Manager: Finance - CAM: Investment Management
Listing reference: capgh_000182
Listing status: Online
Apply by: 20 July 2023
Position summary
Introduction
To oversee the finance departments activities of Capricorn Asset Management (Pty) Ltd (CAM), Capricorn Unit Trust Management Company Limited (CUTM), The Capricorn Unit Trusts and of Caliber Capital Trust; ensuring that the monthly accounting work is done timeously and accurately; and ensuring that all internal controls that are in place are working effectively and efficiently.
Job description
KEY PERFORMANCE AREAS
Financial Planning and Budgeting
- Ensure CUTM and CAM Accounting is completed by the set period per month
- Draft financial budgets for CAM and CUTM
- Assist in compiling AUM reports and Executive summary graphs
Consolidated Financial Reporting
- Preparation of financial statements for CAM, CUTM, Capricorn Unit Trusts
- Prepare Caliber Capital Accounting, Report to EMT/Board and Trustees, NAMFISA and compilation of Annual Financial Statements
- Submit Management Accounts carve-out of Capricorn Private Wealth and CAM Wealth within specified timeframes.
- Submit Management Accounts of Caliber Capital within specified timeframes.
- Review Script Reconciliations (of all Portfolios managed by CAM) prepared by junior accountant and resolve discrepancies by engaging with the independent custodian and Portfolio Administration divisions.
- Unit reconciliations: review unit reconciliations prepared by subordinates and resolve discrepancies by engaging with Client Administration and Portfolio Administration divisions.
- Draft monthly Management reports and Quarterly Board Reports within specified timeframes
- Provide financial data to various departments in CAM to assist with sales result interpretation i.e., Marketing/Risk departments.
Management and Cost Accounting
- Ensure that creditors are paid on a timely basis and in line with cash flow plans
- Follow up on debtor balances, ensuring effective fee recovery
- Review daily bank balance reconciliations of the entities
- Monitor cash balances used for operations
- Monitor Investment balances especially those linked to statutory investments required by NAMFISA
- Ensure that CAM and CUTM intercompany balances are in balance on a monthly basis
- Cost Accounting and monitoring department and product performance against budget
- Review and perform monthly fund accounting and ensure it is completed within the specified time frame
- Correct differences in unit recons in FPM3 or Silica
- Process monthly distributions on Silica and ensure that any queries/errors are resolved
- Process LISP distributions as and when required on Silica and ensure that the units to pay WHT are sold
- Review or calculate the interest/dividend spilt on non-Money market distributions
- Sell units on the Fundamental system so as to generate funds to pay the corresponding WHT associated with the distribution of income
- Review the monthly email statement sample before release.
- Process the yearly tax statement run with Silica and ensure that the tax statements are accurate by reviewing samples before sending out the statements
- Assist External and Internal Auditors during audit engagements; CAM, CUTM, Unit Trusts, and Caliber Capital Trust audits.
- Review and sign off Audit Confirmations required by clients
- Review and release the payment of the CAM monthly expenses
- Review the Petty Cash reconciliations
- Assist Caliber Capital staff on any finance-related matters (i.e., analyzing financial statements of potential loanees)
- Calculate Segment Income ratios on a monthly basis
- Compile the Management Fee Sheets monthly.
- Calculate the management fees for all segregated portfolios and ensure that invoicing is performed on time
- Calculate the NAMFISA levies and complete the NAMFISA fee schedule on a monthly basis.
- Submit the NAMFISA returns on a quarterly basis
- Ensure that the payment of NAMFISA fees over to NAMFISA is performed accurately and on time
- Review Trustee fees calculations on a monthly basis and ensure that the fees are paid on time
Implement and Perform Financial Controls
- Implement and monitor controls in the finance department
- Continuously improve the controls and control environment in the Finance division and CAM as a whole.
- Ensure that the disaster recovery procedures are followed in the finance department
Compliance
- Assist in establishing policies and controls to ensure compliance with International Financial Accounting and Reporting Standards (IFRS) and statutory and regulatory rules as they pertain to the Group;
- Prepare the Annual Audit Certificates required by the Pension Fund Portfolios managed by CAM.
- Review the test sample of the Annual WHT Certificates to be issued to clients
- Submit the annual VET (Vocational and Education Training) Levy claim forms
- Drafting income taxation calculations for CUTM and CAM
- Review VAT returns completed by accountants and ensure that the returns are submitted within the specified time period
- Review Import tax and WHT returns calculated by accountants and ensure that the returns are submitted within the specified time period
- Review/Ensure Withholding Tax (WHT) processing on FPM3 and Silica
- Assist in ensuring compliance to policies and acts, income tax, and Unit Trust Control Act and reports to Group on compliance issues .
Risk management
- Working in line with the risk management strategy and identifying key risk indicators and reporting deviations to the department
- Monitor and Review the Manco Cheque/Call account reconciliations prepared by Client Administration
- Manage the financial risk of the organization ensuring that plans are in place to address and mitigate any potential risks;
- Assist in the preparation of risk reports, audit finding reports, dashboard reports etc., and ensure that all reports have supporting performance information or reference to the information.
Portfolio Administration
- Assist Portfolio Administration with approval of settlement instructions and reconciliations at times when Portfolio Administration is understaffed due to leave.
Strategy
- Contribute to the overall CAM strategy
- Direct the strategic ambitions of the finance department
People Management
- Perform in-house training of subordinates on various accounting-related matters.
- Ensure staff attend the needed training to enhance skills and productivity within department.
- Manages the team to ensure that work standards and quality work output targets are achieved and maintained;
- Ensure own and subordinates staff bi-annual performance appraisals and health checks are done timeously
- Ensure & Manage self-development as per personal development plan (PDP) and career path
Key Relationship Interfaces: (Relationships with key parties on work-related issues)
Internal Relationships
- All staff members
- CAM Executive Management Team
- Group Finance
- Group Operations Support
- Caliber Capital Board of Trustees
Internal Relationships
- Regulators (Namfisa)
- External Auditors
- NAMRA (Receiver of Revenue)
- Pension Fund administrators
- Investees/Clients/Customers
Minimum requirements
Competencies Required
- Knowledge of accounting software
- Knowledge of Taxation rules and regulations
- Sound knowledge of financial accounting, cost accounting, and financial reporting processes and systems
- Knowledge and understanding of consolidated budgeting principles, processes, and procedures.
- Learning & Researching skills
- Strong verbal and written communication skills
- Coaching and mentoring skills
- Sound time management skills
- Self-confidence, drive, and tenacity
- Able to assume a high level of responsibility.
- Trustworthy and high level of integrity
- Positive attitude toward change
- Team Player
- Well-rounded skills in Microsoft packages, computer skills
EDUCATIONAL REQUIREMENTS, EXPERIENCE, AND KNOWLEDGE
- Qualified Chartered Accountant
- Up to 5 years experience in finance (Inclusive of articles) with 2 3 years being in a supervisory or managerial position preferably in the financial services industry.
- Knowledge of accounting software (i.e., Pastel) will be an advantage.
- IBM CDM (Cognos Disclosure Management) financial statement preparation software knowledge will be an added advantage.