Job Description Financial Operations Manager - Woodmead
Job Title: Financial Operations Manager
Department: Finance
Reporting: Chief Financial Officer/ Managing Director
Job Summary
One of our clients, being a leader in the VAS/distribution of pre-paid products and transactional services has an exciting vacancy for a skilled Financial Operations Manager. The Financial Operations Manager reports to Chief Financial Officer/ Managing Director and will be responsible for the financial health and day-to-day financial operations of the company, producing financial reports and guiding senior executives in making sound business decisions in the long and short term.
Task and Responsibilities
- Monitor and manage the day-to-day financial operations within the company, such as the processing of debtors, creditors, bank accounts, fixed assets, reconciliations and other transactions.
- Oversee and develop financial department employees.
- Maintain and monitor the commission system to control margins over all products in line with supplier and customer agreements.
- Produce, analyze, and distribute monthly management and financial reports according to agreed timeframes for MM management and directors.
- Produce and analyze regular, detailed cash flow forecasts.
- Produce and analyze annual financial reports and statements to comply with the requirements of the South African legal framework and IFRS.
- Develop, track and monitor annual budgets and regular forecasts in collaboration with senior management.
- Provide insightful information and expectations to senior executives to aid in long-term and short-term decision making.
- Identify methods for minimizing financial risk and areas for potential improvement.
- Closely monitor overall profitability, with specific focus on maximizing product margins, cash investments and cost reduction initiatives.
- Liaise with bankers, suppliers and customers to maximize working capital management opportunities, in conjunction with senior management.
- Maintain current standing with all tax authorities and requirements, including the submission of payments and reports (i.e. SARS).
- Lead on operational tax planning, especially VAT related matters.
- Ensure compliance with all statutory requirements relating to financial control, financial management and accounting.
- Ensure fixed assets are properly managed.
- Ensure appropriate external audit arrangements are in place and manage the audit process.
- Ensure that all balance sheet reconciliations are produced on an accurate and timely basis to include bank reconciliations, debtors, creditors, stock accounts, etc.
- Ensure implementation and adherence to finance policies, procedures and systems across all teams.
- Stay up to date with technological advances and accounting and other software to be used for financial purposes.
- Ensure that the accounting software is enhanced and automated to improve operational efficiencies.
- Implement any changes in reporting requirements and develop systems to adhere to reporting requirements.
- Undertake any other specific duties as required by the Chief Financial Officer/ Managing Director.
Required Knowledge, Skills and Abilities
- Qualified accountant (B.Comm degree). Candidates with relevant experience may also be considered
- 4 - 5 years of experience in a similar finance role
- Experience in the preparation and finalisation of accounts in accordance with current South African regulations
- Knowledge of strategic and financial planning including activity costing, benchmarking, business intelligence and KPIs
- Experience in budget preparation and reporting
- Experience in goods and services procurement processes
- Highly numerate and able to analyse information and interpret financial data to produce reports which can be understood by non-financial colleagues
- Excellent communication skills, both verbal and written
- Computer literate; fully conversant with the current uses of information technology in the workplace and uses IT as a management tool
- Ability to work at both a detailed and strategic level e.g. making payments and producing annual financial delivery plans, etc.
- Leadership skills and experience; employee management
- Superior attention to detail
- Organisational and planning skills
- Research, critical thinking and problem-solving skills
- Integrity
- Honesty
Remuneration