Overview
Work History
Education
Skills
Coursework
Specialachievements
Leadershiproles
Professionalmemberships
Reasonforleaving
Previousctc
Performancebonus
Nextincrease
Personal Information
Timeline
Generic

Theobald Thulani Zulu

Chartered Accountant CA(SA)
Kempton Park,GP

Overview

2025
2025
years of professional experience
11
11
years of post-secondary education
5
5
Languages

Work History

Senior Manager: Financial Reporting

South African National Blood Services
4 2023 - Current
  • Company Overview: Nature of Business: Healthcare and Services
  • Financial management of all daily, monthly and annual financial functions to ensure integrity of SANBS financials
  • Maintain cash flow forecasts and management procedures to optimize cash flow and enable planning
  • Place funds on daily call or in specified short-term accounts to maximize return on funds
  • Incurring no overdraft charges in meeting current liabilities (unless shortage is beyond the control of the Finance Department)
  • Maintain liaison / relationships with external Stakeholders, concerning pricing and cash flow management e.g.: DOH (Department of Health)
  • Establish and maintain working relationships with senior management at financial institutions holding the current and call accounts
  • Report on cash flow statistics and cash flow projections to senior management
  • Manage all financial reporting by standard accounting practices to facilitate the audit process and reporting of accounts to meet the needs of internal and external Stakeholders
  • Manage all accounting, including the cashbook, bank reconciliation, general ledgers, fixed asset register and reconciliation of balance sheet accounts
  • Manage monthly cost variations and obtain justifications with no outstanding inputs
  • Prepare monthly and annual reports that provide detailed zone and operational financial performance to the Board of Directors, National Directorate, management and external Stakeholders
  • Provide reports that are timeous, accurate and contain information to enable effective management decision-making
  • Prepare and manage VAT and all other statutory returns in accordance with relevant legislation
  • Perform all financial reporting obligations in compliance with Company Law and relevant legislation
  • Optimise the use of IT systems (such as SAP system) to improve efficiency in transaction processing and improve quality of service to clients by ensuring that SAP procedures are adhered to and all staff members trained according to the requirements of the Department
  • Plan and manage the annual accounts closure within agreed time frames to facilitate the audit process by preparing the annual financials
  • Strategic planning and objective setting through establishing, developing and managing the business plan for the area being managed
  • Develop relevant financial strategic objectives (incorporate medium to long-term objectives) and business plans for the Finance Department in line with Board directives
  • Collaborate with the Chief Financial Officer and Executive management to develop long term strategic plans for the Division
  • Participate in business planning sessions and motivate acceptance of the business plan for the area being managed
  • Communicate the plan to Stakeholders and negotiate and implement individual service level agreements with the zone
  • Engage with internal and external Stakeholders to develop a preliminary business plan together with the Chief Financial Officer - this will entail establishing relevant targets for Departments
  • Identify risks on an enterprise and Divisional level and develop plans to mitigate and reduce risk
  • Assist the Chief Financial Officer with the development of National initiatives for the Division and develop project plans for implementing agreed decisions
  • Develop strategic objectives and financial planning for cost control
  • Develop relevant financial strategic objectives (incorporating medium to long-term objectives) and business plans for the organization in line with Board directives
  • Consolidate financial business plans to include realistic cash flow forecasts for projection purposes, cost control measures, budgets and recommendations for improved controls and financial procedures
  • Manage the annual budget
  • Implement cost control and budget procedures
  • Mentor Departmental management on budget control procedures
  • Provide input to analyze and optimize the negotiation of external contracts
  • Consolidate and present annual budgets to senior management for approval by deadlines
  • Monitor compliance with policies and procedures, statutory requirements and accounting best practice
  • Compile and implement financial management policies and procedures to ensure internal control and sound financial practices
  • Draw up financial policies and procedures that comply with the relevant statutory and accounting practices
  • Ensure such policies and procedures meet with the approval of external Auditors
  • Revise policies and SOPs as operational needs dictate
  • Monitor organization’s financial compliance with statutory and accounting best practices
  • Ensure Standard Operating Procedures (SOP’s) are observed by all line Department staff members
  • Monitor internal controls
  • Incurring no fines due to non-compliance with statutory returns / payments
  • Notify senior management of any deviations from King II, IFRS (International Financial Reporting Standards) and of any breaches of the Company’s Act
  • Coordinate annual audit process resulting in unqualified audit reports with no reporting issues
  • Analyse changes to legislation to investigate the impact on the organization and implement any legislation affecting SANBS if required
  • Conduct performance management and monitor performance on ongoing basis through mentoring, coaching and reviews according to agreed time frames and take appropriate steps to correct problems
  • Track and drive individual development plans for all staff members by identifying general training and staff member development needs and ensure that staff members attend organized training programs
  • Ensure the completion of all technical training as per a training plan developed in conjunction with relevant Departments and other Divisions
  • Deal with grievances, conflict and disciplinary issues and take appropriate corrective actions by SANBS Policy on matters related to misconduct and incapacity (performance and ill-health), to improve productivity
  • Ensure regular two-way communication with staff members on all general staff members matters such as Principles of Excellence, team building, SOPs, policy changes to ensure understanding, required competency as well as compliance with SOP criteria and Good Laboratory Practice Guidelines
  • Monitor and control staff members time-keeping records, general and specific absenteeism trends and overtime worked to ensure adherence to SANBS HR policy and relevant National Legislation and take appropriate corrective action where necessary
  • Monitor the coordination and control of shift exchanges and employee leave and sick leave to ensure the provision of adequate personnel for the cost-effective running of the Department and submit required documentation to HR by the agreed day of the month
  • Recruitment and the selection of suitable candidates according to manpower plan R&S procedures and EE targets
  • Attend information meetings and appropriate training sessions as required, to remain informed of current field-related developments, to promote knowledge sharing where relevant according to IPA specifications
  • Manage financial risks to mitigate threats to the financial integrity of SANBS
  • Develop management plans for the identification of financial risks and action plans to mitigate threats that minimize the probability of identified significant risks occurring
  • Implement an effective system for performance measurement (including benchmarking) for risk management
  • Accomplishment of financial objectives for the Department
  • Develop and manage the National budget for areas of responsibility
  • Prepare Department cost center report monthly with an explanation of variances and corrective action taken
  • Approve expenditure as per defined limits
  • Make formal presentations of the financial and sales data at relevant meetings
  • Provide managerial staff members with relevant information about the finances of the area being managed
  • Approve expenditure as per defined limits
  • Take timeous and appropriate action where sustainability could be compromised
  • Nature of Business: Healthcare and Services
  • Reason for leaving: In Thulani’s previous environment the pace and extent of his deliverables were significantly greater than what he is currently experiencing
  • Thulani doesn’t feel that his skillset is being fully utilised hence looking to join an environment with a more comprehensive portfolio of duties

