We've got an exciting, brand new opportunity at Ackermans as a Accountant: Forex in our Finance Retail Accounting team. This role will manage and administer the total forex function, including technical accounting and other relevant compliance matters for Ackermans and the Pepkor Speciality retail brands.

We're a fully in-office team. This role is based at our Support Centre in Kuils River, Cape Town.

QUALIFICATIONS required

Essential

B.Comm or equivalent financial qualification

Preferred

B.Comm (Hons) or CIMA certification

Articles of financial clerkship completed or in progress

KNOWLEDGE required

Knowledge of banks & financial institutions

Ability to identify risks in financial processes

Knowledge relating to foreign currency transactions and the financial accounting thereof.

Good knowledge of general accounting principles & practice

Experience with Budgeting, Forecasting, Costing & Profitability Analysis and Management Reporting

Knowledge of various operational business cycles.

EXPERIENCE & SKILLS required

Essential

Minimum 3 years’ relevant experience at an Accountant level.

Preferred

Retail experience will be an advantage.

Experience in forex management will be an advantage.

SKILLS required

Ability to work under pressure

High Levels of computer literacy – advanced Excel

Attention to detail

Deadline driven

Excellent time management, planning & organising skills

Ability to work independently as well as in a team

Performing detailed financial analysis & forecasting

Problem solving

Sound numerical and analytical skills

Prioritising multiple tasks

Good communication skills

KEY RESPONSIBILITES

1) Forex Management

1.1) Forward cover buying

To ensure compliance with, and relevance of, Group forex policy

Timely execution & recording of forward cover purchases & subsequent settlement thereof

Monthly and ad-hoc reporting of forward cover position

Accuracy of quarterly hedge accounting (including tax calculations on affected contracts)

Timely communication of all relevant exchange rates and ensuring all systems reflect the correct rates

1.2) Forecasting & Budgeting

Accurate forecasting of forex impact on I/S & CFC account balances

Budgeting of currency differences for annual budget

1.3) Risk Management

Assess opportunities for systemization and process enhancements

Constant evaluation of most effective forex products & structures to be used

Ensure optimum utilisation of Rand invoicing through engagement with Supply Chain

1.4) Forex requirements

• Engagement with relevant stakeholders (internal & external) to obtain, maintain & critically assess the forward cover requirements.

1.5) Reconciliations

Perform monthly reconciliations of forex accounts.

Ensure only valid reconciling items appear on the reconciliations and that the reconciling items are cleared timeously.

1.6) General

Perform relevant research and technical analysis, including the attendance of economic presentations.

Continuously assess the impact of market news & events on our forward cover buying strategy.

Attend to all month end, year-end & external audit matters

2) Stakeholders

2.1) Internal & External

Understanding relevant business needs and interpreting the impact and requirements from finance

Build and manage good relationships

Manage & build relationships with external & group service providers.