Financial Operations Manager (Cape Town CBD) at BDO South Africa

Description

• The Financial Manager is responsible for the financial deliverables of the department i.e. financial reporting, data analysis, creditor payments etc. The Financial Manager will produce accurate Financial Reports and assist in developing strategies and plans for the long-term financial goals of BDO.  The Financial Manager will ensure that various timelines are strictly met. Adherence to all applicable tax regulations.

Main duties and responsibilities 

• Perform a weekly reconciliation of planned time per the job planning system to the actual time billed to engagement codes per the timesheet system. Investigate significant differences and obtain feedback from engagement managers and partners.
• Summarise significant deviations to prepare an early warnings report for head of business.
• Follow up weekly with engagement managers and partners on long outstanding debtors and action any points arising.
• Summarise collections on invoices on a weekly basis and compare to long outstanding debtors.
• Share weekly partner performance dashboards obtained from Power BI. Attend to queries arising from partner review of dashboards.
• Share weekly partner remco dashboards obtained from Power BI. Attend to queries arising from partner review of dashboards.
• Ensure provisions are captured across all engagement codes on a monthly basis. Engage job managers to assess their stage of completion and overall job progress to budget. Review reasonability of provisions to ensure no excessive provisions have been passed, that provisions are accurate and that there are no missing provisions.
• Included under WIP reports
• Prepare a job summary report after provisions that shows monthly gross time and amounts provided for the month. Obtain reasons for significant outliers and low recovery jobs.
• Compare the monthly revenue results to the budgeted revenue per partner and per client. Obtain reasons for variances.
• Summarise disbursements by nature, category and client on a monthly basis. Obtain reasons for disbursement spend that is outside of budget and understand impact on overall job recovery.
• Summarise interservice / inter-divisional income by source and by engagement on a monthly basis. Understand reasons behind large variances in monthly income.
• Summarise interservice / inter-divisional expenses by source and by engagement on a monthly basis. Understand reasons behind large variances in monthly expense
• Monitor the gross margin of the business on a monthly basis and understand key drivers behind significant fluctuations.
• Perform a month return on revenue calculation and understand key drivers behind the calculation.
• Monitor the monthly Power BI heatmap dashboard. Identify key metrics that are driving heatmap indicators outside of the acceptable range. Take action to remediate the factors affecting the heatmap until such indicators fall within the acceptable range.
• Assist head of business in conducting a quarterly business review through re-forecasting revenue and expenditure to year end, understanding reasons for variances in revenue and expenditure against budget and reforecasting the net profit result of the business for the financial year.
• Maintain a monthly low recovery job tracker that lists all engagement below the business’ set target recovery. Obtain feedback from engagement managers and partners as to the reasons behind the low recoveries and action plan to remediate.
• Run the annual divisional budgeting process by obtaining all relevant revenue input sheets and cost input sheets from each division within the company. Review overall budget for reasonableness and participate in budget reviews with head of business and CFO.

Requirements
Requirements 

Qualifications/Recognition of Prior Learning equivalent:

• BCom Accounting Sciences degree
• BCom Hons CTA (would be advantageous)

Work Experience:

• 1 – 2 years’ experience within a management role
• Professional Services experience advantageous
• Proficient in Power BI
• Fundamental understanding of business operation 

Competencies

Technical Competencies:

• Accurate and detail orientated
• Proficient using Microsoft Excel
• Experience with Maconomy (advantageous)
• Behavioural Competencies
• Good analytical and problem-solving skills
• Ability to work as a team member
• Good oral and written communication skills