Financial Manager at Shoprite Group of Companies

Job Objectives

Strategic Support:

• Manage and mature the finance competency within the business unit.
• Provide strategic financial input and support to the management team in achieving its strategic goals and driving the development of the Business Unit.
• Interpret accounting, commercial, and business insights across all aspects of the business within the Business Unit, focusing on achieving financial targets and business imperatives to deliver the business plan.
• Develop trends and projections for the Business Unit’s finances.

Financial Reporting:

• Produce financial reports, interpret financial information for management, and recommend further courses of action.
• Ensure the effective and timely production of monthly management accounts and presentations to the management team, along with regular reporting to relevant stakeholders.
• Organise and continuously improve daily, weekly, and monthly analysis and reporting to equip management with timely, accurate, and value-adding information for informed decision-making.

Financial Management:

• Plan and manage the budget process for the Business Unit and oversee the internal audit process, liaising with external auditors as required to ensure compliance and mitigate risks.
• Evaluate and ensure effective cost management and optimisation across the business, providing input to manage costs in line with business activity.
• Implement principles of good corporate governance, ensuring appropriate costings and viability studies for new initiatives are conducted with sound financial recommendations.
• Research and report on factors influencing business performance.

Financial Controls:

• Develop an in-depth understanding of the end-to-end control environment, identifying and addressing any control weaknesses.
• Implement, maintain, and monitor adequate internal controls across all areas of the business unit, ensuring compliance with regulatory and statutory requirements.

Risk Management:

• Implement a risk framework to identify, document, and define all strategic, operational, and financial risks, along with the necessary mitigating controls.
• Maintain the risk register, identify risk mitigations, and ensure implementation with monthly reports for sign-off and approval.
• Drive the integration of audit risk considerations into the risk management process, ensuring that audit findings are evaluated and incorporated into the overall risk mitigation strategies.

Analysis and Monitoring of Shrinkage:

• Perform cost-related stock investigations and analyse shrinkage results on a weekly, monthly, quarterly, or annual basis.
• Facilitate discussions with the Business Unit to develop cost mitigation strategies and costing models for investment requests.
• Identify high-risk loss product lines and trends, providing actionable recommendations.
• Communicate any non-compliance or concerns related to shrinkage management and reporting.

Qualifications

• Degree or Diploma in BCom Accounting or relevant qualification (essential).
• CA/CIMA, PSIRA qualifications (preferred).

Experience

• +4 years of experience in a similar financial management role with proven experience in a retail environment and its drivers of performance (essential).
• Proven experience in developing and managing new frameworks, processes, and procedures to enable a growing business while ensuring rigorous compliance (essential).