Finance Manager

Transnet SOC Ltd
01.2009 - 12.2022
  • Company Overview: Nature of Business: Transport and Rail
  • Finance Manager: Aug 2015 to Dec 2022
  • Revenue and Cost Saving Initiative:
  • Identified areas in which costs could be saved or delayed without affecting the normal operations of the business
  • Identified assets that can be used to generate additional income
  • Put monitoring measures in place
  • Measured and monitored the initiatives on a monthly basis
  • Analysed the monthly performance vs initial measures
  • Improved the initiatives based on performance
  • Reported on a monthly basis
  • Identified assets that were not utilized in the business and not in line with the strategy
  • Initiated the disposal of assets that were not in line with the strategy
  • Additional revenue and cost saving initiatives
  • Identified Suppliers - negotiated with regard to payment terms
  • Identified customers - negotiated with for early payments and long outstanding debtors
  • Improved Cash Inflow Within the Business:
  • Identified assets that were not utilized in the business and not in line with the strategy
  • Initiated the disposal of assets that were not in line with the strategy
  • Additional revenue and cost saving initiatives
  • Identified Suppliers - negotiated with regard to payment terms
  • Identified customers - negotiated with for early payments and long outstanding debtors
  • Financial Reporting, Management Accounting and Financial Management:
  • Oversaw the payment process and accrual process
  • Reviewed the inter group transaction and ensured that they agreed with other Divisions’ within Transnet and investigated if they were differences
  • Reviewed the fixed assets report and agreed it to the general ledger
  • Provided guidance on the application on the accounting treatment, IAS 40 and IAS16
  • Initiatives for cost cutting and management
  • Identified opportunities for cost cutting and management
  • Developed and managed a tracking tool for cost cutting and management
  • Analysed the progress and offer reasons
  • Reviewed the trial balance and ensured that the information were accurate and complete
  • Mapped the Division accounts to Group accounts
  • Ensured all transaction were accounted for and reviewed the accounts to prepare for closing the period
  • Prepared the Flash report
  • Completed the Group reporting template
  • Prepared the management reports (income statement, balance sheet and cash flow)
  • Consolidated 2 entities
  • Prepared the FINCO and EXCO reports
  • Prepared the interim and year-end financial statement
  • Budgets:
  • Developed and updated the budgeting template
  • Implemented the budget guideline from Transnet Group
  • Explained the updated to relevant Departments
  • Determined the appropriate cost allocation method and applied it to allocate cost during the budgeting period
  • Reviewed the budget template completed by the Departments
  • Consolidated the budget template
  • Mapped the Division accounts to Group accounts
  • Performed the analysis of the budgets
  • Reviewed the Actual Against the Budget:
  • Compared the actual results against budgeted results
  • Investigated the variance and explained variances
  • Prepared the reports (FiNCO and EXCO)
  • Forecasting the Performance of the Division:
  • Used the current lease contract that were on the system and enquired about the leases that were on the final stage of negotiations in order to forecast the revenue
  • Looked at the current covering ratio, to forecast how much would be recovered from the customers
  • Removed once off cost
  • Compared the forecast against the budget
  • Explained the variances
  • Capital Project Financial Valuation and Modelling:
  • Analysed the information given
  • Cash forecasting based on the information available
  • NPV, IRR the cash flow and documented the results
  • Projects involved in: liquid petroleum gas store in a port, renovation, improving of Carlton Center and Carlton Towers, involved in a project where two building were renovated to lease out
  • Management:
  • Accounts Payable Department:
  • Ensured payments were done on time and complied with the policy of the company
  • Ensured that every transaction were correctly accounted for and information were complete
  • Reviewed the accruals and ensured that information were complete
  • Taxation Department:
  • Reviewed the VAT return and offered guidance with regard to the VAT Act
  • Reviewed the monthly income tax calculation and offered guidance
  • Assets Department:
  • Updated the Assets Department with regards to the changes in IFRS
