Head: Finance

3 months ago

Sandton, South Africa IIE Varsity College , IIE Vega and IIE MSA Full time

**Direct Reporting Line**:
Campus Head

**Varsity College** is an educational brand of The Independent Institute of Education (The IIE). The IIE enjoys the reputation of being at the forefront of private higher education in South Africa, and is registered with the Department of Higher Education and Training (DHET) to provide higher education qualifications accredited by the Council on Higher Education (CHE).

The IIE's Varsity College Sandton Campus has a vacancy for a Head: Finance.

**Duties and Responsibilities**:
**Business Partnering Across the Campus**
- Plans and manages the finance approach on campus specifically the budget as aligned to the overall campus plan.
- Supports the overall budgeting process across the campus.
- Tracks and monitors the budget throughout the year.
- Monthly analysis of variances. Preparing variance analysis for campus Senior Management Team so comment can be provided.
- Reviews expenditure and costs and suggests remedial actions to achieve EBIT (Earnings Before Interest & Tax).
- Forecasts outcomes for year end EBIT and proposes plans in order to achieve the amount or reallocate to business critical area.
- Works with campus Senior Management Team to review expenditure and advise on approaches to achieve EBIT.
- Manages the budget preparation process as per the national guidelines.
- Tracks and communicates the budget to stakeholders monthly.

**Management of Internal Controls**
- Implements, monitors and enforces the internal control environment across the campus.
- Reviews internal controls, identifies risk and makes amendments and recommendations.
- Manages the asset register and updates in the event of movements and changes.
- Conducts monthly audit of assets across the campus including working with IT and Facilities for tagging of assets.
- Monitors the compliance to registration process including documentation, process adherence and accuracy.
- Reviews, handles and resolves audit findings.
- Updates and reconciles Fixed Asset register Reconciliations - gives the new asset numbers to the relevant departments to ensure asset are tagged - weekly / monthly.

**Debtors Management**
- Drives the achievement of monthly targets for the collection.
- Tracks and analyses daily performance of the team.
- Co-ordinates the correct allocation of bank statements to student accounts.
- Checks that payment plans on student accounts are all loaded correctly.
- Co-ordinates that all adjustments and refunds are captured as well correct supporting documentation is obtained.
- Checks that banking is balanced and completed on at least twice a week and all ensures relevant policies and procedures are adhered to.
- Oversees the debt collection process to meet the specified debt collection requirements.
- Reconciles student bursaries and any necessary adjustments to individual student accounts.
- Review credit balance report to ensure that correct processing against unit accounts and compliance with regulatory requirements.

**Creditors Management**
- Verifies and reconciles purchase orders and invoices.
- Captures invoices and payment of invoices to creditors accounts.
- Substantiates individual transactions prior to settlement of those invoices.
- Makes weekly / monthly payment of creditors.
- Manages and balances procurement card on campus continuously.
- Prepares ongoing procurement card reconciliations
- Captures all new suppliers onto system.
- Reconciles supplier accounts to creditors ledger.

**Student Administration**
- Oversees the administration process related to cancellations, deregistration's and appeals of student contracts continuously. This includes weekly participation on relevant committee.
- Manages campus administration for registration process.

**Billing and Reporting**
- Balances loan and sweeping accounts weekly.
- Captures bank statements daily and sends bank reconciliations out monthly.
- Loads and reconciles salary and lecturer journals - monthly and investigates variances where applicable.
- Processes and balances monthly General Ledger reconciliation - up to Trial Balance.
- Oversees the updates of the credit balance report - monthly.
- Provides weekly cash flow and Capex report.
- Checks and clears all debit balances from vendor accounts - monthly.
- Raises accruals for expenses not yet received - monthly.
- Assists in the drawing up of the yearly budget - normally twice a year.
- Manages dual reporting responsibilities of all of the above to both National and campus Senior Management Team.
- Reports on results as part of the campus Senior Management Team.

**Finance Team Management**
- Manages Credit Controllers to achieve monthly financial targets and ensures operational effectiveness.
- Oversees campus finance team to ensure smooth functioning of student administration for the campus.
- Ensures that finance and operations work together to ensure best student customer service is achieved.
- Develops, trains and manages performance for the team to ensure optima

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