About Reflex
Established in South Africa 23 years ago, Reflex Solutions has quickly grown into a reputable ICT solutions provider with a proven track record of renowned ICT solutions in the retail-sector and a strong FNO partnership network. We boast a team of highly experienced technical professionals, empowering us to deliver quick and high-quality service offerings for building and managing the backbone that propels our customers' businesses forward. We currently provide ICT solutions to over 500 retail outlets, as well as services to the Property Management, Hospitality, Logistics and Legal sectors.
About the role
The Financial Manager: Costing is responsible for managing and analyzing the costs of providing telecommunications services. This role involves tracking, recording, and analyzing cost data to ensure accurate financial reporting and to support strategic decision-making. The FM will work closely with various departments to gather necessary data, prepare cost reports, and provide insights to optimize cost efficiency. This role provides critical support to the CFO and managers through detailed financial analysis and insights, driving business performance and ensuring the accuracy and integrity of financial information.
Key duties and responsibilities
Budgeting and Forecasting
Lead and manage the preparation of the annual budget, including cost forecasting, across the organisation.
Consolidate financial data from all cost centres and profit centres into two primary business units.
Provide detailed cost and budget analysis to support budgeting, forecasting and decision-making activities.
Performance Tracking and Analysis:
Track and report on budget variances, providing explanations for significant differences.
Engage with relevant managers to discuss and explain variances in their financials.
Assist relevant managers in breaking down and analyzing their financial information.
Maintain accurate records of all cost data and update the cost database regularly.
Organize and lead quarterly performance review meetings with all relevant stakeholders.
Analyze product and service costs to identify areas for cost reduction and efficiency improvement.
Monitor and analyze cost variations and trends related to telecommunications services.
Management accounts analysis.
Gross Profit (GP) Analysis:
Conduct detailed product GP analysis for each business unit.
Perform client or network (POP) GP analysis once all drawings are fully updated.
Ensure alignment of product revenue and costings during SAP clean-up activities.
Costing Analysis, Allocation & Payments:
Analyze all supplier invoices related to the cost of sales to ensure accuracy.
Approve cost of sales invoices.
Assist creditors and third-party administrators with credit escalation processes.
Maintain accrual journals for costings not yet invoiced, utilizing the WIP report maintained by project administrators.
Develop and maintain cost allocation models to accurately distribute costs across departments and projects.
Ensure proper allocation of indirect costs to appropriate cost centers.
Billing and Sales Revenue Tracking:
Oversee the billing process and analyze monthly billing reports, commenting on any significant movements.
Track and report on new sales, churn, upsell, and downsell activities monthly.
Commission Management:
Timeous facilitation of the end-to-end commission process.
Maintain and update all commission records.
Verify the accuracy of all commission claims before approval.
Financial Reporting and Management Packs:
Prepare detailed cost reports and summaries for management.
Assist in the preparation of monthly, quarterly, and annual financial statements.
Provide cost data and analysis to support financial reporting requirements.
Contribute GP analysis with detailed comments to the management pack.
Support the CFO by providing comments and analyses on all queries and variances to the budget within the management pack.
Compliance and Audit:
Standard Operating Procedures implementation to ensure consistency and compliance in financial processes.
Ensure compliance with internal controls, policies, and procedures related to cost accounting.
Support internal and external audits by providing necessary cost documentation and explanations.
Collaboration and Support:
Work closely with procurement, operations, and project management teams to gather and analyze cost data.
Provide financial insights and recommendations to support decision-making and cost management.
Assist in the development and implementation of cost control initiatives.
Continuous Improvement:
Identify opportunities for process improvements and cost-saving initiatives.
Stay current with industry trends and best practices in cost accounting and telecommunications.
Ad Hoc Responsibilities:
Approve training expenditures in line with the approved budget.
Provide comprehensive financial analysis and information to support various business needs and decision-making processes.
Education, Experience and Skills:
Bachelor's degree in Finance, Accounting, or a related field.
A professional accounting qualification (e.g., CA or CFA).
Minimum of 5 years of experience in financial management, with a focus on costing and budgeting.
In-depth knowledge of financial and cost management principles.
Expertise in budgeting and forecasting processes.
Strong systems implementation.
Skilled in variance analysis and financial reporting.
Effective stakeholder management and communication.
Strong abilities in process improvement.
Advanced data analysis and interpretation skills.
Proficiency in SAP and advanced Excel skills.
Strong analytical and problem-solving skills.
Excellent communication and interpersonal skills.
Ability to work both independently and as part of a team.
High attention to detail and accuracy.
Ability to work independently and collaboratively in a team environment.
Objective and Key Results:
The following Objectives and Key Results have been identified as specific measurables that will be used, in conjunction with relevant KPI, to determine the success in this role.
Other information:
Is there any specific industry experience that will be of benefit or is preferred?
ICT experience
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