Job Description

Purpose of the Job

The purpose of the Divisional Accountant role at OK Franchise Division is to guarantee the accuracy, compliance, completeness, and timeliness of the organisation's financial information. This role involves analysing historical data, delivering precise and compliant reports to external stakeholders, and upholding high standards of financial accountability. Specialised knowledge in finance and accounting within the framework of OK Franchise operations is essential for this position.

Job Objectives

General ledger management:

Maintain the general ledger. Take full ownership of the accounting functions for the region and ensure that IFRS standards are adhered to. Communication and collaboration with various departments to ensure the accounting records are compliant with the needs of the aforementioned departments. Extract data from and reconcile the GL to provide insights into the divisions financial position. Ensure monthly general ledger reconciliations are completed and submitted timeously. Take initiative to manage control/provision accounts for the purposes of keeping track of various projects.

Financial reporting (Franchise and Corporate stores):

Gather and categorise pertinent financial data, including transaction records, invoices, and bank statements. Compile management statements on a monthly basis summarizing and analysing revenue, expenses, net income and all income statement line items pertaining to the region over a specific period. Review, validate and present statements for accuracy, consistency, and compliance with accounting standards. Calculate, review and report on member incentive schemes for distribution. Capture of monthly and ad-hoc expenses (like rental, utilities, maintenance, cleaning, etc) to ensure we can report on profitability of corporate stores. Prepare, capture and maintain fixed asset register for corporate stores. Review and monitor trade summaries on a weekly and monthly basis. Ensure daily cash-up reports and bank recons are captured and reconciled and reported. Monitor, review and assist operational managers with key information like shrinkage, wastage, outstanding deposits, stock holding, voids, etc.

Credit & Risk Management

Onboarding of franchisees, including review of Cashflow projections, reviewing new store viability in line with OK Franchise Benchmarks. Monitor and follow up on overdue debtor accounts in accordance with company credit policies and agreed payment terms. Identify and escalate high-risk or persistently overdue accounts to the Credit & Legal Department. Implement, monitor and review of credit limits with existing and new franchisees on a weekly, monthly basis. Preparation and review of Cash Flow Statements as and when necessary for cross-departmental support purposes.

Budget Preparation

Assist the Divisional Management team with the compilation of the Turnover budget to ensure that the required turnover growth is achieved. Prepare Income & Expense budget based on guidelines, market trends, prior year trends and any known factors at time of budget

Audit preparation:

Maintain and update records on a regular basis to ensure a smooth audit. Monitor developments instituted by regulatory bodies and remain updated to ensure accurate financial reporting. Working closely with the audit function to ensure that all risks and related areas of reconciliations are identified for audit purposes.

Stakeholder Management and Partnerships:

Maintain strong relationships with franchise partners, providing financial guidance and support as needed. Engage with internal and external stakeholders to address financial concerns and objectives. Act as a resource and knowledge expert on financial matters for franchise teams and functional departments.

General Management:

Manage a financial team consisting of creditor and debtors clerks. Collaboration with the People Team to ensure compliance with human resource management requirements. Conflict management in relation to the division financial section. Resolve time sensitive queries for members and HOD's. Maintain a level of professional confidentiality, especially in relation to managing the team and in the process of working with information relating to members.

Qualifications

Bachelor's degree in finance or related field (essential) - CA(SA) (preferred) / SAIPA / CIMA.

Experience

+4 years of experience in an Accounting or equivalent role. Experience within the FMCG, retail sector or similar. Familiarity with accounting software - SAP

Knowledge and Skills

Advanced proficiency in Microsoft Excel. Experience working in a franchise or decentralised operational environment.

Applicant Feedback Policy