Financial Manager – Developer – Cape Town , South Africa
11 Jul 2024
Region:
Southern Africa
Country:
South Africa
Company:
Mulilo
Segment:
Developer
Experience:
3+

About the Company

Since its establishment in 2008, Mulilo has grown into one of the leading Independent Power Producers (IPP) in Southern Africa. Mulilo is majority owned by Copenhagen Infrastructure Partners, the world’s leading private equity investor in renewable energy assets, through its New Markets Fund I. Mulilo has concluded numerous PPA’s in both the Department of Mineral Energy’s Renewable Energy Independent Power Producer Programme (REIPPP) and with several large corporate energy users. Mulilo currently operates 450MW of wind and solar PV projects and has a further 500MW of projects under financial close. Having adopted a strategy that aligns with the company’s long-term vision, Mulilo has accumulated a pipeline of projects exceeding 25GW, and is now positioned as a key player in the renewable energy sector.

Mulilo places strong emphasis on its human capital and prides itself in providing a world class working environment for all its employees, thereby placing huge value on career progression and personal growth.

Mulilo is guided by strong ethical principles and adheres to its environmental, social and governance responsibilities.

About Copenhagen Infrastructure Partners (CIP)

Founded in 2012, CIP is the world’s largest dedicated renewable energy fund manager and a global leader in offshore wind. CIP currently manages over 20 billion Euro’s, with a target of having 100 billion Euros under management by 2030. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

Duties and responsibilities

Team Management

  • Manage the finance team consisting of 5 team members
  • Key liaison between the finance team and the various department

Operational

  • Oversee the billing and the capturing process of invoices
  • Oversee the project budgeting process and ensure budgets are up to date
  • Complete tasks relating to the closure of the monthly management process
  • Oversee and ensure that vendors are paid timeously
  • Review of invoices for payment and approval thereof
  • Assist with the financial closure process of projects
  • Assist with the bidding process of new projects
  • Ensuring recoverable costs are billed to clients
  • Assist with requests from the various departments
  • Reviewing operational reports prepared by contractors
  • Preparing internal operational reports for various stakeholders
  • Involvement in finance related operational matters for example insurance cover, carbon tax and related credits.
  • Management of key reports, including contracts as required by PPA’s, Facility Agreements & other

Reporting

  • Review revenue, purchase orders and invoices for accuracy, classification and approval
  • Ensure monthly accounting entries are accurately captured in ERP system (the Group-wide accounting software) and in line with the Group’s monthly close timings
  • Reviewing the monthly accounting entries made and ensuring key checks and controls (e.g., bank reconciliations, aged debt analysis) have been performed
  • Preparing monthly management accounts for operating SPV, service companies and other group companies
  • Reporting actuals vs approved budget
  • Investigating, understanding, and explaining variances – working with local asset management team
  • Preparation of the board pack slides
  • Preparation of reporting slides to the audit committee
  • Where possible, look for opportunities to improve P&L performance

Preparing annual budget and reviews

  • Prepare an overall annual budget for the group and individual service entities
  • Probe the figures provided by the various departments for reasonability and accuracy
  • Simulate cash flows and forecasts

Loan Compliance

  • Understanding the terms in the various facility and shareholders agreements.
  • Preparing loan compliance reports as necessary
  • Ensuring debt service payments are paid on time and accurately
  • Being the key relationship point for interaction with lenders

Working capital management

  • Coordinating accounts payable process to ensure all invoices are logged, approved and paid on time
  • Ownership of local cash planning and management
  • Being the key relationship point for local banking providers
  • Responsible for local compliance with Group financial control policies (e.g., approval matrix, bank authorities).
  • Cash flow management and forecasting
  • Prepare equity contribution slides for shareholder consideration

Coordinating local audit work for any local statutory audit requirements and Group audit review

  • Coordinating & managing local audit timetable
  • Preparing audit deliverables
  • Co- ordinating the AFS preparation
  • Manage consolidation of multiple companies
  • Report to the audit committee

Ensuring tax compliance for Operating and Service Companies

  • Ensuring corporate income tax returns prepared by tax adviser are filed timely and accurately
  • Ensuring VAT returns are filed timely and accurately where applicable
  • Ensuring payroll & payroll taxes are filed timely and accurately
  • Ensuring withholding tax etc (if applicable) are paid timely and accurately
  • Ensuring all tax payments due are paid on time.

ERP system

  • Ensuring the new ERP system functions as designed
  • Ensuring the objectives laid down for the phase II of the project are achieved
  • Monitoring and measuring the effectiveness of the processes within the new ERP system
  • Training and supporting the business wherever necessary.

Payroll

  • Complete the full payroll function in conjunction with HR
  • Obtain employee changes information from HR and load the changes on the payroll system
  • Ensure all changes are captured with key consideration for tax implications.
  • Review the payroll information and send for approval
  • Ensure payroll information accurately captured on the banking system and approved
  • Execute the payroll and ensure the entries correctly reconcile with the ERP system
  • Ensure payroll taxes are paid on time and payroll leave adjustments are correctly reflected

Communication

  • Effective communication with various stakeholders is critical
  • Financial requirements and operational matters communicated to stakeholders at board level

Required skills and education background

  • Degree in Accounting/Finance and a recognized accounting qualification is essential. CA (SA) is preferred.
  • At least 3 years’ experience, ideally within an energy, utility, industrial company or similar industry
  • Experience in project finance loan management is an advantage
  • Caseware knowledge is advantageous
  • Understanding of IFRS, Budgeting, Forecasting and Financial Analysis
  • Good relationship builder with excellent communication skills
  • Excellent command of the English language – both written and verbal
  • Excellent Excel Skills
  • Familiarity with Financial modelling would be an advantage

Desirable attributes

The ideal candidate would have a passion for the Renewable Energy sector and personality traits would include a high level of diligence, determination, resilience, and agility.

Mulilo is an employer of choice and is offering an extremely competitive total remuneration package for this position.

Additional Information

Able to work overtime according to operational needs.

The position is based at the offices of the company, but travel may be required occasionally.

Apply here.