Closing Date 2020/02/24
Reference Number LAN200109-4
Job Title Manager: Financial Accounting
Division Finance and Treasury and IT
Unit Finance
Job Type Classification Permanent
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
JOB ADVERT SUMMARY
The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa’s only specialist agricultural bank established in 1912, the bank’s sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to finance land, equipment, improve assets and obtain production credit. The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry. As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.
MAIN PURPOSE OF THE JOB
To provide reliable financial and non-financial information to Management in support of management decisions and to continuously optimise the financial accounting processes to add value within the Finance department.
To continuously optimise the Balance Sheet reporting and add value to the processes within the finance department of the Land Bank.
KEY PERFORMANCE AREAS
Compile Financial Reporting (Annual Financial Statements (AFS), NCA Form 40, Land Bank tax return and any other ad-hoc reports) NCA Form 40, Land Bank tax return and any other ad-hoc reports
1. Reports are due in accordance with scheduled activities; or
2. Requests are received for the compilation of a report. Analyse the request to determine the nature and extent of the report ? Statutory ?
Management Annual Financial Statements
1. Review of the prior year AFS for technical updates due to changes in International Financial Reporting Standards (IFRS) and other relevant legislation (PFMA, National Treasury Regulations, VAT Act, etc.)
2. Advise management of the subsidiaries of any changes in accounting standards
3. Update the current year AFS with all the relevant changes
4. Seek continuous improvement in the process of preparing the AFS
5. Compile the AFS within the allocated time frame
6. Collect and verify applicable data from all relevant sources and collate data into required reporting format
7. Make recommendations in accordance with the information at hand
8. Submit the report for review and approval where necessary
9. Distribute the report to the relevant role players
10. Archive the report for future reference purposes
Audit matters Audit Matters
1. Liaison with both internal and external auditors and respond to audit queries/opinions.
2. Coordination of Audit Process - responsible for ensuring smooth interim and year-end audits, including coordination of Client Assistance Schedules.
3. Distribution of audit findings for management comment and co-ordination of audit responses, including responding to areas that highlighted under “areas of responsibility” – this may require clarifying issues, giving information, designing, amending and implementing controls.
4. Quality review of Management Letter Coordination of the insurance renewal process and the insurance claims process/ Authorise electronic payments
5. Coordination of the annual insurance renewal process.
6. Completion of Insurance questionnaires
7. Preparation of information for submission to the insurance brokers and payments
8. Coordination of the insurance claims process
9. Receive payments from the Finance and Administration business unit duly validated and authorised by respective business unit leaders per applicable DOP.
10. Review documentation for proper authorisation in terms of DOP to effect payment.
11. Review supporting documents and captured data per payment procedure
12. Release funds from designated bank accounts to vendors/clients
Ensure adherence to financial processes, procedures and policies
1. Develop a month-end timetable and follow up to ensure compliance with the timetable.
2. Opening and closing of accounting periods on SAP Finance.
3. Assigns responsibilities to relevant assistants, including the creation of reconciliations.
4. Manage the month-end focus. (Including investments, write-offs, insolvencies, intangible assets, investment properties, PIPS, fixed assets, fruitless and wasteful and irregular expenditure, impairments, etc.)
5. Effect corrective measures
6. Review of journals.
7. Review of the monthly reconciliations.
8. Review of the analysis of the income statement accounts.
Provide financial guidance on Workout and Restructuring transactions/deals and any other ad-hoc requests from other business units
1. Participate in W&R deal discussions to establish the nature of the problem.
2. Assess business/venture’s financial performance
3. Provide Technical knowledge on the accounting treatment/ implications of the restructuring proposal.
4. Monitoring of implementation of recommendations from the Due Diligence reports.
5. Shadowing the experts when performing due diligence assessments and valuations of shares.
6. Provide technical knowledge on tax implications.
People Management Performance Management
1. Analyse the business plan to determine the applicable deliverables and targets
2. Compile the Performance Management documentation in collaboration with the staff member in terms of:
3. Job Profile requirements
4. Key Performance Areas
5. Personal Development Plan
Capacity Planning
1. Determine the human resource requirements, in accordance with the expected deliverables and current capacity
2. Secure the human capital requirements to ensure that deliverables will be met in accordance with the expected targets
3. Set and achieve employment equity targets.
4. Minimise staff turnover
5. Lead the department in such a manner as to foster innovation and technological excellence.
6. Demonstrate behaviour aligned to the corporate Land bank values
7. Equitable distribution of responsibilities and accountabilities and plan appropriate human capacity and full utilisation for projects under management
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