The FM is responsible for overseeing all financial aspects of the business, ensuring accuracy in financial reporting, managing cash flow, and providing commercial support to the GM. This role includes leadership of the finance team, involvement in procurement, contract reviews, efficiency projects, financial modelling, and the onboarding of suppliers and customers. The FM will also ensure compliance with legal requirements and internal policies, contributing to the overall financial health and growth of the business.
Key Responsibilities:
1. Financial Management & Reporting:
Month-End & Year-End Close:
Lead the month-end close process, including posting monthly journals and reconciliations.
Compile management accounts, management reports, and supporting reconciliations.
Cash Flow Management:
Prepare and monitor bi-weekly cash flow forecasts.
Manage foreign exchange exposures, ensuring that financial risks are minimized.
Budgeting & Forecasting:
Lead the annual budgeting process and monthly forecasts, collaborating with other departments
Fixed Asset Management:
Maintain and update the fixed asset register, including monthly depreciation.
Oversee capital expenditure approval processes and manage reporting in Sage.
ESOP:
Manage ESOP accounting, reporting, issuing of units, payouts, letters, valuations and administrative processes
2. Commercial Support to MD:
Contract Reviews:
Perform commercial reviews of customer and supplier contracts, ensuring terms are aligned with business goals.
Provide support during contract negotiations and renewals by supplying financial and commercial insights and modelling.
PMC Export Parity Price Monitoring:
Regularly track and update PMC export parity pricing.
Customer Pricing Adjustments:
Calculate customer price adjustments and compile price adjustment letters.
Investment Cases & Financial Modelling:
Develop and present ad-hoc financial models for potential investment opportunities, business deals, and special projects.
Provide financial insight to support decision-making for the GM and executive team.
Customer Pre-Payment and Rebate Reconciliations:
Oversee the reconciliation of customer pre-payments and rebates, ensuring accuracy in billing, revenue recognition, account credits and accruals.
Efficiency Improvement Projects:
Identify opportunities to improve financial and operational efficiency, working with other departments to implement changes.
Risk Management:
Manage the business risk assessments, risk management, and mitigation thereof, including insurance.
3. Procurement, Supplier Management & Onboarding:
Supplier Masterfile & Compliance:
Ensure all supplier records are up to date, including verification of BEE certificates and tax compliance.
Oversee supplier contract terms, ensuring alignment with financial goals and budgets.
Procurement Transactions & Reconciliation:
Ensure proper 3-way matching for supplier invoices, purchase orders, and delivery notes.
Review procurement transactions for accuracy and manage inbound transport cost reconciliations.
Supplier Payments:
Manage the monthly supplier payment process, ensuring all payments are authorized and reconciled.
Oversee creditors’ reconciliations, resolving any discrepancies in supplier accounts.
Procurement Management:
Provide oversight and support to the Procurement team, ensuring compliance with financial controls and procurement policies.
Supplier Onboarding:
Ensure seamless onboarding of new suppliers, including setting up accounts and verifying credentials.
Supplier Credit:
Manage and oversee supplier credit applications.
Review and evaluate supplier credit terms to ensure alignment with company policies and financial strategies.
4. Sales, Debtors Management & Customer Onboarding:
Invoicing & Export Documentation:
Ensure accurate invoicing for both export and local customers, managing export documentation and resolving customer queries.
Debtor Collections & Reconciliations:
Manage the debtor collection process to ensure timely payments from customers.
Oversee debtor reconciliations and issue monthly debtors' statements.
Customer Onboarding:
Oversee the onboarding process for new customers, ensuring financial due diligence, setting up accounts, and verifying terms of trade.
Collaborate with the sales and export teams to ensure a smooth onboarding experience for new customers, handling financial setup and documentation.
Customer Credit:
Oversee and regularly review customer credit limits, ensuring they align with risk management policies.
Review, assess, and approve customer credit applications in accordance with the Group's delegation of authority framework.
5. Inventory & Manufacturing:
Costing & Receipting:
Periodically review standard costing for magnetite and ensure accurate inventory receipting in Sage.
Stock Control & Reconciliation:
Oversee stock control processes, including consumable and bulk bag stock management.
Ensure regular stock takes and reconciliations are completed, and variances are addressed.
6. Compliance, Audits & BEE Strategy:
Tax & Audit Compliance:
Ensure compliance with VAT, tax, and audit requirements, including coordinating the company’s external audit interaction. o Maintain accurate accounting records for audit readiness.
BEE Certification:
Manage the company’s BEE strategy, ensuring spending aligns with the company's BEE targets.
Coordinate and execute the annual BEE audit and certification process.
7. Team Leadership & Collaboration:
Finance Team Management:
Lead, mentor, and develop the finance team to ensure smooth operations and accurate reporting.
Conduct performance reviews and ensure the team meets financial deadlines.
Cross-Functional Leadership:
Collaborate with other departments to drive business efficiency and support cross-functional projects.
8. Meetings & Reporting:
Regular Meetings:
Attend internal meetings as required, representing the finance department and providing financial insights.
Lead internal finance meetings, providing updates on financial performance, cash flow, and procurement activities.
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