Finance Manager – Farmers Organisation Ltd

in Accounting and Finance
Full Time
Blantyre
August 6, 2024
Application deadline closed.

Job Description

Farmers Organisation Ltd seek to fill the position of Finance Manager based in Blantyre. The incumbent will be responsible to ensure that all financial policies, processes, and budgets are in line with the overall requirements of the business; while ensuring compliance with regulatory, statutory and AECI reporting requirements, and governance frameworks. In addition, the incumbent is to ensure timeous submission and analysis of required financial information and reports e.g. financial, management and statutory reports.

PRINCIPAL RESPONSIBILITIES:

1. Management Reporting

  • Present monthly and year-to-date financials with accompanying analysis of results and insight into variances
  • Develop and prepare monthly management reporting packages to share with the MD/Exco team
  • Conduct ad-hoc financial analysis as required
  • Assume responsibility for Working Capital Reports, statutory reports and generate reports to run operations

2. Financial Management and Reporting

  • Compile and analyse financial information in preparing financial statements including monthly and annual reporting
  • Oversee the expense management process by comparing what was budgeted against actual expenses
  • Ensure financial records are maintained in compliance with accepted policies and procedures
  • Ensure all financial reporting deadlines are met
  • Review and approve financial reconciliations
  • Ensure accurate and timely period end close procedures
  • Authorise all journal postings
  • Investigate and resolve accounting discrepancies and irregularities
  • Manage and coordinate financial reporting requirements with fiscal authorities and shareholders where relevant
  • Approve bank instruction form for payments
  • Review and approve final payroll, where required

3. Planning and Budgeting

  • Prepare the overall business budget, in conformance with the Farmers Organisation’s standards and principles
  • Monitor and control expenditure within approved level, ensuring compliance with budgetary control procedures and policies
  • Prepare and submit monthly forecast and variance reports
  • Manage and monitor capital budgeting process

4. Taxation

  • Cooperate with AECI Group Tax in all tax matters
  • Comply to all submission deadlines to AECI Group Tax
  • Ensure effective and timeous submission of tax calculations and provisional tax returns and payments
  • Review and approve all direct, indirect and withholding tax calculations, returns and documentation
  • Perform tax reconciliations of the Revenue Authority account, revenue per income statement and revenue per tax return, VAT and employee tax return
  • Review VAT system and TP coding for all new accounts and analyse VAT data reports to ensure correct VAT treatment and transactions
  • Determine if foreign withholding taxes will qualify as a foreign tax credit and obtain proof of withholding taxes paid and withholding tax certificate from the Revenue Authority
  • Ensure tax risk policy is implemented
  • Address Revenue Authority queries and appeal processes
  • Review and prepare required local tax filings

5. Working Capital Management

  • Ensure working capital targets are achieved
  • Effectively manage liquidity
  • Foster customer relationships ensuring timeous collections of monies owed
  • Obtain approval for customer write-offs

6. Risk Management

  • Identify financial risks and develop and implement risk mitigation strategies, controls and actions
  • Maintain risk register and quarterly report as required by AECI Agri Health’s Finance Department
  • Escalate risk matters to AECI Agri Health’s Finance Department where applicable

7. Governance

  • Prepare, coordinate and assist with external / internal audit requirements and address audit queries
  • Act as key contact person for authorities i.e. Revenue Authorities, Company Registrar
  • Ensure compliance to all legislation in relation to accounting matters
  • Ensure the control of transactions and segregation of duties on Syspro
  • Manage data integrity
  • Ensure completeness and balancing of transactions and within acceptable accounting principles with regards to the following:
    o Receivables
    o Cashbooks
    o Payables
    o Inventory
    o General Ledger
  • Ensure that systems and procedures are in place and are being adhered to in line with internal control matrix per group’s requirement and delegation of authority

KNOWLEDGE

  • In-depth knowledge of International Financial Reporting Standards (IFRS) or equivalent
  • In-depth knowledge of financial policies, procedures, and processes
  • Sound knowledge of the regulatory, statutory and compliance frameworks affecting area of responsibility

QUALIFICATIONS & EXPERTISE REQUIRED:

  • CA / CIMA or equivalent qualification
  • 8-10 years relevant financial experience, of which a minimum of 3 years on a management level

COMPETENCIES (SKILLS, KNOWLEDGE & CHARACTERISTICS)

  • Sound knowledge of SYSPRO or SAP systems (ERP systems in general)
  • Advanced business report writing skills
  • Proficiency in MS Office suite
  • Management reporting skills
  • Business risk management skills
  • Attention to detail and high level of accuracy
  • Commitment to compliance frameworks, operating standards and principles.

CANDIDATES TO RESPOND TO:

The Managing Director
Email info.farmersorganisation@aeciworld.com;
Tel (Reception) 099 987 3327

Closing date for applications 14 August, 2024

All applications to be submitted in English

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