Financial Manager

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

SUMMARY :

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

POSITION INFO :

1. Grade 12
2. BCom / Business Administration Degree
3. CIMA
4. 5 years in a similar role

Financial Strategy :

• Participate in organisational strategy management from a financial management perspective.

General Financial Management :

• Provide financial analysis and support to management and all operational areas of the business.

Internal Control :

• Compile and update the risk register.
• Manage and comply with internal controls.

Budgets :

• Prepare operational budgets.

Forecasts :

• Review of all forecasts.

Financial Pack :

• Review the monthly Business Unit financial pack and identify variances.
• Prepare financial reports and returns (Monthly BU / Plant Financial Pack).

Flash Results :

• Review the automotive division flash results and action variances.
• Compile the BU / Plant flash results and analyse variances.

CAPEX :

• Analyse the Divisional capex reports and review the BU / Plant capex reports.

Weekly Sales Report :

• Review weekly sales reports.

General :

• Participate and provide relevant information for board meetings and Divisional monthly or bi-monthly meetings.
• Comply with IFRS.

General Ledger :

• Review balance sheet account reconciliations.
• Review and authorise Journal entries.

Audits and year-end processes :

• Prepare and plan year-end statutory audit (external and internal) in line with the consolidated audit plan.
• Prepare and review year-end reporting accounting and Tax Packs.
• Follow up and action audit findings.
• Prepare and update corp tax schedules.

Banking :

• Manage systems (users, passwords, profiles, etc.).
• Approve all new creditors (local and foreign).
• Release weekly bank transfers (creditors and wages).

Cash Management :

• Source financing to meet budgeted cash-flow requirements.
• Monitor daily cash positions and cash flows to ensure settlement and maximise performance.
• Manage cash flow and working capital.

Forex :

• Manage Forex risk.
• Manage the purchase Foreign Exchange Contracts (FEC's).
• Review Forex Forecasts.
• Authorise foreign payments.

Costing :

• Make recommendations for the financial recovery on distressed parts.
• Calculate and propose price increases (per Customer for Sales Dept).
• Negotiate and agree price increases with major customers.
• Manage costing department ensuring BOM accuracy and related variances (MUV, PPV’s, stock variances).

CAPEX :

• Perform project appraisals and valuations.
• Review CAPEX spend.

Fixed Assets :

• Reassess useful life and residual value of fixed assets.

Statutory Returns :

• Ensure compliance with the general tax provisions.
• Review statutory returns (VAT, PAYE, SDL, UIF, WCA).
• Prepare and submit Government Incentive Applications.

Stock Control :

• Manage stock holdings.

Insurance :

• Prepare and submit Insurance Declarations.
• File claims for losses.

Creditors :

• Review and authorise Creditors payments.

Debtors :

• Calculate the repayment ability and assess the credit risk of potential clients.
• Manage Credit Risk (insure Debtors Book, etc.).
• Review tooling account.

Continuous Improvement :

• To be the custodian of the CI (Continuous Improvement) database and CI Standards of accounting.

Reporting :

• Analyse and interpret reports and statistical data.
• Prepare financial reports and returns.
• Generate information and reports for internal and external use.