The Council for Scientific and Industrial Research (CSIR) is a leading scientific and technology research organisation that researches, develops, localises and diffuses technologies to accelerate socio-economic prosperity in South Africa. The organisations work contributes to industrial development and supports a capable state.
Management Accountant
About The Job
The CSIR has a vacancy for a Management Accountant in the Finance portfolio of the Advanced Production and Security Division. The incumbent will partner with management and support management decision making through financial planning, performance management and reporting, ensuring accurate and complete financial information, maintaining effective financial controls and assisting management in the formulation of effective solutions to support the implementation of the organizations strategy. This position is based in Pretoria.
Key Responsibilities
Preparation of standard financial reports: data analytics and measurements
- Plan, communicate and manage month-end, year-end and adhoc processes to ensure accurate and complete monthly and annual financial results and follow up and resolve outstanding queries;
- Compile, analyse and interpret monthly management accounts for relevant business areas, including detailed variance analysis with accurate and relevant business insights, indicating recommended action plans for relevant stakeholders to mitigate financial risk and meet financial targets;
- Prepare relevant ad-hoc reports and data analysis to provide insight into business performance, including predictive results, to support effective management decision making and improve financial sustainability;
- Ensure relevance of reports and implement improvements on continuous basis;
- Ensure that all reports are accurate, completed and provided within the required timeframes.
- Ensure compliance with terms and conditions of commercial agreements for both customers and suppliers;
- Review accuracy and completeness of the contract milestones/deliverables, billing plans, budget allocations and cost centres on the financial system in order to monitor and report on progress;
- Ensure that contracts (and associated projects) are correctly classified and registered based on the required accounting standard which is informed by the relevant IFRS / IAS contract classification checklist;
- Ensure that a signed copy of contract, routing sheet and accounting standard classification checklist is registered on the system to ensure ease of access to supporting documents electronic audit trail;
- Prepare/review weekly, monthly and annual contract reports, including analysis to identify gaps and areas of concern. Provide reports to relevant manager/line staff, including recommended actions required to ensure contract delivery in terms of performance obligations;
- Monitor appropriate use of resources in line with contract requirements and budgets;
- Ensure that contract/project forecasts are regularly updated (at least quarterly) to ensure progress is on track;
- Communicate forecast and findings to financial manager;
- Ensure that interest is capitalised / utilised in terms of contract requirements (if relevant);
- Manage effective collection of debt and report on outstanding debt. Ensure that provision for bad debts is accurately accounted for;
- Ensure that contract/project specific reports are prepared based on client specification requirements as per signed agreement to indicate progress against plan (if applicable);
- Review approve contract reconciliations prepared by the financial administration / accounting officers for accuracy correctness and ensure queries have been actioned
- Arrange and provide oversight on contract specific audits as required;
- Ensure that contract / project management meetings are attended by relevant finance team members.
- Ensure that all financial information for relevant areas of responsibility is recorded accurately and completely;
- Formulate and recommend revenue and costing models informed by latest information, benchmarking and best practice to improve operational decision making and profitability within areas of responsibility;
- Identify and implement cost savings initiative and efficiencies within areas of responsibility;
- Review and approve manual journals and upload (including correction of errors, provisions and accruals, bad debt, manual adjustment, zero rate vat, forecast, interest capitalisation and monthly overhead cost recovery) to accurately reflect financial information and cost distribution for accurate financial month-end results;
- Scrutinise the trial balance before month end to ensure completeness and validity of entries and follow up on abnormal or missing entries. Consider accruals and discuss findings, recommendations and corrections with Financial Manager;
- Ensure that monthly reconciliations for relevant income statement and balance sheet accounts are prepared reviewed that reconciling items are resolved and cleared timeously;
- Provide information substantiating documentation to central Finances in order to clear items from control accounts ensure expenses are correctly accounted for assets added in the correct categories.
- Plan, communicate and manage the budget process in terms of the annual directive for areas of responsibility;
- Provide financial information and budget requirements to managers to enable them to prepare their budgets;
- Ensure accuracy and completeness of budget base data received from the internal CSIR departments to assist with accurate internal overheads / recoveries planning;
- Ensure the budgets are accurately captured on the CSIR budget system;
- Consolidate budgets for review by Financial Manager and relevant operational manager.
