Financial Controller

JOB PROFILE:

FINANCIAL CONTROLLER (SOUTH AFRICA)

ABOUT KARRI

Karri is one of South Africa's most highly rated Apps. We are a rapidly growing tech business, and an authorised Financial Services Provider, building innovative and awesome payments tech for the education paradigm.

The Karri mobile app allows parents to pay their school quickly and easily for their child's events and other educational expenses. Karri helps schools and teachers by streamlining the cash collection process, eliminating time-consuming and costly collection methods, and improving safety. Karri is also rolling out new youth card products which allow kids to make cashless payments on and off the school campus while giving parents control and oversight of their spend in the Karri App.

JOB DESCRIPTION

The Finance team, led by the Finance Director, is an integral part of the company, owning a broad scope of functions. These are Finance Operations, Accounting & Audit, Financial Planning & Analysis, Regulatory Compliance, Administration and driving Financial Performance through strategy facilitation.

Karri is looking for an exceptional mid-level Financial Controller to join the finance team, comprising the Finance Manager, Administrative Assistant and Finance Director. The vacancy is the result of the finance team's Operations Officer progressing to a more senior role in the business. The Financial Controller role is a critical and multi-faceted one, ensuring the integrity of Karri's financial statements, helping streamline accounting processes, supporting budgeting and forecasting, supporting financial operations as well as audits and tax filings.

Reporting to the Finance Manager, and with a dotted line into the Finance Director, the Financial Controller must have sound finance operations, accounting, financial reporting and analytical skills and experience, as well as a strong work ethic. The ideal candidate is also someone who is disciplined, reliable, has heightened attention to detail, enjoys working under pressure and thrives in an ever-changing environment.

Your responsibilities will include:

Financial Reporting and Analysis

1. Support the Finance Manager in preparing monthly, annual and ad hoc financial reports (income statements, balance sheets, cash flow statements).
2. Support annual financial statement preparation.
3. Maintain accurate Xero accounting records. The FC will own the integrity of the financial records in Xero across Karri's team departments and product lines. Includes daily Xero reconciliation and bank feed management.
4. Support the FM in daily position reporting.
5. Invoicing and maintenance in Xero. Includes managing Xero contacts, debit order mandates and customer correspondence.
6. Become a subject matter expert on PowerBI, building and producing KPI reports and analysis. Support the Finance Manager in ensuring the integrity of data in PowerBI.

FinOps

1. Payment processing: vet and load payments for school customer payments, account payables, payroll and statutory/tax payments. This includes validation of new beneficiaries.
2. Process and manage customer invoices, receipts and statements across products (Collections, Platform Fees and Card products).
3. Partner with the FM in managing creditors and aged receivables to optimise cash flow.
4. Treasury.
   1. Assist the FM in managing cash.
   2. Own client money reconciliation for the Collections and Card business units.
5. Become well versed in Mastercard costings and systems for the Karri Card business unit, tracking and reconciling billings closely, and ensuring the accuracy of costs applied to the P&L.

1. Exceptions Management
   1. Vet and process user refunds, liaising closely with Karri's Customer Support team to complete.
   2. Track and manage Unallocated payments.
   3. Log and remediate chargebacks and disputes, as well as funds recalls where these arise. Work closely with the Operations Specialist to manage and escalate these exceptions.
   4. Vet and escalate any rogue charges.
2. Onboarding controls. Work closely with the Operations team to ensure the correct processes are followed by the sales and account management team relating to finance operations such as contract documentation (including pricing), B2B onboarding requirements, invoices and debit order management.
3. Fulfil any School and Karri card balance corporate actions.

Accounting & Audit Functions

1. Oversee day-to-day accounting functions, including accounts payable, accounts receivable, payroll, and general ledger.
2. Ensure compliance with International Financial Reporting Standards (IFRS).
3. Manage GL allocations & reconciliations.
4. Payroll processing. Manage the end to end process from inputs to Xero journals.
   1. Set up new starters in Karri's payroll systems.
   2. Vet and load payroll inputs, including travel and expense claims.
   3. Run commission calculation. Support the FM in the automation of commission calculations.
   4. Load payment batch and manage Xero journals.
5. VAT & EMP201 submissions.
6. Support audits. Coordinate with external auditors to facilitate the audit process and ensure compliance with accounting standards.

Budgeting and Forecasting

1. Support the FM in the preparation of the company's annual budget, working closely with other departments to collect data, set financial targets, and allocate resources.
2. Update forecasts monthly and ad hoc to reflect actual performance and any changes in business conditions or assumptions.

Regulatory Compliance

1. Support Karri's Finance Director in FICA and FSCA submissions, as required.
2. Manage compliance portal and associated documentation requirements.
3. Support risk profiling processes.

General

1. Manage company assets. Manage laptop procurement and inventory. Manage Karri's fixed asset register, including depreciation runs.
2. Manage Insurance. Maintain Karri's insurance policy renewal terms and contents.

QUALIFICATIONS, SKILLS & EXPERIENCE REQUIRED

1. Bachelor's degree in Accounting and/or Finance, CIMA or CA (SA).
2. 3 - 5 years' post qualified experience in a similar role is essential. Experience in payments technology is advantageous.
3. At least 2 years of experience using Xero is essential.
4. Experience using systems such as SimplePay, PowerBI and Syft is advantageous.
5. High Proficiency in Microsoft Office, in particular Excel.
6. Proven experience in financial planning and analysis, budgeting, forecasting, and financial reporting.
7. Strong understanding of accounting principles and financial modelling.
8. Experience around partnering with Product and Engineering teams to design and automate finance workflows would be ideal.
9. Can legally live and work in South Africa.

Bonus points:

1. Experience in payments technology.
2. Knowledge of FICA and FAIS legislation / Reg Exam completion.

KEY COMPETENCIES & ATTRIBUTES

1. Outcome-oriented, as opposed to task-oriented.
2. Ability to design and refine accounting, reporting and reconciliation processes.
3. Team-player mindset is a must. The team is greater than the sum of its parts.
4. A tenacious self-starter with a strong work ethic; works and communicates proactively.
5. Heightened sense of ownership and accountability.
6. Trustworthy and able to exercise discretion with sensitive information.
7. Problem-solving and analytical ability. High level of attention to detail.
8. Adaptable to a rapidly-changing environment. Cool under pressure.
9. Strong on execution with light supervision. A candidate that is proactive and self-motivated will do well at Karri.
10. Able to establish strong and harmonious working relationships with other members of the finance team and other teams in the business.
11. Strong time management and organisational skills.
12. Excellent communication skills, able to deliver messages in writing and verbally to all levels of seniority with the appropriate tone and level of detail.

WHY JOIN KARRI

Karri is a mission-driven company, striving for financial inclusion and youth financial literacy through accessible digital financial services for schools and parents. This role presents a unique opportunity to work with cutting-edge technologies and solutions, offering plentiful opportunities for professional growth and advancement as well as opportunities to learn about the latest developments in finance and technology.

Karri fosters a collaborative and entrepreneurial culture, where employees are encouraged to share ideas and work together to create solutions. You'll work with a talented and diverse team of professionals that is revolutionising the way financial services are delivered. You'll contribute to creating solutions that have a tangible impact on customers' lives.

Karri's environment is dynamic and fast-paced with a continual stream of exciting and rewarding opportunities and challenges.

The role is predominantly office-based in Karri's Rondebosch offices, with the flexibility to work from home periodically.