Finance Director

Job description / Role

A requirement has arisen for improvement and performance of the business, due to current processes not well designed and there is a need for process design expertise.

The company requires a Finance Leader who has the ability to effect major change and who can “reset” the organisation and move it onto a new high-growth trajectory.

The successful candidate will be a strategic finance partner to the Managing Director, and considered part of a team to drive a culture of high financial performance and standards, implementing rigorous finance controls and providing a commercial financial framework which reflects a coherent budget that supports the business plan and forecasting.

Ensuring the profitable growth of the area by implementing and managing tight sales and cost controls and suggesting profit improvement plans. Helping the entities to become the best in class in all processes, controls, and information to management.

Key Responsibilities:
- Overall control of the company’s accounting function;
- Financial planning and related ongoing strategic advice to the senior management team;
- Formulating financial targets and budgets in accordance with the strategy determined by the Board;
- Overall control of all financial transactions and matters, including audit systems;
- Managing company policies regarding capital requirements, debt, taxation, and equity, as appropriate;
- Ensuring that the regulatory requirements of all statutory bodies regarding all the company’s financial affairs and BEE requirements are met;
- Liaison with external auditors on audit requirements;
- Providing commercial/financial support; and
- Management of capital and cash flow in line with Investment guidelines.

CAPEX
- Review Applications for correctness and business sense.
- Ensure approved Budgets are not overspend
- Business Plan Draft
- Follow-Up
- Actual/Bgt Comparison

LEGAL:
- Compliance with Direct and Indirect Tax requirement.
- Compliance with Company Law requirement
- Compliance with Other statue
- Coordinating SBM periodically

BANKING/TREASURY:
- Ensuring financing of the business (together with group treasury)
- Compliance with the terms of the Bank
- Timely and effective payment system and monitoring

RISK MANAGEMENT:
- Identification of risk and measure to mitigate the same.
- Insurance renewal and adequacy

IT:
- Department monitoring, development and control

PROCUREMENT:
- System development and monitoring

COST ACCOUNTING
- Identify relevant cost
- Implement Cost Center structure
- Implement cost allocation methodology
- Implement machine hour rates
- Implement product routings
- Identity machine speed
- Identify set-up time and cost
- Identify waste rates
- Identify Bill of Material per product
- Implement product costing
- Implement IT process
- Set-up data capturing process in production
- review cost per cost center act/bgt
- review cost over/under allocation
- review proper cost capturing regularly
- review reasons for cost deviations

FINANCIAL ACCOUNTING
- Implement Shared Service Center for Accounting for the region
- Manage the full accounting environment
- Manage the year-end audit
- Ensure compliance to group and local rules
- Implement best practice in all areas.

PRODUCT PRICING
- Implement correct price calculation
- Set-up templates for accurate calculations
- Track ongoing material price development and impact on P&L
- Organize process to have actual data
- Calculate impact of pricing decision on future P&L
- Check Actual/Budgeted prices and margins
- Analyze deviations

HR CONTROLLING
- Implement staff budget per machine
- Calculate productivity KPI for each department
- Track Actual vs. Budget (approved) headcount

IMPROVEMENT MEASURES
- Develop KPI for best practice in all areas
- Track Waste percentage and drive improvements
- Track Material Usage and analyze deviations
- Track Packaging Cost and drive improvements
- Track Freight Cost and drive improvements
- Track Capacity by machine
- Track Productivity by machine
- Track WC development
- Track Cylinder recharge

ACQUISITIONS
- Develop/Review Business Plan for identified targets
- Review due diligence
- Help with integration of new entity
- Implement reporting according to BCS
- Implement reporting according to COPA
- Implement Cost Accounting and production controlling

TARGET SETTING
- Identify product portfolio
- Identify material usage per product
- Identify waste percentage
- Identify productivity improvements
- Set realistic and achievable targets
- Prepare overview of targets for the segment

BUDGETING
- Prepare challenging, but realistic budgets
- Propose budget changes and improvements
- Prepare presentation for South Asia
- Prepare overview for South Asia

ACTUAL BCS (Financial) REPORTING
- Prepare Actual Report for entities
- Prepare Overview with analysis and explanations
- Analyze deviations to budget and prior year
- Analyze Income Statement and B/S by account
- Develop and propose improvement projects to achieve targets

ACTUAL COPA (Sales) REPORTING
- Prepare reports by product/customer/entity for Quantity/Sales/KF2
- Analyze deviations and developments in Quantity/Sales/Price
- Obtain explanations for deviations and developments
- Develop and propose improvement projects to achieve targets

