Senior Financial Manager

Overview

Senior Financial Manager Jobs in Kenilworth at GOLD CIRCLE (Pty) Ltd

Join Race Coast Western Cape as Senior Financial Manager (Racing) – Be Part of Our Exciting Journey!

Are you a Senior Financial Manager looking for a big opportunity? Race Coast Western Cape is searching for a dynamic and resourceful professional to join our busy team. The ideal incumbent should be professional, proactive and deadline driven.

The Senior Financial Manager (Racing) will have good communication skills and numerical ability. The incumbent will work closely with the Chief Financial Officer (CFO) and provide timely financial insights to support strategic decision making.

The purpose of the role will be to ensure effective financial and management control of the Racing Group.

Location Hollywoodbets Kenilworth Racecourse (on-site)

Type Full-Time

Experience At least eight (8) years’ experience post articles, preferably at a senior level in a financial accounting environment.

Why Race Coast Western Cape

From the Western Cape to KwaZulu-Natal, we bring people together for legendary races, vibrant festivals, and unforgettable celebrations. Beyond the thrill of the track, Race Coast is about live music, fashion, food, and experiences that spark connection and keep the energy alive all year round.

At Race Coast, we don’t just host race days. We curate elevated experiences that blend sport, style, and sophistication. With our footprint across some of South Africa’s most iconic venues, including Hollywoodbets Kenilworth and Hollywoodbets Durbanville in the Western Cape, and Hollywoodbets Greyville and Hollywoodbets Scottsville in KwaZulu-Natal, we are redefining the modern race day for a discerning audience. Each event is an exhilarating hub of heart-pounding action, lifestyle, and entertainment.

What You’ll Do

Financial Metrics

· Final review and approval of annual budgets, where required. Prepare consolidated budgets/forecasts and actual results, where required. Consider and introduce trading statements where budgets are not required.

· Review of monthly management accounts including analysis/commentary. Prepare group results for the management accounts.

· Oversight over review of the individual annual financial statement and consolidated annual financial statements and final approvals.

· Review and approve sensitive balance sheet reconciliations and working paper files.

· Review and approve non routine transaction (depreciation, impairments, provisions, finance costs/income, discounting, lease straight-ling, management fees, administration fees etc.).

· Review and approval of larger payments.

· Consult with Tax and IFRS experts (after liaising with the CFO) on complex, out of the ordinary transactions.

· Approve templates and models created to substantiate decision making.

· Enforce thorough review and timeous settlement of inter-company trade accounts, loan accounts, shareholder loans, bank loans, bank facilities, creditors, SARS (Income Tax, PAYE, VAT) in line with agreed payment terms.

· Enforce through review the timeous collection of loans receivable, inter-company trade accounts and trade debtors. Ensure monthly or weekly reports are appropriately distributed and reviewed.

· Enforce effective management of working capital (Stock + debtors – creditors). Drive continuous improvement in supplier terms and customer terms.

· Effective tax planning and cash flow management and oversight over cash management reporting for Group.

· Working with the CFO to identify control weakness, design internal controls and implement.

· Identification of errors and timeous corrective action.

· Enforce thorough review and timeous corrective action against internal audit and external audit findings.

· Review and approve provisioning of impairments on stock (slow moving, damaged, loss of market share, obsolete, expired, NRV < cost), debtors (long outstanding, close to credit limit, defaulting terms, disputes etc.), tangible (damaged, not in use, loss making, loss of market share etc.) and intangible assets (reputation damage, loss making, loss of market share)

· Review and approve discounted cash flow projections for impairment testing.

· Review and approve adequate reassessment of useful lives, depreciation methods and residual values for tangible and intangible assets quarterly.

· Review and approval of the profit and loss on asset disposals.

· Ensure annual stock take is performed (including monthly/quarterly as dictated by company policy).

· Review and approval of stock count variances.

· Review and approval of petty cash expenses count variances and required top up.

· Review and approve accruals (test estimation accuracy by reference to trends and comparison of actual results to previous estimates).

· Review and approve bonus and leave pay provisions/ accruals.

· Management of payroll cost and operating costs.

· Ensure long outstanding debt is timeously prescribed.

· On a quarterly basis – approve the mini audits executed to test compliance with supplier payment terms, claiming of supplier rebates at the correct % and claiming timeously, similarly for supplier settlement discounts and general discounts, similarly for customer rebates and settlement discounts and general discounts, validity/relevance of debit orders, use of correct interest rates, wear and tear rates, depreciation rates by the Senior Financial Accountants.

