South Africa: Chief Financial Officer posted by Tower Group

Our client, a leader in the Manufacturing industry is seeking a highly experience Chief Financial Officer to join their team based in Durban Hammersdale.

MINIMUM REQUIREMENTS

• 10 years post qualification financial management experience within a manufacturing environment;
• Registered CA (SA);
• Tax, and financial regulatory and reporting requirements (IFRS);
• Strong costing and management accounting experience;
• Strong SYSPRO experience essential;
• Excellent communication, reporting and interpersonal skills, verbal and written;
• Ability to work well by oneself as well as in a team;
• Strong ability to solve problems and suggesting re-engineering methodologies to increase efficiency;
• Hands on;
• Cautious and diligent approach to daily tasks;
• Capability to effectively multitask;
• Ability to work well under pressure;
• Well organized with strong attention to detail;
• Honesty and integrity.

MAIN JOB FUNCTIONS

• Providing leadership, direction and management of the finance and accounting team
• Providing finance-related strategic recommendations to the CEO / executive management team
• Ensuring the accuracy, validity and completeness of management and financial accounting for the Group.
• Analysis, budgeting, reporting, and ensuring that all accounting, and regulatory requirements and deadlines are met and all records are maintained.
• Management of the IT function
• Management of the procurement function

Financial Management: Manage the company’s financial operations. Ensure that the financial transactions, policies, and procedures meet the organization’s short and long-term business objectives and are conducted in accordance with regulations, accounting principles, and standards.

• Oversee cash flow management, liquidity, and banking relationships to ensure adequate funding for operations and strategic investments.
• Ensure effective management of working capital
• Manage and support finance, debtors, creditors, and cost accounting teams.
• Prepare and monitor weekly cash flows.
• Ensure standard costing and the related product costing model, bill of material are updated as necessary.
• Provide insight to sales department to determine selling price and price increase.
• Provide strategic financial insight and analytics to the group to facilitate responsible decision making.
• Keep up to date with IFRS standards and all accounting concept, practices, and procedures.
• Lead the development of effective financial policies, procedures, and guidelines for Group.
• Overseeing commercial contracts with suppliers, retailers, agents to ensure that they are not commercially onerous
• Review procurement and contracts prior to settlement.
• Formulate and implement required controls.
• Ensure effective management of financial systems and records to ensure that Group finances are run effectively and financial data can be supplied accurately and timeously
• Ensure accuracy of the ERP system and that products are costed correctly.
• Ensure correct calculation and allocation of overheads.
• Ensure procedure manuals are adequately prepared and maintained regularly and are at the required standard.
• Identify and alert the CEO of any irregularity, lack of compliance, lack of adherence to process and procedures, weakness in internal controls, and any actual or potential concerns arising out of the financial and operational matters of the business.
• Provide oversight on procurement and IT departments.
• Liaise with auditors, bankers, and insurers
• Strategic Planning: Develop and implement the financial strategy of the company. This includes long-term financial planning and forecasting, risk management, and investment strategies.
• Act as a strategic business partner to the CEO and COO, providing insightful analysis and recommendations, driving business growth, support in setting business objectives, defining necessary actions/initiatives, implementing strategies, and ensuring successful execution of business plans.
• Monitor and drive financial performance against business objectives and commitments with investors. Implement action plans to improve financial performance where necessary, detailing risks and opportunities for achievement. Proactively capitalize on opportunities and mitigate risks through strategic financial leadership.
• Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction and establishing functional objectives in line with organizational objectives.
• Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; and implementing change.
• Develops organization prospects by studying economic trends and revenue opportunities; projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and accumulating capital to fund expansion.
• Develops financial strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans.
• Supports the regular review of the company strategy and ensures finance solutions and approaches focus on delivery of an environment where the strategy can thrive
• Responsible for effective management of shareholder relations and subsequent reporting requirements.

Financial Reporting: Oversee the preparation and communication of monthly and annual financial statements. Ensure the timely reporting of key financial data and updates to the CEO, Board of Directors, and other key stakeholders.

• Prepare financial reports including financial statements, strategic plans, budgets and financial forecast up to consolidation level.
• Analyze actual result against budget and interpret variances
• Oversee and manage the budget monitoring process including the production of monthly and quarterly financial and performance reports and provide recommendations and advice to address significant variances.
• Oversee the Preparation of management accounts.
• Provide quarterly reports for submission to the Board.

Compliance: Ensure legal and regulatory compliance regarding all financial functions. This includes tax planning and compliance with tax regulations.

• Implement and monitor compliance with all financial and accounting standards (IFRS and PFMA), procurement (PPPFA), CIPC and tax requirements.
• Oversee and manage the supply chain management processes and procedures to ensure compliance with the relevant legislation.

Leadership: Rebuild, strengthen and lead a high-performing finance team, fostering a culture of collaboration and accountability. Direct the Finance and accounting team and ensure their ongoing professional development and training. Participate in key decisions as a member of the executive management team.