Job Description

Our client in the Financial Wealth Management Services industry is currently looking for a Financial Manager, in Bryanston.

Responsibilities:

• Responsible for the full finance function from start to finish, as well as regulatory reporting, tax submission, preparation of monthly accounts and cost allocations.
• Leadership and Financial Reporting:
• Leadership of the Finance Team, including training, managing team. performance/KPAs/goals, mentoring, delegating tasks, reviewing work done by the team, setting deadlines, etc.
• Financial Reporting in accordance with IFRS policies and procedures, including monthly management accounts (AW, APC, AB, AFOS, AAMIL and AH Consolidation)
• Ensuring monthly reporting procedures are carried out timeously by the team, including reviewing of all GL accounts and reconciliations (FAR, Finance Leases, Intangible Assets, Loan accounts, etc.), making sure all invoicing and accruals are done, etc.
• Monthly preparation of the Management Accounts.
• Preparation of the companyxe2x80x99s Consolidated Financial Report and Board Pack Quarterly.
• Attend the quarterly board meetings.
• Manage deadlines for the other smaller companies within the group, by building good working relationships with other departments (FIR, HT, ET), in order to consolidate the numbers timeously.
• Ensuring all the loan amortizations are updated in the company and any new Investments are accounted for correctly. Existing investments need to be revalued regularly as required.
• Foreign Exchange exposure and hedge reporting weekly from a group level.
• External Audit and Annual Financial Statements:
• Manage and execute the annual external audit for the 6 companies mentioned above as well as the group consolidation. Full responsibility for planning, managing deadlines, attending to audit queries, reviewing draft AFS, getting the AFS signed, etc.
• Build a good working relationship with the Audit Partner to ensure a streamlined and efficient audit, in order to get the Annual Financial Statements completed within the set deadlines.
• Build a good working relationship with the other departments to ensure timely management accounts and AFS are prepared for the other smaller subsidiaries in the group, that is required for the Consolidation.
• Ensuring year end journals and reconciliations are done on time in preparation for the audit.
• Regulatory Reporting (AW AND APC):
• FSCA Regulatory reporting, included but not limited to: Maintaining capital adequacy requirements monthly, ensuring the companies meet the solvency and liquidity ratios monthly, submission of ratios and management accounts monthly, submission of signed AFS annually, submission of AUM and liquidity information bi-annually, etc.
• Payroll:
• Full responsibility for ensuring all payroll changes for the month is accurately reported to their payroll consultant to process. Including processing all travel and expense claims by the staff.
• Ensuring all new starters and exits are managed properly, by making sure all the necessary forms are filled in and submitted to the appropriate people to process and administer (Medical Aid, Provident Fund, Payroll information, etc.)
• Reviewing of the monthly payroll in detail. Processing the monthly payroll on FNB for payment.
• Processing of the Quarterly Wealth Manager Commissionxe2x80x99s via payroll and payment thereof.
• Processing of the Operations Teamxe2x80x99s Bi-Annual Bonus via payroll and payment thereof.
• Processing of the APC/AFO Commission quarterly and payment thereof.
• Monthly processing of the PAYE payment.
• Ensuring all COIDA payments are made on time. Submitting STATS SA information.
• Build a good working relationship with their employee benefits team and GIB (Provident fund and Group Risk benefits team), to ensure that all employee related items with regards to medical aid and group benefits are attended to appropriately.
• Wealth Manager Commission:
• Ensuring Commspace deadlines are adhered to monthly.
• Review of the Wealth Manager Commissions that are prepared quarterly by the accountant. Processing of the Wealth Manager commission payments via payroll and FNB.
• APC/AFO Commission:
• Preparation of the APC/AFO Commission calculation quarterly. Processing of this on payroll and FNB.
• Operations Team Bonus Calculation:
• Bi-annual operations team bonus pool calculation. Processing of this on payroll and FNB.
• Payments:
• Review of all payments to suppliers. (Both local and international)
• Maintaining a good working relationship with all bankers (FNB, Investec, SQ, JB and CS)
• Custodian for the FNB/RMB bank accounts and credit cards.
• Transfer offshore cash to RSA monthly. Ensuring a minimum balance is kept offshore.
• Debtors/Creditors:
• Review debtors and creditors reconciliations monthly.
• Ensure any long outstanding debtors are followed up on timeously.
• Group Insurance:
• Ensuring the annual review documents for the IMI/PI/DO and Cyber insurance are submitted on time. Negotiating the annual fees with their insurance brokers and ensuring all subjectivities (if any) are attended to on time.
• Ensuring the short-term insurance cover is updated with any new assets etc. Submission of any claims if any. Managing the relationship with their insurance brokers.
• Treasury and Cash Management:
• Weekly cash flow forecast reporting to the business executives.
• Ensuring that the AW and APC companies maintain their minimum cash requirement monthly.
• Ensure that any offshore money gets brought back to RSA monthly and converted to ZAR. To ensure SARB compliance.
• Hedging Currency Risk:
• Ensuring that the Dollar Futures in place are renewed or adjusted on time. Weekly hedge and currency exposure reporting.
• Cost Allocations:
• Bi-annual cost allocation methodology review and implementation. To ensure a fair allocation of the shared costs within the group to all companies.
• Accounting System:
• Custodian of the accounting system Xero and Consolidation system Syft.
• Company Secretarial:
• Ensuring company annual returns are submitted timeously on CIPC.
• Ensuring any changes to CIPC information is submitted and lodged. Maintenance of the company documents.
• Divisional Reporting:
• Preparation of the quarterly divisional reports for all regions.
• Sarb Compliance/Annual Review:
• Ensuring all offshore loans/investments and agreements are SARB complainant. Submission for approval to SARB of any new Investements.
• Maintenance of the existing approvals in place, by ensuring that the annual review documents are timeously submitted.
• Taxation:
• Ensuring all Income tax, Provisional tax, VAT and Dividend Withholding tax is submitted on time. Dealing with any SARB audits and queries.
• Other:
• Any adhoc projects as and when required by the business.
• Assist with developing, implementing and modifying financial policies and procedures as and when required to create a more effective and efficient finance department. That encompasses the necessary internal controls required to minimize the risk of error and fraud within the business.
• Be the custodian to ensure accurate, logical and single version of electronic records are kept. Understanding of multicurrency entities and foreign exchange translations.
• Ability to multitask and prioritize deliverables.
• Ability to manage deadlines and work under pressure. Understanding of technical accounting concepts and consolidations.

• Minimum of 3 yearsxe2x80x99 experience in Financial Services.
• Qualified Chartered Accountant|(SA) or equivalent professional qualifications CIMA; Must be a South African citizen.
• Exposure to the Financial Services Industry (specifically wealth and asset management), with a strong technical finance background and a leadership skillset.
• Preferably, the candidate should have experience as a Financial Manager in a similar sized company and ideally within the Financial Services industry or a similar sector.
• Have a successful track record of working in a complex Financial environment.
• Ideally someone who would be available immediately or have a short notice period.
• Highly numerate with a professional understanding of financial statements including critical ratios, income statement, cash flow, and balance sheet structures.
• Familiarity with annual audits.
• An excellent knowledge of South African taxation.
• Demonstratable history of staff management and supervision experience.
• A good understanding of local and international business practice.
• Ability to develop efficiencies in the accounting processes and systems.
• Strong communication and interpersonal skills.
• Excellent organizational, time management and written skills.

• R950 000 xe2x80x93 R1.1 mil per annum.

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