Financial Manager at Sanlam Group

What will you do?

• 4 months contract for a Financial management responsible for the financial, treasury and regulatory reporting for the vehicle which it advises, Sanlam Africa Core Real Estate Investments Limited (SACREIL), domiciled in Mauritius and its subsidiary entities and entities in which SACREIL has an ultimate ownership stake to contribute to, and support the financial decision-making process of the SAREA executive team and advisory committee.

Responsibilities Include :

The main functions of the position are as follows:

Outsourced Financial Management of SACREIL:

• SACREIL does not have any employees and is managed by its Board as assisted by the Audit and Risk Management Committee (ARMC) with certain investment and portfolio management functions outsourced to SAREA and other administrative, compliance and company secretarial functions outsourced to Intercontinental Trust Limited (ITL).

The role is required to continue improvement of the internal financial controls across the SACREIL group of companies, and manage the relationship with the ARMC and ITL with respect to:

• Management accounts, including the management accounts of all of SACREIL’s subsidiaries and other investment entities in Mauritius and the relevant countries in which its properties are located.
• Quarterly financial reporting to the ARMC and SACREIL Board
• Quarterly reporting on the ARMC terms of reference checklist
• Review of the quarterly Advisory Fee due to SAREA.
• Review the dividend calculation per SACREIL’s dividend policy and ensure regulatory compliance.
• Liaison with the auditors for the SACREIL and its underlying investee entities.
• Preparing SACREIL’s annual financial statements (AFS) and annual report and providing oversight on the preparation of SACREIL’s subsidiaries’ AFS.
• Liaison with the tax advisors for the SACREIL group entities and review of tax computations
• Consolidation of SACREIL’s accounts into the Sanlam Group accounts semi-annually
• Preparing SAREA’s representation to SACREIL, and SACREIL’s representation to Sanlam Group semi-annually.
• Preparing the SACREIL annual budget and updated forecasts and reviewing the in- country budgets

Arrears Management:

• Manage debtors monthly, ensuring legal processes are followed when necessary and in line with company policy.
• Drive improvements in debtor management and collections.

Treasury Management:

Strategically overseeing the Group’s treasury function, ensuring active liquidity management and cash flow monitoring. Ultimately enabling the 11 entities in the SACREIL Group to pass the going concern assumption. This includes facilitation and overseeing:

• Ensuring that all 8 entities in the SACREIL Group meets their cash needs
• Ensuring debt covenants are met, maintained and reported on a quarterly basis
• Manage third party and related party loan interest and capital repayments, and redirect cash flows accordingly
• Negotiate limits, covenants and repayments with lenders
• Ensure compliance to all debt agreements and implement changes when necessary

Tax management and compliance

• Liaise with the tax advisors for the 11 SACREIL group entities and review of tax computations.
• Oversee tax audits and return submissions of all SACREL entities and SAFA Trust
• Liaison with Sanlam Group tax division and attend to queries and reviews of the portfolio (CFCs, submissions, etc.)

Management of SAFA Trust:

SAFA Trust is a dormant trust, held by Sanlam Alternative Investments.

• Prepare the financial statements for review and approval by the directors
• Liaise with Group Tax and ITL for the submission of tax returns
• Co-ordinate with the Co-sec team at ITL for the unwinding of SAFA Trust

Qualification and Experience

• Qualified CA with 3 to 5 years related experience, post articles

Knowledge and Skills

• Financial analysis and planning
• Financial Management and controls
• Financial Reporting
• Financial Risk Management
• Management of employees