Finance Manager

Outsourced CFO; Cape Town; On-site; ZAR 600,000 - 900,000; Full time

Job summary

A premium retail client in Cape Town is looking for a Financial Manager to transition from a Senior Accountant role. The ideal candidate will have strong financial management experience, be detail-oriented, and help cultivate a positive team culture. Key responsibilities include managing financial planning, reporting, compliance, and internal controls. A bachelor's degree in Accounting or Finance is required, along with at least 2-3 years in financial management.

Responsibilities

• Manage financial planning, budgeting, and forecasting processes.
• Oversee financial reporting and analysis to present to stakeholders.
• Direct cash flow management and ensure liquidity for operations.
• Ensure compliance with tax legislation and oversee tax submissions.
• Develop internal controls and monitor financial risks.

Skills

Financial Modeling

Forecasting

Financial Analysis

Budgeting

Corporate Finance

Education

Bachelor’s Degree in Accounting or Finance

Tools

Xero

Pastel

QuickBooks

Job description

We are recruiting on behalf of our client in the premium retail industry. They are seeking a Financial Manager who is both technically skilled and values-driven. If you are a Senior Accountant ready to step into a Finance Manager role this is your opportunity.

The ideal candidate is detail-orientated, deadline-driven and operates with integrity. Strong emotional intelligence and a genuine people-first leadership approach are essential. You will help nurture team growth and contribute to a positive harmonious culture. Our client values honesty, innovation and fresh thinking that improves how things are done. Experience negotiating with suppliers, banks and landlords is highly beneficial.

Overview

Role: Financial Manager (transitioning from Senior Accountant) in a premium retail environment. Location: Cape Town, Pinelands. On-site, full-time with travel to various stores.

Key Responsibilities

• Financial Planning, Budgeting and Forecasting
  • Develop and implement financial strategies aligned with organizational goals.
  • Lead the annual budgeting process, collaborating with department heads to establish realistic and achievable financial targets.
  • Conduct regular variance analysis of actual results against budget and forecast, providing insights and recommendations for corrective action.
  • Prepare financial forecasts (e.g. cash flow, income statement, balance sheet) to guide decision-making and anticipate future financial needs.
  • Perform financial modelling and scenario analysis to assess potential outcomes of various business decisions.
• Financial Reporting and Analysis
  • Oversee the preparation of accurate and timely monthly, quarterly and annual financial statements (Income Statement, Balance Sheet, Cash Flow Statement) in accordance with relevant accounting standards (e.g. IFRS).
  • Provide insightful financial analysis to senior management highlighting trends, risks and opportunities.
  • Prepare detailed management reports including performance dashboards and key financial metrics.
  • Present financial results and analysis to the board of directors, shareholders or other stakeholders as required.
  • Manage the year-end audit process, liaising with external auditors to ensure timely completion and compliance.
• Treasury and Cash Flow Management
  • Manage the organization’s cash flow effectively, ensuring sufficient liquidity for operational needs while optimizing returns on excess cash.
  • Develop and implement cash management policies and procedures.
  • Oversee banking relationships and negotiate favorable terms.
  • Manage foreign currency exposure through hedging strategies or other risk mitigation techniques.
  • Monitor and manage accounts receivable and accounts payable to optimize working capital.
  • Oversee foreign payments ensuring compliance with SARB exchange control regulations including the correct application of BoP codes and obtaining SARS TCS PIN letters when required.
• Procurement and Inventory Cost Management
  • Manage and reconcile the GRIR clearing account, addressing discrepancies arising from foreign exchange rate differences between the time goods are received and when the corresponding invoices are received from overseas suppliers. Ensure these differences are accurately identified, recorded (e.g. as foreign exchange gains/losses) and cleared in the financial system.
  • Work closely with the procurement team to optimize supplier payments and terms.
• Payroll Management and SARS Compliance
  • Oversee the entire payroll function including conducting accurate and timely salary payments (pay run) for all employees.
  • Ensure strict compliance with all SARS regulations for PAYE, UIF and SDL.
  • Manage all year-end payroll procedures including the accurate preparation and submission of EMP501 reconciliations to SARS and the timely generation and distribution of IRP5 / IT3(a) certificates to employees, ensuring all data complies with SARS requirements.
  • Stay abreast of changes in payroll legislation and SARS requirements, implementing necessary adjustments to payroll processes.
  • Ensure accurate and complete payroll record-keeping.
• Tax Compliance and Optimization
  • Ensure timely and accurate submission of all statutory returns (e.g. VAT, Corporate Income Tax, PAYE / UIF / SDL) to SARS.
  • Develop and implement tax planning strategies to optimize the organization’s tax position within legal frameworks.
  • Liaise with external tax advisors and SARS on tax-related matters, queries and audits.
  • Ensure adherence to all relevant tax legislation and regulations.
• Internal Controls and Risk Management
  • Design, implement and monitor robust internal financial controls to safeguard company assets and ensure the integrity of financial data.
  • Identify and assess financial risks (e.g. liquidity risk, credit risk, market risk, operational risk) and develop mitigation strategies.
  • Ensure compliance with all relevant financial regulations and corporate governance standards.
  • Manage and monitor insurance policies to protect against financial losses.
• Systems and Process Improvement
  • Evaluate and recommend improvements to financial systems and processes to enhance efficiency, accuracy and control.
  • Oversee the implementation and optimization of financial software and tools.
  • Drive initiatives for automation and digitization within the finance function.

Experience

• At least 2-3 years in a senior accounting or financial management role.
• Experience managing financial operations in a retail or consumer goods environment including inventory costing, procurement processes and reconciliations (e.g. GRIR clearing accounts).
• Prior experience in a retail, FMCG or consumer-focused industry.
• Experience working with foreign suppliers and multi-currency environments.
• Experience with Financial Systems such as Xero, Pastel, POS or similar systems.

Requirements

• Location: Cape Town, Pinelands. On-site full-time and travel to various stores.
• Qualification: Bachelor’s Degree in Accounting, Finance or a related field (e.g. BCom).

Skills and Characteristics

• Demonstrates honesty, trustworthiness and discretion in managing financial and sensitive operational data.
• Ability to perform effectively under pressure, especially during month-end and audit periods.
• Comfortable working across multiple regions and handling various currencies.
• Strong financial modeling, forecasting and scenario analysis skills to guide strategic decisions.

Key Skills

Cognos, Forecasting, Hyperion, QuickBooks, Accounting, Corporate Finance, Financial Analysis, Financial Modeling, Budgeting, Financial Management, Financial Planning

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