Role details

Group Financial Accountant - Global Retailer

Johannesburg   •   R600,000 - R900,000   •  Permanent

Bullet points

  • Group Financial Accountant - Retail
  • Group Financial Accountant - Global Retailer

About Our Client

Our client is the largest non-food retailer in South Africa. They have been in operation for more than 80 years and have expanded their footprint to include over 1,400 stores through nine different store formats.

Their strategy for growth is underpinned by four key levers: comparable store growth, new space growth, margin expansion and credit.

They aim to improve revenue by growing comparable store sales and increasing new space growth, as they continue to roll out additional stores in South Africa and other African countries.

Job Description

Key Responsibilities:-

Financial Accounting and reporting, budgets, forecasts and management reports

  1. Prepare quarterly consolidated financial statements & annual consolidated financial statements for the group and their subsidiary companies in line with IFRS, Companies Acts, exchange standards and deadlines.
  2. Knowledge and experience of multi-currency reporting and consolidation of group results.
  3. Analyze, evaluate, and interpret data concerning the overall financial condition of the organization.
  4. Adhere to professional requirements as per legal restraints, accounting practices (IFRS), and the requirements of the boards of directors.
  5. Carrying out complex calculations, specialized reports or reconciliations.
  6. Perform detailed analysis of accounting and business information related to functional area.
  7. Identify variances, prepare detailed explanations, and correspond with peers or internal customers, management, etc. as needed to resolve discrepancies.
  8. Prepare the annual budget.
  9. Prepare monthly Group forecast packs.
  10. Prepare monthly internal and external management books.
  11. Analysis of subsidiaries taking accountability for full reporting and all disclosures. Ensure on a monthly basis all statutory companies are complete and accurately recorded.
  12. Compliant reports to maintain the credibility of our client as a group and assists in enhancing EBITDA and equity values of the Group.
  13. Analyze data, prepare journal entries and prepare various accounting schedules, reports, filings, returns and/or statements on a timely basis.
  14. Work closely with external auditors to oversee the auditing process and interact with auditors on various matters, specifically, preparation of audit schedules and reviews.
  15. Develop reporting models and ensure these are maintained.
  16. General Ledger & Hyperion - maintain all structures through efficient and effective processes by ensuring adequate approval process of new accounts or modified accounts. Structures must be in compliance with Group reporting objectives and IFRS requirements.
  17. Monthly reconciliations & analysis performed for the entire group including but not exhaustive:
    1. Share Capital including eliminations;
    2. Share Premium;
    3. Other retained earnings;
    4. Reserves;
    5. Group inter-company accounts
    6. Shares in subsidiaries including eliminations
    7. Administration fees charged
    8. Interest received inter-group
    9. Other Group account reconciliations that arise

Process Improvement, Efficiency and Governance

  1. Ensures the credibility of the results maintained in the General Ledger used for internal and external reporting purposes by streamlining processes, improving controls and ensuring adequate audit trail.
  2. Reduce output time of deliverables to ensure timely data for decision making by stakeholders.
  3. Lay down governance processes for accuracy and process with indirect departments for example tax and legal to ensure high standard of governance and compliance through-out finance for statutory companies.
  4. Liase with external counterparts for foreign subsidiaries in Bangladesh, China, Singapore and Hong Kong as well as newly entered African or other countries.
  5. Meet the expectations of shareholders, analysts and other group stakeholders who rely on reports distributed.
  6. Project manage new business affected by the IFRS standards or companies Act changes to ensure accurate accounting for reporting to stakeholders.
  7. Run projects on new accounting pronouncements and other areas of weaknesses identified to ensure execution of system changes and processes across the Group to ensure compliance on adoption and manage the change process through efficient communication across the Group.
  8. Draft and implement policies and procedures where necessary.
  9. Action and manage change process through efficient communication across the Group.
  10. Plan, develop, and implement programs to monitor process improvement and good business practices. Instil governance and process from a Group prospective to ensure IFRS compliance. Meet with respective parties on a regular basis to ensure the principles of IFRS standards are enforced and no accounting takes place contrary to these standards.
  11. Research and resolve accounting issues including evaluation and implementation of new accounting pronouncements with appropriate formal accounting technical opinions.
  12. Evaluate the effectiveness of internal controls, and develop and implement procedures where necessary.

Advise / Recommend Business Solutions

  1. Advise and recommend solutions based on appropriate financial analysis and evaluation.
  2. Set accounting principles and monitor adherence.
  3. Identify and report on trends and out of line situations to establish impact on future profitability. Recommend solutions.
  4. Identify and address financial, business and process risk.
  5. Make recommendations to assist the Company or departments in making decisions regarding present, future, and potential costs through formal technical opinions.

The Successful Applicant

- CA(SA)
- 2-3 years' post articles experience in a relevant industry
- Strong Excel skills, Hyperion experience advantageous

- The candidate must be a strong-minded driven individual that is able to deal with an ever-changing work environment and long working hours

- Strong business partnering capabilities would be required to deal with complex stakeholders in over 35 companies.

What's on Offer

R600,000 - R900,000 basic + performance bonus + employee benefits

Apply for this job

Click the Apply or LinkedIn button below or contact Waldo Bakkes on +27 11 303 8315 quoting job reference 15471
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