Senior Manager: Finance at Rand Refinery

PURPOSE OF THE POSITION

• The purpose of this position is to effectively manage resources, staff and execute duties, which include all financial reporting in accordance with prescribed legislation and standards, within the financial department of Rand Refinery.
• Responsibilities include the management of month-end closing, managing the audit processes and leading the development and implementation of effective processes, procedures & controls to ensure accurate and timeous recording and reporting of financial information.
• The position includes the responsibility for all direct and indirect taxation matters of the company. The Senior Manager: Further, engages in the financial analysis in such areas as forecasting, budgeting, engaging in cost.

MAJOR RESPONSIBILITIES

FINANCIAL REPORTS AND ACCOUNTING

• Coordinate the production of financial reports and accounting for the company results, including the financial position and cash flows on a monthly basis for Exco and Shareholders.
• Compile key business metrics and report to them to management.
• Calculation and recommendation of dividends payable.

GROUP ANNUAL FINANCIAL STATEMENTS

• Produce Group Annual Financial Statements at yearend by co-ordinating all activities applicable to a successful closure to financial yearend, ensuring that these comply with International Financial Reporting Standards
• Coordinate the production of the Annual Integrated Report and responsible for the technical evaluation thereof.

AUDITING AND REPORTING OF FINANCIAL INFORMATION

• Managing the audit processes (external and Internal audits) and leading the development and implementation of effective processes, procedures & controls to ensure accurate and timeous recording and reporting of financial information.

PAYROLL MANAGMEMT

• Manage remuneration and benefits including two payrolls and benefit funds such as medical aid, pension schemes as well as the investment management and administration of post-retirement medical aid.

TAXATION MANAGEMENT

• Responsible for all taxation matters including Income Tax, VAT, DWT, DRC, PAYE of the company and also the subsidiaries.
• Ensure that all taxes are up to date and that compliance is adhered to.
• Continuous study of changes to legislation and accounting standards to ensure compliance by the company.

JOINT VENTURES

• Maintain accounting records of local and foreign subsidiaries and Joint Ventures, including taxation matters and producing the annual financial statements.

BUDGET MANAGEMENT

• Budget management by coordinating balance sheet related inputs and liaise with the costing department on all budget related matters.
• Prepare the budget cash flow statement and assist with the production of the annual budget book.
• Manage and assist with all ad hoc technical accounting projects.

FINANCIAL POLICIES AND PROCEDURES

• Maintain a documented system of accounting policies and procedures.

CASH MANAGEMENT

• Cash Management: Forecast on cash flow positions, related borrowing needs and available funds for working capital.
• Ensuring that there are sufficient funds to meet on-going operational and capital investment requirements.
• Maintain bank relationships; invest funds; recommend appropriate dividend declaration based on historical dividend patterns and expected cash flows.
• Ensure compliance to the Delegation of Authority for all investments.
• Oversee the extension of credit to customers.

FINANCIAL ANALYSIS

• Engage in on-going cost reduction analysis in all areas of the company.
• Review the performance of competitors and report on key issues to management; Interpret the company’s financial results and recommend improvements activities.
• Participate in target cost activities to create products that meet pre-determined price goals.

CAPITAL BUDGETING

• Manage the capital budgeting process, based on constraints analysis and discounted cash flow analysis.
• Create additional analysis and reports as requested by management.

PEOPLE MANAGEMENT

• People management including performance, continuity, succession planning and training.
• Management of cash management, debtors, creditors, management accounting, payroll and procurement.

NON-BULLION INSURANCE

• Responsible for the Non-Bullion insurance.
• Ensure compliance to all the insurance regulations and annual renewal process.

Requirements

MINIMUM REQUIREMENTS

• Tertiary qualification (3-year degree or higher) and 10 to 15 years’ experience
• Financial Statement knowledge: CA(SA) knowledge level of legislation, regulations, income tax, consolidations, international finance and mergers and acquisitions
• Risk Management, including SOX requirements.
• Remuneration management: Salary package structuring, all payroll related legislation, remuneration and HR systems, benefit funds (e.g., pension, medical, group life etc.
• Specialist financial knowledge to interpret financial information for ad hoc projects.

SKILLS AND KNOWLEDGE

• Computer knowledge; SAP, MS office –Outlook, Word, Excel, IFRS and Taxation.
• An ability to coordinate, prepare and produce accurate meaningful financial reports for Rand Refinery and stakeholders.
• An ability to extract the most from human capital in a productive and positive manner. Conflict Management skills. Provide leadership and guidance to the reporting team.
• Focus on results through quality and safety awareness, managing work, planning, and organising, decision making and customer focus.
• Express potential through adaptability, applied learning, initiating action, innovation, impact, and work standards.
• Interact effectively through communication at all levels, building relationships, negotiation and gaining commitment.
• Achieve goals by aligning performance for success, developing others, facilitating change, monitoring information, inspiring others, information monitoring, meeting leadership and participation and follow up.