Financial Manager
GG Financial Recruitment Cape Town
A leading independent power producer, operating and developing power projects in South Africa and based in Claremont, Cape Town, is looking for a Financial Manager to join their Dynamic Finance Management Team.
The Finance Manager is responsible for the reporting and financial management of various project companies within the portfolio. The role encompasses full responsibility for the finance function of eight operational power plants and will be the finance business partner to the operations team on these plants.Additionally, the Finance Manager manages the finance budget, maintains the financial models, treasury operations, and ensures compliance with local tax reporting requirements.
The position requires an individual with sound technical, business and financial reporting skills as well as knowledge of financial systems, financial processes and internal control mechanisms.
Key ResponsibilitiesPrepare and manage transactional and reporting processes
Maintenance and responsibility for the accuracy and timeliness of the
books and records, including general ledgers and any other reporting, Maintenance of the fixed asset ledger for all the project SPVs, Ensure that month end accounts are closed by working day four
Overall responsibility of the accuracy and completeness of the P&L and Balance Sheets
Review reconciliations
Prepare the finance inputs for monthly analysis and input for monthly shareholder and stakeholder reports
Prepare the finance inputs for Board meeting reports.
Cash Flow ManagementCash management responsibility, ensuring cash use is maximised for the project SPV and all lender covenant requirements are met, Timely cash reporting and forecasting, Maintain treasury banking relationships, including primary day-to-day interface with operational bank providers, Liaison with lenders and auditors to ensure compliance with all filing requirements and assist in the resolution of new accounting issues
Review and approve payments (electronic banking or manual)
Repayment of loans review calculations for accuracy before processing payments
Payment of dividends and distributions to shareholders
Statutory and Compliance Reporting
Preparation and sign-off of annual audited accounts/financial statements
preparation in accordance with IFRS
Ensure all CIPC and other related reports are filed timeously
Working closely with the Group tax manager and tax practitioner, manage all local tax issues for the project SPVs
Ensure tax compliance requirements are met, including all corporation tax, VAT and WHT returns
Manage external tax advisors and coordinate advice as required
Manage the process of obtaining tax clearance certificates and any advanced rulings that are deemed necessary
Lead the response to all tax audits, liaising with local tax advisors as required
Review and where necessary assist with Value Added Tax (VAT) and VAT returns
Ad hoc compliance reports from various institutions including Stats SA, NERSA, etc.
Budget and ForecastingAs business partner to the operations team, support the budget and forecasting process
Analysis and reporting of the budgets to the group
Ensure timeous uploading of budgets into the accounting system
Support the Broader Finance Team:Ad hoc support to the finance team on items including but not limited to: budgeting, BBBEE reporting, vendor management, Economic Development reporting, etc.
Undertake ad hoc finance responsibilities in support of the group, as appropriate
Skills and CompetenciesWell-developed financial and management accounting skills, including IFRS
Ability to work in fast-paced and changing environment
Ability to manage stress and high-pressure situations
Willing to travel occasionally within South Africa to Power Plants and the Johannesburg office.
Strong understanding of internal control systems and financial compliance matters. High level of integrity and strong work ethic
Excellent interpersonal, planning and organising skills
Time management, including the ability to meet deadlines
Excellent analytical skills
Excellent written and oral communication skills
Takes initiative
Good team player; able to balance team and individual responsibilities.
Experience, Knowledge and QualificationsMinimum Chartered Accountant (CA) (SA) qualification or equivalent NQF level qualification
Minimum 5 years post-qualifying (or post articles) experience in a financial manager role
Experience in financial and management accounting, current accounting practices and methods
Creative and innovative, Cross-cultural awareness and ethical behaviour, Exposure to reporting systems within a medium to large company
Experience in working in an ERP (e.g. SAP or similar) an advantage
Advanced Excel skills and proficiency
knowledge of Microsoft Office packages, including Outlook, PowerPoint, Word and MS Teams
Renewable energy experience is an advantage
Experience in a shared services environment is an advantage
Experience in a multi-company or multi-entity is an advantage
Experience in an asset-intensive organisation is an advantage
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