Finance Manager (Accounts Payable) at RCL Foods

The suitable incumbent will be required to:

• manage the respective supplier relationships from a finance perspective by ensuring all supplier accounts are reconciled and paid according to terms and agreed pricing conditions.
• financial reporting requirements driving compliance with VAT, IFRS, and company policy and procedures.
• execute the strategic objectives as defined by the business.
• lead and drive performance of the centralized creditor's department while monitoring the day-to-day execution of tasks and deadlines.
• project management
• The role will be based in Westville the National officer and report to the Finance Executive. 

Minimum Requirements    
Qualifications

• B.Com (Accounting); Qualified CA (SA) or CIMA

Skills and Experience 

• 6 to 8 years of relevant experience, of which at least 5 years are in a management or supervisory position
• Proven experience in a SAP Environment
• Experience with trade creditor reconciliation review
• Understanding of IFRS standards and the Income Tax and VAT Act
• Advanced tax/vat exposure would be an advantage
• SAP R/3 (FI, SD, and MM modules) is preferable
• Commercial and financial business principles and practices including internal controls
• An understanding of multiple key performance indicators, inter-relationships between finance, customer team, and commercial, and bottom-line sensitivity

Duties & Responsibilities    
Creditor Reconciliations

• Perform independent reviews, highlighting key risk areas and driving prompt resolution of all queries with the business and supplier.
• Review ageing of reconciling items (claims, etc.) and report risk areas that need to be escalated to the Shared Services Executive.
• Review and sign off all intercompany balances and ensure that reconciliations are prepared, reviewed, shared, and paid monthly
• Ensure supplier accounts are reconciled and paid according to terms and agreed on pricing conditions.
• Ensure that the creditor's ledger is maintained according to company policy and IFRS.
• Complete working capital impact for early settlement of creditors.
• Ensure financial disciplines and internal controls are maintained
• Ensure all queries and claims are followed up and cleared timeously.
• Engage with suppliers and the relevant Finance/Operations/Procurement Manager where necessary to resolve difficult queries and escalate to the Shared Services Executive should there be any unresolved disputes.

Month end

• Review and sign off nonvendor account balance sheet reconciliations 
• Review journals posted by the team to ensure these are valid and that timing variances are cleared within 30 days.
• Ensure that monthly close-off accounts fairly reflect the monthly results of the business.
• Define, measure, analyse, and explain variances.
• Ensure that all transactions for month-end close have been processed as per month end checklist and are correct and valid 
• Communicate delays with the Finance Executive: reporting that impact on month end 
• Confirm GRIR balances are cleared adequately prior to month end.
• Provide month-end support to the AP Accountants and Regional Financial Managers

Cash forecasting

• Review daily and more frequent cash forecasts ensuring that payments forecasted are reasonable
• Provide variance analysis for forecast vs actual deviations
• Proactively manage changes to the forecast

Financial reporting

• Prepare monthly reports to Finance Executive on key reporting areas 
• Assist with other financial reporting requirements e.g., financial statement preparation and review.
• Revenue cut-off adjustment review
• Prepare/review IFRS9 calculations

Ad Hoc Functions/Projects

• Lead ad hoc projects and represent finance on major projects involving pricing, account allocations, testing etc.
• Obtain advanced SAP knowledge on relevant accounting process flows
• Drive continuous improvement within the team including automation initiatives e.g., automation of recon tool, queries aging and reporting, clearing of vendor invoices against payments, etc.
• Identify risks within the relevant departments and drive the required resolution.
• Identify and drive material master data errors correction with the respective master data manager.
• Sign off on banking requirements
• Liaise with Internal and external auditors and follow up on any audit findings.

Internal Control

• Continuously identify and pursue opportunities to improve control procedures within the Accounts Payable function
• Follow up on queries and ensure that corrective action is taken by responsible team members
• Ensure compliance with approved procedures by means of control checks performed by the Accounts Payable team.

Strategic and Technical Contribution 

• Provide strategic input to the AP Team
• Ensure all internal and external stakeholders are receiving the correct level of services in accordance with agreed service level agreements.
• Plan and develop best practices, systems, processes, and procedures to enable continued improvement that meets the needs of the Group in times of change.

Staff management

• Manage staff functions, ensuring performance levels are met and protocols are adhered to.
• Coach and support staff where necessary to achieve objectives.
• Identify personnel requirements and participate in the selection process.
• Lead and develop staff within the context of the Labour Relations Act, Employment Equity Act, Basic Conditions of Employment Act, and Skills Development Act.
• Manage and deliver on career development and succession plans to enable the development of a future generation of leaders and specialists and ensure optimal turnover and retention levels are maintained.
• Champion staff training and development through the utilisation of available training opportunities or contributing to the development of new training solutions in collaboration with national training specialists.
• Lead the team towards meeting the strategy and targets through regular communication and utilisation of the full organisational talent management toolset.
• Conduct regular meetings and ensure that records are kept and shared across the team and that action plans agreed to within team meetings are delivered upon.

Closing Date    
2023/05/21