Finance Manager at Vector Logistics

Job Purpose

• To consolidate and manage internal and external Company financial reporting.

Key Responsibilities

Strategic and Technical Contribution

• Participate in the formulation and implementation of the national finance strategy, based on a 2 to 5 year view of requirements.
• Provide strategic input into the Business.
• Ensure that assigned and agreed strategic targets are operationalised and achieved.

Financial Accounting

• Oversee and manage IFRS compliance.
• Ensure that the general ledgers (Business directly and operational ledgers indirectly) and subsidiary books are maintained according to Company policy and IFRS.
• Ensure that monthly general ledger reconciliations are completed and reconciling items resolved.
• Ensure that the monthly close-off of accounts fairly reflects the monthly results of the Business

Creditors

• Manage the centralised creditors departments for both the PSD and CSD businesses.
• Ensure all supplier accounts are reconciled and paid according to terms and agreed pricing conditions.
• Ensure all distribution fees and charges for services rendered are recovered from customers and principals in line with agreed contracts and pricing agreements.
• Ensure all queries and claims are followed up and cleared timeously.
• Engage with suppliers and the relevant Customer Manager where necessary to resolve difficult claims and escalate to the Customer Director should there be any unresolved disputes.

Statutory Compliance

• Manage statutory financial close-off across the Business.
• Manage and oversee that the required interim and year-end reporting schedules are completed.
• Liaise with internal and external auditors.
• Review the annual financial statements for the Business.
• Manage and oversee compliance with the VAT legislation.
• Ensure income tax compliance and manage tax risks across the Business including identifying risks, assessing their possible impact and following up of interventions to ensure compliance.
• Manage the accurate and prompt submission of all income tax returns.
• Provide input regarding compliance with company law in conjunction with the legal department thereby ensuring compliance with commercial law and legislation generally.

Management Reporting

• Review monthly reports for consolidation into the Executive Board report ensuring completeness, accuracy, alignment with strategy and overall insightful/meaningful commentary.
• Compile monthly management report on financial results.
• Provide ad hoc information and reports to decision makers on an ongoing basis.
• Ensure efficiency ratios are reported and managed across the Business.

Budgeting and Forecasting

• Contribute towards the completion of the Company’s budget process and delivery within deadlines.
• Complete the consolidated company budget schedules and submit to Group Head Office within deadlines.
• Provide input regarding the formulation of the operational budgets.

Capex Monitoring and Reporting

• Monitor and report the Business’s capex spend and authorisations on a monthly basis and ensure the relevant schedules are completed timeously for the interim and annual reporting packs.
• Ensure all capex approvals are completed in line with company policy and authorised according to the appropriate levels of authority.

Assets

• Ensure the assets of the company are fairly reported in SAP through periodic asset verifications and compliance with IFRS principles.
• Ensure appropriate wear and tear and depreciation rates are applied consistently and in line with IFRS principals and current tax legislation.
• Manage assets movements, additions, transfers and disposals.

Treasury

• Manage the Business’s treasury requirements.
• Manage and optimise Business cash flow.
• Liaise with the Business’s bankers.

Internal Control

• Continuously identify and pursue opportunities to improve control procedures throughout the Business.
• Follow up on audit queries and ensure that corrective action is taken by responsible teams.
• Ensure compliance with approved procedures by means of control checks performed by the finance team.

Competitor Analysis

• Bi-annually issue an analysis of competitor comparisons to the Board.
• Focus on key insights to support competitive advantage.

Board Reporting

• Manage Board presentations on company performance on a monthly basis and provide analysis and commentary to highlight major variances and issues.

Projects

• Lead ad hoc projects and represent finance on major projects involving pricing, account allocations, testing etc.

Staff Management

• Lead and develop staff within the context of the Labour Relations Act, Employment Equity Act, Basic Conditions of Employment Act and the Skills Development Act.
• Monitor staff performance and provide regular feedback.
• Manage staff activities, ensuring service levels are met and protocols are adhered to.
• Coach and support staff where necessary to achieve objectives.
• Manage staff leave and general time management issues in line with organisational deliverables and standards.
• Manage and deliver on succession plans to enable the development of a future generation of leaders and specialists and ensure optimal turnover and retention levels are maintained.
• Conduct regular performance appraisals with subordinates.
• Establish sound staff and labour organising and communication structures and systems.
• Develop and manage high performance multidisciplinary teams in order to solve problems within the commercial arena.
• Conduct regular meetings and ensure that records are kept and shared across the team and that action plans agreed to within team meetings are delivered upon.

KPI’s

• Timeliness and accuracy of reporting.
• Level of compliance.
• Audit results.
• Budget and forecasting accuracy and relevance.
• Quality of advice, insight and recommendations to management teams.

Qualifications, Skills and Experience Required for the Job

Qualifications and Experience

• 5 to10 years’ experience, including financial reporting and people management.
• Must hold a CA qualification.
• SAP experience would be advantageous.

Skills and Competencies

Leadership Standards

•  Provide inspirational leadership.
•  Create a culture of execution.
• Display business insight and innovate.
• Develop customer service obsession.
• Develop commitment through engagement.

Knowledge

• Financial accounting principles and practices.
• Commercial and contract law.
• Good understanding of Tax and VAT Acts.
• Budgeting and forecasting methods.
• Broad knowledge of Vector operations and systems.
• An understanding of multiple key performance indicators, inter-relationship and bottom-line sensitivity.

Skills

• Feasibility and appraisal methods.
• Verbal and written communication.
• Computer literacy (MS Office and especially proficiency in Excel).
• Report writing.
• Interpersonal relations.
• Negotiation.
• Logical thinking.
• Problem solving.
• Decision-making.
• Analytical thinking.
• Presentation.
• Numeracy.
• Strategic influencing.
• Lateral and innovative thinking.
• Organisational awareness.
• Ability to leverage technology.

Attributes

• Diplomacy.
• Initiative and assertiveness.
• Tolerance of stress and pressure.
• Creativity.
• Proactivity.
• Attention to detail.
• Deadline driven.
• Able to interact at all levels of the organisation.
• Able to plan ahead.