Finance Manager
PermanentJob Overview
For more than 20 years, Globeleq has been a long-term investor, developer, owner and operator of diversified power projects in Africa, where the company is one of the largest Independent Power Producers. With nearly 1,800MW of generation capacity in operation across 17 power plants in 7 countries, 485MW of new power projects in construction and >2,000MW in development, Globeleq is one of the largest independent power producers solely focused in Africa. Globeleq is 70% owned by British International Investment and 30% by Norfund, the development finance institutions of the UK and Norway, and has a proven track record for supporting the ongoing development of the African power sector.
Globeleq’s various generation technologies include gas, wind, solar PV, battery energy storage (BESS), and geothermal. The company is also actively pursuing new opportunities which are emerging from the energy transition. In South Africa, Globeleq owns and operates renewable energy (RE) power plants throughout the country.
The Finance Manager is responsible for the reporting and financial management of various project companies within the portfolio. The role encompasses full responsibility for the finance function of eight operational power plants and will be the finance business partner to the operations team on these plants. Additionally, the Finance Manager manages the finance budget, maintains the financial models, treasury operations, and ensures compliance with local tax reporting requirements.
The position requires an individual with sound technical, business and financial reporting skills as well as knowledge of financial systems, financial processes and internal control mechanisms.
This role is based in Cape Town and may involve occasional travel within South Africa.
Globeleq’s various generation technologies include gas, wind, solar PV, battery energy storage (BESS), and geothermal. The company is also actively pursuing new opportunities which are emerging from the energy transition. In South Africa, Globeleq owns and operates renewable energy (RE) power plants throughout the country.
The Finance Manager is responsible for the reporting and financial management of various project companies within the portfolio. The role encompasses full responsibility for the finance function of eight operational power plants and will be the finance business partner to the operations team on these plants. Additionally, the Finance Manager manages the finance budget, maintains the financial models, treasury operations, and ensures compliance with local tax reporting requirements.
The position requires an individual with sound technical, business and financial reporting skills as well as knowledge of financial systems, financial processes and internal control mechanisms.
This role is based in Cape Town and may involve occasional travel within South Africa.
Key Responsibilities
Prepare and manage transactional and reporting processes
- Maintenance and responsibility for the accuracy and timeliness of the
books and records, including general ledgers and any other reporting, - Maintenance of the fixed asset ledger for all the project SPV’s,
- Ensure that month end accounts are closed by working day four
- Overall responsibility of the accuracy and completeness of the P&L and Balance Sheets
- Review reconciliations
- Prepare the finance inputs for monthly analysis and input for monthly shareholder and stakeholder reports
- Prepare the finance inputs for Board meeting reports.
Cash Flow Management
- Cash management responsibility, ensuring cash use is maximised for the project SPV and all lender covenant requirements are met,
- Timely cash reporting and forecasting,
- Maintain treasury banking relationships, including primary day-to-day interface with operational bank providers,
- Liaison with lenders and auditors to ensure compliance with all filing requirements and assist in the resolution of new accounting issues
- Review and approve payments (electronic banking or manual)
- Repayment of loans – review calculations for accuracy before processing payments
- Payment of dividends and distributions to shareholders
Statutory and Compliance Reporting
- Preparation and sign-off of annual audited accounts/financial statement preparation in accordance with IFRS
- Ensure all CIPC and other related reports are filed timeously
- Working closely with the Group tax manager and tax practitioner, manage all local tax issues for the project SPV’s
- Ensure tax compliance requirements are met, including all corporation tax, VAT and WHT returns
- Manage external tax advisors and coordinate advice as required
- Manage the process of obtaining tax clearance certificates and any advanced rulings that are deemed necessary
- Lead the response to all tax audits, liaising with local tax advisors as required
- Review and where necessary assist with Value Added Tax (VAT) and VAT returns
- Ad hoc compliance reports from various institutions including Stats SA, NERSA, etc.
Budget and Forecasting
- As business partner to the operations team, support the budget and forecasting process
- Analysis and reporting of the budgets to group
- Ensure timeous uploading of budgets into the accounting system
Support the Broader Finance Team:
- Ad hoc support to the finance team on items including but not limited to: budgeting, BBBEE reporting, vendor management, Economic Development reporting, etc.
- Undertake ad hoc finance responsibilities in support of the Globeleq group, as appropriate
Skills and Competencies
- Well-developed financial and management accounting skills, including IFRS
- Ability to work in fast-paced and changing environment
- Ability to manage stress and high-pressure situations
- Willing to travel occasionally within South Africa to Power Plants and Johannesburg office.
- Strong understanding of systems of internal control and financial compliance matters. High level of integrity and strong work ethic
- Excellent interpersonal, planning and organising skills
- Time management including the ability to meet deadlines
- Excellent analytical skills
- Very good written and oral communication skills
- Takes initiative
- Good team player; able to balance team and individual responsibilities.