Financial Manager (Finance, Payroll & Human Resources)

JOB SPECIFICATION

Financial Manager (Finance, Payroll & Human Resources)

Position Title

Financial Manager

Reports To

Managing Director

Direct Reports

Junior Financial Manager, Bookkeeper

Context

Headcount below 20; finance function of three; financial statements not subject to statutory audit

Location

Sunninghill/ East London

Employment Type

Permanent, full-time

Date Prepared

19 August 2026

1. PURPOSE OF THE ROLE

The Financial Manager runs the day-to-day financial management, statutory compliance, payroll and human resources functions of the company, under the oversight of the Managing Director.

The role is structured around review and delivery, not transaction processing. Capture, reconciliation preparation and routine administration sit with the Bookkeeper and Junior Financial Manager. The Financial Manager reviews and approves that output, handles the technically difficult work personally, and provides the Managing Director with accurate, timely information on which to make decisions.

Strategic direction, final authorisation and the design of the control environment remain with the Managing Director. The Financial Manager operates within that framework rather than setting it.

A secondary purpose of the role is the development of the Junior Financial Manager.

2. KEY PERFORMANCE AREAS

2.1 Financial Accounting and Reporting

• Own the integrity of the general ledger: completeness, accuracy and cut-off.
• Review reconciliations prepared by the team (bank, debtors, creditors, VAT control, payroll control) and evidence that review.
• Deliver monthly management accounts to the Managing Director within [7] working days of month end, with variance commentary and a short narrative on the result.
• Prepare annual financial statements in accordance with IFRS for SMEs and section 30 of the Companies Act, within six months of year end.
• Handle the judgemental areas personally: revenue recognition, leases, provisions, expected credit losses and deferred tax. Escalate any position that is finely balanced to the Managing Director.
• Maintain the fixed asset register and annual verification.

2.2 Budgeting, Forecasting and Cash Flow

• Coordinate the annual budget and present it to the Managing Director for approval.
• Maintain a rolling 12-month cash flow forecast.
• Investigate material variances with the responsible manager and report on corrective action.
• Prepare financial models and business cases to support capital expenditure, funding and pricing decisions.

2.3 Working Capital and Credit Control

• Manage cash and banking within the approved delegation of authority.
• Manage the debtors book: credit vetting, limits, collections escalation and the doubtful debt provision. Where credit is extended to natural persons or small juristic persons, ensure National Credit Act compliance.
• Review the creditors payment run prepared by the Bookkeeper and submit it for authorisation.
• Manage day-to-day relationships with bankers, funders and insurers.

2.4 Taxation and Statutory Compliance

• Review VAT201 returns prepared by the Junior Financial Manager and own the reconciliation of VAT to the general ledger.
• Prepare IRP6 provisional tax and ITR14 annual returns, and compute current and deferred tax.
• Manage SARS eFiling, verifications, audits, objections and payment arrangements, and maintain the company's tax compliance status at all times.
• Maintain a statutory compliance calendar covering SARS, Department of Employment and Labour, and CIPC obligations, and report on it monthly.
• Confirm the company's assurance position annually against its Public Interest Score, and alert the Managing Director if the position changes.

2.5 Payroll

The payroll is processed by the Junior Financial Manager. The Financial Manager owns its accuracy and legality and submits it to the Managing Director for authorisation.

• Review the monthly payroll against a headcount reconciliation and prior-month variance report before submitting it for authorisation.
• Approve payroll master file changes, each supported by written authorisation from the relevant manager.
• Own the technical treatment of fringe benefits, travel allowances, retirement fund contributions, the employment tax incentive, and any garnishee or emoluments attachment orders.
• Ensure EMP201 submissions by the 7th, bi-annual EMP501 reconciliations, IRP5 and IT3(a) certificates, monthly UI-19 declarations and the annual COIDA Return of Earnings, and maintain a valid Letter of Good Standing.
• Ensure compliance with the BCEA, National Minimum Wage Act and any applicable sectoral determination.
• Maintain payroll confidentiality and POPIA compliance. Remuneration information must be ring-fenced within the team.

2.6 Human Resources

• Manage recruitment and selection: job profiling, shortlisting, interviewing, verification checks and offers, with appointments approved by the Managing Director.
• Maintain contracts of employment and a concise, practical policy set compliant with the LRA, BCEA and Employment Equity Act. Keep it proportionate to a business of this size.
• Manage onboarding, induction, exit processes and final settlements.
• Administer leave and provide for the leave liability at year end.
• Run the performance management cycle.
• Manage employee relations: grievances, incapacity, poor performance and discipline. Convene hearings and represent the company at the CCMA where required, keeping the Managing Director informed throughout.
• Monitor headcount against the 50-employee threshold at which the company becomes a designated employer under the Employment Equity Act.
• Where the company is SDL-registered, submit the Workplace Skills Plan and Annual Training Report by 30 April and recover the mandatory grant.
• Maintain accurate, secure and POPIA-compliant employee records.

2.7 Controls and Team

• Operate and monitor the internal control framework and the delegation of authority set by the Managing Director, and report any breakdown promptly.
• Ensure segregation of duties is maintained in practice across the finance team, particularly between preparation, review and payment release.
• Report suspected fraud or irregularities directly to the Managing Director without delay.
• Lead and develop the Junior Financial Manager and Bookkeeper, with a documented development plan for the Junior Financial Manager.
• Document key processes so the company is not exposed to key-person dependency in a team of three.

3. MINIMUM REQUIREMENTS

Qualifications

Essential: BCom Accounting, BCom Financial Management or equivalent NQF Level 7 qualification.

Advantageous: Professional Accountant (SA), ACMA/CGMA, or completed SAIPA/CIMA articles; formal labour law training; payroll certification.

Experience

Essential

• Five to eight years' progressive finance experience, including at least three at Financial Manager or Financial Accountant level with supervisory responsibility.
• Experience in a small or owner-managed business, or clear evidence of the ability to operate without specialist support functions.
• Practical payroll knowledge sufficient to review and authorise a payroll and resolve an EMP501 variance personally.
• Working knowledge of the BCEA, LRA, COIDA and UIF Act, and practical experience of a disciplinary process.
• Full VAT and income tax compliance experience, including SARS eFiling.
• Experience preparing annual financial statements in an environment without an external audit to correct errors before publication.

Advantageous

• Prior external audit experience.
• Experience developing a junior professional.
• Experience representing an employer at the CCMA.
• Experience implementing or migrating an accounting or payroll system.

Technical Skills

• Accounting systems: Sage Evolution, Xero, Sage Business Cloud, SAP Business One, Dynamics 365 Busin