Role Purpose:
Responsible for all Country Finance related issues including Controlling, Accounting, Local statutory, Treasury, Tax and Finance Business Partner to the Country GM, responsible for providing financial strategic support to both the Aftermarket Business and to the Manufacturing and Purchasing Team also leading the working capital/Capex management.
Key responsibilities:
- To develop and maintain a strong internal control environment in South Africa by ensuring that strong controls are implemented and adhered to within the South African Group. To manage and train the Finance Department’s employees to ensure the delivery of top class performance;
- To create and develop a top world class Finance Team;
- To prepare and communicate Group Annual Financial Statements (IFRS);
- To calculate and file group income taxes twice a year;
- To prepare and communicate financial results to the South Africa management board on a monthly basis (USGAAP), ensuring they are valid, accurate, timely and complete in all material respects;
- To calculate and submit local group tax liability to the US head office on a monthly basis;
- To oversee the local group’s Treasury function;
- To lead the local groups Finance Shared Services Centre;
- To ensure compliance with relevant statutes, standards, policies etc;
- Finance Business Partner for the Country GM and local management team including regional sales directors, ensuring compliance with local and group accounting policies, supervising all accounting functions related to the preparation of financial statements, business planning, budgeting, expense control, analyzing and making recommendations about the profitability of the business;
- Responsible for working capital management;
- Responsible for Capex management;
- Responsible for setting up and maintaining the correct level of inventory per product line;
- Comply with all Environmental, Health and Safety requirements as advised by SHERQ department induction, policies and procedures;
- Support the business with BBBEE compliance initiatives;
- Participation in the company’s provident fund meetings;
- Represent top management in the Employment Equity meetings.
Reporting To: EMEA Executive Director Finance
Direct Reports: Directly managing a Team of 10
Required Skills:
- Able to work efficiently in a matrix organization and manage a remote and diverse team;
- Able to understand and influence the country local complexity but also able to convey to the Leadership the message in a simple, clear and crisp way in order to focus on key priorities;
- A good knowledge of SAP and Hyperion Systems;
- A very good knowledge Cost Accounting and Supply Chain key operating matrix
Required Experience:
- Minimum 5 - 8 years’ experience in a similar role or in a Finance Director role;
- CA (SA) designation or similar qualification;
- Previous Manufacturing or Supply Chain exposure.
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Job Purpose:
To prepare and communicate financial results to management on a monthly basis, ensuring they are valid, accurate, timely and complete in all material respects. To ensure compliance with relevant statutes, standards, policies, etc. To develop and maintain a strong control environment by ensuring strong controls are implemented and adhered to. To manage and train the Finance Department’s employees to ensure the delivery of top class performance. To set standard costs that are in accordance with group policies and that approximate actual costs. To monitor and manage actual margin performance through variance and other analysis and suggest measures to rectify if necessary. To research and assist in setting selling prices and rebates.
Key Responsibilities:
Financial Management
- Maintain and ensure integrity of books of account, payroll and financial accounting.
- Ensure financial reports comply with the requirements of Federal-Mogul.
- Ensure that financial reports are presented accurately and timeously.
- Ensure that financial results and risks are analyzed in detail and reported at board meetings.
- Ensure that Hyperion submissions are completed and submitted timeously.
- Review balance sheet regularly.
- Review provisions with special reference to the rebates allocated to each customer.
Inventory Management
- Ensure that procedures and controls are in place to mitigate any risks in terms of accuracy of inventory valuation.
- Ensure that procedures and controls are in place to reduce the risk of inventory losses throughout the supply chain.
- Report regularly on the above.
Stock Costing
- Control of standard and actual costing of stock in Hyperion.
- TV values.
- Variance analysis.
- Assistance with factories’ approach to pricing/costing.
- Margin analysis and management.
Sales Pricing
- Throughput analysis.
- Price sensitivity analysis.
- Implementation and monitoring of revenue improvement program.
- Implementation of controls over pricing, informing affected parties of these controls and monitoring to ensure adherence to these controls.
- Rebate and pricing strategy.
Budgeting and Forecasting
- Coordination and preparation of annual budgets.
- Assist other departments with the compilation of their budgets.
- Analysis of annual budgets.
- Preparation of monthly forecasts.
- Generate strategic financial information and report regularly.
Cash Flow and Working Capital Management
- Analyse cash flow and ensure corrective actions are implemented where necessary.
- Ensure rebate payments are accurately accounted for and disbursed timeously
Management of Expense Budget
- Adhere to the expense budget.
- Ensure that the operational expenses do not exceed budget.
- Ensure that expense items are allocated correctly.
Implementation and Management of Systems, Processes and Internal Controls
- Ensure that policies and procedures are formulated, communicated and implemented and adherence thereto is monitored.
- Ensure effective internal controls are in place and comply with FM guidelines.
- Ensure that risks are identified, assessed and action plans put in place to mitigate risks.
- Ensure complete compliance with Sarbanes-Oxley.
- Ensure that all user groups fully understand the workings of the IS system and accurate recording is complied with.
Leadership and People Management
- Develop an organizational structure to obtain the most effective utilization of personnel.
- Populate the above structure in line with FM Port Elizabeth’s Employment Equity plan.
- Provide management guidance to employees on a regular basis.
- Ensure performance charters exist for every employee and reviews are carried out twice a year.
- Establish personal improvement and development plans for each employee.
- Liaise and partner with internal customers ie: Finance Director
Qualifications / Experience / Skills
- CA (SA) not a pre requisite, but equivalent.
- SAP experience not necessary but advantageous.
- At least 5 years experience at a senior level
- Exposure to financial management in both manufacturing and distribution
- Experience with IFRS, US GAAP and Tax requirements.
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