With over 120 years’ experience in the manufacturing industry, our client has established themselves as the continent’s leading manufacturer in its field. They currently seek a Financial Manager who will be responsible for the management of the financial accounting function including the preparation, control and management of financial accounts, establishing accounting policies/procedures and ensuring compliance and timeous reporting on financial results. The Person:
- CA (SA).
- Minimum 6 to 8 years Management experience in a Manufacturing environment.
- SAP ERP experience.
- Foreign Exchange experience.
- Strong technical knowledge of Accounting Standards (IFRS, IAS).
- Strong financial system and business administration.
Financial Accounting and Reporting:
- Ensure administrative and financial systems and procedures are used efficiently, compliant and integrated with other business systems and understood by users.
- Ensure all transaction processing is completed in line with statutory compliance requirements and service standards.
- Manage the accurate reporting of financial information in the general ledger in line with accounting policies and controls.
- Manage the preparation, payment and release of creditor’s payments and manage the resolution of outstanding payables.
- Ensure collection of receivables in line with payment terms and manage within receivables targets.
- Ensure optimal working capital management and implement and maintain performance measures.
- Manage cash flow, commitments and cash projections.
- Deliver timeous financial and statutory reporting to ensure compliance and enable decision making.
- Manage the preparation and distribution of monthly management accounts including communication of financial variances.
- Prepare and report on the financial performance against budget.
- Manage the preparation and publishing of the annual financial statements in line with International Financial Accounting Standards and statutory requirements.
- Plan and manage the department budget as per Authority Limits and Procurement. Policy while ensuring adherence to BBBEE requirements.
- Manage all tax related matters for the company.
Production Accounting and Inventory Management:
- Participate in the setting of the company strategy and the setting of targets and measures from a financial perspective.
- Analyse key financial data and advise management on strategic business planning.
- Participate in setting the strategy of the Finance department in collaboration with the Chief Financial Officer.
- Responsible for executing the departmental strategy by leading financial operations, including developing the department’s annual performance and operational plans.
- Manage production accounting ensuring that all production transactions are completed and are synchronised with the ERP system.
- Ensure material balances of all stock and regular verification of inventory by responsible teams. Investigate and report any stock imbalances.
- Manage production reporting and analysis.
- Assess and manage the risk exposure for the company relating to raw materials, including exchange and commodity risk.
Stakeholder and Team Management:
- Oversee the whole process of fixed asset management as the company custodian.
- Ensure that all fixed assets are adequately insured.
- Develop, document and implement appropriate systems and controls.
Internal Systems and Controls:
- Organise and co-ordinate the Finance team and other resources to achieve desired work output, targets and outcomes.
- Ensure that the Finance department is optimally staffed to achieve organisational objectives.
- Provide leadership to the team, defining objectives to be achieved by the department.
- Deploy people management processes – workforce planning, recruitment & selection, learning and development, performance management, career and succession planning and employee relations etc. effectively, in line with organisational policies, procedures and prevailing improvement initiatives.
- Manage the working environment and ensure it contributes to improving staff morale and increasing productivity.
- Develop and maintain policies, processes, procedures and implement financial systems to ensure continuous alignment with best practices, and regulatory standards.
- Monitor and ensure compliance with International Financial Accounting Standards and implementation of financial policies.
- Support audit processes including external audits by providing all required documentation, and reviewing and answering audit findings.
- Oversee the auditing process of Internal & External Auditors and related communication.
- Plan internal and external audits and financial year timetable.
- Implement corrective action as arising from audit recommendations.
- Monitor the effectiveness of internal control systems in order to ensure the ongoing adequate segregation of duties and the detection of fraud and error.
- Manage delegations of authority appropriately.
- Identify and monitor departmental risks and develop and maintain a risk register and drive initiatives to mitigate risk exposure.