Head: Operational Finance (Parktown) at Rand Mutual - RMA

Description

THE JOB AT A GLANCE

• As the Head: Operational Finance will be responsible for overseeing the day to day, operational finances of the Group.
• You will be responsible for ensuring seamless transaction of all operational finances whilst ensuring compliance with all the relevant standards and company policies and procedures.
• You will also be responsible for overseeing the procurement and facilities teams.

WHAT WILL YOU DO?

• Oversee unit finances and assets:
• Develop strategic and operational plans in line with the budget
• Ensure that planning takes place in line with standards, and that necessary compliance controls are implemented
• Discuss and recommend divisional budgets to Exco
• Monitor unit budget on an ongoing basis
• Ensure that all departmental planning is carried out on a regular basis, as issues arise, or in advance of anticipated needs
• Review monthly cost centre reports
• Submit monthly reports to top management
• Review the analysis of department expenses and preparing monthly department expense reports
• Monitor and review recoveries (labour, overhead, 3rd part recoveries)
• Review monthly & quarterly cash flow forecasts.

Oversee Debtors and Collections, and Tax:

• Review processes followed by the debtor manager to ensure targets are achievable relating to premium collection
• Review and obtain reasons for long outstanding debtors and procedures to be performed to ensure reduced
• Review the reconciliation between clientcare, fincare, ability and Excalibur to confirm billing accuracy and completeness
• Sign term letters for members and refunds
• Review and maintain refunds higher than R25K for AML purposes
• Ensure overall compliance and adherence to company policies and procedures
• Ensure compliance with latest tax legislation and correct application of the tax act e.g. travel reimbursive rates.

Staff Management:

• Allocate tasks to staff
• Develop KPA for staff
• Ensure that staff is trained to carry out duties
• Set goals for own finance team
• Do performance management and address below standard performance
• Daily and weekly supervision of subordinates through informal and formal discussions
• Implement and use the performance management system fully in order to monitor the performance of subordinates
• Liaise with HR on staff related issues
• Identify training requirements for staff, through effective staff management and assist them in meeting their training requirements, by helping to arrange suitable training for them
• Draft staff work plans and ensure implementation
• Attend relevant industry related committee – international forums
• Develop strategic and operational plans for the unit
• Ensure implementation of the plans by supervising staff
• Monitor and review plans on an ongoing basis
• Draft, develop, maintain and implement policies and procedures in relevant competency
• Maintain relationships with the CF, banks, SARS, Broker/ED and any other relevant stakeholders including management.

Oversee the commissions function:

• Implement and maintain a set of Comprehensive financial Policies and Procedures
• Review the reconciliations for payments to be made- Pensions, Claims, commission and funeral and confirm accuracy, completeness and validity thereof
• Review the reversal report and obtain explanations
• Review of the commission and funeral reports including trend analysis
• Review reconciliation between modules pension, fincare and ability
• Review unallocated funds report.

Oversee the Procurement and BEE function:

• Provide strategic thinking and contributions to crafting long term Procurement business plans
• Provide guidance on the cost effectiveness principles in planning and delivery to contribute to achievement of divisional financial targets and own cost reduction targets
• Manage allocated budget through monitoring and seeking cost effective ways to achieve departmental goals
• Ensure alignment to business objectives
• Track and report key functional metrics to reduce expenses and improve margins
• Oversee risk management regarding supply contracts and agreements
• Ensure control spend and the creation of long-term savings on procurement costs
• The execution of procurement strategies
• Provide guidance during the RFQ processes review the reports and provide guidance, in designing a checklist and what items to include
• Review supplier database and sign off on changes every 5 years
• Provide guidance during the company’s BBBEE verification process
• Oversee the management of the BBBEE scorecard across business activities and opportunities for each pillar
• Review all annual submissions related to the portfolio
• Provide guidance and play an active advisory role to business on Employment Equity, Diversity, Enterprise development and preferential procurement
• Review and sign off policies, practices and processes that affect BBBEE within Company
• Review BBBEE spending against targets set up for various departments and divisions, including ensuring the accuracy of such information
• Review and sign off the Employment Equity Plan
• Report to the DOL progress on company score.

Oversee the facilities function:

• Ensure that Facility manager follows up on all queries are resolved relating to the building including but not limited to:
• Management of the internal administration of the company
• Management of all assets for company and regions
• Management of access to the buildings in terms of security
• Ensure that health and safety measures are in place
• Oversee the coordination of air conditions, Toilets, Canteen, Transport
• Ensure that staff has a safe building to work in
• Ensure the building project will be completed.

Reporting and participation in various forums/committees and providing compliance support:

• Participate in and represent Finance on various forums and committees:
• Attend quarterly Audit committee
• Board – on request
• Attend investment meetings
• Ad hoc meetings
• Attend Risk register meetings and keep updated
• Adhere to internal controls
• Timeously produce reports for all committees
• EXCO - Monthly
• OPSCO – Monthly
• Direct activities to produce financial reports monthly which reflect the organisation’s actual performance
• Ensure that proposed new products are researched to evaluate financial viability and to forecast performance; Present such reports to top management
• Ensure compliance with mandatory requirements and all applicable international and bilateral agreements
• Receive and update comments on agreements on an ongoing basis or on demand
• Act as a Public officer by ensuring that tax matters are up to date and that all tax and vat returns submitted
• Act as Money laundering Reporting Officer
• Ensure that all work is performed in terms of required standard and regulation
• Ensure that all relevant insurances and licenses for the Group are in place
• Ensure timely submission of various periodical reports, highlights of the previous month’s reports
• Ensure external audits are completed on time and are successfully coordinated
• Perform any other processes important to identify any fraudulent activities within the Group.

Project Management:

• Review the projects scope high level ensure process is adequate
• Attend meetings when required, provide inputs
• Allocate resources to projects and review outputs
• Plan and manage projects within budget.

WHAT YOU'LL BRING TO THE TABLE?

• CA(SA)
• 8 years post articles experience in accounting field, at a management role
• Background knowledge of financial sector and insurance industry
• Above average IT skills