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