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Motus is South Africa’s leading automotive group, employing over 16 700 people globally.
Position Overview
Management of Finance staff
- Ensure that the Finance Executive, RFM/ FMs manage the Accountants and other finance staff appropriately
- Ensure that Finance Executive, RFM do regular dealership visits
- Ensure all Finance Executive, RFM/ FMs have proper job descriptions
- Ensure all Finance Executive, RFM/ FMs are aware of policies and procedures to be adhered to
- Quarterly performance appraisals to be done with Finance Executive, RFM/ FMs
- Ensure training is done with Finance Executive, RFM/ FMs and other admin support staff
- Ensure Finance Executive, RFM/ FMs are aware of deadlines and are submitting reports timeously according to monthly deadlines
- Recruit, interview and hire finance staff
- Manage talent and succession planning
- Provide adequate training to all finance staff
Financial Analysis
- Provide the Divisional Managing Director with detailed Management accounts on a monthly basis
- Analyze Management accounts and advise Divisional Managing Director of KPA’s, make recommendations
- Analyze Gross Profit Margins and advise Divisional Managing Director accordingly
- Analyze expenses by comparing to previous year and budget figures and advise Divisional Managing Director, accordingly
- Analyze key expense accounts in detail and ensure procedures are in place to limit wastage
- Ensure Finance Executive, RFMs/ FMs are reviewing Management Accounts on a regular basis and advising Divisional Managing Director of KPA’s not met and expenditure
- Maintain the standard chart of accounts
- Ensure all monies written off are authorized and reported adequately
- Provide Divisional Managing Director with recommendations to achieve profits
- Highlight loss making dealers and assist with decisions regarding long-term viability
- Perform due diligence of potential new businesses and advise Divisional Managing Director accordingly
- Manage financial planning and analysis through creation of reports, software implementation and tools for budgeting and forecasting
Safe guarding Assets & Risk management
- Ensure levels of authority is adhered to
- Implement and maintain sufficient internal controls to safe guard assets:
- Ensure that all physical vehicle stock counts & parts perpetual counts are performed in-line with company policy
- Ensure that cash procedures are in place at dealerships
- Ensure that a proper fixed asset register is maintained, fixed assets are labeled and physically verify assets at least once a year
- Ensure that Capex forms are authorized before ordering assets and that disposals are duly authorized
- Oversee the annual insurance renewal process and ensure appropriate coverage is maintained at all times.
- Ensure that dealerships have sufficient security measures in place to protect assets.
Review Monthly GL recon File (Balance Sheet)
- Review GL recon Files for each Dealership every 2ndmonth
- Ensure Dealer Principal, Divisional Managing Director and CFO gets a copy of the monthly review
- Ensure that all supporting documents are included in the GL recon file
- Ensure that GL recon files are complete and standardized across the Division
- Ensure that all queries older than 30 days are resolved and escalate if necessary
- Ensure that the Divisional Managing Director and CFO are aware of any material problems on the Balance Sheet
- Give guidance on what is expected to be included in the monthly General Ledger recon file and monitor that the files and related information are of a high standard
Specific Role Responsibilities
Review Creditors reconciliations
- Review Creditors Reconciliations on a spot check basis
- Ensure that all items outstanding longer than 30 days are resolved
- Ensure that optimum payment terms or settlement discounts have been negotiated
- Ensure proper SLAs are in place with suppliers
- Ensure that cashflow is well managed
- Ensure that letters to Suppliers with terms and conditions are sent out every 3 months
- Manage and approve all contracts entered into by the dealer
- Ensure that contracts are authorized in-line with the delegation of authority
- Ensure all contracts are reviewed by Motus Retail division’s Legal Department and properly authorized
- Ensure supplier pricing is reviewed at least every 6 months
- Authorize payments and EFT where applicable
- Ensure that preferred suppliers are used where possible
- Review all expenses within the business with a view of reducing costs and improving efficiency.
- All non-business costs must be recovered from the relevant individual.
