Randburg: Group Finance Manager posted by SignaGroup

• Manage the day-to-day activities of the finance department
• Continuously appraise and develop finance team members, processes and procedures
• Prepare monthly management accounts to agreed timescales, including balance sheet reconciliations and variance commentary
• Provide accurate and timely financial reporting (such as margin and departmental reporting
• Participation in budget review preparation and comparison with previous year’s performance and identify key areas of concern to allow accurate budget phasings
• Maintain and manage the Capex process
• Inform/assist with the standardization/centralisation of finance activities as and when required
• Ensure maintenance of accruals and prepayments schedules
• Review financial performance and report by exception.
• Preparation and submission of all Tax and SARS related returns for all applicable entities
• Responsible for company credit card management
• Ensure the financial systems are fit for purpose in consultation with the CFO,
• sustainable and that users have correct access rights
• Recommend and implement improved financial governance by ensuring the organisation’s policies are current and are being adhered to
• Design/recommend and facilitate appropriate annual budgeting process
• Prepare year-end accounts and liaise with external auditors and assist with the year-end audit
• Work with the CFO and relevant Executives on Finance initiatives and process improvements
• Support the implementation of new financial systems and ensure finance due diligence is appropriately conducted.
• To support a process of significant and complex organisational change as required
• The G-FM may be required to participate in, execute any other tasks which can reasonably be performed as requested by the Signa

 
 ACCOUNTING PROCESSES

 1. Oversee and review accounting processing of all group entities:

• Analyse processing and procedural requirements and recommend standard
• Ensure processing of all business transactions meets the requirements of the relevant selected accounting standards.
• Ensure suitable internal controls are in place                                                                                                                      
• Ensure all transactions are allocated in the detail and accuracy required to produce meaningful accurate and complete information for management and legislative requirements.
• Ensure accounting records are up to date, all group entity transactions are processed daily   
• Ensure all journals/bank transactions/debtors transactions/ creditor transactions and any other monthly transactions are processed as soon as possible after month end to ensure timely issuing of accurate management accounts.       
• Assess, identify and implement all necessary revenue recognitions principles and processes.

BANK PAYMENTS

2. Review all payment batches and release payment batches, under the agreed limits for all group entities:

• Check all payment batches on a daily basis as required and release if payments are authorised according to relevant mandates.
• Ensure that payment batches are done as effectively as possible and mitigate fraud risks as much as possible.
• Stipend batches to be paid before month end. Review batches and ensure all stipends are duly authorised and valid

 
MANAGEMENT ACCOUNTS

3.Preparation and review of monthly management accounts:

• Monthly management accounts to be prepared in agreed format and distributed by the 15th of the following month.
• Ensure management accounts provide up to date, relevant and accurate information that is suitable for decision making.

CASH FLOW MANAGEMENT

4. Cashflow management:

• Assess and manage cashflow needs of all entities by company practice.
• Excess funds are to be transferred to call accounts on a continuous basis to ensure interest income is maximised as much as possible.
• Arrange for financing when necessary.

SARS COMPLIANCE

5. SARS submissions and compliance

• Reconcile prepare and submit all entities VAT201 returns by the last working day of the relevant VAT submission month.
• Reconcile prepare and submit to all entities EMP201 returns by the 7th day of the month or the last business day before the 7th if on a weekend (previous month payroll).
• Calculate and estimate provisional tax for all Signa Group entities accurately and compliant within the allowable timeframes.
• Submit provisional IRP6 tax returns by 31 August (half year) and 28/29 February (year-end).
• Prepare accurate and compliant income tax calculations based on the AFS. IT returns must be submitted within 12 months of the company’s year-end.
• Submit dividend tax or any other relevant returns when applicable.
• Address and deal with any audits/verifications initiated by SARS
• Reconcile and submit EMP501 recons for half year (before 31 October) and full payroll term (before 31 May)
• Ensure tax compliance for all entities continuously.
• Handle all new Tax registrations or filing requirements, examples – New Vat/PAYE registrations, appointment of tax reps etc.…

ANNUAL FINANCIAL REPORTS AND AUDITS

6. Annual audits, financial statements and management accounts (IFRS for SME)

• Coordinate annual audits, independent reviews and compilation engagements of Annual financial statements. AFS to be prepared within 6 months after year end.
• Prepare official management accounts when necessary for financing or other purposes.

POLICIES AND PROCEDURES

7. Draft and Review Policies and procedures

• Review / maintain and develop financial policies and procedures that will ensure the accuracy/completeness/validity of all financial processes.
• Policies and procedures must also ensure compliance to relevant legislation and mitigate the risk of fraud and error.

 
COMPETENCIES & SKILLS

• Excellent interpersonal and communication skills
• Book-keeping and accounting Standards (IFRS + IFRS for SME’s) knowledge
• Excellent organisational skills, with experience of planning own workload to meet deadlines
• Experience of producing accurate and reliable work in a busy, pressurized environment
• Appreciation of the need for tact and diplomacy as appropriate
• Display absolute honesty and maintains unquestionable ethical standards
• Highly numerate and display expert abilities in general accounting bookkeeping practices
• Applies sound financial formats
• Bring about improvement and innovations to the processes to improve the effectiveness of the operation
• Uses factual information and logic in order to draw conclusions and make recommendations
•  Deals effectively with pressure, remains focused, optimistic and persistent even under adversity
• Completes tasks according to specified and agreed deadline

QUALIFICATIONS & EXPERIENCE

• Degree in Accounting
• Completed SAICA / CIMA/ ACCA/ ACA articles will be advantageous 
• Computer literacy (MS Office, preparing and producing spreadsheets/excel management accounts, bookkeeping software, Caseware)
• Advanced MS Excel/Google Sheets required
• Xero experience will be advantageous
• 5 – 10 years working experience in financial management
• Thorough working knowledge of Accounting practices and standards