FORECAST
- Develop weekly and monthly reliable forecast
- Analyze forecast by Orders obtained, production volumes vs capacity, and invoiced amounts.
- Establish early warning system

PROCESS ANALYSIS and Improvement
- Analyze Purchase to pay process to improve and increase control
- Analyze Order to cash process
- Analyze Warehouse process
- Analyze Asset management
- Analyze Payroll process
- Analyze Cash and Bank process

INTERNAL CONTROL
- Map internal processes with key controls
- Implement Internal Control System
- Review key principles (segregation of duty, four eye)
- Review following of group rules
- Review internal control self-assessment

COPA UPLOAD
- Upload data into COPA
- Review data and correct errors

INFORMATION REQUESTS
- Provide information on a request basis

FINANCING
- Calculate liquidity plan
- Calculate future cash needs
- Ensure sufficient funding is obtained from the group

TAX
- Coordinate solving of local taxation issues and ensure compliance to regulations

YEAR-END AUDIT
- Ensure audit without remarks and low adjustments
- Provide auditor with documents to conduct their audit
- Review year-end audit for entities in South Asia

AD-HOC AUDITS
- Support any adhoc audits from internal or external parties
- Conduct internal audit checks

GROUP REPORTING IMPROVEMENT
- Participate in improvement projects
- Propose system and process changes
- Drive initiatives to improve data integrity, visibility, and usefulness

Requirements

The ideal candidate for this role is an energetic, decisive, respected finance leader and strategic thinker who has worked in the packaging industry. They should have a reputation for efficiency and excellence. The successful candidate must be a certified accountant and will likely have developed their skills within a multinational packaging company. This person has a sense of urgency and a desire to generate significant growth for the company; and seeks a new challenge.

Key Characteristics and Track Record:
- CA (SA), CIMA, CPA or ACCA
- Solid finance experience in blue chip organizations with significant ‘best practice’ and ‘levels of excellence’ experience and knowledge;
- Minimum 10 years finance leadership experience within companies respected for delivering excellence;
- Industry experience and great financial acumen;
- Proven track record of having managed and led a reorganisation within a financial department resulting in a performance focused culture;
- Well-developed finance business disciplines that develop, co-ordinate and deliver on the strategy in a practical way;
- Demonstrates a consistent track record of improving financial efficiencies. Able to pinpoint where issues are by looking at the numbers and address them through performance management;
- Proven cross-functional experience and the ability to understand business holistically; and
- Emphasis on Management and Cost Accounting and the ability to excel in the financial management within the various production plants.

Competencies:
- Self-starter, resilient character
- Entrepreneurial streak
- Commercially and financially focused
- Attention to detail and accuracy
- Demanding and strong manager with very high standards and proven leadership qualities
- Creative problem solver
- Confident communicator, strong in both verbal and written communications
- Ability to influence (up and down)

The candidate would demonstrate:
- Emotionality, resilience, calm
- Extraversion, sociable, assertive
- Openness, pragmatic, data driven
- Agreeableness, competitive, challenging
- Conscientiousness, persistent, driven

About the Company

International Recruitment Executives provides a full 360’ recruitment service and takes pride in tailoring solutions to meet each individual client’s needs on a case-to-case basis.

Our service offering focuses on middle level to Senior, Director and C-suite executives across the following specialisms:

• Leisure • Hotel & Hospitality • Banking & Finance • Legal • PR & Communications • Digital & Social Media • Human Resource • Business Operation Professionals

Our range of services includes the following:

Contingency Recruitment

Using our database, network and respected relationships International Recruitment Executives can introduce you to high calibre individuals who are both active and passive within their market and industry; providing a higher level of service to our Clients and Candidates than other consultancies.

Our campaign management service delivers comprehensive support for the end-to-end management of your recruitment campaign. We devise and run a bespoke campaign dealing with the initial marketing through to selection and on boarding of the selected individuals.

Executive Search

Our dedicated sourcing team is consistently mapping the market within their specific industry and discipline enabling them to identify and select suitable candidates for your organization. We utilise a tried and tested search methodology that ensures we find the best candidate to fill your specific brief whilst also ensuring and maintaining confidentiality.

Bespoke Recruitment Projects

Our projects team is experienced in delivering bespoke project recruitment solutions. Clients utilize this service during restructures and rapid growth to alleviate pressure on their own internal recruitment teams. We work directly with our Clients by providing them with advice and dedicated support to identify the requirements of their business by taking full responsibility of the project and recruitment life cycle requirements to ensure the delivery of high quality support service