Financial Manager Pinetown

Job Description

• Responsible for the full finance function.
• Responsible over the finance administration and receptionist.
• IT is outsourced and will report with a dotted line to Finance Manager.
• Responsible for contracts outside the scope of regular supply chain.
• Design, implement and maintain the financial reporting system, which includes but is not limited to Accounts payable & receivable and Cash Management.
• Manage investment activities, oversee investment opportunities, and ensure that a cash management system is in place.
• Preparation of monthly management accounts.
• Preparation of Annual budgets and presentation thereof.
• Cash flow presentation and review of cash balances.
• Assist the company accountants in the preparation and publishing of the annual financials, provisional tax and assessed tax as well as audits.
• Month end and year end processing on Syspro.
• Syspro super user and management of permission and report writing.
• Calculation of KPI’s for key personal linked to bonus incentive.
• Ensure Debtors collections are up to date.
• Creditors recons and payments are correct and processed timeously.
• Negotiate and review supplier for change in credit terms and early settlement discounts.
• Analysis on cost and cost savings.
• Analysis and approval on purchases and stock.
• Overview of all stock and provisions and write down, review of all stock on hand and management.
• Ensure working capital is managed effectively and ensure ratios are in line.
• Ensure funding lines are in place with banks.
• Requests for funding with various financial institutions and negotiate best rates.
• Review of all contracts and benchmark all contracts and renegotiate where necessary.
• Investigate into management accounts and cost analysis, material and labour and any other variances.
• Analyze job cards with variances and implement corrective measures are in place to ensure variances are minimized.
• Minimize cost and wastage.
• Forecast forex requirements and ensure forex is taken out at a favorable rate.
• Approval of purchases and purchase orders.
• Reporting to banks and shareholders.
• Ensure loan covenants are met.
• Any tender submission to be completed.
• Review and negotiate commercial terms on new contracts with customers.
• Approval new account openings and terms.
• Review all terms with suppliers and agreements.
• Review WIP and variances, inventory and out of date stock.
• Review and authorize purchase requisitions.
• Review GL accounts for anomalies monthly.
• Actively involved in stock takes and ensure integrity of stock system.
• Investigate obsolete stock and run material review board.
• Scrutinize all WIP, variance and inventory balances monthly.
• Review job costing on large jobs with variances.
• Review Syspro cost updates and anomalies.
• Maintain the asset register to insurance book and ensure insurance is updated for any changes.
• Ensure FAR is up to date and complete.
• Review payroll before payment.
• Approve and check the payment of salaries and wages.
• Ensure all business processes mitigate risk and are operating effectively.
• Establish and maintain relevant controls and feedback systems to monitor financial stability within the company.
• Maintain and manage the company’s financial accounting system structure, security, and upgrades.
• Keep up to date with and communicate changes in financial regulations and legislation to subordinates.
• Ensure that internal control measures are maintained through regular reconciliation of GL and bank accounts, journal entry reviews and auditing of computer systems data.
• Maintain all accounting records, ledgers, revenues, operating expenses, and insurance records.
• Establish procedures for control of assets, records, loan collateral, and securities to ensure safekeeping as well as correctness and accuracy of balance sheet.
• Monitor and forecast monthly financial results and analyse financial information to support business decisions.
• Prepare operational and risk reports for management analysis and to allow for pre-emptive planning.
• Advise and support department heads in making financially responsible, accountable, and justifiable business decisions.
• Monitor compliance with company policies and procedures, implementing a continuous improvement process to enhance operational efficiencies.
• Ensure that root causes of problems are identified and rectified.
• Training needs are identified to enhance departmental performance and productivity.
• Ensuring timeous submission of accounting records.
• Ensure that high financial reporting standards are maintained.
• Strategic financial planning including capital / loan structure within the organization.
• Forecasting short- and long-term expenditure.
• Monitoring profit margins by customer and departments.
• Advise the HOD pertaining to matters that have strategic and financial implications.
• Manage capital expenditure requests.
• Effective financial management / administration by collaborating in the development of training programmes or by providing direct training in financial matters to officials in the department.
• Work towards the achievement of the organization's 3- and 5-year strategy and annual operation plan.

KPI

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