Divisional Finance Executive

The Divisional Finance Executive is a business partner to the Divisional Managing Director and should be closely engaged in designing, adapting and implementing the business models in support of the strategy. The Divisional Finance Executive is expected to recognize that measurement drives behavior, which ultimately determines value creation and preservation, ensuring a high return on effort. The Divisional Finance Executive is responsible for overseeing the accurate and timely reporting of the Division’s financial results and performance to the Retail EXCO and MOTUS. Risk Management is one of the main responsibilities of the Divisional Finance Executive and includes ensuring that internal controls are operating effectively as intended, monitor adherence to internal controls by the greater workforce and take remedial actions where required in order to enforce company policy. The Divisional Finance Executive is responsible for the relationship with and communication to all stakeholders.

Division includes: VW, Audi, Ford, Mazda, Jaguar, Land Rover, Volvo, Haval and Chery

**Position Overview**:

- Management of Finance staff
- Ensure that the Finance Executive, RFM/ FMs manage the Accountants and other finance staff appropriately
- Ensure that Finance Executive, RFM do regular dealership visits
- Ensure all Finance Executive, RFM/ FMs have proper job descriptions
- Ensure all Finance Executive, RFM/ FMs are aware of policies and procedures to be adhered to
- Quarterly performance appraisals to be done with Finance Executive, RFM/ FMs
- Ensure training is done with Finance Executive, RFM/ FMs and other admin support staff
- Ensure Finance Executive, RFM/ FMs are aware of deadlines and are submitting reports timeously according to monthly deadlines
- Recruit, interview and hire finance staff
- Manage talent and succession planning
- Provide adequate training to all finance staff
- Financial Analysis
- Provide the Divisional Managing Director with detailed Management accounts on a monthly basis
- Analyze Management accounts and advise Divisional Managing Director of KPA’s, make recommendations
- Analyze Gross Profit Margins and advise Divisional Managing Director accordingly
- Analyze expenses by comparing to previous year and budget figures and advise Divisional Managing Director, accordingly
- Analyze key expense accounts in detail and ensure procedures are in place to limit wastage
- Ensure Finance Executive, RFMs/ FMs are reviewing Management Accounts on a regular basis and advising Divisional Managing Director of KPA’s not met and expenditure
- Maintain the standard chart of accounts
- Ensure all monies written off are authorized and reported adequately
- Provide Divisional Managing Director with recommendations to achieve profits
- Highlight loss making dealers and assist with decisions regarding long-term viability
- Perform due diligence of potential new businesses and advise Divisional Managing Director accordingly
- Manage financial planning and analysis through creation of reports, software implementation and tools for budgeting and forecasting
- Safe guarding Assets & Risk management
- Ensure levels of authority is adhered to
- Implement and maintain sufficient internal controls to safe guard assets:

- Ensure that all physical vehicle stock counts & parts perpetual counts are performed in-line with company policy
- Ensure that cash procedures are in place at dealerships
- Ensure that a proper fixed asset register is maintained, fixed assets are labeled and physically verify assets at least once a year
- Ensure that Capex forms are authorized before ordering assets and that disposals are duly authorized
- Oversee the annual insurance renewal process and ensure appropriate coverage is maintained at all times.
- Ensure that dealerships have sufficient security measures in place to protect assets.
- Review Monthly GL recon File (Balance Sheet)
- Review GL recon Files for each Dealership every 2nd month
- Ensure Dealer Principal, Divisional Managing Director and CFO gets a copy of the monthly review
- Ensure that all supporting documents are included in the GL recon file
- Ensure that GL recon files are complete and standardized across the Division
- Ensure that all queries older than 30 days are resolved and escalate if necessary
- Ensure that the Divisional Managing Director and CFO are aware of any material problems on the Balance Sheet
- Give guidance on what is expected to be included in the monthly General Ledger recon file and monitor that the files and related information are of a high standard

**Specific Role Responsibilities**:
5. Review Creditors reconciliations
- Review Creditors Reconciliations on a spot check basis
- Ensure that all items outstanding longer than 30 days are resolved
- Ensure that optimum payment terms or settlement discounts have been negotiated
- Ensure proper SLAs are in place with suppliers
- Ensure that cashflow is well managed
- Ensure that letters to Suppliers