Financial Manager: Financial Accounting

About the Company

African Bank Ltd is committed to providing exceptional financial services while fostering a culture of integrity, innovation, and inclusivity.

About the Role

The role involves managing the accounting and financial reporting of African Bank Limited and SBSA JV, implementing internal controls, and ensuring compliance.

Responsibilities

• Manage the general accounting function of African Bank Ltd to enable production of monthly management accounts and annual statutory accounts.
• Prepare monthly management accounts accurately and measure performance against budget.
• Review the translation and preparation of the consolidated ABL management pack.
• Prepare commentary on the monthly African Bank management pack for sign off by GM: Finance.
• Address and prepare written commentary on issues raised by GM: Finance.
• Analyse monthly variances against the budget for ABL as a whole as well as the Finance department.
• Prepare board packs and commentary for African Bank board meetings and Group Audit Committee meetings.
• Prepare the statutory annual financial statements for African Bank Ltd for publication on the ABIL website.
• Facilitate the annual African Bank audit conducted by the external auditors.
• Submit outputs to direct manager for final approval.
• Implement internal controls and manage the compliance thereof.
• Prepare the budget instructions for distribution to the relevant cost centre owners and divisional executives.
• Prepare the budget template for collation of the opex budget for the Group.
• Collate Group opex budget information received, in pre-defined format.
• Model the advances book in order to determine the income stream linked to the advances growth as well as the current advances base.
• Prepare the annual African Bank Ltd budget for incorporation into the group consolidated budget for sign off by GM: Finance and CFO.
• Check, approve and sign-off on supporting schedules of IT14.
• Prepare Annual Tax Return (IT14) of ABL for sign-off by Public Officer before submission to SARS.
• Prepare Tax pack that accompanies IT14 for sign-off by Public Officer before submission to SARS.
• Prepare annual deferred tax reconciliation to final annual tax computation.
• Follow-up and feedback to GM: Finance on any tax related queries from SARS.
• Determine and manage the submission of provisional tax payments to SARS.
• Complete the IT56 in case of dividend declarations.
• Calculate the VAT apportionment ratio in accordance with the directive received from SARS.
• Review ABL VAT 201 and approve submission.
• Prepare and submit annual tax returns (IT14) and their supporting schedules for GEMS, CIP and CI.
• Review VAT 201 and approve submission.
• Review monthly management accounts for accuracy and completeness and performance against budget.
• Manage the translation and preparation of the management pack for consolidation purposes.
• Prepare input report for inclusion in pack at Management and Steering committee meetings.
• Represent Finance division at Management and Steering committee meetings.
• Prepare and manage annual budget for approval by Steering committee.
• Facilitate the annual SBSA JV audit conducted by the external auditors.
• Manage the preparation of statutory annual financial statements for SBSA JV.
• Reconcile JV tax liability to the ABL tax receivable.
• Manage the download of SARB categorisation of advances for the purposes of calculating the impairment provisions of ABL and the SBSA JV.
• Calculate the monthly suspension of interest to be debited against the ABL and SBSA JV income statements.
• Calculate the amount of the monthly GL write-off of advances and manage implementation in the Exactus debtors management system in the following month (ML).
• Calculate the amount of the monthly rehabilitation of advances and manage implementation in the Exactus debtors management system in the following month (RB).
• Calculate the amount of the monthly amortisation of administration fees.
• Prepare relevant journals for posting.
• Manage preparation and submission of MFRC / NCR quarterly and annual statistical returns and resolution of related queries.
• Facilitate the annual short-term insurance renewal for sign-off by the CFO.
• Manage the short-term insurance claims process.
• Manage the administration of the fixed assets and depreciation programme.
• Review credit card financials before incorporation into the African Bank management accounts.
• Review Exactus trial balance before incorporation into the African Bank management accounts.
• Manage the preparation of statutory annual financial statements for GEMS, CI and CIP.
• Manage and develop subordinates.
• Performance management.
• Training and development.
• Employee relations.
• Manage people efficiencies through leave management.
• Take appropriate disciplinary measures for any insubordination by staff.
• Select and apply most appropriate tools to achieve function delivery.
• Create and maintain productive relationships with internal and external clients by providing advice and assistance.
• Create understanding of the 'real' versus 'perceived' need through, experience and expertise while complying with company policies, legislation and regulations.
• Keep the client informed about progress through written communication, telephone communications and/or face to face meetings.
• Build a positive image by exceeding client expectations at all times.
• Treat internal and external customers fairly at all times.

Qualifications

• Minimum Education: CA (SA)
• Minimum Experience: 7 years post articles experience in relevant banking environment in a managerial position.

Required Skills

• Accounting skills
• Analytical Skills
• Knowledge and understanding of Income Tax Act, IFRS accounting standards, Vat Act, Bank Act, Labour Legislation
• MS Office skills
• People management
• Problem solving skills
• Relationship Management
• Report writing skills

Preferred Skills

• Previous SLA driven environment will be ideal
• Exposure to ERP implementation
• Trial Balance and General Ledger experience