Senior Financial Manager - Pinetown
Our client, a component manufacturer, providing high quality products and services to local and international clients, requires the skills and expertise of a Senior Finance Manager.
JOB DESCRIPTION
Job Title:
Senior Financial Manager
Job Purpose:
To direct the accounting functions of the company.
Responsible for the formulation and maintenance of the company’s accounting and financial policies and practices.
Liaises with all departments in the preparation of budgets and financial reports.
Executive Management Role
• Participate as a member of the executive team.
• Participate in the key decision making of the business.
• Keep abreast of critical issues in other departments.
• Performance management records.
Financial accounting and management accounting controls
• Oversee Financial Accounting Department to ensure proper maintenance of all accounting systems and functions.
• Ensure maintenance of appropriate controls and financial procedures.
• Make decisions as final point of escalation for accounts payable and accounts receivable issues.
• Ensure all month end activities are in place including general ledger and control account reconciliations.
• Perform final review before signing off of external audit.
• Review preparation of Annual Financial Statements
• Oversee/review the monthly management reporting ensuring timeliness, accuracy and usefulness.
• Monitor financial performance by analysing results and implementing and facilitating corrective action to minimise impact of variance against budget.
• Ensure correct evaluation and reporting of all inventory in the business
Job costing
• Implement and maintain the company job costing system.
• Oversee the preparation of monthly costing reports,
• Review projects with Project Managers and Manager Director at the monthly meetings.
Treasury
• Manage cash balance and cash forecasts.
• Oversee the cash flow plans and ensure the availability of funds as needed. Manage working capital requirements of business.
• Arrange debt financing with group and external institutions and repayment of these loans.
Financial planning and budgeting
• Develop, co-ordinate and monitor budgets for the entire business in its entirety.
• Present annual financial budget to the management team.
• Review budgets quarterly and forecast prepared and present to Exco.
• Advise on the optimum financing options for the company to ensure that there is an optimum balance between employment of company capital and loan financing
Risk management and insurance
• Maintain the risk register.
• Oversee the annual renewal process of insurance and ensure proper cover at lowest cost is maintained at all times.
• Oversee process of insurance claims.
Tax
• Review tax calculation.
• Ensure company complies with tax laws.
• Investigate the optimum tax and duty structure for the company.
Asset management/fixed assets
• Develop and maintain a capital budget.
• Track and report capital spend against budget.
• Ensure process for capital expenditure is followed.
• Negotiate the annual renewal process of asset finance facility.
IT operational management
• Oversee IT Department ensuring continuous service delivery.
• Review and approve all IT service contracts and equipment.
• Prioritise and control projects in relation to business requirements.
Payroll
• Review weekly payroll report on a random basis.
• Review in detail monthly salary report
People management
• Manage and motivate all subordinates.
• Monitor staff performance to ensure good performance is acknowledged and poor performance corrected.
• Facilitate skill acquisition and development.
Project assessments and feasibility studies
• Provide financial analysis to assist with feasibility studies on future projects.
• Provide financial analysis to assist with feasibility on potential acquisitions.
• Apply cost benefit analysis on capex proposals and advise on financial viability.
• Understand all industry related incentives available to the business.
• Manage the application and payment from Industry related incentive funds.
Standards, Procedures & Administration
• Ensure compliance with all Company standards and procedures.
• Ensure confidentiality of all information is always maintained.
• Ensure all administration and documentation are presented neatly and professionally.
Quality
• Ensure understanding and application of all relevant policies and procedures set out in the Quality Management System as may be appropriate.
• Ensure that audit findings are resolved timeously.
• Ensure that the payroll is processed accurately and timeously
Safety, Health, Environmental & Housekeeping
• Adhere to all laid down Company safety policies & the OHS Act.
• Ensure that the work environment, furniture and equipment are maintained and kept in an orderly manner.
• Ensure there is a safe working environment for all employees.
• Responsible for meeting the Safety targets set for the company.
• Responsible for ensuring that the department adheres to ISO14001 policies and procedures.
• Ensure that all IODs are reported timeously
Budgets
• Ensure an understanding of the departmental budget, as may be applicable and ensure a practice of cost control.
• Responsible for timeous and accurate submission of Budget to the Finance department on an annual basis.
• Ensure that department financial budgets are adhered to.
• Responsible for reporting on performance against the financial budget.
• Responsible for implementing cost-saving activities to adhere to department budgets and improve the profitability of the business.
• Understand the capacity constraints in the departments to facilitate manpower scheduling in line with the budget requirements
Risk
• Identify the risk processes in the department and implement countermeasures to negate the risks in relation to legal compliance and customer requirements.
• Ensure compliance with the Mibco Main agreement and relevant labour legislation.
• Ensure all statutory reports are completed and submitted timeously.
Reporting
• Ensure accurate and timely reporting as may be applicable to the respective KPAs for the position.
Minimum Qualifications.
• CA(SA)
Experience
• 5 to 10 years post qualification with at least three (3) years working in a financial management role in an automotive manufacturing environment.
• Strong costing experience in a manufacturing environment – preferably automotive.
Computer Literacy
• MS Outlook
• MS Word
• MS Power point
• MS Excel
• Accounting Packages
Knowledge
• Financial management
• Cost accounting
• Managing working capital requirements
• Negotiating and drafting commercial contracts
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