FINANCIAL MANAGER – WORKING CAPITAL

SUMMARY:
INDUSTRIAL GROUP

POSITION INFO:

Based East Rand. 

Recently established Cluster of 4 Manufacturing Companies that have Repair & Maintenance Departments (with multiple Branches around South Africa) that forms part of a high profile listed Industrial Group, has a newly created position called Financial Manager – Working Capital.  This position in the Cluster Finance Department also has a Financial Manager – Accounting who is responsible for the full accounting reporting cycle and has Bookeepers, a Junior Accountant etc. reporting to him.  In this Financial Manager – Working Capital role, there will be 5 x Debtors Clerks and 4 x Creditors Clerks as direct subordinates (2 of which are based at the Branches).  The Working Capital that this candidate will be responsible for consists of Debtors, Creditors, Stock and Bank.  In addition, there will be other responsibilities outlined below.  The Cluster employs 260 staff, is a multi-billion Rand turnover business and in addition to Finance reporting into a Cluster Financial Director, she also has an Administration Department and Human Resources Department as part of her responsibilities. 

Key performance areas, inter alia, include:         

• Manage, mentor, motivate and direct the Debtors and Creditors Teams, all of whom are skilled and experienced and have been employed within the Group for several years.  This will cover day to day management thereof and monthly meetings including job performance assessments. 
• Build relationships and negotiate with Suppliers and Customers and assist in compiling an approved Cluster Supply List, bearing in mind that the Cluster was only created in the middle of 2020. 
• Prepare monthly Working Capital Forecasts which have to be completed by the 4^th of the following month as well as a Cashflow Forecast.  Included is Cash Management for the entire Cluster, inter alia, projecting expenditure (especially re stock) and receipts, which is ongoing.
• Preparation of the Annual Budget in detail and a revised 6 month Budget based on the first six months Cluster performance, analysing material variances and giving explanations.
• Stock Management is very demanding, noting that the inventory is situated at all the Branches.   At times, the Operations Manager as well as the Branch Manager who are directly responsible for their stock, abrogate their responsibilities.  This results in material variances arising between actual stock as per the stocktakes and the perpetual inventory system (this may also indicate pilferage).  It should be noted that Stock consists of raw materials, work in progress and finished goods.  The candidate must ensure that all the necessary controls around stock are adhered to, especially the movement of stock between Branches and that stock is deleted from the system after it has been sold.
• Although the Head Office is directly responsible for Banking and the Groups Treasury, nevertheless, the candidate will be directly involved in Banking and will interact with the Financial Institutions.   The candidate also needs to ensure that the FEC cover obtained for the Cluster’s foreign liabilities is done accurately. 
• There will be Branch Audits carried out by the Financial Director as well as the 2 Financial Managers from time to time, notwithstanding that there is an Internal Audit Department at Head Office.
• Ensure Internal Controls are functioning effectively which needs to be updated as and when required.  In addition, ensure that all the accounting for Working Capital Items are in line with IFRS and the Group’s Accounting Policy for the year-end Annual Financial Statements.
• Assist the Financial Director with ad hoc key projects, bearing in mind that as this is a new Cluster, there are several projects she has in mind and has already commenced with a number of them.

Requirements:

• B Comm, B Compt or equivalent plus Articles and not less than 3 years commercial experience.  The candidate should have had experience as a Senior Accountant and been involved in the whole Accounting cycle. 
•  The preferred industry background will be manufacturing and proven experience in managing stock, banking, debtors and creditors as well as having staff management control.  The debtors and creditors clerks represent various ages and are from the rainbow nation. 
• The successful candidate must be resilient as there are many challenges that have been created as a result of the new Cluster.  Therefore, challenges must not be seen as a problem but as an issue that needs to be resolved calmly, logically and diplomatically. 
• The need for a self-driven individual, with focus, high levels of accuracy, attention to detail and analytical aptitude are required plus very strong problem solving skills.

Apply on-line or alternatively phone Gerald Lilian on (011)-----.

Be advised that if you do not receive a response within two weeks from date of submission of your CV, then please deem your application as unsuccessful.

NB! This job is now closed. You can apply for other jobs by uploading your CV.