Durbanville: Financial Manager

Job Description 1. Position Details Job Title Financial Manager Line Manager (title) Chief Financial Officer (CFO) 2. Purpose To prepare financial reports, perform account reconciliations, prepare tax returns and calculations, review management accounts, prepare IFRS consolidations, assist with audit preparations, prepare annual financial statements (consolidated and standalone) for multiple entities and perform other accounting/finance duties as assigned. 3. Responsibilities Strategic Leadership Support new business partnerships and product developments with expert financial and tax advice. Systems and Processes Responsible for the design of effective systems, practices, and best practices policies to ensure exceptional quality of output from the finance department. Keep abreast of international trends in line with the above to continue to evolve these areas of the department. Develop and maintain expert knowledge of the transactional and financial workings within the LMS system. Budget/Forecast Develop annual, interim and project budgets and forecasts (where applicable) and financial requirement plans. Facilitate the process of sub-budgets to be prepared by other department executives, and the incorporation into the master budget. Monitoring and Reporting Stay abreast of IFRS changes that are applicable/may affect the financial reporting of the Company. Recommend, propose, or initiate changes where applicable. Responsible for the preparation of complete and accurate annual, interim, and monthly reporting activities on the financial performance of the business. This is to include insightful analysis as to deviations from budgets or identifications of financial risk. Monitor financial performance by measuring and analysing results. Initiate corrective actions where required/applicable in collaboration with other department executives. Manage financial performance through understanding the key business levers, building models, providing insight, reporting and financial projections for the business. Report financial status by developing forecasts, reporting results, analysing variances, and developing improvements. Audit responsibilities Responsible for the preparation of complete and accurate AFS. Responsible for the coordination and activities of independent auditors and actuaries ensuring IFRS compliance and successful audit process. Daily financial operational management Ensure sufficient review of work performed by junior staff. Liaise with third parties as and when necessary to solve issues. Responsible for fixed asset management. Financial Modelling Cash flow management Manage treasury and monitor banking activities of the company. Ensure adequate cash flow forecasting is prepared and monitored to meet the company’s operational needs as well as loan book cashflow. Risk Management Assess and identify risks to the company relating to finance function, treasury, funding covenants and related, and ensuring they are reported on, monitored, complied with and minimized. Ensure effective mitigation measures are put in place. Keep abreast of all regulatory requirements as applicable. Ensure business insurance plans are in place and being maintained. Tax management Ensure compliance with all the statutory tax and reporting requirements. Stay abreast of all tax legislation and regulations. Develop and update financial practices to ensure alignment with latest tax legislative and regulatory requirements. Prepare tax projections and tax planning relating to provisional, annual, and ad hoc tax obligations. People Management Provide visible and clear leadership to finance promoting a culture of high performance and quality. Provide visible and clear leadership to the wider team, drive company’s culture and behaviours across the business. Maintain a department organizational structure and capacity (knowledge and skill) sufficient to meet all strategies and operational targets. Mentor direct reports and other team members to cultivate skills. Reward and recognise behaviour that supports the company culture. In conjunction with exco, develop performance management policies and procedures. Ad hoc Preparation of board packs and other shareholder/stakeholder reporting on an ad hoc basis Actively manage, refinance and maintain debt finance facilities in conjunction with the CFO, ensuring a diverse blend of liquidity facilities to support the medium and lon