Rand Mutual – RMA
Description
THE JOB AT A GLANCE
As the Head: Operational Finance will be responsible for overseeing the day to day, operational finances of the Group.
You will be responsible for ensuring seamless transaction of all operational finances whilst ensuring compliance with all the relevant standards and company policies and procedures.
You will also be responsible for overseeing the procurement and facilities teams.
WHAT WILL YOU DO?
Oversee unit finances and assets:
Develop strategic and operational plans in line with the budget
Ensure that planning takes place in line with standards, and that necessary compliance controls are implemented
Discuss and recommend divisional budgets to Exco
Monitor unit budget on an ongoing basis
Ensure that all departmental planning is carried out on a regular basis, as issues arise, or in advance of anticipated needs
Review monthly cost centre reports
Submit monthly reports to top management
Review the analysis of department expenses and preparing monthly department expense reports
Monitor and review recoveries (labour, overhead, 3rd part recoveries)
Review monthly & quarterly cash flow forecasts.
Oversee Debtors and Collections, and Tax:
Review processes followed by the debtor manager to ensure targets are achievable relating to premium collection
Review and obtain reasons for long outstanding debtors and procedures to be performed to ensure reduced
Review the reconciliation between clientcare, fincare, ability and Excalibur to confirm billing accuracy and completeness
Sign term letters for members and refunds
Review and maintain refunds higher than R25K for AML purposes
Ensure overall compliance and adherence to company policies and procedures
Ensure compliance with latest tax legislation and correct application of the tax act e.g. travel reimbursive rates.
Staff Management:
Allocate tasks to staff
Develop KPA for staff
Ensure that staff is trained to carry out duties
Set goals for own finance team
Do performance management and address below standard performance
Daily and weekly supervision of subordinates through informal and formal discussions
Implement and use the performance management system fully in order to monitor the performance of subordinates
Liaise with HR on staff related issues
Identify training requirements for staff, through effective staff management and assist them in meeting their training requirements, by helping to arrange suitable training for them
Draft staff work plans and ensure implementation
Attend relevant industry related committee – international forums
Develop strategic and operational plans for the unit
Ensure implementation of the plans by supervising staff
Monitor and review plans on an ongoing basis
Draft, develop, maintain and implement policies and procedures in relevant competency
Maintain relationships with the CF, banks, SARS, Broker/ED and any other relevant stakeholders including management.
Oversee the commissions function:
Implement and maintain a set of Comprehensive financial Policies and Procedures
Review the reconciliations for payments to be made- Pensions, Claims, commission and funeral and confirm accuracy, completeness and validity thereof
Review the reversal report and obtain explanations
Review of the commission and funeral reports including trend analysis
Review reconciliation between modules pension, fincare and ability
Review unallocated funds report.
Oversee the Procurement and BEE function:
Provide strategic thinking and contributions to crafting long term Procurement business plans
Provide guidance on the cost effectiveness principles in planning and delivery to contribute to achievement of divisional financial targets and own cost reduction targets
Manage allocated budget through monitoring and seeking cost effective ways to achieve departmental goals
Ensure alignment to business objectives
Track and report key functional metrics to reduce expenses and improve margins
Oversee risk management regarding supply contracts and agreements
Ensure control spend and the creation of long-term savings on procurement costs
The execution of procurement strategies
Provide guidance during the RFQ processes review the reports and provide guidance, in designing a checklist and what items to include
Review supplier database and sign off on changes every 5 years
Provide guidance during the company’s BBBEE verification process
Oversee the management of the BBBEE scorecard across business activities and opportunities for each pillar
Review all annual submissions related to the portfolio
Provide guidance and play an active advisory role to business on Employment Equity, Diversity, Enterprise development and preferential procurement
Review and sign off policies, practices and processes that affect BBBEE within Company
Review BBBEE spending against targets set up for various departments and divisions, including ensuring the accuracy of such information
Review and sign off the Employment Equity Plan
Report to the DOL progress on company score.
Oversee the facilities function:
Ensure that Facility manager follows up on all queries are resolved relating to the building including but not limited to:
Management of the internal administration of the company
Management of all assets for company and regions
Management of access to the buildings in terms of security
Ensure that health and safety measures are in place
Oversee the coordination of air conditions, Toilets, Canteen, Transport
Ensure that staff has a safe building to work in
Ensure the building project will be completed.
Reporting and participation in various forums/committees and providing compliance support:
Participate in and represent Finance on various forums and committees:
Attend quarterly Audit committee
Board – on request
Attend investment meetings
Ad hoc meetings
Attend Risk register meetings and keep updated
Adhere to internal controls
Timeously produce reports for all committees
EXCO – Monthly
OPSCO – Monthly
Direct activities to produce financial reports monthly which reflect the organisation’s actual performance
Ensure that proposed new products are researched to evaluate financial viability and to forecast performance; Present such reports to top management
Ensure compliance with mandatory requirements and all applicable international and bilateral agreements
Receive and update comments on agreements on an ongoing basis or on demand
Act as a Public officer by ensuring that tax matters are up to date and that all tax and vat returns submitted
Act as Money laundering Reporting Officer
Ensure that all work is performed in terms of required standard and regulation
Ensure that all relevant insurances and licenses for the Group are in place
Ensure timely submission of various periodical reports, highlights of the previous month’s reports
Ensure external audits are completed on time and are successfully coordinated
Perform any other processes important to identify any fraudulent activities within the Group.
Project Management:
Review the projects scope high level ensure process is adequate
Attend meetings when required, provide inputs
Allocate resources to projects and review outputs
Plan and manage projects within budget.
WHAT YOU’LL BRING TO THE TABLE?
CA(SA)
8 years post articles experience in accounting field, at a management role
Background knowledge of financial sector and insurance industry
Above average IT skills
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