Head: Finance – Tertiary Education

North Coast Labour Consultants CC
Roodepoort
ZAR 500 000 - 600 000
Job description

Are you an experienced finance professional looking to lead and shape financial strategies in the education sector? Our client, a prominent institution in the Tertiary education sector, is seeking a Head of Finance to join their team in Roodepoort, Gauteng. In this pivotal role, you’ll drive financial planning, ensure compliance, and oversee the institution’s financial health, making a significant impact on its future growth and success. If you’re ready to bring your leadership and financial expertise to a dynamic and mission-driven environment, this is the perfect opportunity for you

Duties and Responsibilities:

Business Partnering Across the Campus

  • Plans and manages the finance approach on campus specifically the budget as aligned to the overall campus plan.
  • Supports the overall budgeting process across the campus.
  • Tracks and monitors the budget throughout the year.
  • Monthly analysis of variances. Preparing variance analysis for campus Senior Management Team so comment can be provided.
  • Reviews expenditure and costs and suggests remedial actions to achieve EBIT (Earnings Before Interest & Tax).
  • Forecasts outcomes for year end EBIT and proposes plans in order to achieve the amount or reallocate to business critical area.
  • Works with campus Senior Management Team to review expenditure and advise on approaches to achieve EBIT.
  • Manages the budget preparation process as per the national guidelines.
  • Tracks and communicates the budget to stakeholders monthly.

Management of Internal Controls

  • Implements, monitors and enforces the internal control environment across the campus.
  • Reviews internal controls, identifies risk and makes amendments and recommendations.
  • Manages the asset register and updates in the event of movements and changes.
  • Conducts monthly audit of assets across the campus including working with IT and Facilities for tagging of assets.
  • Monitors the compliance to registration process including documentation, process adherence and accuracy.
  • Reviews, handles and resolves audit findings.
  • Updates and reconciles Fixed Asset register Reconciliations – gives the new asset numbers to the relevant departments to ensure asset are tagged – weekly / monthly.

Debtors Management

  • Drives the achievement of monthly targets for the collection.
  • Tracks and analyses daily performance of the team.
  • Co-ordinates the correct allocation of bank statements to student accounts.
  • Checks that payment plans on student accounts are all loaded correctly.
  • Co-ordinates that all adjustments and refunds are captured as well correct supporting documentation is obtained.
  • Checks that banking is balanced and completed on at least twice a week and all ensures relevant policies and procedures are adhered to.
  • Co-ordinates and oversees the process whereby monthly student statements are emailed and communicated within the specified timelines.
  • Oversees the debt collection process to meet the specified debt collection requirements.
  • Reconciles student bursaries and any necessary adjustments to individual student accounts.
  • Review credit balance report to ensure that correct processing against unit accounts and compliance with regulatory requirements.

Creditors Management

  • Verifies and reconciles purchase orders and invoices.
  • Captures invoices and payment of invoices to creditors accounts.
  • Substantiates individual transactions prior to settlement of those invoices.
  • Makes weekly / monthly payment of creditors.
  • Manages and balances procurement card on campus continuously.
  • Prepares ongoing procurement card reconciliations
  • Captures all new suppliers onto system.
  • Reconciles supplier accounts to creditors ledger.

Student Administration

  • Oversees the administration process related to cancellations, deregistration’s and appeals of student contracts continuously. This includes weekly participation on relevant committee.
  • Manages campus administration for registration process.

Billing and Reporting

  • Balances loan and sweeping accounts weekly.
  • Captures bank statements daily and sends bank reconciliations out monthly.
  • Loads and reconciles salary and lecturer journals – monthly and investigates variances where applicable.
  • Processes and balances monthly General Ledger reconciliation – up to Trial Balance.
  • Oversees the updates of the credit balance report – monthly.
  • Provides weekly cash flow and Capex report.
  • Checks and clears all debit balances from vendor accounts – monthly.
  • Raises accruals for expenses not yet received – monthly.
  • Assists in the drawing up of the yearly budget – normally twice a year.
  • Manages dual reporting responsibilities of all of the above to both National and campus Senior Management Team.
  • Reports on results as part of the campus Senior Management Team.

Finance Team Management

  • Manages Credit Controllers to achieve monthly financial targets and ensures operational effectiveness.
  • Oversees campus finance team to ensure smooth functioning of student administration for the campus.
  • Ensures that finance and operations work together to ensure best student customer service is achieved.
  • Develops, trains and manages performance for the team to ensure optimal performance.

Minimum Qualification:

  • Advanced Diploma / Bachelors Degree (NQF Level 7) in Accounting or Financial Management

Minimum Experience:

  • Minimum of 3 – 5 years Financial experience running a finance department up to Trial Balance. 2 years Management Experience. Higher Education environment preferable.
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