Job PurposeTo support the Group with cost control and containment, working capital management and financial accounting. Review and analyze the Division's financial information in order to provide effective finance reports and ensure compliance with planned reporting cycles and adherence in terms of IFRS and other group financial regulations including PFMA and Treasury.Duties & ResponsibilitiesStrategic Management:• Develop business unit long-term strategy aligned to the Division's strategy.• Translate the Division's strategy objectives into a Business Unit Plan.• Monitor trends and benchmark best practices both nationally and internationally for complexity, capability, and cost competitiveness.• Provide input to the creation and review of financial policies.• Participate in the creation of financial procedures.Operational Management:• Analyze costs, pricing, variable contributions, sales results, and Division's actual performance compared to budget and forecast.• Review and report any adverse deviations of revenue and expenses against budget per business unit to the Divisional Executive.• Produce accurate and timely management accounts analysis.• Review and approve monthly balance sheet reconciliations.• Perform spot check reconciliations to ensure completeness and accuracy of reconciliation content.• Analyze and report on financial statements reconciliations and benchmark implications and results.• Review management accounts, budgets, and forecasts monthly, quarterly, and annually and guide Divisional Management.• Facilitate implementation and act as change agent for the implementation of business process improvement projects.• Provide commercial support function to the Division.• Review monthly cash flow forecast through to year-end and give management reasonable assurance on accuracy and reliability.• Review weekly Divisional under/over-recovery reports and ensure that plans are in place to mitigate under-recoveries.• Review monthly variance reports and ensure mitigation plans are implemented and monitored for negative variances.• Review bids/opportunities and ensure financial guidelines are adhered to and risks have been costed, and high-level mitigation controls are in place to achieve acceptable profitability.• Manage the Project Accounting Department.• Review in detail the income statement, balance sheet, and cash flow to ensure accurate financial reporting and audit reports.• Ensure accurate, complete, and valid weekly sales forecasting to monitor progress against budget.• Ensure enough working capital and long-term availability of working capital to meet business needs.• Provide high-level feedback to Divisional Executive Committee with respect to Statutory reporting status: i.e., IFRS, Tax, VAT, PAYE, litigation issues.• Ensure timely workshops and/or training of Divisional Exco and Finance officials.Governance & Audit:• Adhere to legislation e.g. Companies Act, IFRS, PFMA, PPPFA, and contractual agreements.• Evaluate financial processes and implement corrective actions to ensure alignment and standardization within the Group.• Review general ledger activities for compliance with regulatory standards.• Engage with the Divisional Management and auditors to evaluate risk, internal controls, and assist the finance team to implement corrective action.• Review and ensure that the Division's financial and management statements are prepared in accordance with Group guidance, International Financial Reporting Standards (IFRS), and Denel Policies and Standard Operating Practices.• Review accounting system set of accounts to ensure built-in controls are updated with every change in regulations.• Advise on changes to internal documents to ensure better internal controls.• Ensure Statutory and Taxation compliance.• Participate in internal and external audits including timely closure of audit findings.• Implement agreed remedial measures on completion of audits.• Receive measurable unqualified audit reports timely.• Identify, investigate, and report Fruitless, Wasteful, and Irregular Expenditure within Finance.• Provide accurate and timely financial reports in accordance with Denel policies/procedures and PFMA requirements.• Evaluate operational and financial reports to improve accuracy and relevance.• Interpret financial information to managerial staff while recommending further courses of action.• Provide timely inputs on National Treasury, STATS SA, and SARB templates.• Ensure accurate, complete, and valid weekly, monthly, and quarterly liquidity management reporting and forecasting.Financial Management:• Develop budget with regard to all operational and capital expenditure requirements as per the requirements of the organization.• Manage cost center expenses and capital budget by controlling operational and capital expenditure costs to remain within budget.• Develop and manage the charging model and recovery process from the business units.• Continuously seek opportunities to reduce costs.Desired Experience & QualificationA qualified Chartered Accountant (CA)• Registered with the South African Institute of Chartered Accountants (SAICA) or ACCA• 10 years' financial management experience in a cost and financial accounting environment in a medium to large Company doing:- Financial accounting-budgetary process,- Management accounting-variance analysis processes and- Project accounting.• 2 years of the above experience in a supervisory/managerial capacity.• Proven experience in business process improvement.• Competent knowledge of International Financial Reporting Standards (IFRS), Public Finance Management Act (PFMA), and Preferential Procurement Policy Framework Act (PPPFA).• Competent knowledge of Statutory Financial Regulations e.g., VAT, Company Tax, BBBEE.• Advanced knowledge of financial accounting, project accounting, management reporting, and cost accounting processes.Package & RemunerationMarket RelatedJob-related Personal AttributesAbility to perform under severe stress and pressure• Business acumen• Critical thinking for problem solving• Creating a culture of engagement / motivate others• Effective Business Communication – verbal & written• Inspire trust and living the Denel Values• Strategic Orientation• Value chain optimization and business process analysis
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