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