Assistant Divisional Finance Manager - Edenvale at Shoprite Group of Companies

Purpose of the Job    

The purpose of the Assistant Divisional Finance Manager is to support the Divisional Finance Manager with the operational and strategic financial management of the division. This role includes leading and guiding aligning the service delivery of insurance and the financial control teams with financial strategies with business objectives, ensuring meticulous financial management, and contributing to the overall success of the organization.

As a qualified Chartered Accountant (SA) this role encompasses comprehensive financial responsibilities, including accounting, budgeting, auditing, reporting, financial management practice development, and ensuring adherence to financial processes and regulatory standards. The role requires a proactive, results-driven individual with strong financial acumen, leadership skills, and the ability to navigate diverse financial functions efficiently.

Job Objectives    

General Accounting, Budgeting, Auditing and Reporting

• Partner with the Divisional Financial Manager to prepare and provide guidance on annual Divisional budgets and quarterly forecasts to monitor financial performance.
• Calculate management provisions for interim and year end to ensure all expenses and income are recorded within the financial year.
• Calculate management provisions for obsolete stock to ensure accounting at net realizable value.
• Conduct viability assessments for lease renewals and new store openings, determining whether to renew or close existing store leases and evaluating the profitability of potential new stores.
• Prepare and analyze NCR (National Credit Regulator) and FSRA (Financial Services Regulatory Authority Financial) compliance reporting stats to ensure compliance with governance processes.
• Perform monthly debtors book provision adjustment in accordance with accounting standards.
• Maintain oversight of the interim and year end audit process to ensure compliance with relevant financial accounting procedures or processes.
• Prepare monthly management reports and ad hoc financial reports as and when required.
• Perform variance analysis reporting for management to provide analytical insights into business performance.

Insurance Management and Accounting

• Manage end-to-end insurance accounting process (i.e., reconciling GL to Bordereaux) to ensure alignment and accuracy of data and determine Profit and Loss (P&L) performance of the insurance business.
• Prepare Bordereaux reports to the Insurance License Holder to ensure availability, consistency, and alignment on insurance data.
• Process Insurance cell-captive management accounts.

People Management

• Lead, coach, mentor, and manage the Divisional Insurance and Finance Control team to ensure high competence and delivery of individual and team objectives.
• Lead and articulate overall team vision and strategy in partnership with senior leadership and the team.
• Define the roadmap, prioritisation, and long-term sustainability plan of all strategic activities withing the team.
• Drive overall team maturity and effective resourcing to efficiently deliver on tasks, identifying and encouraging areas of growth.
• Manage overall in the team workforce planning, performance, and new talent acquisition to ensure the team is empowered to achieve operational and project objectives.
• Report to senior leadership on overall projects or workstream progress, budgets, vendor engagements and key challenges.
• Ensure that directives provided by the senior leadership team are effectively implemented and followed through.
• Foster a culture of accountability and efficiency within the team.
• Practice Development: Insurance and Financial Accounting
• Collaborate with the DFM to design, develop and implement sound accounting and insurance practices, processes, ways-of-working and standards to ensure align with industry best practices and company standards.
• Ensure the team adheres to relevant regulations, policies and procedures for audits, accounting and insurance management.
• Oversee insurance and financial control practices developments, relevant training and growth opportunities, providing guidance and mentorship on stakeholder engagements.

Import/Exports Accounting

• Manage end to end monthly GL imports process to ensure the POS is balancing with accounting system to balance the month-end.
• Oversee the stock imports/exports accounting process amongst various African countries to ensure alignment in GL posting.
• Ensure the implementation of new import rules into the accounting system to maintain updated records within the system.
• Prepare BPC input schedules monthly, ensuring alignment and accuracy of data between systems for group consolidation.
• Review financial statements and facilitate sign off prior to audit clearance for compliance and resolve any related audit queries alongside the DFM.

Vendor Engagements and Supplier Support

• Load new vendors/suppliers to the relevant system, ensuring accuracy of details, agreements, and validating relevant documents.
• Resolve and/or oversee the resolution of queries, supporting processes, solutions and projects pertaining to financial management.

Qualifications    

• BCom Accounting degree or an equivalent CA (SA) undergraduate qualification at a SAICA accredited university – (essential)
• Qualified Chartered Accountant (SA) - (essential)
• +1-year post article experience - (essential) +4 years' experience in an accountant role with people management skills, supervising the delivery of an accounting management function - (essential)
• Advanced Microsoft Excel skills - (essential)
• Retail background – (beneficial)
• SAP, BPC and NAV Dynamics or similar accounting – (beneficial)
• Forex exposure experience – (beneficial)

Experience    

Knowledge and Skills    

• SAP, BPC and NAV Dynamics or similar accounting – (beneficial)
• Forex exposure experience – (beneficial)