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Senior Finance Manager & Business Partner – Retail

Senior Finance Manager & Business Partner – Retail

AlexforbesJohannesburg, Gauteng, South Africa
1 day ago
Job description

Purpose

Senior Finance Manager & Business Partner – Retail

This position is responsible for management of the finance function of the Individual Consulting (IC) Division within the Retail Business. The key responsibilities include assisting the Retail CFO and IC Executive in finance operational execution and strategy enablement, financial planning and analysis, financial management, statutory reporting; maintaining governance and internal controls; taxation, capital, and treasury management.

Key Performance Area

Financial planning and analysis

  • Assist the Retail CFO and IC Executive Head in formulating and updating the retail business strategy.
  • Implement, report and analyse key performance metrics pertaining to the strategy.
  • Responsible for compilation of the annual, bottom-up, budget for the IC business which includes revenue modeling, payroll budget, controllable business expenses, asset build-up, new business flows and margins.
  • Prepare slides for the annual budget presentation with analysis.
  • Responsible for updating the rolling forecast of both Income Statement and Balance Sheet based on actual performance, considering both internal and external drivers.
  • Preparation of a quarterly forecast report and analysis.
  • Translating sensitivities from budget and forecast assumptions into tangible business drivers in monthly reporting.
  • Prepare the monthly financial reports for Individual Consulting and for Retail with key metrics including the effect of market performance.
  • Investigate the variance of actual financial and non-financial performance to budget and drive discussions with the key stakeholders to remediate performance insightful analysis and corrective action

Financial and Statutory reporting

  • Ensure accurate, complete and timely reporting, for financial and regulatory periodically.
  • Maintain accurate key performance metrices across all retail business units.
  • Responsible for the preparation of Board and Committee reports
  • Responsible for reporting on the IC scorecard and driving the appropriate discussions with IC Manco to achieve targets.
  • Responsible for adoption and treatment of new IFRS standards with the assistance of the Group IFRS technical helpdesk
  • Responsible for the delivery of all audits within the IC pillar in line with reporting timelines communicated.
  • Ensure the accurate and timely preparation and audit sign-off of annual financial statements in line with the group accounting policies and deadlines communicated.
  • Responsible for drafting input on business performance for external reporting contained within the group’s results announcement.

    • Cost Management

  • Monitor the operating and capital expenditure to budget and forecast.
  • Drive productivity and efficiency in operating and capital expenditure with the intended outcome of improved return on shareholder capital invested.
  • Management of all projects, related capitalisation and future depreciation costs with an overarching view of improving return on capital invested in the business unit.
  • Provide early warning indicators for potential overspend to both the Retail CFO and IC Executive
  • Implement measures to curtail potential overspend

    • Business finance operations

  • Target setting for front office staff - annually.
  • Incentive calculation - quarterly review and modelling scenarios (annually) for the annual criteria review
  • Ad -hoc financial modelling to inform business decisions.
  • Lost assets detailed analysis
  • KPI analysis to inform strategy implementation and sensitivity.
  • Ongoing and ad-hoc reporting preparation for the IC Executive
  • Process improvement on financial reporting

    • Risk, Governance, and Financial Control

  • Responsible for maintaining sound financial governance within the IC business. This includes adhering to the delegation of authorities, group policies and regulatory requirements.
  • Assist the Retail Head of Risk, Retail CFO and IC Executive to monitor and measure risks within the business and implement mitigating controls, as the first line of defense
  • Implement sound financial controls to ensure accurate and complete financial reporting and company assets safeguarding.
  • Ensure the maintenance of up-to-date process documents and risk and control matrix. Ensure appropriate controls are implemented and monitored to mitigate risk to an acceptable level.
  • Responsible for oversight of both internal and external audits conducted within the area.
  • Drive timely remediation of all audit findings identified.
  • Provide input into the Group risk ERM and reporting frameworks.
  • Ensure the maintenance of financial hygiene of the balance sheet relating the Retail entities.
  • Input into quarterly risk management reports.
  • Performing sensitivity calculations to inform business of possible future outcomes (ad-hoc and for ORSA) and ensuring these are embedded within the business as part of risk management. Develop financial models for purposes of analysis the sensitivity of revenue.

    • Taxation

  • Assist Group taxation with the calculation, reporting and settlement of tax dues for the IC statutory businesses.
  • Responsible for developing and driving strategies to maintain and enhance tax efficiencies for IC statutory businesses.
  • Responsible for the accurate maintenance of forecast and sign off provisional taxes for IC statutory businesses.

    • Capital management

  • Maintain appropriate levels of Capital in line with the regulatory requirements.
  • Collaborate with Group Capital to optimize the usage of capital within the prescribed limits and enhance the return on capital employed in the business and the overall return to shareholders.
  • Distribute dividends to shareholders in line with the retail dividend policy.

    • Treasury Management

  • Maintain adequate liquidity levels to meet obligations and satisfy minimum regulatory requirements.
  • Responsible, with the assistance of group treasury, for the accurate and timely submission of FAIS reporting to the regulator.

    • Experience Required

  • Total of 8 years experiences through the various value chain of Finance and Business. At least 3 Years middle management experience.

    • Qualifications

  • Postgraduate Diploma Finance
  • Matric

    • Professional Status

  • CA(SA)

    • #J-18808-Ljbffr

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