Working Capital Manager (CA)
2022-09-30 - 2022-10-28
Permanent
DBN003103
Finance & Insurance
Medical
Gauteng, Gauteng
(Market related)
A leading pharmaceutical company has a vacancy for a Working Capital Manager.
Job Purpose:
  • Lead, direct and manage the Working Capital function for SA Commercial.
  • Drive optimal working capital investment for the organisation by ensuring lowest DSO’s, best procurement practices and maximum accounts payable balances.
Key Responsibilities:

People Management
  • Attract, develop, and retain high quality team members
  • Lead the team as a role model who demonstrates values, inspires, motivates, and coaches team members to maximise the quality of their output
  • Drive ownership, accountability innovation and efficient processes
  • Provide continuous feedback and ensure performance management reviews are performed
Accounts Receivable management 
  • Set the target days at budget and forecasts by customer channel. Ensure target days are met and maintained at optimal levels. 
  • Review forecast and budget calculations for accounts receivable balances.
  • Build relationships with Commercial team, customers and distributors to ensure optimal cash collections. 
  • Review debtors’ book monthly and identify risks and areas for improvement. 
  • Ensure plans are in place for improvements identified and those are executed and tracked.  
  • Review all relevant GL recons and ensure reconciling items are maintained at current. 
  • Drive collections and ensure best processes are followed. Ensure processes required by State are followed. 
  • Approve blocked orders after assessing credit risk but also consider business in achieving targets. 
  • Manage requests for extended payments terms. 
  • Assess provisions to ensure they are adequate as per IFRS requirements 
  • Approve credit notes and bad debt write-offs as per Approvals Framework. 
  • Engage with the company's Legal regarding all default accounts. 
  • Ensure accurate maintenance of logistic fees. 
  • Manage UPD sundry accounts to ensure lowest deductions from UPD. 
  • Ensure credit insurance is in place as and when required and manage relationship with insurance company as well as broker.
  • Ensure compliance with all Reserve Bank and SARS regulations regarding export sales, foreign currency inflows and VAT.
Accounts Payable 
  • Ensure optimal payment terms from suppliers.
  • Ensure optimal procure to pay process is followed. This will ensure efficiencies and best cash flow management. 
  • Accounts Payable management (trade and non-trade).
  • Ensure compliance with all VAT regulations when invoices are processed and involve Group Tax if required. 
  • Review forecast and budget calculations for accounts payable (trade and non trade) balances. 
  • Release orders and bank files as per SOP and limits of authority as and when required.
Financial Reporting and Management
  • Manage budget, forecast and five-year plan processes related to working capital. 
  • Review monthly stock provision and stock adjustments. 
  • Prepare monthly working capital analyses with commentary and identify risks. 
  • Ensure any new acquisitions are accurately accounted for.
Payroll Management
  • Ensure all employees are paid accurately and timely every month. 
  • Assist with payroll costing for budgets. 
  • Consolidate annual increase workings and present to executives. 
  • Prepare annual incentive and deferred incentive calculations.  Obtain relevant approval and ensure incentives are paid.
  • Ensure accurate submission of bi-annual employees tax information and distribution of annual IRP5’s. 
  • Ensure timely submission of Workmen’s Compensation returns. 
  • Assist in creating packages for all new employees obtained from acquisitions.
Compliance and Risk Management
  • Prepare and submit the annual insurance declaration as distributed by the Group Risk team on timeline as communicated. Ensure all claims due to stock loss from theft, hi-jack, damage etc. are concluded. 
  • Ensure compliance with policies and procedures and drive accountability throughout the organization.
  • Take full responsibility for the Approvals Framework and ensure that it is adhered to and continually updated.  Ensure SAP configuration is aligned to Approvals Framework.
  • Maintain risk register.
  • Perform designated approval function.
  • Identify risks and opportunities which impact the business.
  • Ensure that contractual agreements are adhered to.
  • Ensuring that all accounting transactions are in line with the principles of IFRS and other regulations.
  • Ensure that SOP’s relevant to the area of responsibility are in place and regularly updated.
  • Ensure that all matters pertaining to internal and external audit from a Working Capital perspective are dealt with timeously and accurately.
Other
  • Identify cost saving initiatives in the areas under responsibility.
  • Identify processes for improvement and successfully implement systems enhancements.
  • Projects: Provide the necessary leadership & financial insights by leading & participating in key strategic project teams (acquisitions, divestments, etc.)
  • Relationships: Establish a high level of credibility and manage strong working relationships with both external parties and internal parties.
Qualifications & Experience
  • Grade 12 / Matric 
  • CA (SA) 
  • At least 5 years post article experience in a finance environment. 
  • Detailed and up to date knowledge of IFRS and tax (VAT, income tax and PAYE). 
  • Computer literate – advanced in MS Excel, MS Word, MS PowerPoint, SAP, TM1 
  • People management experience 
  • Experience in the pharmaceutical/FMCG industry is preferred 
  • Experience in Accounts Receivable and Procure to Payment cycle is preferred 
  • Payroll experience is preferred.
Skills and Attributes:
  • Exemplary leadership skills, people manager 
  • Ability to work under pressure 
  • Confident individual with strong interpersonal skills not afraid of challenging the status-quo 
  • Highly numerate with strong analytical abilities 
  • Must be diligent, commercially astute, with a focus on attention to detail, high sense of urgency and deadline driven. 
  • Mature, resilient, assertive, someone with unquestionable integrity 
  • Energetic, enquiring mind, self-motivated, with good problem-solving skills, initiative and a passion for service excellence 
  • Good communication skills (verbal & written)
Knowledge:
  • Financial Accounting (IFRS) 
  • VAT Act and Reserve Bank regulations
  • MS Office 
  • Advanced Excel 
  • SAP and TM

Candidates that meet the criteria may submit their applications via this portal or via vacancy link on www.mnarecruitment.com
Should you receive no feedback within 7 days, please accept your application as unsuccessful.


For more information please contact:
Sadhna Singh