Management Accountant (Durban) at Safal Steel

Main purpose of the position:

• Responsible for generation and production of accurate and timely management reports, annual financial statements, and budgets. Analyse key financial information to optimize financial planning, assist management with financial decision-making and help develop and implement strategies to reduce businesses' operational and production costs.

Key responsibilities:

Management Accounting and Reporting

• Provide accurate and timely financial management accounts reports, balance sheet, cash flow statement and others finance reports within agreed timelines.
• Reviewing of monthly Flash to ensure accuracy reports with commentaries
• Review product pricing to ensure accuracy.
• Review management reports and analysis of key trends.
• Participate in all reviews of organisational financial performance and take actions for improvement where necessary.
• Conducting in-depth financial analysis to guide decision-making processes, including cost and variance analysis.
• Assisting in the development and execution of financial strategies to support the company's growth objectives.
• Reviewing and analysing cost reports for all plants
• Working closely with the plant controllers to ensure accurate and effective cost accounting systems.
• Liaising with other departments to understand and control production costs through monthly cost reviews.
• Manage monthly forecasting process to ensure submission of timely and accurate profit/loss forecasts including commentary provision.
• Coordinate with HODs for timely Preparation of Board pack, Quarterly review pack and other reports as and when required.
• Support finance head for other financial decision-making matters.
• Regularly conduct meetings with plant controllers for financial improvements
• Assisting with the audit preparation work to allow for timely completion of the annual financial statements and corporation tax returns.

Budgetary & Controls

• Timely and accurate preparation of annual budget. Co-ordination with other Finance Team on timely provision of data for budget preparation
• Monthly analysis of actual and budgeted costs
• Collaborating with cross-functional teams to develop financial forecasts and Annual business plans.
• Liaise closely with budget owners to provide a comprehensive accounting support service, including the provision of financial information, analysis to budget owners and review of business cases.
• Analyse variances and explore potential problems with budget owners, making recommendations and executing those recommendations.
• Identifying opportunities for cost control and efficiency improvements to contribute to the company's profitability.

ERP System Integrity and Audit Responsibilities

• Ensure the accuracy, completeness, and timeliness of financial data within the ERP system (e.g., SAP).
• Collaborate with the relevant Enterprise Business Analyst and finance teams to maintain robust internal controls within the ERP environment.
• Identify and resolve discrepancies or anomalies in ERP-generated reports and financial records.
• Participate as required in ERP upgrades and testing, to ensure alignment with financial reporting requirements.
• Provide training and support to finance users on ERP functionalities and best practices.
• Ensure ERP system processes comply with internal controls and audit requirements.
• Identify and document ERP system risks and recommend mitigation strategies.
• Conduct periodic audits of ERP data to ensure consistency, accuracy, and compliance with financial policies.
• Collaborate with IT and compliance teams to address audit findings and implement corrective actions.

Duties and Safeguard Applications

• Prepare data request and attend to all queries resulting therefrom timeously
• Attend ITAC reviews of data request

Statutory Data Requests

• Completion of statutory data requests from Statistics SA or other related government departments

Technical advice to departments

• To provide required information/reports to other departments as and when necessary
• Provide proactive financial advice to management/finance team and budget owners, actively promoting improved financial awareness.
• Ensure compliance with financial procedures and to ensure a sound system of financial controls.

Requirements
Qualifications required:

• Minimum academic qualification: Bachelor’s degree in commerce, Finance, Accounting or Equivalent
• Professional registration: CA(SA) or CIMA

Experience required:

• General work experience (years): 15 years
• Specific to the position (level/discipline/years): 10 years
• Industry: Manufacturing