- Plan, communicate and manage the monthly forecast process for areas of responsibility;
- Engage with Division/Portfolio and department managers to ensure accuracy and reliability of information used as a basis for forecasts;
- Consolidate forecasts including variance analyses and corrective actions for review by Financial Manager and relevant operational manager;
- Review /approve forecast adjustment journals and ensure that journals are updated into system as per agreed upon forecasts;
- Interaction with customers and stakeholders (internal and external) Maintain professionalism in all interactions;
- Ensure that all queries are resolved timeously.
- Engage with internal and external auditors to understand the audit requirements and to ensure an efficient audit is conducted within the required time frames;
- Provide system and process descriptions other information requirements, on project specific audits, internal audit requests/ reports annual/specific external audits to comply with stated objectives of the audit financial requirements to assist the auditors in meeting set deadlines;
- Where concerns are reported, review and provide recommendations and implement corrective action as agreed.
- Review recommend business process improvements to the financial manager or relevant responsible persons to improve the effectiveness and efficiency of financial support;
- Communicate and assist with the implementation of CSIR Policy process changes to ensure compliance by staff.
- Provide management oversight and direction to all financial administration activities, including:
- Ensure that outstanding timesheets requiring approval and follow-up action, to ensure completeness and accuracy of financial month-end results;
- Ensure the Business areas Petty Cash float is managed accounted for through regular cash counts and that petty cash expenses are within policy procedures and that total expenses cash reconciles with the petty cash float (where relevant);
- Ensure effective management of open orders, ensuring timely follow up and action to close orders by Financial Administration Officers;
- Ensure local and overseas employee reimbursement claims are verified that the appropriate and supporting documentation is attached that the correct cost centres are indicated, the correctness of the approval by the direct managers are validated, before it approving and submitting for processing;
- Review and approve voice and data allowances for areas of responsibility;
- Ensure effective record keeping;
- Any other financial administration related activities.
- Ensure that all customer, supplier and other contacts are reviewed to maximise financial benefits and minimise financial risk to the CSIR and to ensure that contracts are concluded and implemented in line with CSIR policies, processes and relevant financial statutory requirements;
- Review contracting terms and recommend financial instruments required accordingly, engage the CSIR Treasury department to ensure that approved financial instruments are implemented effectively;
- Support the cluster with import/export through engagement with the CSIR Import/Export department.
- Coach, train and manage performance of staff or junior team members;
- Ensure team members perform their duties in accordance with their job requirements;
- Evaluate segregation of duties continuously to ensure the control environment remains intact;
- Identify gaps for training or development of staff to assist with skills retention and succession planning;
- Provide training to support finance team on the business process requirements of contract management and project administration and the impact of transactions processed in the financial system to provide them with a good understanding of their responsibilities in performing their duties efficiently and effectively in support of the Division/Portfolio;
- Foster a culture of excellence, customer service and continuous improvement.
- A Bachelor of Commerce degree in Accounting / Finance / Management Accounting (BCOM Honours or CIMA, will be an added advantage) with six years finance experience in a medium to large business, including:
- At least 3 years management accountant experience;
- Financial reconciliation and reporting;
- Financial planning, including budgeting, forecasting and variance analysis;
- Analysis and interpretation of financial data;
- Sound understanding of international accounting standards
- Sound understanding of legislation applicable to state owned entities
- Supervision of junior team members
- Financial management
- Management accounting
- Financial analysis and reporting
- Budget / forecast preparation
- Internal controls
- Sound knowledge of auditing requirements
- Full Microsoft suite
- Solid understanding of accounting CSIR financial systems
- Knowledge application of contract project administration principles accounting requirements
- Excellent communication skills
- Effective leadership skills
- Well organised
- Ability to multitask and manage competing priorities
- Ability to continuously deliver accurate, timely and high- quality work whilst working under pressure.
PLEASE NOTE THAT FEEDBACK WILL BE GIVEN TO SHORTLISTED CANDIDATES ONLY.
For more info, please contact the CSIR Recruitment Centre on 012841 7656 or email us at Recruitmentinfo@csir.co.za
The CSIR is an equal opportunity employer. As such, it is committed to the Employment Equity Act of 1998. By applying for this position at the CSIR, the applicant understands, consents and agrees that the CSIR may solicit a credit and criminal report from a registered credit bureau and/or SAPS (in relation to positions that require trust and honesty and/or entail the handling of cash or finances) and may also verify the applicants educational qualifications and employment history. The CSIR reserves the right to remove the advertisement at any time before the stated closing date and it further reserves the right not to appoint if a suitable candidateis not identified.
