Financial Manager

JOB SPECIFICATION

Financial Manager (Finance, Payroll and Human Resources)

Position Title

Financial Manager

Reports To

Managing Director

Direct Reports

Junior Financial Manager, Bookkeeper

Context

Headcount below 20; finance team 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 finance, statutory compliance, payroll and human resources functions under the oversight of the Managing Director. The role is one of review and delivery, not processing: the Bookkeeper and Junior Financial Manager capture, reconcile and administer; the Financial Manager reviews and approves their work, handles the technically difficult matters personally, and gives the Managing Director accurate, timely information for decisions. Strategic direction, final authorisation and the design of the control environment remain with the Managing Director.

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

2. KEY PERFORMANCE AREAS2.1 Financial Accounting and Reporting

• Own the integrity of the general ledger and review, with evidence, the team's reconciliations (bank, debtors, creditors, VAT and payroll control).
• Deliver monthly management accounts with variance commentary within [7] working days of month end.
• Prepare annual financial statements under IFRS for SMEs and section 30 of the Companies Act within six months of year end.
• Handle judgemental areas personally (revenue recognition, leases, provisions, expected credit losses, deferred tax) and escalate finely balanced positions.
• Maintain the fixed asset register, with annual verification.

2.2 Budgeting, Forecasting and Cash Flow

• Coordinate the annual budget for approval and 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 for 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, doubtful debt provision), with National Credit Act compliance where it applies.
• 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 VAT to general ledger reconciliation.
• Prepare IRP6 and ITR14 returns and compute current and deferred tax.
• Manage all SARS eFiling matters (verifications, audits, objections, payment arrangements) and keep the company tax compliant at all times.
• Maintain and report monthly on a compliance calendar covering SARS, Department of Employment and Labour and CIPC obligations.
• Confirm the company's assurance position annually against its Public Interest Score.

2.5 Payroll

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 submission.
• Approve 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 emoluments attachment orders.
• Ensure timely EMP201, EMP501, IRP5 and IT3(a), UI-19 and COIDA Return of Earnings submissions, and maintain a valid Letter of Good Standing.
• Ensure compliance with the BCEA, National Minimum Wage Act and any applicable sectoral determination, and keep remuneration information confidential and POPIA compliant.

2.6 Human Resources

• Manage recruitment from job profiling to offer, with appointments approved by the Managing Director.
• Maintain employment contracts and a concise policy set compliant with the LRA, BCEA and Employment Equity Act.
• Manage onboarding, exits 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, discipline), convene hearings and represent the company at the CCMA where required, keeping the Managing Director informed.
• Monitor headcount against the 50-employee designated employer threshold. If SDL registered, submit the WSP and ATR by 30 April and recover the mandatory grant.
• Maintain accurate, secure and POPIA compliant employee records.

2.7 Controls and Team

• Operate the internal control framework and delegation of authority set by the Managing Director, maintain segregation of duties between preparation, review and payment release, and report any breakdown or suspected irregularity immediately.
• Lead and develop the Junior Financial Manager and Bookkeeper, with a documented development plan for the Junior Financial Manager.
• Document key processes to limit key-person dependency.

3. MINIMUM REQUIREMENTSQualifications

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

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

Experience

• 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 without specialist support functions.
• Payroll knowledge sufficient to review a payroll and resolve an EMP501 variance personally.
• Working knowledge of the BCEA, LRA, COIDA and UIF Act, including practical experience of a disciplinary process.
• Full VAT and income tax compliance experience, including SARS eFiling.
• Experience preparing annual financial statements in an unaudited environment.

Advantageous: external audit experience; developing a junior professional; CCMA representation; implementing or migrating an accounting or payroll system.

Technical Skills and Other Requirements

• Accounting systems (Sage Evolution, Xero, Sage Business Cloud, SAP Business One, Dynamics 365 Business Central or equivalent) and payroll systems (Sage VIP, PaySpace, SimplePay or equivalent).
• Advanced Microsoft Excel; SARS eFiling, e@syFile Employer and uFiling.
• Clear criminal and credit record; valid driver's licence and own transport; availability for extended hours at month end, year end and payroll cut-off.

4. COMPETENCIES

Competency

Description

Technical accuracy

Right the first time. A payroll error is an employee relations problem, not merely an accounting one.

Integrity and confidentiality

Discretion with remuneration and disciplinary information is non-negotiable.

Review discipline

Reviews the team's work rather than re-performing it, and leaves evidence of the review.

Deadline discipline

Plans backwards from statutory deadlines and treats them as fixed.

Escalation judgement

Knows what to resolve and what to bring to the Managing Director, and does so early.

Pragmatism

Applies proportionate solutions to a business of this size.

Developmental leadership

Grows the Junior Financial Manager rather than using the role as extra capacity.

5. KEY PERFORMANCE INDICATORS

Indicator

Target

Management accounts issued

Within [7] working days of month end

Payroll accuracy and payment date

Zero off-cycle corrections; paid on or before the [25th]

EMP201, VAT201 and UI-19 submissions

100% on or before due date

EMP501 reconciliation

Within deadline, nil variance

Annual financ