Finance Manager

To implement the INSETA's financial strategy and operations by providing oversight and guidance in the execution of financial activities INSETA by managing working capital, assets and liabilities, managing expenditure and revenue which comply with internal and external legislative and operational compliance requirements. This is done by:

1. Maintaining and implementing effective and efficient management control systems to ensure sound financial management within the INSETA.

2. Overseeing the execution of the full financial accounting and reporting cycle at the INSETA.

3. Ensure compliance with the organisational accounting systems, policies and procedures.

4. Ensure prudent financial management including financial planning, budgeting and forecasting for both operational and capital expenditure needs of INSETA.

5. Maintaining complete and proper records of income, expenditure, and liabilities and ensure the accuracy and integrity of financial information.

6. Managing INSETA investments.

7. Ensuring accurate, complete and valid assets management, accounting and reconciliations.

8. Overseeing payroll processes and transactions recording.

9. Ensuring the delivery of an effective management accounting service to the INSETA.

10. Managing the treasury function.

11. Responsible for the risk management including implementation of risk mitigation plans within the Finance Division.

12. Reporting financial performance and position to the relevant internal and external governance structures.

13. Performing all tasks related to the purpose of this role, as required and delegated.

Financial strategy implementation and monitoring 10%

• Implement the financial management strategy / long term financial plan to ensure the effective execution and continuity of full financial management services in INSETA and formulate and implement the consolidated finance functional operational plan, aligned to the roadmap.
• Formulate financial management policies based on the financial strategy and conduct regular reviews to ensure adherence to best practice and certify compliance, including regular reviews of financial management delegations of authority.
• Give inputs to the measurement and review of performance and achievement of INSETA financial strategic and operational objectives (including causes of deviation).
• Support the Chief Financial Officer in the development of strategies to expand organisational revenue with new and diverse funding sources i.e., through research and identify and unlock new and / or alternate funding opportunities.

• Develop or Review and implement accounting policies in line with the legislative guidelines and the relevant financial reporting framework.
• Manage statutory compliance through submission of all periodic returns and reports to DHET & National Treasury by the legislated dates.
• Development or Review and implementation of financial policies.
• Manage and lead the implementation and regular review and updates of financial standard operating procedures and processes.
• Implement and maintain internal control systems and processes to safeguard financial assets of the INSETA and implement funding allocation of programmes and goods/ services as per the financial strategy /long term financial plan and MTEF.
• Give inputs to financial process improvement initiatives and help identify cost saving opportunities and implement processes to achieve efficiencies, best practice and standardisation.
• Preparation of interim and annual financial statements
• Daily, weekly, and monthly review of all accounting records
• Oversee effective document management processes.
• Establish financial procedures and spearhead the development, implementation and continuous optimisation of financial processes such as, but not limited to, debt collection, budgeting, month-end-closures, etc.
• Actively identify opportunities, systems and processes to automate financial transactions.
• Manage and lead all initiatives to address internal control deficiencies identified by assurance providers including internal and external auditors

• Review of all expenditure transactions ensuring that payments to be made are valid, accurate and complete.
• Designing processes and controls to ensure that payments are made within reasonable time frames.
• Review of payments for correct classification of between the relevant segments of administration, project administration, discretionary and mandatory grants and/ or capital expenditure.
• Approve supplier and creditor payments in line with the approved delegations of authority.
• Monthly review of supplier reconciliations and weekly review of aged listing to prevent transactions from ageing beyond thirty days payment period.
• Review of all expenditure and liability reconciliation/s to the accounting records.
• Review of updates to supplier master data
• Lead the financial operational activities such account reconciliations, journal and General Ledger processing, trial balances, monthly and annual system closures in…