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Financial Operations and Administration Lead
2 months ago
Essential qualifications for the position:
- Possession of an honours degree in Commerce, Economics, Business Strategy, or a related field.
- A minimum of 5 years of experience in a managerial role.
- Familiarity with risk management principles, frameworks, and methodologies is a plus.
- Proficient understanding of International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs) and IFRS.
- Expertise in fraud prevention techniques is crucial.
- Comprehensive knowledge of monitoring and evaluation frameworks, as well as familiarity with Companies Act, Income Tax Act, Broad-Based Black Economic Empowerment (BBBEE) legislation, POPIA, and other relevant laws and regulations.
- A reliable and well-maintained personal vehicle, adequately insured for business visits.
- Willingness to travel within Southern Africa and occasionally internationally.
The appointed individual will be tasked with:
- Interacting with end users and suppliers while representing the organization in a professional and positive manner.
- Enhancing shareholder value through effective management of the Treasury function.
- Reconciling all bank accounts, accounts payable ledgers, and general ledger accounts.
- Upholding accounting controls by adhering to established financial policies and procedures.
- Compiling monthly management accounts, including updating cash flow forecasts and other financial reports.
- Preparing VAT and income tax reconciliations.
- Generating management accounts for quarterly presentations to the Board.
- Serving as the primary contact for finance-related inquiries from staff, directors, and suppliers, while providing financial support to team members and ensuring adherence to policies and procedures.
- Assisting in the preparation of year-end accounts and facilitating any external reviews.
- Developing budgets, amendments, and forecasts in collaboration with the Executive Director and other staff, ensuring that budgetary implications are clearly understood.
- Coordinating with auditors during on-site visits.
- Supporting quarterly shareholder reporting and managing investment cash flows.
- Reviewing and overseeing all contracts related to business operations.
- Effectively managing all legal contracts.
- Ensuring compliance with all relevant regulations, codes, and standards as defined in the regulatory framework.
- Establishing, implementing, monitoring, and maintaining processes aimed at detecting, preventing, and addressing non-compliance with regulations, standards, and codes.
- Reviewing and updating the compliance framework, policies, and procedures to define the compliance management process.
- Creating and maintaining an up-to-date compliance register that outlines the company's compliance requirements and process owners.
- Conducting and updating supplier information and relevant background checks for all suppliers and debtors.
- Setting up new suppliers in the accounting and banking systems.
- Assisting in the preparation of mandatory administrative reports for tax authorities and regulators.
- Managing payroll processes accurately and timely, in close collaboration with the outsourced payroll administrator.
- Supporting the outsourced payroll administrator in managing all statutory deductions, EMP201s, and IRP5s.
- Overseeing staff leave tracking and assisting in maintaining office payroll records and employee reimbursements/claims payments as needed.
- Managing organizational insurance matters.
- Assisting with banking operations, including account setup and updating mandates/signatories.
- Providing support for stock logistics and payments as required.
- Reviewing and updating the Enterprise Risk Framework biennially for approval.
- Overseeing the Enterprise Risk Management process for the organization.
- Identifying and presenting emerging strategic risks for consideration by the Executive Director, Executive Committee, and Board.
- Reporting on the strategic risk register to the Board and updating them on relevant strategic risks along with the status of action plans.
- Reviewing the summary operational risk report for completeness and ensuring quality is suitable for presentation to the Audit and Risk Committee, reporting any delays or significant changes in risk ratings.
- Drafting a report on combined assurance within the organization and reviewing it for accuracy and completeness, presenting it to the Executive Committee and ensuring that each relevant Executive is aware of the findings before submission to the Audit and Risk Committee.
- Assisting the Executive Director in the development of Corporate Strategy and Annual Performance Plan.
- Reviewing the draft report on value creation as per the King IV Code, ensuring alignment of all quantitative and qualitative information.
- Receiving and evaluating information on Broad-Based Black Economic Empowerment (B-BBEE) initiatives.
- Monitoring quarterly progress towards annual B-BBEE score and recommending initiatives to enhance the score.
- Conducting performance appraisals against agreed objectives, consulting with employees on developmental goals, career paths, and short-term targets.
- Assessing the effectiveness of current training interventions through competency evaluations in the workplace.
- Ensuring timely compilation and finalization of Job Descriptions, Performance Agreements, and Performance Assessments for staff.
- Planning and managing all recruitment needs within the area of responsibility.
- Preparing performance reports and ensuring adequate supporting evidence is collected.
- Identifying instances of non-performance and developing strategies to enhance performance.