Sun, 17 February, 2019
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Financial Manager - Property
Posted date [2019-Feb-06]  (ID: 2772)
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The purpose of MGI Consulting Recruitment Services is to recruit high quality permanent and/or contract staff on your behalf to your satisfaction.

In order to satisfy your needs we have set for ourselves a set of objectives aimed at ensuring your requirements are met in an efficient and professional manner.

We believe that if you are to benefit from utilizing our services it is important that you profit by it, and this can only be achieved in our business if the candidate we put forward meets your exacting requirements and remains in your employ.

Having started in 1996, MGI has a tradition of continuity and integrity. We value our clients and have consistently built up a client base and a reputation for good service reaching nationally and internationally....

Financial Manager – Property


R800 - 900 000 CTC + Performance Bonus (negotiable)



·        B.Degree + completed articles essential

·        Management experience of finance team essential

·        Not studying at present!


Core Functions 

·        Management and review of team and all their duties

·        Support to Property Managers for financial information related to their portfolio

·        Compliance and Governance at building level (Includes Audits, AFS, Tax, VAT, etc)

·        Effective Management of Cash

·        Completeness and accuracy of all financial information (Balance Sheet, Income, Expenses)


 Roles and Responsibilities          

1. Review/Analysis:        

High level review of Monthly Balance Sheet and Income Statement reconciliations for Audit File

Review of monthly Propco / Shareholder Packs (Actual YTD and forecast information) and advise PM once done

Analysis of Financial Information to check reasonability thereof

Assist Property/Centre Managers with preparation of Budgets

Review Budgets and check reasonability thereof

Review of Lease Schedule against Lease Agreement to ensure correct loading of financial information in MDA

Review of Letting Commission calculation to ensure accuracy thereof

Review of monthly KPI report

Analyse utilities - over/under recoveries , difference in summer/winter tariffs, financial effect

Review/perform completeness check that all utilities have been received

Review of Municipal Accounts for Rebills and if there is interest charged

Treasury: Cash flow management (ie. Ensuring sufficient funds to make payments, and funds are optimally managed)

Ensure accuracy and completeness of billing (pre-billing checks) 18/19th of the month - review MJ's for recoveries

Ensure payovers are calculated correctly, before handing to Property Managers for operational check

Ensure payovers are paid on time

Review of VAT recon and VAT201


2. Reporting:     

Preparation and presentation of Annual Financial Statements

Preparation of Income Tax computation and submission on eFiling

Review of and assist Property/Centre Manager with Financial information in Propco / Shareholders meetings

Reporting at owner level for the full financials of a portfolio

Assist in compilation of Monthly Report Packs by coordinating with Accountant, Property Administrator and Property Manager


3. Ad hoc           

Handling of financial queries either from Property/Centre Managers or Owners - high level, which are unresolved by junior staff

Attendance of Monthly Propco Meetings

Importing Budgets into MDA

Release of Payments on Online Banking

Release of suppliers on Online Banking

Monitoring of internal control procedures to ensure Company procedures are being adhered to

Ensure all appropriate accounting standards and principles are being adhered to

Provide adequate training and support to junior staff within finance team

Liaising with Asset Managers and clients when necessary

Planning and preparation for Financial Year Ends and Audits

Assisting with Audits and Audit queries/ Liaising with Internal Auditors

Calculation and submission of income tax

Calculation of Shareholders Contributions

Preparation of Adjustment Accounts (FM)

Ensure adequate filing system is in place

Ensure all finance related Building Take-on procedures are done

Clean up of accounts - sorting out long outstanding/historical issues

Improvements in workflow/efficiencies

Identification of Council issues with PM (Keeping up to date of transfers of new accounts)

Updating PM's on utilities - bi-weekly

Relevant ad hoc tasks as and when they arise


4. Checks to perform by FM before releasing payments on Online Banking:         

Agree banking details on Standard Bank Audit Report (SBAR) to Invoice/MDA Payment Approval

Where CDI payments being made, agree bank reference on SBAR to Invoice/Statement (eg. Utility account number)

Agree amount captured to amount being paid

Ensure correct legal entity making payment and beneficiary

Ensure that all documents are signed in terms of the Levels of Authority - spot check



HOW TO APPLY: Please Register and then APPLY ONLINE
Job Title Financial Manager - Property
Nationality South African
Employment Equity Open to all Candidates
Town/City Bryanston
Location Gauteng
Country South Africa
Job Type Permanent
Industry Financial & Accounting
Salary R800-900 000 per annum + perf bonus
Languages Spoken
Job Ref No
Start Date asap
Closing Date
HOW TO APPLY: Please Register and then APPLY ONLINE