Accurate and timely financial administration and reporting:  Develop and maintain the MQA’s accounting system and reporting in line with the Skills Development Act (SDA) and grants regulations.  Review legislative amendments and align systems and procedures accordingly.  Review the preparation of discretionary grants budgets for compliance with grants regulations.  Monitor the utilisation of funds in line with the SDA and grants regulations.  Oversee the completion and submission of files, as well as the timely payment thereof.  Review payroll for the calculation of skills development levies.  Develop and implement procedures for the preparation of annual financial statements according to Generally Recognised Accounting Practice (GRAP) and the Public Finance Management Act (PFMA).  Submit quarterly reports and annual financial statements to National Treasury, including a motivation to retain any surpluses.  Create a centralised document management system for managing unit documentation, contracts, and reports.  Provide appropriate levels of information for various stakeholders and ensure all information provided is timely, accurate, complete, relevant, and meaningful.
Asset and Inventory Management:  Develop and maintain procedures to acquire, record and safeguard fixed assets, and disposables, including the identification, physical verification, and insurance thereof.  Develop and maintain procedures to depreciate, record the depreciation and indicate the residual value and useful lifespan of assets.  Develop and maintain procedures to retire or dispose of assets and the recording thereof.  Co-ordinate the establishment and maintenance of the MQA’s Asset Register.  Develop and maintain procedures to ensure all inventory / consumables are accounted for. Investigate variances until they are reconciled.

Management of revenue, expenditure, liabilities and debtors: Develop and maintain the reconciliation processes for levy income; and review weekly and monthly reconciliations.  Develop and maintain procedures for the accounting of two-way inter-SETA transfers and the collection of disbursements and reconciliations.  Develop and maintain procedures for the investigation and resolution of variances to expected income, for identifying and reconciling employers below threshold and for the recording and reporting of revenue and the maintenance of adequate audit trails.  Develop and maintain procedures to perform periodic cash flow forecasts to detect and prevent potential cash flow problems.  Develop and maintain procedures for petty cash disbursements and reimbursement.  Develop and maintain procedures for accurately recording receipts and payments.  Ensure all information is correctly captured on the system on a day-to-day basis.  Prepare monthly management accounts.

Mandatory grants: accurate, timely grants disbursements in line with statutory requirements:
 Develop and maintain procedures for the timely disbursements of grants to the correct employers in line with statutory requirements, including procedures to ensure employers are informed of the details of payments made to them.  Develop and maintain procedures for ensuring recorded expenditure is accurate, complete, and correctly captured.  Develop and maintain procedures for ensuring SARS reversals are accounted for in the case of employers whose grants were approved in previous financial years.  Follow prescripts of the Skills Development Levy Act in ensuring mandatory grants are paid to employers.

Discretionary grants: accurate, timely facilitation of discretionary grants disbursements in line with statutory requirements:  Develop and maintain procedures to ensure only budgeted expenditure is incurred.  Develop and maintain procedures to ensure only valid, appropriately allocated and authorised discretionary grants are paid.  Develop and maintain procedures for the timely disbursements of grants.  Develop and maintain procedures to verify that employers are informed of the details of payments made to them.  Develop and maintain procedures for ensuring recorded expenditure is accurate, complete, and correctly captured.  Facilitate payments of discretionary grants on the instruction of operations.

Strategic input and enablement:  Participate in the business planning process for Finance.  Oversee the implementation of the business unit’s operational plans and take remedial action where necessary.  Develop and enhance frameworks, policies, and procedures to ensure consistent implementation from an operational perspective; and ensure these are appropriately communicated to relevant stakeholders.
Customer Focus:  Actively build and nurture professional working relationships with internal and external stakeholders.  Co-ordinate relationships between internal and external auditors, bankers, statutory organisations, and financial regulators.  Liaise with the Auditor General and other internal and external stakeholders as required to provide clarity on issues relating to the MQA’s financial statements.  Manage the preparation and submission of documentation to internal and external auditors, track queries and co-ordinate management responses.  Represent the Finance function at relevant internal and external forums / committees as required.

Risk and Compliance Management:  Ensure the provision of a sound financial management within the organisation.
People Management:  Manage team performance.  Ensure the development, guidance, and empowerment of the team to deliver on the business unit’s targets.  Ensure that the performance contracts are in place prior to the start of each financial year in line with the Department’s strategy and plans.  Lead by example in driving the MQA’s values and vision.  Drive own personal, professional development.


Job Requirements: 


Key Requirements: Qualifications, Experience and Competencies
Qualifications:
 A relevant Bachelor’s degree, or equivalent at a NQF 7 level in the fields of accounting.
 A Certificate in theory of Accounting (CTA) or BCom Accounting Honours (SAICA) Accredited at NQF Level 8 will be an added advantage.

Experience:
 A minimum of seven (7) years financial management and accounting experience, of which five (5) years must be at management level in a similar environment.

Competencies: Knowledge:  Knowledge of legislation and regulations that govern the financial operations of a SETA.  Knowledge and insight of the MQA’s strategy and strategic priorities.  Knowledge of quality, risk and audit requirements.  Knowledge of relevant regulations and legislation impacting the MQA, e.g., National Treasury prescripts and policies, PFMA (Section 89 of the PFMA); GRAP; the SDA and its grants; corporate governance requirements, e.g. King IV and Codes of Conduct Legal and regulatory requirements.

Competencies: Skills:  Financial acumen to ensure the organisation remains financially viable and governed.  Business acumen for strategic and financial capability.  People skills to manage and motivate staff.  Self-Management.

Competences: Attributes:  Must be able to display sound abilities to listen, advise, consult, influence, negotiate and present at all levels.


Job Type: 

Permanent

Company Name: 

Mining Qualifications Authority

Company Location: 

Posted
08/01/2022
Location
Johannesburg, GT, ZA