  • Offered training with regard to changes in IFRS
  • Project accounting and ensured capitalization were done in time
  • Reviewed the assets on the monthly basis and ensured that everything were properly recorded and were complete
  • Cash Management Department:
  • Reviewed the 90 days cash forecast
  • Prepared the 12 months cash forecasting
  • Offered guidance in the Cash Management Department
  • Reporting Accountant: Jan 2012 to Aug 2015
  • Financial Reporting, Management Accounting and Financial Management:
  • Reviewed the inter group transaction and ensured that they agreed with other Divisions' within Transnet and investigated if they were differences
  • Reviewed the fixed assets report and agreed it to the general ledger
  • Reviewed the taxation
  • Provided guidance on the application on the accounting treatment, IAS 40 and IAS16
  • Reviewed the trial balance and ensured that the information were accurate and complete
  • Mapped the Division accounts to Group accounts
  • Prepared the Flash report and uploaded it on SAP
  • Completed the Group reporting template and uploaded it to SAP
  • Prepared the management reports (income statement, balance sheet and cash flow)
  • Prepared the FINCO and EXCO reports
  • Prepared the interim and year-end financial statement
  • Budgets:
  • Developed and updated the budgeting template
  • Implemented the budget guideline from Transnet Group
  • Explained the updated to relevant Departments
  • Determined the appropriate cost allocation method and applied it to allocate cost during the budgeting period
  • Reviewed the budget template completed by the Departments
  • Consolidated the budget template
  • Mapped the Division accounts to Group accounts
  • Performed the analysis of the budgets
  • Reviewed Actual Against the Budget:
  • Compared the actual results against budgeted results
  • Investigated the variance and explained variances
  • Prepared the reports (FINCO and EXCO)
  • Forecasting the Performance of the Division:
  • Used the current lease contract that were on the system and enquired about the leases that were on the final stage of negotiations in order to forecast the revenue
  • Looked at the current covering ratio, used that to forecast how much will be recovered from the customers
  • Removed once off cost
  • Compared the forecast against the budget
  • Explained the variances
  • Capital Project Financial Valuation and Modelling:
  • Analysed the information given
  • Cash forecasting based on the information available
  • NPV, IRR the cash flow and document the results
  • Projects involved in: liquid petroleum gas store in a port, renovation and improving of Carlton Center and Carlton Towers, involved in a project where two buildings were renovated to lease out
  • Trainee Accountant: Jan 2009 to Dec 2011
  • Management Accounting:
  • Assisted with the preparation of budgets
  • Analysed actual against budgeted results
  • Investigated variances and documented the reasons
  • Determined the appropriate cost allocation method and applied it to allocate costs
  • Financial Management:
  • Analysed financial results used appropriate formulas and commented on the results
  • Prepared the cash flow forecasts and determined whether there were a short fall or excess
  • Risk management on derivatives
  • Valuated derivatives
  • Analysed the working capital requirements of the business
  • Assisted in the Funding Division of Transnet
  • Developed a valuation model and using it in the valuation of projects
  • Taxation:
  • Assisted in the calculation of monthly and year end taxation expense and deferred taxation
  • Determined the appropriate capital gains taxation
  • Collected taxation schedules from different ports in TNPA, reviewed and consolidated them
  • Loaded the taxation schedules into Corpsmart
  • Financial Reporting:
  • Accounting for transaction in accordance with International Financial Reporting Standards (IFRS)
  • Reconciled accounts
  • Ensured that the information were accurate and complete
  • Prepared the financial statements of TNPA
  • Internal Auditing:
  • Documented the entity's key business processes and key controls
  • Evaluated internal controls
  • Assessed whether existing internal controls were functioning as required
  • Assessed the impact of findings on the work to be performed
  • Nature of Business: Transport and Rail
  • Reason for leaving: After being with the business for 12 years in a number of positions, Thulani was in a fortunate position to take a short-term sabbatical whilst dedicating sufficient time to securing a new opportunity

