Financial Controller – Sandton

PURPOSE STATEMENT

 

The Financial Controller is responsible for the financial management of the company and its subsidiaries, joint ventures and associates, which includes the integrity of the company’s actual financial information and accounting records and asset control.

 

Responsible for managing of the actual results as required by EMEA and Global Finance.  Oversee the preparation of the group’s actual results for submission by the FP & A team.

 

Responsible for the financial compliance within the company and system enhancements/automation.

 

MAIN RESPONSIBILITIES

Financial Management

  • Responsible for compliance with all statutes and other applicable external regulations
  • Responsible for the design and effectiveness of the internal control environment, including ensuring compliance with internal controls, financial policies and procedures
  • Engage with the UK Accounting team to ensure that all accounting entries are properly recorded for US GAAP purposes and that any risks in account balances (for example, likely impairments of asset balances) are understood in terms of their impact on the company’s financial results
  • Responsible for the integrity of the general ledger, including the review and approval of reconciliations in compliance with the Global Account Reconciliation policy
  • Other adhoc tasks as requested by senior management

 

Subsidiary and JV accounting

  • Oversee the full accounting and reporting functions for all entities
  • Oversee the reporting and consolidation of the joint venture operation known as Vacation Management Services

Accounting Services and Business Operations, including billings

  • Manage the daily outputs and deliverables of the operations accounting staff, ensuring that Finance support is provided to the business within agreed turnaround times
  • Monitor and manage the processing of rental creditors for cost of sales , processing of supplier invoices, GRN system relating to acquired (pay back guaranteed and pay if use) inventory
  • Manage the billings of all revenue lines in compliance with applicable agreements, ensuring the accuracy and completeness of income
  • Manage application of the company’s revenue recognition policies in line with both IFRS and US GAAP

 

System Administrator functions

  • Act as the super-user for Oracle, assisting users with all queries, closing sub ledgers etc
  • Leverage technologies and expertise: seek process improvement to enable redeployment of resources. Responsible for the identification of systems development requirements, integration, and future changes to operating systems, specifically DEXT (internal reservations system) and Oracle

 

People management

  • Oversee the management of the team, including work allocation and co-ordination of activities
  • Manage staff performance against agreed KPA’s and defined goals
  • Responsible for ongoing staff training, motivation and development in order to improve AES (Associate Engagement Survey) ratings and maintain staff morale

Asset and Risk Management

  • Management of the company’s treasury function, including administration of cash and current and call accounts
  • Improve B2B and B2C billing and collections processes. Ensure proper management of ageing and collections targets to reduce the bad debt provision requirements
  • Management of the accounting for fixed assets
  • Manage hedging risks in respect of all foreign exchange transactions

 

Sarbanes Oxley (SOX) / ICFR:

  • Oversee the duties and function of the Compliance resource in order to ensure the appropriate design of the control environment for all processes that are either in Deloitte scope or are in EMEA scope, as well as any out of scope processes
  • Responsible for the detailed Fraud Risk Assessment for the company on a bi-annual basis. Ensure that the SOX design documentation addresses all risks identified in the FRA
  • Review business and legal contracts, in order to ensure that all contracts are in compliance with established terms and conditions and approved pricing

 

Payroll and employee remuneration

  • Responsible for overseeing the payroll function, managing the Payroll and Staff Benefits Officer and ensuring payroll compliance in terms of audit and statutory requirements
  • Review and approve the monthly total payroll: approve audit trails of payroll changes and ensure that changes are supported by source documentation

Taxation and Dividends

Manage the group’s statutory taxation obligations, encompassing:

  • Review and approval of all IT14 and supplementary declarations for corporate income tax
  • Review and approval of provisional tax calculations
  • Responsible for the timeous approval and release of all statutory payments of VAT, company income tax and payroll liabilities via the Standard Bank’s Business Online system, ensuring that no penalties or interest are incurred due to late payment
  • Approval of disclosures made to EMEA Tax in terms of annual tax packs and quarterly exposure reporting etc. Ensure that the EMEA and Global Tax departments are notified of all tax audits and risks and that professional tax advice and assistance is sought where necessary
  • Manage the group’s annual dividend cycle, determining the quantum of the dividend and seeking approval for the declaration or receipt of any proposed dividend. Manage statutory and tax reporting requirements related to the annual dividend cycle

 

Audit Responsibilities

  • Responsible for the annual statutory audit/review, including providing information and reports as requested
  • Overall responsibility for the preparation and finalisation of the annual financial statements of (company and group), together with all subsidiaries and joint ventures
  • Other adhoc tasks as requested by senior management

 

KNOWLEDGE & SKILLS

 

  • Comprehensive knowledge of internal financial controls and other relevant statutory legislation, direct and indirect taxes and payroll principles and practices
  • Thorough understanding of accounting principles and practices, IFRS and US GAAP
  • Comprehensive knowledge of the Oracle general ledger application system
  • Comprehensive Excel, Word and e-mail skills

 

QUALIFICATIONS & EXPERIENCE

Minimum: Accounting degree plus articles.  At least 5 years post article experience in an accounting and financial internal control environment.

 

KEY COMPETENCIES

  • Customer Obsession

Establish and maintain effective relationships to cultivate strategic customer relationships. Ensure that the customer perspective is the driving force behind all value added business activities

 

  • Decision Velocity

Be driven by our decision velocity to get great work accomplished and achieve the right results

  • Transparency

Convey an image and behave in a manner that is open and transparent

  • Empowerment

Be empowered and accountable around the work we do

DIRECT REPORTS

  • Financial and Operational Compliance Officer
  • Finance Accountant (plus team of 3)
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