Professional Accountant

Current Experience:

• Accountant at Ithala Development Finance Corporation (Full-time): Jan 2022 – Present (3 years, 1 month)

PASt Experience:

• Acting Accountant at Ithala Development Finance Corporation (Full-time): Feb 2021 – Dec 2021 (11 months)

• Assistant Treasurer at Ithala Development Finance Corporation (Full-time): Mar 2014 – Dec 2021 (7 years, 10 months)

Qualifications:

• Postgraduate Diploma in Financial Accounting and

• Professional Accountant (SA)

Country of Residence:

• South Africa

LinkedIn Profile:  

Connect with Siyanda

In our mission to highlight exceptional finance professionals, Accounting Weekly presents Siyanda Wiseman Luthuli, a dedicated Accountant at Ithala Development Finance Corporation with over a decade of experience in accounting and financial management. Siyanda exemplifies passion, resilience, and a commitment to excellence in his role, making a meaningful impact in his organisation and community.

Siyanda starts his weekends at 7:00 AM, dedicating his mornings to stretching exercises and staying informed with the latest news updates, setting a balanced and focused tone for the day ahead.

What time do you usually wake up on the weekend?
I wake up at 07:00.

Are you an early bird or a night owl?
I’m a night owl.

How do you spend the first hour of your morning?
I do a few stretching exercises and browse the latest news updates.

What sparked your interest in accounting or finance?
In high school, I enjoyed both accounting and physical science, but I felt more comfortable discussing accounting with my fellow classmates. I then decided to focus on accounting because I believe the career you choose for yourself must never feel like a burden but more like a hobby. So, one can talk to me about accounting anytime of the day, I don’t mind.

Can you share some key career milestones or defining moments?
I feel privileged to work for an organisation whose mandate is to assist the previously marginalised communities. For me, that’s huge because we are able to translate people’s ideas and dreams into reality through financing their small and medium enterprises.

And, of course, being promoted to a supervisory position has given me a sense of pride, responsibility, and more dedication to my craft.

What is your role within your company’s finance department?
I report to the Finance Manager, and my role entails reviewing the transactions that are processed in the ERP system to ensure they are allocated correctly, performing monthly reconciliations, inter-company confirmations, managing payroll accounting, and assisting in the preparation of reports to the EXCO and Board.

How do you contribute to the overall financial strategy of the business?
I analyse our accounts monthly to check if we are on track to achieve our quarterly and annual targets as per the Annual Performance Plan. I immediately alert my manager when I identify shortcomings or challenges.

What is one of the biggest challenges you’ve faced in your role? How did you overcome it?
The biggest challenge has been dealing with a subordinate who is far older than me. Growing up, we were taught to respect elders, and sometimes it can be a challenge to reprimand someone who is almost twice your age.

I overcame the challenge by improving communication lines and making them understand that we are in this together. We all have to pull in the same direction and remain as professional as possible to achieve our objectives as a team.

What tools or strategies do you use to manage the financial operations of the company effectively?
We have a huge ERP system utilised by different departments and some small systems that interface with the main system. We are mostly paperless in our operations as we also use the cloud to store our documents. Additionally, we have a specialised tool for annual financial reporting.

How do you stay balanced during busy periods?
I always make sure that I take my lunch break, no matter how busy it is. This assists me in clearing my mind a bit. Sometimes, I take a walk to get some fresh air and think about other things besides work.

What do you enjoy outside of work?
I enjoy going to the gym and running. When it comes to running, especially, as much as it’s beneficial to your physical health, I feel like it builds your mental fortitude. The mental battle you need to overcome to finish a race when your body is giving up is unmatched.

Do you mentor or support other team members in the finance department?
I am one of the members who has been around for a long time in my department, so I always avail myself to assist wherever I can. There are many trainees who are fully fledged professionals today who were under my tutelage.

Helping the new entrants into the profession by translating their theoretical knowledge into practical solutions is what I enjoy the most.

What advice would you give to aspiring finance professionals?
I think anyone who wants to work in the finance space must firstly enjoy working with numbers because it can be hectic at times with tight deadlines and so forth. The margin for error is almost non-existent because you cannot report wrong information to the Board and shareholders.

They must also work on their emotional intelligence, as one needs to be a team player and know how to manage stress and pressure.

What’s your favourite quote or mantra that motivates you?
My favourite quote is by the late American entrepreneur and author Jim Rohn: “Don’t wish it were easier. Wish you were better.”

This has assisted me in always trying to improve myself to better prepare for the challenges that lie ahead.

Share a leadership lesson or piece of advice that’s been valuable in your career.
My leadership lesson has been that you don’t need to be the most talkative person to lead. You can lead silently by being a great example to the people under your stewardship.

What’s something surprising about you that isn’t in your professional bio?
I am an avid lover of football, but unfortunately, the talent is not there.

If you could have any superpower to help you in your job, what would it be?
It would be integrating AI seamlessly into our environment.

Siyanda’s journey demonstrates the power of perseverance, passion, and a deep commitment to making a difference. From mentoring young professionals to contributing to the financial success of his organisation, Siyanda’s story is an inspiration to many in the field of finance.

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