Supply Financial Controller

3 days ago

Cape Town, Western Cape, South Africa Vivo Energy Full time
Job Purpose:

The Supply Financial Controller ("SFC") plays an active role in the Finance management of his/her Operating Unit. He/she ensures that a robust and fit for purpose business and financial control framework is in place and that internal and external governance requirements are met.

The Financial Controller implements and maintains controls and accounting systems, which safeguard the company's assets and properly record its liabilities, ensuring delivery of correct and complete financial and management accounting information including IFRS group accounts, statutory, fiscal and other local reporting requirements. She/he will be responsible for accountants and A/P, A/R, stocks departments as they relate to the service of the financial reporting and transactional accounting of the company. Accomplishes tasks with particular emphasis on customer service and seeks to add value for the company's managers. He/She is accountable for the communication and coordination between Accounting dep. and the Operations/CoB. This also requires working with VE central team, Business Finance, Planning, Business, Corporate controllers and external parties including external consultants, external auditors, fiscal authorities etc.

Reports to: S&R MI Business Partner

Requirements

Principal Responsibilities:
  1. Providing financial advice, information and services to the Finance Manager and, where requested, to the OU Management team.
  2. To ensure that the results of the operations of the company are reported to the shareholders in compliance with relevant legal obligations and that generally there is compliance with all local regulations.
  3. Proactively managing controls over the ERP system to ensure that they are in place, effective, and consistently applied.
  4. Ensuring that the transactions in SAP/ETRM/bank systems are daily authorized according to VE Manual of Authority.
  5. KPIs are reviewed monthly and maintained at high 'pass' levels (defined as >90%).
  6. Master file and address book changes are correctly controlled and authorized.
  7. Data is properly classified and coded.
  8. Manual entries are properly reviewed and approved.
  9. Integrity differences are followed up and cleared.
  10. There is appropriate segregation of duties.
  11. Assisting preparation of the annual plan.
  12. Ensuring that controls are in place and effective throughout the OU. In particular, that receipts and issues are properly authorized and recorded.
  13. Duties and levies are paid and recorded accurately and on time.
  14. Gains and losses are properly analyzed and investigated where these exceed industry norms and above tolerance allowed by the Manual of Authorities (MoA).
  15. Accruals values are not over or understated.
  16. Ensuring that accounts payable and accounts receivable controls are in place and effective in the OU; also that suppliers and service providers are paid accurately and on time, in liaison with the operations team.
  17. Ensuring that product prices and margins are analyzed and reconciled monthly with the middle office system (ASPECT) and that discrepancies are investigated and resolved as necessary.
  18. Ensuring that the OU Manual of Authorities is kept up to date consistent with the Vivo Energy MoA.
  19. Ensuring that IFRS Group financial policies and standards, are implemented and applied throughout the Operating Unit (OU) for which he/she has responsibility.
  20. Ensuring that monthly, quarterly, half yearly and annual statutory and group accounts and tax returns are prepared and filed accurately and on time.
  21. Providing support and facilitation to external tax and accounting auditors for all legal entities in the country and maintaining proper books, records and archives to support these.
  22. Liaising with tax advisers and assisting actively with their efforts to minimize the tax burden of the OU and any JV for which he/she is responsible.
  23. Monitoring, in conjunction with the Supply Finance Manager, by personal review and supervision, the status of bank and other balance sheet reconciliations throughout the OU.
  24. Ensuring that internal and external audit recommendations and action items are implemented by their due dates.
  25. Ensuring that Cross Border Charging Service Level Agreements for Regional and Group Fees are in place and up to date.
  26. Ensuring that retirement benefit plans are properly financed and managed.
  27. To conduct specified projects relating to accounting systems, and accounting policies/procedures to ensure adequate controls are in place.
  28. Ensuring that all financial data and records is safely and securely stored and archived so that the requirements of the auditors and fiscal and other authorities can be met.
  29. Promoting at all times the Vivo Energy culture.
  30. Acting at all times in accordance with the Vivo Energy Business Principles, values and the Group's policies on health, safety and the environment with specific responsibility for security, safety and occupational health within the department.
Key Challenges:

The incumbent has to balance the differing governance requirements required by the laws and regulations of the country with the different, but no less demanding, internal governance requirements of the shareholder. These often overlap, occasionally conflict, but always have to be managed. Both require an appropriate controls framework and satisfactory management information system and improvements to these are a key objective and challenge especially were hampered by low competencies, poor communications infrastructure and logistical problems. It is therefore of paramount importance that he/she has the experience and leadership qualities that will enable them to network across these boundaries and build the relationships that will enable them to influence others to accept and implement change.

At the same time the incumbent also has to meet the changing needs of the business, applying Vivo Energy Group Policies and standards and contributing actively to numerous Group and Local initiatives.

To develop and ensure that staff are sufficiently competent to work with SAP/ETRM systems and business challenges.

Job Knowledge, Skills & Experiences:
  1. Finance degree, economics degree or qualified accountant.
  2. At least 5-7 years' experience in a similar position.
  3. Knowledge/application of Accounting Standards (IFRS and GAAP).
  4. Strong knowledge of ERP systems, preferably SAP/SGR.
  5. Knowledge of local Tax Laws.
  6. Good communications, influencing and networking skills.
  7. Ability to self-start and work under pressure.
  8. Capacity to work in a challenging and changing environment.
  9. Ability to build relationships, teamwork and networking in a virtual international context.
  10. Customer focused.
Competencies required:
  1. Maintain Finance Organization - Skill.
  2. Accounting Policies and Standards - Skill.
  3. Applying Accounting Principles - Skill.
  4. Generic Accounting Practices and ERP - Knowledge.
  5. Risk Management - Skill.
  6. MI and business decision support - Skill.
  7. Define/Maintain SLAs for Customer/Service - Skill.
  8. Provider Relationships - Knowledge.
  9. Assure Correctness & Integrity of Accounts - Skill.
  10. Discharging Corporate Obligations - Skill.
  11. Local Statutory Accounting & Reporting - Skill.
  12. External Auditor Relationship - Knowledge.
  13. Tax Accounting - Skill.
  14. Knowledge of Accounting Systems - Skill.
  15. Banking Operations - Skill.
  16. Pension Funds - Knowledge.
  17. Corporate Income Tax - Skill.
  18. VAT/Sales Tax - Knowledge.
  19. Customs/Import Duty- Knowledge.
  20. Excise Taxes/Duties - Knowledge.
  21. Demonstrates Courage - Skill.
  22. Champions Customer and Stakeholder- Knowledge.
  23. Commercial activities - Knowledge.
  24. Microsoft Office Applications - Skill.
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