Education

Bachelor of Accounting Science - Accounting

University of The Witwatersrand
University Of Witwatersrand
04.2001 - 12.2011

Diploma - Business Management

Roodepoort College

Matric - English, IsiZulu, Mathematics, Accounting, Business Economics, Physical Science

Masisebenze Secondary School

Skills

Microsoft Excel

Coursework

  • National Qualification Framework 4, 5 and 6: Business Management
  • Accounting Professional Training Certificate

Specialachievements

  • 2008, Scholarship from TATA
  • 2007, Distinction in Taxation and Scholarship from Coca Cola
  • 2006, Three Distinctions (Financial Accounting, Management Accounting and Business Statistics)
  • 2005, First Class in Accounting
  • 2002, First Place in National Exams (Financial Accounting) and Best Student in Accounting

Leadershiproles

  • 2015, Member of the IFRS Committee for Transnet
  • 2015, Member in Finco and OPCO Committee
  • 2015, Team Leader in IFRS Changes within the Division
  • 2011, Acting as a Financial Reporting Manager: Transnet (TNPA)
  • 2010, Acting as a Management Accountant Manager: Transnet (TRE - Germiston)
  • 2009 to 2011, Member of the TOPP Committee
  • 2009, Acting as a Cash Management Manager: Transnet (Group)
  • 2008, Acting as a Taxation Manager: Transnet (TNPA)

Professionalmemberships

South African Institute of Chartered Accountants (SAICA), 20018516

Reasonforleaving

  • South African National Blood Services, In Thulani’s previous environment the pace and extent of his deliverables were significantly greater than what he is currently experiencing. Thulani doesn’t feel that his skillset is being fully utilised hence looking to join an environment with a more comprehensive portfolio of duties.
  • Transnet SOC Ltd, After being with the business for 12 years in a number of positions, Thulani was in a fortunate position to take a short-term sabbatical whilst dedicating sufficient time to securing a new opportunity.

Previousctc

R 1 355 000.00 per annum

Performancebonus

Dependant on Individual and Company Performance (06/2024)

Nextincrease

04/2024

Personal Information

  • Available: One Calendar Month
  • ID Number: 8207215343081
  • Gender: Male
  • Nationality: South African

Timeline

Finance Manager

Transnet SOC Ltd
01.2009 - 12.2022

Bachelor of Accounting Science - Accounting

University of The Witwatersrand
04.2001 - 12.2011

Diploma - Business Management

Roodepoort College

Matric - English, IsiZulu, Mathematics, Accounting, Business Economics, Physical Science

Masisebenze Secondary School

Senior Manager: Financial Reporting

South African National Blood Services
4 2023 - Current
Theobald Thulani ZuluChartered Accountant CA(SA)