Divisional Accountant - Gqeberha at Shoprite Group of Companies

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