- Analyze key expense accounts in detail and ensure that procedures are in place to limit wastage
Review Debtors
- Review the debtors age analysis and follow up on all long outstanding debtors
- Be the escalation point for finance teams for debtors’ accounts where set credit parameters have not been complied with
- Directly engage with manufacturer sales teams for any rebate claims denied or not paid
- Ensure that procedures and processes are in place to facilitate accurate and timely recording and submission of warranty claims. Communicate with staff members all minimum requirements (including documentation and parts to be kept for audit purposes) for submission of claims that need to be adhered to
- Ensuring the company policy is adhered to in respect of any credit lines extended to customers and continually reviewing the appropriateness of lines of credit already opened
HR, Payroll and commission structures
- Work with Human Resources to ensure appropriate legal compliance
- Draft commission structures to be approved by the Divisional Managing Director on a regular basis
- Ensure commissions are properly measured on an ongoing basis
- Ensure that all staff, Managers and Dealer Principals gets a copy of the final commission structures
- Ensure that commission structures drive the correct behavior in terms of business approved KPI’s
- Review increases before submitting to Divisional Managing Director, CFO and CEO for final approval
Ensure Policies & Procedures are adhered to
- Ensure that there is proper segregation of duties
- Access Policies and Procedures on a regular basis to ensure objectives are still achieved
- Ensure that new Policies & Procedures are implemented with immediate effect
- Report all Policies and Procedures not adhered to immediately
Review systems and internal controls regularly
- Access Internal controls on a regular basis to ensure objectives are still achieved
- Ensure that new internal controls are implemented with immediate effect
- Report all internal controls not adhered to immediately
- Ensure that specific journals and credit notes are authorized
- Be the first point of contact for any matters that need to be escalated upwards by internal or external auditors
- Sign off on all internal and external audit reports and ensure that any findings are addressed timeously and remedial action is applied across operations
- Action and resolve any control deficiencies identified or pointed out by auditors or employees
- Perform dealer visits and discuss with management areas of concern picked up or highlighted during dealership reviews and visits
Review Budgets and Forecasts
- Provide finance staff with appropriate parameters
- Ensure annual budgets and quarterly forecasts are done properly by Finance Executive, RFM/ FM’s
- Review annual budgets together with the Divisional Managing Director
- Present budget and forecasts to CEO and CFO
Taxation:
- Provide guidance to finance teams for interpretation and application of Taxation laws and provisions
- Review deferred tax and current tax entries that need to be processed to retained earnings for each dealer
- Review of tax computations reported to Motus in Hyperion packs
- Be up to date with new taxation legislation that has an implication to the group’s financial information or reporting
- Provide the Retail Head Office with completion of tax computations for calculation of provisional tax payments
- Review VAT, tax and PAYE and ensure accuracy, completeness and validity. Also ensure that recons are performed by FMs/ Accountants on a monthly basis.
Reporting
- All reporting is ultimately the responsibility of the Divisional Managing Director for the specific division
- Ensure timeliness and accuracy of financial and management reporting
- Ensure that all deadlines are met without exception
- Ensure the Dealership Accountants and Finance Executive, RFM/ FMs are trained on reporting
- Review and sign off of weekly / monthly flash and final reported numbers together with the Divisional Managing Director
- Conduct monthly analytical reviews of financial results and compare against budgets / prior year / industry movements / manufacturer targets and benchmarks
- Providing guidance to Finance Executive, RFM & FMs on application of MOTUS accounting policies and taking the lead on complex accounting / finance related matters
- Ensure that monthly reported figures accurately and fairly present the results of the business operations
- Communicate with IT, business heads and finance teams on any issues or challenges identified relating to the DMS
- Preparation of annual budgets and forecasts based on inputs from EXCO and Dealerships
- Operationalize and interpret budgets for DPs and departmental heads
- Assist in preparation of annual financial statements by facilitating an easy and efficient flow of information between Head Office, the auditors and dealership accountants
- Review and approve monthly uploads of the Hyperion financial information uploaded
- Drive the BBBEE compliance and improvement in scoring
- Measure, monitor and appoint staff in line with EAP targets
- Drive all sustainability projects within the Division and look at projects at improving greening initiatives with the dealerships
Other
- Enhance and implement financial and accounting processes, tools and controls
- Responsible for all ad hoc queries received from Motus
- Assist Finance Executive, RFM/ FMs with queries that they cannot get resolved timeously
- Report all risks to Divisional Managing Director/ CFO timeously
- Be pro-active to design and implement more efficient ways of working for Dealership Accountants and Finance Executive, RFM/ FMs
- Ensure that dealerships adhere to all statutory and regulatory requirements
- Ensure that the Companies best interest is always first priority
- Due to the responsibility of your job, there are always going to be issues outside of your job description that need to be addressed that you will be held responsible for
Qualifications and Experience
Knowledge, Skills and Qualifications:
- BCom (Hons) in Finance, CA (SA), CIMA or equivalent.
- In depth knowledge of IFRS and application thereof.
- Knowledge of the South African Income Tax Act and VAT Act.
- Computer proficiency (Advance Excel, Word, PowerPoint, accounting packages).
- DMS knowledge (Autoline, Drive, Automate) is an advantage.
- Hyperion experience is an advantage.
- Ability to drive and implement new projects and EXCO resolutions. Must be able to operationalise Board and EXCO resolutions and have the ability to report on operational implications, adoption and take up within operations and provide recommendations.
- Ability to interpret and analyse complex operational and financial business scenarios.
- Minimum of 5 years’ experience in a senior finance role, 2 of which must be at a strategic level within a dealership Group.
- Strong leader with good business acumen and the ability to steer and mentor a finance team and advise & support the Franchise Executive as well as draw the best outputs from the team and individual team members.
- Participate in key decisions pertaining to strategic initiatives, operating model and operating execution