Business Unit Financial Manager

SUMMARY:
To manage the financial and administrative functions for the Business Unit in line with Divisional objectives in a Manufacturing Company.

POSITION INFO:

5 years in a similar role Essential

BCom/ Business Administration Degree

CIMA

General Financial
Management:
• Provide financial analysis and support to management and all operational areas of the business.
• Manage and comply with internal controls.
Budgets: • Prepare operational budgets.
Forecasts: • Review all forecasts.
Financial Pack: • Review the monthly Business Unit financial pack and identify variances.
• Prepare financial reports and returns (Monthly BU/Plant Financial Pack).
Flash Results: • Review the automotive division flash results and action variances.
• Compile the BU/Plant flash results and analyse variances.
CAPEX: • Analyse the Divisional capex reports and review the BU/Plant capex reports.
Weekly Sales Report: • Review weekly sales reports.
General: • Participate and provide relevant information for board meetings and Divisional monthly or bi-monthly meetings.
• Comply with IFRS.
General Ledger: • Review balance sheet account reconciliations.
• Review and authorise Journal entries.
Audits and year-end processes:
• Prepare and plan year-end statutory audit (external and internal) in line with the consolidated audit plan.
• Prepare and review year-end reporting accounting and Tax Packs.
• Follow up and action audit findings.
• Prepare and update corp tax schedules.
Banking: • Manage banking systems (users, passwords, profiles, etc.).
• Approve all new creditors (local and foreign).
• Release weekly bank transfers (creditors and wages).
Cash Management: • Source financing to meet budgeted cash-flow requirements.
• Monitor daily cash positions and cash flows to ensure settlement and maximise
performance.
• Manage cash flow and working capital.
Forex: • Manage Forex risk.
• Manage the purchase Foreign Exchange Contracts (FEC''''s).
• Review Forex Forecasts.
• Authorise foreign payments.
Costing: • Make recommendations for the financial recovery on distressed parts.
• Calculate and propose price increases (per Customer for Sales Dept).
• Negotiate and agree price increases with major customers.
• Manage costing department ensuring BOM accuracy and related variances(MUV, PPV’s,stock variances).
CAPEX: • Perform project appraisals and valuations.
• Review CAPEX spend.
Fixed Assets: • Reassess useful life and residual value of fixed assets.
Statutory Returns: • Ensure compliance with the general tax provisions.
• Review statutory returns (VAT, PAYE, SDL, UIF, WCA).
• Prepare and submit Government Incentive Applications