Financial Manager at RCL Foods

Closing Date:2020/11/20
Reference Number:RCL201106-2

Job Description    

• RCL FOODS is passionate about talent and we are currently seeking a Financial Manager to join our Pretoria Milling Business Unit. The role will report into the Finance Executive. The role has 2 direct reports and requires someone with previous team management experience who is passionate about creating a culture of execution and customer service obsession. The Financial Manager is entrusted to provide accurate and timeous financial reporting and ensuring corporate governance compliance for the operations. The Financial Manager will be responsible for making operational decisions within their ambit of responsibility in line with efficient resource utilization practices and timing requirements.

Minimum Requirements    

• CA (SA) with 4 years post-articles experience.
• Syspro or SAP experience would be advantageous
• 3 - 5 years’ experience in a management role leading teams.
• In-depth knowledge of the FMCG market and challenges it faces
• Financial accounting principles and practices
• Good understanding of Tax and VAT Acts

Duties & Responsibilities    
Responsibilities and tasks performed:

• Financial oversight
• Financial oversight over the Mill
• Ensuring company policies are adhered to

Financial accounting

• Ensuring that general ledger and subsidiary ledgers are maintained in accordance with IFRS and Group policy
• Assess and recommend levels of provisions
• Monthly review of all general ledger balance sheet reconciliations
• Oversee monthly financial month end close, ensuring deadlines are met

Creditors management

• Authorization of new creditors inconsistent with the company's approved Payment terms
• Implement controls to ensure completeness, validity, accuracy and adherence to deadlines
• Investigate opportunities to streamline payment runs, and improve cash flow management by adhering to standard payment terms

Banking

• Responsible for the cash management (Treasury) function across the bakeries and the Mill
• Implement processes and controls ensuring that company cash policies are adhered to, and daily cash requirements are met
• Submission of the consolidated cash flow to RCL Treasury
• Oversee cash forecasting ( weekly and daily) as well as spend reporting
• Performance of all functions associated with a banking signatory across the Bakeries and the Mill

Fixed Asset Life Cycle Management

• Ensuring that the annual physical asset verification is performed and conducted within timeframes
• Ensuring that useful lives and residual value reassessments are performed annually in compliance with IFRS
• Responsible for the complete capex function – acquisitions, disposals, approvals

Vat and Statutory submissions

• Responsible for the review and submission of the consolidated vat computation for the bakeries and the Mill
• Oversight of the Compilation of the annual tax pack

Monthly reporting

• Compilation and submission of the consolidated Cognos pack to RCL Head Office
• Submission of monthly working papers to Group Finance

Staff management

• The creditors function is under the management of the FM
• 2 accountants directly report to into the position (GL accountant and AP and Fixed asset accountant)
• The treasury function for the 7 bakeries and the Mill is managed as part of the portfolio

Internal controls

• Continuously identify and pursue opportunities to improve control procedures.
• 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.

Financial year end and Statutory audits

• Responsible for the compilation of the Annual Financial statements
• Responsible for the compilation of all year-end reporting packs
• Responsible for the coordination of the year-end external audit

Ad hoc responsibilities

• Addressing queries arising from RCL Head Pffice
• Assisting all stakeholders with various queries regarding business processes
• Releasing of daily payments and approving once off cash book payments
• Assisting in the compilation of documents and schedules for Ad hoc audits (BEE, Food Safety etc)
• Submission of reports for the purposes of Statsa, updating banking documentation etc

Budgeting and forecasting

• Forecasting of the balance sheet and cash flow statement annually and quarterly
• Forecasting of the ROIC and waterfall
• Preparation of a forecasted Cognos (balance sheet and income statement) quarterly
• Compilation of a quarterly forecasted deliverables pack to Head Office