About the position
The Venture Capital Company is seeking to appoint a Financial Manager (with growth to Financial Director) in a newly established position and will report to the Company's Managing Director who is an Engineer with highly developed business acumen. The candidate will have a strong dotted line to the Director of the Venture Capital Company. This position is integral to both business and operational performance. It should be noted that the Company has a very small Financial Department which includes a Bookkeeper and some support Accounting Clerks and that the more sophisticated Accounting requirements of the business is currently performed by an external Accounting Firm.
Key performance areas, inter alia, include:
- Initially reviewing all the current Accounting and Bookkeeping structures within the business and implementing all the necessary controls with the view to growing the Financial Department over time and appointing required staff.
- Partner with the various Departments including Design, Manufacturing, Field Services, Procurement and Sales and to provide meaningful financial direction, expense analysis and forecasting.
- Consolidate both a local Company and international Company for month-end as well as the "traditional" responsibilities and central involvement in the Company's activities. This will include developing zero based budgets, management and cost accounting, job and contract accounting including work-in-progress reports, monthly and annual financial statements, establishing policies that are needed, etc.
- Job and Contract Costing including estimating support, machine-hour and labour recovery rates, actual versus cost analysis and profitability reporting per contract (job, contract and product line information)
- Oversee revenue recognition, progress billings, retentions & guarantees on long lead manufacturing and refurbishment contracts and monitor work-in-progress valuation.
- Identify and implement cost saving opportunities including analysing operational costs and recommend strategies to improve efficiency in scrap, rework, overtime and plant utilisation.
- Oversee inventory accounting and evaluation across raw materials, consumables, work-in-progress and finished goods.
- Manage foreign exchange exposure including forward cover and exchange control requirements.
- Manage working capital and cash flow forecasting in the context of long manufacturing cycles, project depositis and debtors collections.
- Manage the annual audit, tax compliance including SARS routine audits, statutory reporting and BBBEE reporting requirements. In addition, play a central role in the management of remuneration systems including payroll, overtime, site & travel allowances for field service teams.
- Partner with the MD and Board in the strategy and vision of the business.
Requirements:
- CA (SA) from an industrial background which may be mining, mining services, manufacturing, engineering, heavy industry or similar and is familiar with the obligations and the dynamics of being part of a sizeable business within a Group structure.
- Understands the challenges and demands of a high-intensity, entrepreneurial cultured environment. In addition, is able to manage, optimise and streamline the financial aspects of operating Divisions and Structures across multiple sites and geographies including cross-border field service and export work.
- Skills in job costing, project accounting, work-in-progress and manufacturing costing are a prerequisite to being successful in this demanding and rewarding role.
- Highly driven, proactive and with leadership & interpersonal ability as well as being able to multitask are key requirements. Furthermore, a strategic and commercially driven individual who is extremely hands-on in this newly established role with excellent career growth opportunity.
Apply on-line or alternatively phone Gerald Lilian on [Phone Number Removed];.
Be advised that if you do not receive a response within two weeks from date of submission of your CV, then please deem your application as unsuccessful.
Desired Skills:
- CA (SA)
- From an industrial background which may be mining or mining services or manufacturing or engineering or heavy industry or similar and is familiar with the obligations and the dynamics of being part of a sizeable business within a Group structure.
- Understands the challenges and demands of a high-intensity and entrepreneurial cultured environment.
- Ability to manage and optimise and streamline the financial aspects of operating Divisions and Structures across multiple sites and geographies including cross-border field service and export work.
- Skills in job costing and project accounting and work-in-progress and manufacturing costing are a prerequisite to being successful in this demanding and rewarding role.
Desired Work Experience:
Desired Qualification Level:
About The Employer:
MANUFACTURING / ENGINEERING SECTOR
A specialist Venture Capital Company recently acquired shares in a highly profitable, second generation family Company that is on a steep upward trajectory, earning strategic domestic and global contracts with progressive local & international Companies. This business has created multiple strategic alliances with global manufacturers coupled with its own engineering & manufacturing facilities (there are two local factories) based in the East Rand of Johannesburg. The working environment is characterised by an intense and constant focus on growth, optimisation, earnings quality, sustainability and governance. This is an established engineering and manufacturing business serving the mining and minerals processing industries locally, across Africa and internationally.
Employer & Job Benefits:
- R1.8 - R2.3 MILLION CIRCA PKG
- BONUS SCHEME
