The closing date for applications will be Friday, 04 June 2021.
Responsible for ensuring the accuracy and completeness of the Massmart leases on the relevant lease system and to ensure correct disclosure and accounting of IFRS 16 for Group Consolidation purposes
FUNCTIONS / RESPONSIBILITIES:
General Ledger / Income Statement / Balance Sheet:
- Complete balance sheet reconciliations for lease accounting.
- Ensure Checklist for lease agreements completed by Legal team, capturing and abstraction of the relevant banner’s leases in the relevant lease system.
- Prepare monthly journals for the adoption of IFRS 16.
- Review monthly reports from relevant lease system received from Group, and use to prepare monthly reconciliation.
- Analyse monthly reports from relevant lease system to allow the reconciliation of lease accounting to the trial balances.
- Provide training to associates using the relevant lease system and day-to-day functions are to be performed to promote consistency of approach.
- Assist the Banner Reporting Team with statutory reporting of IFRS 16 out of the relevant lease system and assisting with any queries raised by the Group Reporting Team
- Review reports that form the basis for users of Financial Statements to access the relevant reporting arising from Leases.
- Ensure compliance with the Walmart Policy
- Assist management with Adhoc requests and reporting
Queries:
- Manage and liaise with Group any queries on lease accounting reported out of the relevant lease system.
- Assist in and respond to all queries related to monthly performance from cost centre owners as well as transactions and reconciliations.
- Provide advice as required to other business areas to ensure clarity concerning financial performance and financial requirements.
- Liaise with relevant bodies and representatives as required to ensure that any queries are answered in a prompt and efficient manner.
Ensure that IFRS16 is recognised and entrenched within the business:
- To provide support to the business on request.
- Interface between business, Legal and Real Estate.
- Input and assist with all monthly, quarterly and group-wide communications.
- Awareness of and implementation of change in Policies and Procedures and decision making rights communicated from Walmart.
- Perform duties on an ad-hoc basis that have an impact on the control around Lease Abstraction.
- Assist the Finance Manager with information and dashboards on deliverables.
- Assist in the review, accuracy and completeness of all Lease Agreements.
Processes:
- Provide input and recommendation for improvement regarding the adequacy of Lease Accounting controls implemented and maintained in the finance environment.
- Provide assistance to the Finance Manager to ensure that all IFRS16 controls and processes related to Leases are followed and embedded for the business.
- Ensure accurate and complete daily record keeping / integrity of the relevant lease System.
- Ensure continued improvement of processes and systems.
- Ensure accurate and complete daily record keeping / integrity of financial records for entities falling into the role responsibility.
- Ensure adequate and appropriate provisioning for entities falling into the role responsibility.
- Ensure continued improvement of processes and systems.
- Ensure timely monthly flash and management accounts.
People Management:
- Train all associates that will need access to relevant lease system.
- Develop Individual Development Plans to enable employee career plans.
- Manage Team Delivery based on performance plans.
- Foster team building.
Requirements:
Minimum Academic, Professional Qualifications and Experience required for this position:
- BCom Degree/ CA.
- 2 – 3 years operational experience.
Competencies and Skills:
- One Walmart/Massmart mindset.
- Shapes Business Strategy.
- Drives accountability and high performance.
- Business acumen.
- Fosters teamwork and collaboration.
- Role models customer focus.
Desired Skills:
- Lease Agreements
- Lease Accounting
- Lease System
- Monthly Reconciliation
- IFRS16 controls
Desired Qualification Level:
- Degree