Finance Manager

Our client is looking to hire a dynamic and hard-working FM to join their small team.

The Finance manager has overall accountability for the finance function. They should manage the finance function and organisational funds in such a manner as to maximize return on investment while minimizing risk, and while also ensuring that an adequate control structure is in place over the organisational spend and utilisation of funds. Financial analysis, cost accounting, pricing and deal mandate support, budgeting and forecasting, cost optimisation programmes, operational performance reviews, monthly reporting as well as ownership of the annual audit all form part of the role. The function will also provide financial oversight and management of any associated international businesses by virtue of a shared service function.

Basic Function:

  • Financial leadership to the organisation
  • The Finance Manager will analyse every day financial activities and subsequently provide advice and guidance to management on future financial plans
  • The goal is to enable the company’s leaders to make sound business decisions and meet the company’s objectives

Management:

  • Maintain a documented system of accounting policies and procedures
  • Manage outsourced functions and providers

General Responsibilities:

  • Overall accountability for Finance function and team
  • Maintaining the financial health of the organisation
  • Analyse costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans
  • Develop trends and projections for the firm’s finances
  • Set goals and objectives, and design a framework for these to be met
  • External audit
  • Correspond with various other departments, discussing company plans and agreeing on future paths to be taken
  • Management of company trade finance funding
  • Issue purchase orders in accordance with the company’s delegation of authority

Financial Record Keeping:
Ownership of all financial record keeping in both financial reporting packages (XERO) as well as stock management systems (DEAR & AS1)

  • Management of all manual journal entries (incl sign off from Group CFO)
  • Raw materials receipt & capture (incl. price variances)
  • Reconciling retail debtors payments
  • Stock replenishment transport approvals
  • Monthly stock balancing across owned and outsourced third party warehouses.

Funds Management:
Weekly cash flow forecasts modelling both sales inflows, capital inflows, trade finance exposures and payables.

  • Fortnightly reporting to trade finance partner of stock and debtors book details and management of cashflow requirements relative to facility.
  • Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
  • Explore the use of hedging to mitigate financial risks related to foreign exchange positions as well as on the interest rates on the company’s borrowings (if applicable)
  • Maintain banking relationships
  • Assist in determining the company’s proper capital structure
  • Arrange for equity and debt financing
  • Daily sweeping and investment of surplus funds

Budgeting and Forecasting:

  • Manage the preparation of the company’s annual budget and 3-yr plan from timetable planning through preparation to reporting.
  • Assist management in the formulation of its overall strategic direction

Monthly Financial Reporting:

  • Ownership of monthly reporting calendar
  • Responsible for month-end, interim-end and year-end close for assigned functional areas
  • Delivery of monthly financial reporting pack to management including commentary obtained from various functions
  • Variance analysis of key financial ratios with narrative of key variances from both budget and prior year
  • Gross Margin Analysis
  • Monthly analysis of cost of goods sold and operational expenses against prior year and budget, providing explanations and business solutions to help mitigate the risks
  • Interpret the company’s financial results and recommend improvement opportunities
  • Submission of management reporting packs to relevant stakeholders
  • Monthly detailed volume reporting (sell in volumes) and support of sales function for “sell out” dashboard reporting

Pricing management:

  • Maintain company value chains across all SKU’s, channels and customer groups
  • Assist in the determination of product pricing in relation to features offered and competitor pricing
  • Assist in evaluation of deal pricing (sell in deals, promotional deals, SALLYs etc)
  • Loading of deals onto customer portals (e.g. PnP SALLYs)

Receivables management:

  • Maintain relationship with external credit guarantee company
  • Oversee the extension of credit to customers
  • Weekly tracking and reporting of debtors aging, including credit limits, highlighting risks
  • Ongoing debt collection management

Cost accounting:

  • Detailed price and usage variance analysis on all raw material purchases and third party production runs
  • Ownership of detailed BOM’s and standard costs
  • Engage in benchmarking studies to establish areas of potential operational improvement
  • Ongoing cost reduction analyses across all areas of the company, including value engineering on existing and future packs/products

Tax:

  • Review and manage all aspects relating to SARS including correspondence and submissions on e-filing as well as payments
  • Processing and submission of VAT returns
  • Monitor and chase refunds as required
  • Ensure compliance with all staff and payroll related tax payments
  • Annual tax computations

Other responsibilities:

  • Maintain a safe and clean work environment
  • Understand and follow company rules and regulations
  • Perform all other duties as assigned and required
  • Assist with ad hoc business projects
  • Monthly review of payroll and processing of journals in the general ledger
  • Liaise with HR with regards to outsourced payroll and other HR related matters
  • Partner with Operations and Marketing Team in determining financial impact due to product cost reductions, new product roll out, etc. and prepare periodic forecasts to update management on projected results
  • Identify, investigate, and analyse potential operational improvement. As appropriate, based on findings make proposal for operational changes (policy, procedures, processes, etc.)
  • Maintain digital repository of all trading terms and customer agreements
  • Review and maintain sufficient insurance cover across all key aspects of the business – including maintaining relationship with key insurance brokers
  • Create additional analyses and reports as requested by management
  • Support business with laptop/tablet/printer set up and minor IT profile maintenance issues
  • Overall fixed asset management/recording
  • Ownership of BBBEE status reporting and
  • CIPC reporting and compliance
  • Staff performance management and development

International Shared Service Centre

  • Provision of back office finance services to international affiliate companies
  • Management of third party back office service providers
  • Consistent reporting of global performance across all territories including South Africa

Key Attributes

  • CA (SA) or equivalent financial qualification
  • Minimum 3 – 5 years’ experience – with a manufacturing / FMCG background
  • Experience handling all aspects of finance, financial reporting and management
  • Strong leadership skills as the role is a key leader in the business
  • Advanced excel skills with the ability to quickly capture and manipulate data (incl using pivot tables)
  • Analytical with detailed focus but with the ability to think strategically to provide direction for management and the company
  • Work under pressure
  • Strong communication skills, both written and verbal, with the ability to convey complex information to a broad audience
  • Strong interpersonal skills with the ability to work independently and within a team environment
  • Well-organized and responsible with an aptitude in problem-solving
  • Prioritizing, time management and organizational skills
  • Enthusiastic team member with excellent people skills -ability to connect with and nurture relationships with clients, customers, colleagues, suppliers, and service providers
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