Ackermans Accounting / Finance Jobs in Cape Town
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We've got an exciting, brand new opportunity at Ackermans as an Accountant: Forex in our Finance Retail Accounting team. This role will manage and administer the total forex function, including technical accounting and other relevant compliance matters for Ackermans and the Pepkor Speciality retail brands.
We're a fully in-office team. This role is based at our Support Centre in Kuils River, Cape Town.
KEY RESPONSIBILITIES:
1) Forex Management
1.1) Forward cover buying
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To ensure compliance with, and relevance of, Group forex policy
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Timely execution & recording of forward cover purchases & subsequent settlement thereof
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Monthly and ad-hoc reporting of forward cover position
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Accuracy of quarterly hedge accounting (including tax calculations on affected contracts)
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Timely communication of all relevant exchange rates and ensuring all systems reflect the correct rates
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1.2) Forecasting & Budgeting
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Accurate forecasting of forex impact on I/S & CFC account balances
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Budgeting of currency differences for annual budget
1.3) Risk Management
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Assess opportunities for systemization and process enhancements
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Constant evaluation of most effective forex products & structures to be used
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Ensure optimum utilisation of Rand invoicing through engagement with Supply Chain
1.4) Forex requirements
• Engagement with relevant stakeholders (internal & external) to obtain, maintain & critically assess the forward cover requirements.
1.5) Reconciliations
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Perform monthly reconciliations of forex accounts.
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Ensure only valid reconciling items appear on the reconciliations and that the reconciling items are cleared timeously.
1.6) General
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Perform relevant research and technical analysis, including the attendance of economic presentations.
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Continuously assess the impact of market news & events on our forward cover buying strategy.
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Attend to all month end, year-end & external audit matters
2) Stakeholders
2.1) Internal & External
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Understanding relevant business needs and interpreting the impact and requirements from finance
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Build and manage good relationships
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Manage & build relationships with external & group service providers.
QUALIFICATIONS:
Essential:
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B.Comm or equivalent financial qualification
Preferred:
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B.Comm (Hons) or CIMA certification
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Articles of financial clerkship completed or in progress
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KNOWLEDGE :
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Knowledge of banks & financial institutions
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Ability to identify risks in financial processes
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Knowledge relating to foreign currency transactions and the financial accounting thereof.
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Good knowledge of general accounting principles & practice
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Experience with Budgeting, Forecasting, Costing & Profitability Analysis and Management Reporting
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Knowledge of various operational business cycles.
EXPERIENCE & SKILLS:
Essential:
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Minimum 3 years’ relevant experience at an Accountant level.
Preferred:
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Retail experience will be an advantage.
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Experience in forex management will be an advantage.
SKILLS:
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Ability to work under pressure
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High level of computer literacy – advanced Excel
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Attention to detail
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Deadline driven
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Excellent time management, planning & organising skills
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Ability to work independently as well as in a team
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Performing detailed financial analysis & forecasting
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Problem solving
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Sound numerical and analytical skills
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Prioritising multiple tasks
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Good communication skills
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