Financial Manager

Financial Manager

Bryanston, Johannesburg   |   Permanent   |   On-site

ABOUT THE ROLE

Thrive People & Strategy is recruiting on behalf of an established investment group based in Bryanston, Johannesburg.

We are looking for a Financial Manager to own and report on all financial and operational accounting across the group. You will lead the accounting team, safeguard a sound financial governance environment, and work closely with other managers to strengthen the group’s accounting systems, controls, compliance and procedures.

This is a hands-on leadership role for a qualified accounting professional with strong accounting and tax knowledge, sharp critical thinking, and the ability to implement financial systems and controls that meet international standards and local regulations. You will oversee the production of financial information for stakeholder reporting and for decision-making.

REPORTING STRUCTURE

Reports to the Chief Financial Officer. Leads a team of three direct reports.

KEY PERFORMANCE AREAS

Team Leadership & Development

• Review, update and maintain the approved finance structure.
• Ensure the finance team meets its agreed goals and objectives, with clear plans, key performance areas and objectives.
• Hold regular team meetings to communicate objectives, reporting challenges and developments in IFRS standards and tax legislation.
• Conduct quarterly individual performance assessments against agreed KPAs.
• Ensure direct reports complete annual personal development plans, and develop succession plans to identify and grow top talent.

 Operational Finance & Financial Accounting

• Lead the group’s financial functions, maintaining a sound financial governance environment and providing business support on financial transactions in line with internal and external regulations (e.g. IFRS for SMEs and SARS requirements).
• Oversee transaction recording and reporting, ensuring efficient, timely and accurate monthly, quarterly, interim and annual financial reports.
• Develop and update financial policies and internal controls in line with business operations, and submit them to management for review and approval.
• Design, implement and maintain effective internal control systems and business processes.
• Develop and monitor a finance risk register.

 Budgeting, Forecasting & Cost Management

• Direct business units, operations and the corporate office in preparing budgets in line with group guidelines.
• Monitor actual spend against budget and forecast, report on variances, manage deviations and recommend corrective action.
• Ensure expenditure is well managed and allocated budgets are not exceeded without proper approval.
• Provide accurate quarterly forecasts to business units and the corporate office.

 Cash Flow & Working Capital

• Prepare and review weekly and bi-monthly cash flow requirements to improve cash flow management.
• Review the balance sheet monthly to assess working capital requirements and ensure a favourable position.
• Report and analyse working capital performance against budget.

 Financial Reporting & Annual Financial Statements

• Review supplier payment packs for accuracy and ensure an approved authorisation process is followed.
• Review the payroll file for accuracy and completeness and ensure timely submission to Treasury.
• Perform monthly general ledger trial balance analysis, ensuring proper accounting treatment of transactions and valid, accurate accruals.
• Review and sign off general ledger reconciliations, ensuring reconciling items are cleared timely.
• Review intercompany balance confirmations and ensure discrepancies are commented on.
• Review inventory and ensure accurate processing of adjustments.
• Review the fixed asset register for accuracy, existence and completeness, including write-offs, physical verification and safeguarding of assets.
• Review external and shareholder loan amortisation schedules, ensuring interest is processed and balances are accurate.
• Review and approve month-end and year-end journal entries with supporting schedules.
• Prepare monthly management accounts comparing actuals against budget and forecast.
• Present monthly and annual financial and operational performance reports, including forecasts and scenario analysis, to inform key business decisions.
• Assess going concern, solvency and liquidity quarterly.
• Own and direct the preparation of annual financial statements in accordance with IFRS for SMEs, within set timelines.

 Statutory Audits

• In conjunction with management, recommend the appointment and remuneration of external auditors.
• Engage external auditors on audit scope and risks, ensuring audit evidence is available before the audit commences.
• Co-ordinate the group audit process and ensure timely completion.
• Ensure all internal and external audit findings are resolved promptly, with no repeat findings.

 Tax & Regulatory Compliance

• Ensure compliance with all relevant internal and external financial policies, legislation and regulations.
• Prepare and review SARS regulatory submissions (Income Tax, VAT, PAYE) for accuracy, compliance and completeness.
• Review monthly reconciliation between the tax and book asset registers.
• Review all tax computations (provisional tax, PAYE, VAT) and ensure timely submission to SARS.
• Prepare and review tax schedules and note disclosures at year-end, and perform deferred tax calculations where applicable.
• Manage the outsourced provider for tax computations and provisional taxes, and clear SARS audit queries timeously.
• Identify connected-party transactions with potential tax exposure for transfer pricing policy updates.
• Monitor and ensure group compliance with CIPC regulations and Department of Labour COIDA requirements.

MINIMUM REQUIREMENTS

Qualifications

• Registered CIMA / CA(SA) or in pursuit of such registration.
• BCom Honours / CTA / PGDA in Accounting or a similar qualification.

Experience

• Minimum 5 years’ financial management experience.
• Proven experience managing a team.
• In-depth knowledge of corporate finance and accounting principles, laws and best practices.
• Solid knowledge of financial analysis and forecasting.

Systems

• Proficient in MS Office and financial management software tools (SAGE or similar beneficial).

BEHAVIOURAL COMPETENCIES

• Strong leadership and the ability to develop a team.
• Excellent organisational skills.
• Outstanding communication and interpersonal ability.
• Critical thinking and sound judgement.
• Team-oriented, with high standards of accuracy and integrity.

Thrive People & Strategy is an equal opportunity recruiter. All appointments will be made in line with the client’s employment equity commitments and applicable South African legislation.