Financial Manager at AllLife

Job description

AllLife looking for a bright and hard-working Financial Manager who will hit the ground running. This person will be responsible for the end-to-end financial management activities of a Financial Services Provider and related Group entities.

Please read the requirements carefully. Apply with an updated CV and supporting certification.

At AllLife we raise the bar for ourselves and our industry in everything we do, across all aspects of our business and our lives.

Through a high-performance work environment in which our people grow and thrive, we actively choose to work together, everyday, to create and nurture a sense of family with our clients, partners and each other.

Key deliverables of the position:

• Cashflow forecasting and cash management:
• Review of weekly bank recons as well as cash forecasts;
• Ensure that excess cash resources are invested timeously at the most attractive rates available;
• Ensure that there is always enough cash to pay suppliers and payroll-related disbursements;
• Ownership of the Group’s day-to-day activities with SBSA (Business Banking, BOL etc) and other banking institutions.
• Debt management and other payments:
• Ensuring that capital and interest repayments are done timeously and interest is calculated, accrued and reconciled accurately;
• Monitoring of covenants as stipulated in the various lending agreements with appropriate warnings raised where there are significant current or projected negative variances or trends;
• Ensuring that the Group meets all its reporting requirements to the lenders (e.g regular submission of management accounts, notifications when certain events happen etc) as stipulated in the various lending agreements.
• Management accounting:
• Responsible for the review of monthly balance sheet and income statement recons for all legal entities;
• Overall responsibility for the preparation of monthly management accounts and analysis for management review (currently have two products, three divisions as well as various activity centres to look after);
• Ownership of the Chart of Accounts and Cost Centre structure to ensure these are conducive to the tracking of costs in a manner required to provide a useful view of the business’s performance;
• Assume overall responsibility for calculation of fees due to the FSP in line with the binder and intermediary agreements between the FSP and the insurer.
• Cost Control and Budgeting:
• Ownership of the Group’s cost allocation engine to ensure that shared services costs are allocated to appropriate products and distribution channels;
• Overall responsibility for the preparation/review of monthly cost centre reports for discussion with relevant Cost Centre Managers;
• Responsible for the preparation of annual budget and monthly reforecasting of full year profits for the various reporting units within the business.
• Policyholder Transactions:
• Overall product ownership of the policy administration system
• Regular review of control accounts to ensure that:
• significant and long-outstanding premium balances are actioned appropriately by both the Collections and Retentions Teams; and
• other processing errors in the admin system are identified and rectified timeously;
• Ownership of account mapping tables that link the admin system to the GL – ensuring that new products or amendments to existing products are catered for;
• Overall ownership of the cashflow processes (and related reconciliations) involving the insurer and reinsurer.
• Tax compliance of all legal entities in the Group:
• Income Tax – review and submission of IT14 and provisional tax returns;
• VAT – review and submission of VAT returns taking into particular account implications of VAT leakage given the overall Group structure and the impact it has on intercompany transactions;
• PAYE - review and submission of EMP201 returns. Relevant income tax knowledge to advise on various employee-related disbursements especially (the company has a significant sales force that gets remunerated via a combination of basic and monthly incentives (standard and ad-hoc);
• Take overall ownership of the Group’s liaisons with SARS.
• Responsible for the guidance of staff and review of work of staff reporting to you;
• Ad-hoc tasks as required by management from time to time

Other responsibilities:

• Responsible for the Accounts Payables function ensuring that this is run in line with the business’s internal controls;
• Overall responsibility for ensuring maintenance of a fixed asset register on Pastel Evolution with regular physical verification done as well as ensuring that new assets are insured appropriately;
• Monitoring of compliance with FAIS’s financial soundness requirements with corrective action taken where necessary;
• Liaising with external providers e.g auditors, tax advisers, company secretarial services provider etc;
• Drafting of Annual Financial Statements (including consolidation) in line with IFRS and the Companies Act.
• Implementation and maintenance of systems of internal control

Competencies Required

• Leadership and team work capabilities
• Owner mind set and emotional maturity
• Attention to detail
• Good written and verbal skills
• Promotes team energy and culture positively
• Collaboration and problem solving with peers (cross functionally) and Senior Management
• Good judgment and decisiveness
• Must use leadership initiative and discretion in decision making

Candidate Profile

CA (SA) with 4-5 years’ post articles experience in a similar role (financial services experience will be a distinct advantage).
Advance proficiency in Excel.

No agencies are required to assist at this time. Agnecies thank you for your cooperation during this procedure.

Candidates I look forward to your application!