Finance Manager at Africrest Properties

Position Purpose and Profile

• It is a requirement of this position that the Finance Manager takes full responsibility for the management of the finance team in relation to all financial matters relating to the Residential- and/or Commercial Property Portfolio. This includes ensuring business transactions are reported in accordance with generally accepted accounting principles (IFRS for SMEs). Day-to-day monitoring of the operations of the finance department. Ensuring compliance with accounting policies and regulatory requirements. Driving continuous improvement in the finance department. Continuous monitoring of controls to ensure the implementation of mitigations for any identified weaknesses.

Responsibilities:

• Include but are not limited to:
• Ongoing:
• Management of financial accountants to ensure the delivery of accurate, reliable, and high-quality deliverables within required deadlines.
• Coaching and upskilling of financial accountants.
• Ensuring cohesion between the financial accounting team and the creditors team in collaboration with the Creditors Supervisor, to meet the obligations of the overall finance department.
• Treasury management, including, but not limited to:
• Sweeping of surplus cash balances.
• Bank account administration.
• Managing of FICA requests in collaboration with Office Manager.
• DOKKA accounts payable system administration.
• Drafting, distribution and implementation of processes and relevant policy documents.
• Drafting and maintenance of Finance Team manual.

Monthly:

• Review and posting of journals prepared by the financial accountants.
• Review and approval of fixed assets capitalised, and all inputs loaded into the MDA fixed asset module.
• Review of items capitalised to Property improvements to ensure they are in line with the capitalisation policy.
• Review VAT and ensure sufficient funds are available in the bank to make payments.
• Review income statement commentary prepared by financial accountants.
• Review Balance sheets and prepare key balance sheet account reconciliations in collaboration with Creditors Supervisor where relevant.
• Review intercompany transactions to ensure completeness of elimination journals.
• Preparation of consolidated income statement and balance sheet.
• Preparation of external covenant reporting for review by Head Of Finance.
• Preparation of income statement forecast to feed into monthly cashflow forecast prepared by Head Of Finance.
• Sweep funds for PAYE payment (fifth of every month) and distribute allocation to Creditors team.
• Address queries raised by stakeholders on the financial accounts.
• Review of creditors reconciliations in line with policy.

Annual:

• Completion of CIPC returns & related tracking schedule.
• Budget timeline coordination and budget preparation in collaboration with property managers.
• Completion of statistics questionnaires.
• Management of interim and year end audit.
• Completion of final tax computations - due for audit & final post audit adjustments due for submission in September.
• Assistance with AFS review.

Adhoc:

• May include, but is not limited to:
• Assistance with adhoc projects related to finance department.
• Reporting requested by various stakeholders.
• Addressing financial queries raised by various stakeholders.

Quaterly:

• Preparation of Board reporting for review by Head Of Finance.
• Preparation of third-party shareholder reporting for review by Head Of Finance.

Half yearly:

• Preparation of 1st provisional tax computations - due for submission August.
• Preparation of 2nd provisional tax computations - due for submission February.

Qualifications, Skills and Experience:

• At least 3 years’ experience as a Finance Manager (full finance function).
• Accounting post-graduate degree.
• CA(SA), SAIPA, ACCA, CIMA.
• MDA experience preferred.
• Property Industry experience preferred.
• Excellent written, verbal, interpersonal and organizational skills.
• Strong leadership skills and ability to manage a diverse team.
• Consolidation and intercompany transactions experience.
• Strong technical accounting (IFRS) and excel skills.
• Analytical, critical thinking and problem-solving skills.
• Attention to detail and accuracy.