Divisional Financial Manager

at Job Search
Location Parktown, South Africa
Date Posted Feb 12, 2021
Category Accounting Finance Jobs
Job Type Full-time

Description

The Divisional Finance Manager is responsible for all aspects of financial management, ensuring compliance with internal policies and procedures as well as funder requirements. The Divisional Financial Manager works in close collaboration with the Managing Director and senior management in Finance, to manage the financial sustainability of a Division. S/he oversees the day-to-day work of the divisional finances and is responsible for the effective use of financial resources.

Education:
Financial related degree with professional qualification, CA, CIMA etc (NQF Level 7)

Advantageous:
Business Degree/Diploma

Experience:
Minimum of five years’ experience in a financial environment with at least two at management level

Requirements:
SA Citizen or valid work permit to work in South Africa
Advanced computer skills
Driver’s license
Own car
Willing to work overtime

Technical Work Responsibilities:
Financial Budgeting and Forecasting
Financial Modelling / Scenario Planning
Financial Planning and Control
Financial Reporting
Forecasting
Legal Administration
Financial Governance and Risk Management
Financial management information systems
Statutory regulatory requirements
Facilitation/ Advise on Corporate Governance
Asset Management
Savings
Cash flow Management
Requirements
Duties will entail, but not limited to:

Liaise with all Internal Stakeholders and External Stakeholders and Suppliers when necessary towards the achievement of company and departmental goals
Conduct detailed budgeting and forecasting for efficient and effective operations for the Division and Projects (inclusive of Sub-recipients)
Present the budget and forecast
Monitor and track expenditure, and maximise cost-benefit ratio's
Identify trends in variances over time
Recommend and advise on budget revisions to the Managing Director
Continuously liaise with the Managing Director on the divisional strategy and plans to align the financial plans, priorities and processes
Formulate and implement the divisions’ financial plans, priorities and processes
Manage requests, as well as the processing of Treasury transactions, as well as Inter-Company Transactions/ Loans/ Chargebacks
Manage and reconcile Petty Cash
Process Salary Journals for Projects so as to be able to close the division independently
Check and oversee HR (payroll) related cost allocation, timesheets, payslips and expenditure
Monitor asset value, utilisation and ensure that the Asset Register is up to date
Manage and oversee the end-to-end invoicing cycle to ensure invoices are sent out in time and to quality standards
Conduct effective Balance Sheet Management
Provide Financial data, information and interpretation as input to Business Cases
Engage in financial planning activities to minimise financial risk on projects
Support Project Managers to draw up initial budgets for the respective projects
Reconcile actual vs project budget, and advise on potential risks and issues
Support with requests for funding as well as initiatives to secure alternative funding
Ensure that management account data are accurately presented in the financial system
Oversee all financial transactions and ensure compliance to general accounting principles and standards
Ensure timeous payments of supplier accounts and payroll transactions
Monitor and reconcile bank accounts
Manage funder debtors within acceptable debtor days
Monitor Fixed Assets and ensure the integrity and accuracy of the Asset Register
Confirm the financial reporting requirements with the Regional CFO and Managing Director
Identify key financial indicators for Divisional Financial Performance reporting
Ensure that proper reporting mechanisms are in place to conduct financial reporting to funders of projects and research programmes
Collate financial data for monthly reporting, clarify variances, and model solutions to address financial variances
Conduct funder reporting in line with funder unique requirements
Ensure that sub-recipient Financial Reports are reasonable, allowable and allocable
Confirm the decision making authorities pertaining to the role
Ensure an in-depth understanding of the key business priorities to be able to successfully prioritise and drive the relevant decision making
Actively participate in project management to ensure from a financial perspective that projects are delivered within time, budget and funder requirements
Liaise with the Managing Director and manage all procurement decisions
Ensure an in-depth understanding of the relevant cost and financial value drivers of the Division to be able to identify saving opportunities
Monitor and report back on savings realised
Monitor project expenses to proactively identify Project extensions and manage low cost extensions
Conduct rigorous monitoring and management of assets
Participate in Business Case reviews to ensure the financial integrity thereof
Ensure that the appropriate financial governance structures are in place and properly communicated to all stakeholders
Monitor adherence to internal Aurum financial parameters, and external legislative and governance requirements
Regularly liaise with the Senior Aurum Leadership on corporate governance, provide advice and contribute toward the alignment of Aurum to the relevant legislation and regulations
Provide proactive financial advice, insight, commentary and input to the Managing Director to manage and mitigate financial and as such, business risk
Ensure that Project Managers are adhering to budgets and applying cost control techniques
Ensure audit readiness of Aurum and Funders
Coordinate the audit process of Aurum and Funders
Review reasonability for all statutory taxes
Manage and coordinate Funder Audits and provide Funder Audit Feedback
Conduct cash flow planning
Proactively manage cash flow and monitor cash flow risks
Advise the Managing Director on proactive mitigations to put in place to manage risk
Minimize losses that may arise from financial transactions and business operations undertaken by the division
Conduct treasury forecasting to ensure that inflow and outflow amounts match by considering exchange rate fluctuations
Monitor and track foreign exchange gains and losses to minimise an adverse foreign exchange effect
Ensure that employees have clear understanding of work/role descriptions, targets and goals to perform their functions, and that client needs and requirements are integrated into all work related practices
Ensure that employees have the right resources, skills, tools, equipment, and information to successfully execute on their responsibilities
Effectively manage employee performance and create opportunities for personal growth and development
Proactively align future talent needs through effective succession planning and capacity building initiatives (i.e. training, mentorship, coaching etc.), and advise employees on career opportunities and the requirements to achieve personal growth

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