Executive: Finance Operations

7 months ago

Midrand, South Africa Liquid Tech (Pty) Ltd. Full time

**Role Purpose**

To lead and develop the strategy for the Operational Finance Team (Procurement, Billing Operations, Credit Management & Collections and Revenue & Receivables Accounting teams) and ensure that there are operational and process efficiencies in both the teams to meet the needs of LITSA’s internal and external customer requirements and ensure that we support the overarching business objectives.

**Role Description**

In conjunction with the Chief Financial Officer, develop the strategy for the Procurement, Revenue Management, Payables, Billing Operations and Credit Management Teams

To develop the Procurement strategy and to ensure that the strategy is aligned to the business goals. - Develop and drive the Credit Risk and Billing Management strategy - Prepare and implement policy for Revenue accounting and receivable across all products and source of income for the company Public - Manage and Supervise the Accounts Payable operations - Manage and supervise the settlements of Intercompany Receivables and Payables - Identify and act on the areas where value can be added or exploited further or in existing areas where value is enhanced to bring efficiencies - Continuously align to the changing needs of the business and ensure effective customer and stakeholder management.

Collection

Define and enforce optimal collection processes to optimize collections and minimize bad debt, - Ensure that collection targets are defined and attained on monthly basis. - Define policies that facilitate risk control and encompass legislative and regulatory requirements - Calibrate collection processes and systems to reduce potential risk exposure - Reduction in debtors >90days (excluding contractual disputes, AOD & Write-off’s) - Provide regular feedback to Sales team / Senior management on the health of the customer and challenges across sales and service delivery processes impacting customer experience.

Billing - Define a billing process that will ensure billing is consistent, accurate, timely and seamless in all billing platforms - Identify and drive improvements in the Billing process and enhance quality of billing experience - Maintain the Billing quality and accuracy of the invoices generated (criteria to measure would be credit note passed due to Billing team) - Ensure reduction in the invoice delivery failures - Engage with cross functional teams to reduce or manage Manual billing due to process and system constraints. - Review the defects during billing process with IT / other business units and eliminate them to improve customer billing experience. - Maintain an understanding of related systems to develop integrated billing systems and processes.

Procurement - Ensure optimal (Price & Quality) and integrated sourcing takes places across the organisation. - Ensure effective procurement operational, governance, compliance and CSR is in place - Ensure procurement savings and efficiencies targeted by the business are achieved. Drive automation in sourcing efficiencies and supplier engagement models through increased EProcurement utilisation, where applicable and when the system can be used, manual processes not permitted.

Revenue and Receivables Accounting and Audit Prepare and maintain accounting policies for Revenue recognition and Trade Receivables according to the IFRS guidelines. Maintain appropriate accounting records for revenue and receivable. Review and approve accounting reconciliations for Revenue and Receivables Provide the relevant monthly, quarterly and annuals report for revenue and receivables, for all products line across all customer segments. Provide support to cross functional team specially on the matters related to Revenue accounting and credit risk assessment. Manage auditing processes (external and internal) with respect to the Revenue Management and Collection.

Compliance and Reporting Ensure that auditors are provided with reports that monitor and ensure compliance, rectifying issues-Identify timeously and implement recommendations made. Internal Audit - No critical and 50% reduction in High observations from previous year Ensure ongoing reporting and communication to critical stakeholders on regular basis. Ensure company abides different regulatory and functional compliance like RICA, FICA, POPI related to customer billing and credit information.

Systems and Policies - In conjunction with IT, ensure that the Financial Systems function optimally. - Develop / Supervise the development of appropriate policies, process and procedures in Finance that ensure financial reporting integrity. - Chairperson of the Procurement Committee

Take Accountability to Lead, Guide & manage a HighPerformance team. Structures (10) - Review, update and maintain the Department structure in line with the Human Resources Policy. This includes the annual evaluation of Job profiles with the Human. Resources Business Partner to ensure that all jobs are kept relevant to the role that is performed. Plan h

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