Finance Manager

Inseta; Johannesburg; On-site; ZAR 600 000 - 800 000; Full time

Job summary

A prominent financial management authority in Johannesburg is seeking a skilled Financial Manager to lead financial strategy implementation and ensure compliance with accounting regulations. The ideal candidate will have a Bachelor’s degree in Financial Accounting and at least 5 years of management experience in financial management, specifically within the public sector. This role is essential for maintaining sound financial practices, managing reporting cycles, and engaging with stakeholders for optimal organisational performance.

Qualifications

• Minimum 5 years' proven experience in Financial Management and Accounting at management level.
• 5 years CaseWare experience.
• Public sector PFMA/GRAP knowledge.

Responsibilities

• Implement financial management strategy and policies.
• Manage statutory compliance through submissions.
• Develop long-term financial plans and budgets.

Skills

Computer literacy (especially Excel)

Trend analysis and advisory ability

Strong financial skills

Ability to interpret data

Education

NQF 7 Bachelor's Degree in Financial Accounting or related field

BCom Honours/Post Graduate Diploma in Financial Accounting

Tools

CaseWare

Job description

PURPOSE OF THE JOB

To implement the INSETA's financial strategy and operations by providing oversight and guidance in the execution of financial activities, by managing working capital, assets and liabilities, managing expenditure and revenue which comply with internal and external legislative and operational compliance requirements.

This is done by :

Maintaining and implementing effective and efficient management control systems to ensure sound financial management within the INSETA.

Overseeing the execution of the full financial accounting and reporting cycle at the INSETA.

Ensuring compliance with the organisational accounting systems, policies and procedures.

Ensuring prudent financial management including financial planning, budgeting and forecasting for both operational and capital expenditure needs of INSETA.

Maintaining complete and proper records of income, expenditure, and liabilities and ensuring the accuracy and integrity of financial information.

Managing INSETA investments and ensuring accurate, complete and valid assets management, accounting and reconciliations.

Overseeing payroll processes and transactions recording, delivering an effective management accounting service, and managing the treasury function.

Exposure to risk management including implementation of risk mitigation plans within the Finance Division.

Reporting financial performance and position to the relevant internal and external governance structures.

Performing all tasks related to the purpose of this role, as required and delegated.

KEY PERFORMANCE AREAS

Outputs are aligned with the following areas and percentages :

Financial strategy implementation and monitoring– 10%

Implement the financial management strategy / long term financial plan to ensure the effective execution and continuity of full financial management services in INSETA and formulate and implement the consolidated finance functional operational plan, aligned to the roadmap.

Formulate financial management policies based on the financial strategy and conduct regular reviews to ensure adherence to best practice and certify compliance, including regular reviews of financial management delegations of authority.

Assist in measuring and reviewing performance and achievement of INSETA financial strategic and operational objectives (including causes of deviation).

Support the Chief Financial Officer in developing strategies to expand organisational revenue through new and diverse funding sources.

Financial Management– 50%

General

Develop or review and implement accounting policies in line with legislative guidelines and the relevant financial reporting framework.

Manage statutory compliance through submission of all periodic returns and reports to DHET & National Treasury by the legislated dates.

Develop or review and implement financial policies, and manage the implementation and regular review of financial SOPs and processes.

Maintain internal control systems and processes to safeguard financial assets and implement funding allocation of programmes as per the financial strategy / long term financial plan.

Contribute to financial process improvements and cost saving opportunities.

Prepare interim and annual financial statements; daily, weekly, and monthly review of accounting records; oversee document management; develop and optimise financial processes; automate financial transactions where possible.

Manage internal controls deficiencies identified by assurance providers and oversee related audits.

Expenditure and Payables management

Review expenditure transactions for validity and accuracy; design processes to ensure timely payments; classify expenditures; approve supplier payments; monitor supplier reconciliations and aged payables; manage payroll expenditures and statutory payments.

Lead account reconciliations, journal and GL processing, and monthly / annual system closures; manage revenue collection and payroll-related activities.

Revenue, receivables and cash management– 0%

Manage collection of all money due, reconcile and report revenue; allocate, reconcile and bank revenue; review weekly bank reconciliations; forecast cashflow.