· Create and maintain a template that allows for consistent, yet tailored audits for each of the entities within the group.

· Update in-house created financial models/billing models as and when required by the model.

· Lead the BEE project team from Finance perspective to ensure the improvement and sustenance of the companies BEE score.

· Review and approve quarterly validating of fair value measurements (only were required).

· Optimization of the company’s financial position and financial performance.

· Enforce compliance with auditor requests to effectively manage overruns.

· Support the CFO with specific projects and reports and data extractions.

· Assist the CFO with building financial models/billing models/project costing.

· Custodian of the SWOT analysis and business strategy documents.

· Enforce the obtaining of the month end upliftment forms and update the Pastel fixed asset register with the asset transfers. Approve the acquisitions/disposals between entities.

· Approve capex, expenses, and disposals within authoritative limits.

· Ensure that administration and management fees within the group are relevant and reflective of the time/effort involved in rendering intergroup services. Update the model used to determine these fees quarterly or at intervals as agreed with the CFO.

· Approve credit applications (supplier and debtor credit applications).

People

· Living Race Coast values of Service Excellence, Commitment, Integrity, Accountability, Enthusiasm, Ubuntu and Innovation.

· Performance management of staff and disciplinary.

· Enforcing ethical, honest, transparent, fair work environment.

· Approving of training as and when needed for staff.

· Formal setting up of individual staff meetings (Initial meeting to layout the KPIs, quarterly tracking meeting, half year review, quarterly tracking meeting and year-end review).

· Adequate recognition of staff efforts.

· Talent retention (through role creation, career path planning).

· Succession planning.

· Sustainable morale and team building.

· Recruitment and related interviews.

· Induction and comfort of new team members.

· Appropriate and fair leave planning and sick leave monitoring.

· Approval of leave, bio time, phone usage for your direct reports.

· Implementation of HR initiatives.

· Monitoring of employee productivity and smoke breaks.

· Approving and monitoring of overtime, meal allowances etc.

· Promote declaration of all gifts and non-acceptance of kickbacks. Instances to be reported immediately.

· Promote declaration all conflicts of interest upfront.

· Promote a culture of confidentiality within the business with regards to the protection of personal information

· Ensure all personal information of loan applicants and suppliers and other stakeholders is not shared and is maintained in a secure environment.

Compliance, risk and quality

· Ensure legal agreements are in place with external consultants.

· Enforcing compliance with company policies and procedures.

· Enforcing 100% compliance with COSACT, Tax acts, IFRS/IFRS for SMEs and other relevant laws/regulations relating to finance.

· Review and approval of risk assessments/ risk register (financial).

· Enforcing up to date maintenance of department process write-ups/ system descriptions.

· Ensure logical saving of all work, templates, etc. monthly and yearly such that each year’s financial records can stand on its own when enquiries/ investigations/audits take place.

· Produce high quality, neat, logical, succinct, easy to follow, easy to understand, formula linked work/templates/workbooks/financial models – of which is substantiated by facts with no numbers in the formulas.

· Ensure the above (final version) and other documents are chronologically saved/backed up.

· Effectively deal with internal, external, SARS and BEE auditors.

Growth and new markets/products

· Establish relationships with consultants, bankers, attorneys and auditors.

· Ensure measures are put in place and steps are taken to achieve the short term, medium term and long-term goals.

· Assist with company projects or lead company projects from time to time.

What You’ll Need

· At least eight (8) years’ experience post articles, preferably at a senior level in a financial accounting environment is required.

· Grade 12 / Matric is required.

· A bachelor’s degree – B. Com / B.Acc / B.Compt / B.Com (Hons) is required.

· Registered as a Chartered Accountant (CA/SA) with SAICA is required.

· MS Office (with advanced Excel working experience) is required.

· Advanced Power BI and advanced SQL is ideal.

· Supervisory level exposure to Sage Evolution is ideal.

· Relevant experience in the culture, arts, tourism and hospitality services sector is advantageous.

· Strong knowledge of accounting principles, financial reporting standards, and regulatory requirements is required.

Work Location: In person

Title: Senior Financial Manager

Company: GOLD CIRCLE (Pty) Ltd

Location: Kenilworth