Financial Manager (Business Unit)

Abantu Staffing Solutions; Durban; On-site; ZAR 600,000 - 800,000; Full time

Job summary

A leading company in Durban is seeking a Financial Manager to oversee financial and administrative functions in line with divisional objectives. The role requires strong financial analysis skills, compliance with IFRS, and experience in managing budgets and financial reporting. Ideal candidates will hold a BCom degree and have over 5 years in a similar position, with CIMA being highly advantageous.

Qualifications

• 5+ years in a similar role.
• Participate in organisational strategy management.
• Manage and comply with internal controls.

Responsibilities

• Manage financial and administrative functions for the Business Unit.
• Prepare operational budgets and financial reports.
• Review and authorize journal entries.

Skills

Financial Analysis

Cash Management

Risk Management

Costing

Compliance with IFRS

Education

BCom Degree in Business Administration

Matric / Grade 12

CIMA (Highly Advantageous)

Job description

• To manage the financial and administrative functions for the Business Unit in line with Divisional objectives. Reporting to : General Manager.

Minimum Requirements :

• Matric / Grade 12
• BCom Degre in Business Administration
• 5+ Years in a similar role
• CIMA (Highly Advantageous)
• Participate in organisational strategy management from a financial management perspective
• 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 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 :

• 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

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

Creditors :

• Review and authorise Creditors payments

Debtors :

• Calculate the repayment ability and assess the credit risk of potential clients
• Review tooling account
• 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

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Financial Manager • Durban, South Africa