Assets management

Monitor INSETA investments in line with prescripts and policies; identify excess resources; analyse investment options and report on performance; make recommendations for optimal investment management.

Ensure asset and inventory objectives are met; apply GRAP in asset accounting; regular fixed asset verification and inventory counts; maintain asset reconciliations.

Manage asset disposals and payroll-related asset considerations.

Budgeting– 0%

Develop the long term financial plan and medium-term budgets, including cash flow forecasts for operational and capital expenditure; manage annual budgeting process and alignment to strategy; prepare original and revised budgets; report on budget utilization with commentary.

Financial Reporting and audit support– 0%

Oversee month-end closures, reconciliations and statutory returns; analyze expenditure and prepare financial reports; coordinate interim and annual financial statements according to GRAP and PFMA; ensure timely statutory submissions and audit support; report on levy income and all revenue; coordinate audit processes and address findings.

RISK, REGULATORY AND COMPLIANCE MANAGEMENT– 5%

Support the CFO in establishing and maintaining financial management, accounting, control systems.

Advise on compliance and governance; enforce regulatory frameworks and internal policies; partner with HR on disciplinary steps as needed.

Identify operational risks; design controls; implement corrective actions for audit findings.

REPORTING– 20%

Implement reporting practices in line with GRAP and PFMA; support analysis of financial results; prepare monthly management accounts and reporting to governance committees.

Submit statutory and ad hoc reports to National Treasury, DHET and other stakeholders; prepare annual financial statements and notes; manage audit processes and financial statements for the annual report.

STAKEHOLDER RELATIONSHIP MANAGEMENT– 5%

Maintain effective relationships with internal and external stakeholders; support proposals for strategic partnerships; resolve stakeholder queries; build INSETA's credibility and ensure service delivery satisfaction; provide periodic SOP training.

PEOPLE MANAGEMENT– 10%

Lead and develop staff within applicable labour and employment laws; promote INSETA values; ensure staffing and performance contracts; monitor and develop a high-performance culture; provide coaching and feedback; ensure access to resources and cross-divisional collaboration.

Plan and manage finance staff activity to meet reporting requirements; conduct regular team and one-on-one meetings; maintain records of meetings and action plans; manage disciplinary and grievance procedures; implement PDPs and career plans; oversee succession and development plans.

REQUIRED QUALIFICATIONS AND EXPERIENCE

Qualifications

Minimum Requirement :

Grade 12 (or equivalent) and : NQF 7 Bachelor's Degree in Financial Accounting or related field (or equivalent).

Preferred Requirement :

BCom Honours / Post Graduate Diploma in Financial Accounting or equivalent plus articles; professional registration with an appropriate accounting body (e.g. CIMA, SAICA, SAIPA, IRBA).

Experience

Minimum Requirement :

Minimum 5 years' proven experience in Financial Management and Accounting at management level; 5 years CaseWare experience; public sector PFMA / GRAP knowledge.

Preferred Requirement :

Minimum 8+ years in financial management and accounting at management level; public sector PFMA / GRAP knowledge.

REQUIRED KNOWLEDGE AND SKILLS

Knowledge

Minimum Requirement : Knowledge and understanding of the PFMA and NT regulations; knowledge of the regulatory frameworks (PFMA, Treasury Regulations, etc.).

Skills and competencies

Computer literacy (especially Excel)

Knowledge of relevant legislation within the SETA environment

Trend analysis and advisory ability

Strong financial skills and good communication

Ability to interpret data and convert to management information

Problem solving skills

The Insurance Sector Education and Authority (INSETA) is an equal opportunity employer committed to Employment Equity and diversity with opportunities afforded in line with the approved Employment Equity Plan.

Preference will be afforded to candidates from under-represented designated groups and people living with disabilities.

INSETA reserves the right not to make an appointment, and correspondence will be limited to shortlisted candidates only.

All appointments are subject to vetting processes.

If you meet the above requirements and wish to apply, send your cv and qualifications via the INSETA website.

No late applications will be accepted.

Closing date :

09 December