Group Financial Manager

Our company, based in Somerset West, Western Cape, offers a full in-office position (no remote work), operating Monday to Friday in a relaxed and friendly work environment.

The Group Financial Manager (GFM) is responsible for the full financial management and administrative oversight of a group of companies, comprising five or more registered entities. This role requires extensive experience in the retail/wholesale sector, focusing on operational and supply chain management. The Financial Manager will oversee the full financial and administration function (including human resources) and, ensure legal and tax compliance and provide strategic financial advice to support the companys goals. Experience in managing complex financial operations within a multi-entity structure is essential, with retail and supply chain experience being an advantage.

FINANCIAL MANAGEMENT AND REPORTING

• Oversee and manage the full financial function across multiple entities within the group.
• Prepare monthly, quarterly, and annual financial statements, ensuring accuracy and compliance with statutory requirements.
• Manage financial planning, budgeting, and forecasting processes.
• Provide in-depth financial analysis and reports to Group CEO.
• Ensure timely consolidation of financial data across all entities.
• Oversee the full creditors'' function, ensuring all supplier payments are processed accurately and on time.
• Review and approve payment schedules, ensuring sufficient cash flow for payments while optimizing supplier terms.
• Monitor and maintain relationships with key suppliers to negotiate better payment terms where applicable.
• Perform monthly reconciliations of creditors'' accounts to ensure alignment between company records and supplier statements.
• Manage the full debtors'' function, ensuring timely invoicing and the collection of outstanding payments.
• Develop and maintain effective credit control processes to minimize overdue payments and bad debts and manage the credit insurance policies on behalf of the group.

OPERATIONAL FINANCE AND SUPPLY CHAIN MANAGEMENT

• Oversee financial processes within the retail sector, ensuring efficiency in supply chain and operations.
• Monitor and optimise cash flow, including working capital and liquidity management.
• Collaborate with supply chain and operations teams to control costs and enhance profitability.
• Manage financial risks related to supply chain disruptions and retail operations.
• Negotiate and manage financial aspects of supply chain contracts, ensuring favourable terms and conditions for the group.
• Monitor and regularly review supply chain agreements to ensure they align with business needs and financial objectives, making adjustments as necessary.
• Ensure clear communication of payment terms, delivery conditions, and any financial penalties associated with non-performance or delays.
• Oversee the financial vetting and approval process for new vendors, ensuring that they meet the company''s financial and operational standards.
• Work with procurement teams to establish and maintain a vendor application process, which includes background checks, creditworthiness assessments, and financial stability analysis.
• Ensure proper documentation and records management throughout the vendor onboarding process to maintain audit trails and compliance.
• Ensure all vendors comply with the company''s trading terms, including payment schedules, delivery deadlines, and product/service quality standards.
• Manage vendor relationships by enforcing trading terms while maintaining open lines of communication for renegotiation or conflict resolution.
• Collaborate with supply chain and procurement teams to identify and resolve any vendor compliance issues, minimising disruptions to the supply chain.
• Manage the financial relationships with key vendors, ensuring timely payments and adherence to contractual obligations.

COMPLIANCE AND AUDIT

• Ensure compliance with all relevant local and international financial regulations, including tax laws and corporate governance standards in South Africa.
• Submission of tax returns (VAT, income tax, dividends tax, PAYE) to the revenue authorities.
• Submission of annual returns to the CIPC.
• Maintain company and financial records in compliance with tax and company legislation.
• Ensure compliance with Exchange Control requirements (SARB).
• Coordinate external compilation of financial statements, independent reviews or audits, ensuring the timely submission of required financial documents.
• Maintain accurate financial records in line with statutory requirements and company policies.
• Ensure full compliance with South African financial regulations, including tax laws, labour regulations, and any industry-specific standards applicable to the retail and supply chain sectors.
• Stay up to date with any changes in financial regulations or corporate governance requirements, ensuring that the groups financial operations are always compliant.
• Ensure that all financial statements are prepared in compliance with accounting standards such as International Financial Reporting Standards (IFRS), depending on the company''s requirements.
• Maintain systems for tracking and reporting on compliance with BEE requirements, ensuring that the company meets its obligations and maximises potential benefits.
• Manage compliance with the Companies Act for corporate governance, and other relevant corporate governance standards in South Africa.
• Liaise with external auditors to facilitate a smooth and efficient audit process, ensuring that all required financial records and documentation are prepared and available for review.

FINANCIAL CONTROLS AND ADMINISTRATION

• Develop and implement financial controls to safeguard company assets and ensure financial accuracy.
• Oversee accounts payable and receivable, ensuring timely payments and collections.
• Ensure the implementation of cost-saving measures and monitor financial performance across all business units.
• Manage payroll processing and ensure compliance with labour laws and regulations.
• Develop and maintain comprehensive financial models to support budgeting, forecasting, and long term financial planning.
• Assist in preparing business cases and financial models for new projects, investments, or expansion strategies.
• Ensure that financial models are updated regularly to reflect actual performance and any changes in assumptions.

• STRATEGIC FINANCIAL PLANNING
• Provide financial advice to senior management, supporting the companys overall strategic goals.
• Analyse financial data to identify areas for improvement, cost reduction, and operational efficiency.
• Assist with mergers, acquisitions, or expansion strategies, providing financial insights and due diligence.
• Monitor supply chain-related financial performance, including cost variances, supplier pricing, and inventory costs, to ensure alignment with the companys overall financial objectives.
• Prepare detailed reports on supply chain financials, including vendor costs, savings achieved through negotiation, and the financial impact of supply chain disruptions.
• Work with the management to develop and maintain financial forecasts and budgets for supply chain activities.
• Ensure that supply chain financial data is accurately reflected in the companys overall financial reporting and is aligned with broader corporate financial goals.
• Analyse supply chain costs and performance, recommending strategies for cost reductions or process improvements where feasible.

SKILLS, KNOWLEDGE AND EXPERIENCE

• Postgraduate qualification in Finance, Accounting, or a related field
• Registration with a professional body such as SAICA or CIMA.
• Individual must possess a minimum of 5+ years of experience in financial management, with significant exposure to the retail sector and multi-entity structures.
• Extensive experience in operational and supply chain finance management.
• Strong knowledge of South African tax laws, financial regulations, and corporate governance.
• Proven track record in preparing financial reports, managing audits, and ensuring statutory compliance.
• Advanced skills in financial software and ERP systems.
• Highly advanced Microsoft Excel skills including the ability to design fit-for-purpose spreadsheets to enable reporting and record-keeping
• Strong communication, negotiation, and stakeholder management abilities.
• Ability to think creatively and strategically.
• Possess excellent communication skills.
• Excellent command of English both written and verbal, speech clarity
• Hardworking with a strong work ethic
• Attention to detail; organization, presentation, written and verbal communication skills
• Ability to independently take control over the financial and administrative functions of the companies within the group.