Financial Manager at Redheads Engineering Solutions (Pty) Ltd

About the job

• We are currently recruiting for a Financial Manager to join our company in Pretoria.

Budgeting & forecasting:

• Lead the budgeting process in collaboration with the Managing Director and Management.
• Ensure budgets are completed by the end of November for the upcoming financial year.
• Regularly review budget variances and provide insights to management on areas requiring corrective action.
• Provide recommendations to the relevant managers and board for cost control.

Financial management:

• Compile and send out invoices; drive collections process.
• Payment of creditors.
• Bookkeeping (entering expenses and income into Xero).
• Maintain other financial records accurately as required.
• Ensure compliance with accounting standards, tax regulations, and financial policies.

Cash flow & risk management:

• Compile income and expenditure projection (with high accuracy when cash flow is limited) to monitor cash flow to ensure liquidity. Alert MD immediately on anticipated cash constraints.
• Ensure optimal bank balance within group on daily basis (avoid overdraft if another group company has surplus cash).
• Identify financial risks and develop mitigation strategies.
• Implement internal controls to prevent unnecessary or unauthorised spending.
• Maintain strong relationships with banks, auditors, and financial institutions.
• Secure sufficient finance facilities and negotiate favourable credit terms with suppliers and clients.
• Keep company insurances up to date and ensure coverage is sufficient

Budgeting & forecasting

• Lead the budgeting process in collaboration with the Managing Director and Management.
• Ensure budgets are completed by the end of November for the upcoming financial year.
• Regularly review budget variances and provide insights to management on areas requiring corrective action.
• Provide recommendations to the relevant managers and board for cost control.

Financial management:

• Compile and send out invoices; drive collections process.
• Payment of creditors.
• Bookkeeping (entering expenses and income into Xero).
• Maintain other financial records accurately as required.
• Ensure compliance with accounting standards, tax regulations, and financial policies.

Cash flow & risk management

• Compile income and expenditure projection (with high accuracy when cash flow is limited) to monitor cash flow to ensure liquidity. Alert MD immediately on anticipated cash constraints.
• Ensure optimal bank balance within group on daily basis (avoid overdraft if another group company has surplus cash).
• Identify financial risks and develop mitigation strategies.
• Implement internal controls to prevent unnecessary or unauthorised spending.
• Maintain strong relationships with banks, auditors, and financial institutions.
• Secure sufficient finance facilities and negotiate favourable credit terms with suppliers and clients.
• Keep company insurances up to date and ensure coverage is sufficient

Process optimization & cost management

• Define and document financial management processes where this has not been done yet (assistance with documentation is available). Drive improvements in financial processes and internal controls, implementing automation of processes as far as possible and feasible.
• Implement financial systems and tools to enhance reporting accuracy.
• Identify cost-saving and optimisation opportunities while maintaining and improving operational efficiency.

Taxes:

• Submit monthly EMP201 returns.
• Prepare EMP501 & IRP6.
• Compile and submit bi-monthly VAT returns.
• Prepare submission of info to accountants for income tax declarations and checking submissions.
• Utilise tax saving opportunities for expats, contractors and company.
• Submit CIPC returns.
• Technology and Systems Optimisation
• Implement and improve financial software and ERP systems.
• Leverage data analytics for better financial decision-making.
• Ensure cybersecurity measures for financial data protection.
• Management Accounting & Decision Support
• Financial analysis for decision-making from a strategic perspective: provide management with profitability analysis, cost trends and key financial metrics, to support management action and strategic decisions.
• Project costing & profitability tracking: Analyse project costs, compare budgeted vs. actual expenses, and assess profitability to ensure sustainable pricing and resource allocation. 
• Break-even & pricing analysis: Determine cost structures and break-even points to guide pricing strategies for services and contracts.
• Scenario planning & financial modelling: Assess the financial impact of different business scenarios, such as expansion, new service lines, or cost-cutting initiatives.
• KPI & performance monitoring: Develop and track key financial performance indicators (KPIs) to measure business success and efficiency.
• Management reporting: Prepare monthly and quarterly financial reports with actionable insights to guide executive decisions.
• Capital investment appraisal: Evaluate potential investments in equipment, technology, or infrastructure to ensure a good return on investment.

Qualifications:

• Bachelor’s degree in Finance, Accounting, or related field 
• Minimum 7 years of experience in financial management.
• Strong analytical, strategic planning, and problem-solving skills.
• Proficiency in financial software, ERP systems, and advanced Excel.
• Excellent leadership and communication abilities.