Financial Manager Parktown, Johannesburg - iSource-Comm - South Africa

The client requires the services of a new Financial Manager who will replace the current Financial Manager who will be retiring soon. PRIMARY PURPOSE Responsible for the management and development and business analysis of the financial statements for the Council's Funds and oversee the management of the accounting team for the processing of financial transactions (payments, journals, bank reconciliations, receipts) and statutory returns as per accepted accounting practices and applicable legislation and regulations. KEY PERFORMANCE AREAS, DELIVERABLES & MEASURES 1. Management of the Team of Accounting Professionals / Clerks Deliverables: • Manage and create a conducive environment for highly motivated and productive staff for the Finance Team • Set with the Funds Administrator & Finance Executive and manage the achievement of the objectives for the Finance Team • Review performance of employees within the Finance Team in consultation with the Funds Administrator & Finance Executive • Review of the Finance Teams future needs and capabilities in consultation with the Funds Administrator & Finance Executive • Manage effective communication within the Finance Team • Shortlist candidates for vacancies and submit motivations to Funds Administrator and Finance Executive. Participate in interviews for shortlisted candidates in consultation with the Funds Administrator and Finance Executive • Plan and allocate workload among subordinates • Monitor performance of subordinates, verify and check work output in accordance with time frames • Prepare performance appraisals • Identify and motivate training interventions for subordinates • Provide mentorship and coaching to transfer skills and knowledge • Verify and co-approve leave and ensure sufficient staff resources are available • Responsible for the resolution of all staff related issues in the Finance department, including performance Key Performance Indicators: • Assist with the defining the roles and responsibilities for the Finance Team • Ensuring the required skilled and qualified competent staff are recruited and retained within the Finance Team • Implementation and Management of a Performance Management Process for the Finance Teams • Availability of staff • Motivated and skilled team • Compliance with HR policies and procedures 2. Budgeting: Deliverables: • Providing strategic financial guidance to executive management, to assist all departments in the development of their own budgets • Collaborate with other departments to ensure that financial goals are aligned with the overall goals and budget requirements of the Council • Investigating ways to improve budgeting efficiencies • Prepare draft budget for submission to EXCO • Analyse income and expense accounts to confirm accuracy • Change and substantiate assumptions used in new budget • Recalculate new budget based on actual figures of previous year Key Performance Indicators: • Provision of annual budgets and forecasts • Regular updates to senior management • Accuracy of expense accounts • Accuracy of calculations • Assumptions to be verified • Compliance to financial policies and procedures 3. Financial Reporting: Deliverables: • Prepare and analyse financial statements to identify deviations from actual to budget for submission to Council • Analyse and report on deviations to Financial Administrator • Prepare financial year end statement, analyse income and expenditure to identify any variances and engage with Funds Administrator on corrective action to take • Verify reconciliations and match to trial balance on a monthly and annual basis • Prepare and analyse monthly management accounts for submission to Funds Administrator and Finance Executive. Prepare and check audit files for submission to Funds Administrator and Finance Executive and external auditors • Attend monthly Council meetings to present monthly financial figures Present annual budget timeously to Exco and to Council in September • Providing insights into financial performance and identifying areas for improvement • Analysing financial reports and identifying opportunities to reduce costs • Provide strategic recommendations for identified financial challenges • Attend any additional meetings when required by Exco Key Performance Indicators: • Complete, accurate and timeous management accounts • Compliance to financial policies and procedures 4. General Ledger Management: Deliverables: • Management of the cash flow and ensuring that all financial transactions are recorded accurately and in compliance with relevant regulations and accounting standards • Check and verify all entries made into the financial system (cashbook, journals, purchase orders, invoicing) to confirm proper allocation, authorisation, numbers and documentation • Authorise entries onto the financial system and post to the general ledger and sub-ledgers • Resolve queries on the general ledger and trace errors back to the source • Encode the transactions to provide correct account number • Review debtors and creditors age analysis in respect of correctness, queries and adjustmentsF • Prepare monthly journals for processing and ensure that they are processed correctly • Review cashbook reconciliations to check balances back to ledger and bank statement and sign off for filing • Process monthly payment for e-tolls and verify with SANRAL for balances • Analyse cell phone, photocopying and fuel reports to identify consumption misuse and report therein. Ensure that all queries are resolved and all variances are explained • Authorise payments to service providers and relevant parties including YE payments processed on HYPHEN for HBF and PF • Ensure that financial systems are working properly including FNB Online, Pastel, Hyphen etc. • Conduct daily check on bank accounts to verify payments and ensure sufficient funds are available to facilitate other payments Key Performance Indicators: • Accurate and timeous GL • Completeness of GL • Discrepancies identified • Accurate and timeous reporting • Availability of funds • Compliance to financial policies and procedures • All payments completed • System problems reported timeously 5. Statutory Compliance Deliverables: • Complete and submit monthly returns for SARS on e-filing and process the payment • Submit salary bill and provide estimates for workmen's compensation to the Department of Labour • Prepare and submit VAT returns every month • Prepare and submit IT12 tax return following the external audit • Ensure that the Council is fully compliant with regards to SARS and other regulatory authorities Key Performance Indicators: • Complete, accurate and timeous submissions 6. Fixed Assets Maintenance Deliverables: • Oversee the maintenance of the fixed asset register to ensure additions are captured and calculations are correct and posted into the general ledger • Review the depreciation calculations on a monthly basis and ensure that this is posted correctly into System Key Performance Indicators: • Complete, accurate and timeous posting • Depreciation posted 7. Ad hoc functions as assigned Deliverables: • Perform other tasks as assigned within the incumbent's ability QUALIFICATION REQUIREMENTS: Minimum: B Degree in Accounting Preferred: Honours Degree in Accounting EXPERIENCE REQUIREMENTS: Minimum: 4 Years experience in Financial Accounting Preferred: 5 – 7 Years experience in Financial Accounting & Management experience would be an advantage. KNOWLEDGE, SKILLS & BEHAVIOURS Knowledge: • Financial legislation and regulations (IFRS and GAAP) • Accounting procedures • Accounting systems • Budgeting principles • Financial reporting Skills: • Time management • Planning and organising • Communication Behaviours: Attention to detail Accuracy Work under pressure Sense of urgency Deadline driven Professionalism Annual CTC Package: R1 013 914-00 / R 84 492.83 pm depending on your qualifications and experience Apply Now

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Financial Manager Parktown, Johannesburg - South Africa

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