Senior Accountant

Location: Nigel

Reporting to: Finance Manager / Chief Financial Officer

Position Overview

The Senior Accountant will manage and oversee the financial accounting and reporting processes for a steel manufacturing business. This includes ensuring accurate financial reporting, implementing strong internal controls, analyzing production costs, and driving compliance with statutory and industry regulations. Given the capital- and energy-intensive nature of the steel industry, the Senior Accountant will play a pivotal role in monitoring raw material costs (scrap, billets, ferroalloys), energy consumption, furnace operations, rolling mill expenses, and workforce-related costs within a unionized environment. The position requires both technical accounting expertise and a strong understanding of steel industry dynamics to provide financial insights that support operational efficiency, profitability, and long-term sustainability.

Key Responsibilities

1. Financial Accounting & Reporting

• Prepare accurate monthly, quarterly, and annual financial statements in accordance with IFRS.

• Oversee month-end and year-end closing activities, including journal entries, reconciliations, accruals, and provisions.

• Maintain the general ledger and ensure all transactions are accurately recorded.

• Conduct variance analysis against budgets and forecasts, providing explanations for fluctuations in raw material, labour, and energy costs.

• Consolidate financial results across different departments (furnaces, rolling mills, finishing, distribution).

• Prepare board packs and financial presentations for senior management.

2. Cost Accounting & Production Analysis

• Implement and maintain standard costing systems tailored to steel production processes.

• Analyse cost drivers such as:

• Raw materials: scrap, billets, ferroalloys, fluxes.

• Energy: electricity for Electric Arc Furnaces (EAF), induction furnaces, natural gas, oxygen supply.

• Labour: direct and indirect, including overtime and union-related pay scales.

• Maintenance: planned and unplanned downtime of furnaces and rolling mills.

• Prepare cost-per-ton reports for steel output and track production efficiencies.

• Partner with operations managers to identify cost-reduction opportunities and efficiency gains.

3. Budgeting, Forecasting & Financial Planning

• Prepare annual budgets and rolling forecasts for operating and capital expenditure.

• Monitor and control variances between actual vs. budgeted production and operating costs.

• Model the financial impact of fluctuations in raw material prices and energy tariffs.

• Provide input into long-term financial planning, capex projects (new furnaces, rolling mill upgrades), and expansion feasibility studies.

4. Compliance, Audit & Governance

• Ensure compliance with SARS (VAT, PAYE, Income Tax, EMP201/501 submissions)

. • Manage external audits and coordinate audit schedules, ensuring a clean audit report.

• Implement and monitor internal financial controls to prevent fraud, errors, and misstatements.

• Maintain compliance with company policies, statutory requirements, and OHSA-related financial obligations.

5. Treasury & Cashflow Management

• Monitor daily cash flow, working capital, and liquidity.

• Oversee bank reconciliations, supplier payments, and customer receipts.

• Manage credit control and liaise with debtors to improve collections.

• Assist in securing trade finance facilities, import/export financing for raw materials, and forex management (if applicable).

6. Team Leadership & Stakeholder Engagement

• Supervise and mentor junior accountants, accounts clerks, and finance support staff.

• Provide financial guidance to operational managers, production planners, and procurement teams.

• Act as a finance business partner to the operations team, linking financial performance to production realities.

Key Requirements Qualifications

• BCom Accounting / Finance Degree (essential).

• BCom Honours / CA(SA) / CIMA (advantageous).

• Additional training in cost accounting or manufacturing finance highly desirable. Experience

• 5–8 years’ progressive accounting experience, with at least 3 years in a manufacturing or steel/metal industry.

• Proven track record in costing, variance analysis, and financial reporting for a heavy industrial environment.

• Strong exposure to ERP systems (Sage 50 and Sage 200, SAP, Syspro, Oracle, or similar).

• Prior experience supporting external audits and financial compliance processes. Skills & Competencies

• Advanced proficiency in MS Excel (pivot tables, VLOOKUP, financial models).

• Strong understanding of IFRS and South African tax legislation.

• Excellent analytical and problem-solving skills.

• Strong communication and negotiation skills, especially when liaising with production managers, suppliers, and auditors.

• Ability to work under pressure in a fast-paced, production-driven environment.

• High levels of accuracy, attention to detail, and financial discipline.

Core Competencies

• Commercial Awareness – understands how raw material costs, energy prices, and production efficiency impact profitability.

• Strategic Thinking – supports long-term financial sustainability and growth projects.

• Integrity & Ethics – always maintains financial discipline and compliance.

• Leadership – ability to manage and mentor finance teams effectively.

• Continuous Improvement – drives automation, process improvements, and financial efficiency in reporting and analysis.