Durban: Divisional Financial Director: Ca (Sa) posted by Gerald Lilian Executive Appointments (GLEA)

Date	2024-06-08
Job Title	Divisional Financial Director: Ca (Sa)
Employer	Gerald Lilian Executive Appointments (GLEA) More Information
Salary	0
Category	Professions
Location	Kwazulu Natal / Durban

Job Summary

Based Durban. This Executive position has become available in a medium sized very profitable and successful market leader. This Division forms part of a larger multi-billion Rand Group (based in Gauteng) and is in a niche industry that not only manufactures their specialised chemicals as the core business, but also imports specialty chemicals as well. In addition, there is a highly sophisticated quality system as well as R & D Laboratories. Their customer base is broad and includes both South African and International Corporates and exports to Europe, Australia, America and Africa and the MD secured an exclusive distribution agreement. The factory (5 000 sq. metres) is divided into 15 separate and stand-alone operations and this is then fed into a mixing plant where separate products are produced. Reporting to the MD, the candidate will be his 2IC and sounding board for all financial & costing needs and business information for the Company. The Financial Team is very small consisting of Financial Accountant and 2 x Accounting Clerks. As the procurement function forms part of the responsibility of this candidate, there is also a Buyer reporting in to the incumbent. Therefore, the position is very hands-on as well as highly transactional and the candidate will also be involved in all aspects of the business including the factory. Key performance areas, inter alia, include: Manage, supervise and direct the Financial Staff and Buyer. On a daily basis, approve all invoices, manage and do credit control (& produce credit reports monthly), analyse all expenditure, authorise payments, handle daily financial and costing queries both from the factory and financial & administration team, maintenance of job costings, keep records of cost changes for materials, etc. Oversee the IT system which is SysPro as well as problem solve, do daily backups, troubleshoot where possible, noting that there is an external IT Consultant available at all times. On a weekly basis, run the MRP system which is a module of SysPro and which is directly linked to the Sales Forecast. The relevant raw materials and other requirements are then given to the Buyer to execute and the FD will be involved in all the necessary overseas procurement from foreign Suppliers. There is also a weekly Cashflow Statement, Debtors Age Analyses, Credit Application Approvals, monitoring of Payments, etc. On a monthly basis, various requirements include capturing assets & updating Fixed Assets Register including depreciation calculations, approve Capex applications, 3 Month Cashflow Forecast, Monthly Reporting on the Holding Companys specialised template and this information is then used for Management purposes and analysed in detail. Reports using Excel and Vena (similar to Hyperion) include: Contribution Analyses per ton divided into Product Category, EBIT, Business Summary highlighting Salient Ratios, various simulations, etc. A monthly Acutal Costing system is used noting that there are extensive imports of raw materials (Company works on a Bill of Materials system) & calculate FIFO costs of these imported materials, manage shipment & shipment costs. Furthermore, Work-in-Progress per product calculations are prepared on a regular basis and the business uses a Job Costing System. Manage and authorise Capex, oversee quarterly Stocktakes and analyse & investigate material variances. Annual Budget, regular Forecasts, Year-End Audit and ongoing interaction with the MD to discuss all relevant issues which includes financial, costing, IT, strategy and business overall. Assess financial risk, maintain & implement internal controls to mitigate risk. Also, manage exchange rate risk (Company uses CFC Accounts which needs to be controlled & is foreign dominated) and insurance requirements.

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Requirements:

CA (SA), must be from a manufacturing background and with strong understanding of both finance and costing (both manufacturing and importing) as well as forex, shipping & imports, CFC Accounts, inventory management and fixed assets. As procurement falls under the candidates responsibility as well as product costing and IT, it is therefore expected that the candidate will have experience in these areas. Needless to say, the successful candidate must be comfortable to multi-task in the various areas of the business and be intricately involved in the factory from both a financial and costing point-of-view. It must be emphasised that the position is very transactional and hands-on, therefore the candidate must have attention to detail, be methodical, organised and have a sound knowledge of ERP systems or SysPro. It is expected that the candidate will have sound knowledge of IFRS, bearing in mind that the Management Reports are consolidated at the Groups Johannesburg Corporate Head Office and then sent to the locally based Holding Company for further consolidation.
Divisional Financial Director: Ca (Sa) position available in Kwazulu-Natal, Durban. This job position was posted by Gerald Lilian Executive Appointments (GLEA). The job has been posted as a premium ad on 2024-06-08 at 13:41:24 in the Professions category

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