Financial Manager

4 weeks ago


Durban, South Africa Adzuna ZA B C2 Full time

Job Purpose:

  • To manage the financial and administrative functions for the Business Unit in line with Divisional objectives. Reporting to: General Manager.

Minimum Requirements:

  • Matric/ Grade 12
  • BCom Degre in Business Administration
  • 5+ Years in a similar role
  • CIMA (Highly Advantageous)

Responsibilities:

Financial Strategy:

  • Participate in organisational strategy management from a financial management perspective

General Financial Management:

  • Provide financial analysis and support to management and all operational areas of the business

Internal Control:

  • Compile and update the risk register
  • Manage and comply with internal controls

Budgets:

  • Prepare operational budgets

Forecasts:

  • Review all forecasts

Financial Pack:

  • Review the monthly Business Unit financial pack and identify variances
  • Prepare financial reports and returns (Monthly BU/Plant Financial Pack)

Flash Results:

  • Review the automotive division flash results and action variances
  • Compile the BU/Plant flash results and analyse variances

CAPEX:

  • Analyse the Divisional capex reports and review the BU/Plant capex reports

Weekly Sales Report:

  • Review weekly sales reports

General:

  • Participate and provide relevant information for board meetings and Divisional monthly or bi-monthly meetings.
  • Comply with IFRS

General Ledger:

  • Review balance sheet account reconciliations.
  • Review and authorise Journal entries.

Audits and year-end processes:

  • Prepare and plan year-end statutory audit (external and internal) in line with the consolidated audit plan.
  • Prepare and review year-end reporting accounting and Tax Packs
  • Follow up and action audit findings
  • Prepare and update corp tax schedules

Banking:

  • Manage banking systems (users, passwords, profiles, etc.).
  • Approve all new creditors (local and foreign)
  • Release weekly bank transfers (creditors and wages).

Cash Management:

  • Source financing to meet budgeted cash-flow requirements
  • Monitor daily cash positions and cash flows to ensure settlement and maximise performance
  • Manage cash flow and working capital.

Forex:

  • Manage Forex risk.
  • Manage the purchase Foreign Exchange Contracts (FEC's)
  • Review Forex Forecasts
  • Authorise foreign payments

Costing:

  • Make recommendations for the financial recovery on distressed parts
  • Calculate and propose price increases (per Customer for Sales Dept)
  • Negotiate and agree price increases with major customers
  • Manage costing department ensuring BOM accuracy and related variances (MUV, PPV’s, stock variances).

CAPEX:

  • Perform project appraisals and valuations
  • Review CAPEX spend

Fixed Assets:

  • Reassess useful life and residual value of fixed assets

Statutory Returns:

  • Ensure compliance with the general tax provisions
  • Review statutory returns (VAT, PAYE, SDL, UIF, WCA)
  • Prepare and submit Government Incentive Applications

Stock Control:

  • Manage stock holdings

Insurance:

  • Prepare and submit Insurance Declarations
  • File claims for losses

Creditors:

  • Review and authorise Creditors payments

Debtors:

  • Calculate the repayment ability and assess the credit risk of potential clients
  • Manage Credit Risk (insure Debtors Book, etc.)
  • Review tooling account

Continuous Improvement:

  • To be the custodian of the CI (Continuous Improvement) database and CI Standards of accounting.

Reporting:

  • Analyse and interpret finance reports and statistical data
  • Prepare financial reports and returns
  • Generate information and reports for internal and external use

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