Financial Manager

Platinum Placements; Durban; On-site; ZAR 450 000 - 600 000; Full time

Job summary

A leading company in financial services is seeking a Financial Manager to oversee financial and administrative functions. The role involves strategic financial management, budgeting, compliance, and risk management, requiring a BCom degree and CIMA qualification. The ideal candidate will have at least 5 years of relevant experience and a strong analytical background.

Qualifications

• 5 years experience in a similar role.
• BCom / Business Administration Degree required.
• CIMA qualification is essential.

Responsibilities

• Participate in financial strategy management.
• Provide financial analysis and support to management.
• Prepare operational budgets and forecasts.

Skills

Financial Analysis

Risk Management

Budgeting

Forecasting

Compliance

Education

BCom / Business Administration Degree

CIMA

Job description

To manage the financial and administrative functions for the Business Unit in line with Divisional objectives.

Position Info:

• Grade: 12
• Qualifications: BCom / Business Administration Degree, CIMA
• Experience: 5 years in a similar role

Key Responsibilities:

1. Financial Strategy: Participate in organisational strategy management from a financial management perspective.
2. General Financial Management: Provide financial analysis and support to management and all operational areas of the business.
3. Internal Control: Compile and update the risk register; Manage and comply with internal controls.
4. Budgets: Prepare operational budgets.
5. Forecasts: Review all forecasts.
6. Financial Pack: Review the monthly Business Unit financial pack and identify variances; Prepare financial reports and returns.
7. Flash Results: Review automotive division flash results and action variances; Compile BU/Plant flash results and analyze variances.
8. CAPEX: Analyze divisional CAPEX reports; Review BU/Plant CAPEX reports.
9. Weekly Sales Report: Review weekly sales reports.
10. General: Participate in and provide relevant information for board and divisional meetings; Ensure IFRS compliance.
11. General Ledger: Review balance sheet reconciliations; Review and authorize journal entries.
12. Audits and Year-end Processes: Prepare and plan for external and internal audits; Prepare year-end reporting and tax packs; Follow up on audit findings; Update corporate tax schedules.
13. Banking: Manage banking systems; Approve new creditors; Release weekly bank transfers.
14. Cash Management: Source financing; Monitor cash positions and flows; Manage working capital.
15. Forex: Manage forex risk and contracts; Review forecasts; Authorize payments.
16. Costing: Make recommendations for financial recovery; Calculate and propose price increases; Negotiate with major customers; Manage costing ensuring BOM accuracy.
17. Fixed Assets: Reassess useful life and residual values.
18. Statutory Returns: Ensure compliance with tax provisions; Review VAT, PAYE, SDL, UIF, WCA returns; Prepare government incentive applications.
19. Stock Control: Manage stock holdings.
20. Insurance: Prepare declarations; File claims.
21. Creditors and Debtors: Review and authorize payments; Assess credit risk; Manage credit insurance; Review tooling accounts.
22. Continuous Improvement: Maintain CI database and standards.
23. Reporting: Analyze reports; Prepare financial reports; Generate reports for internal and external use.