Executive Head: Financial Reporting: Group Office: CPT

2 weeks ago

Cape Town, Western Cape, South Africa Sanlam Full time

Who We Are?

Sanlam began as a life insurance company in South Africa and has evolved into a diverse financial services group operating across Africa, India, Malaysia, and selected developed markets.

In 2018, the group marked its centenary and 20 years post-demutualisation and listing in Africa. Sanlam stands out as one of the largest global insurance groups, present in 43 countries, with a significant non-banking financial services presence in Africa.

The group comprises five key clusters: Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, and Santam. The Group Office steers these clusters, helping them achieve their objectives through strategic support and direction, overseeing crucial functions like Finance, Actuarial and Risk Management, Strategy, Human Resources, and Market Development.

Begin a Successful Career With Us

We prioritize fostering enduring bonds with our employees, understanding their aspirations for career growth and personal development. At Sanlam, we empower our staff to recognize their value and offer ample opportunities for progress across our diverse business clusters.

What You'll Be Doing

The role of an executive head of financial reporting is pivotal in maintaining the accuracy, integrity, and compliance of financial statements. This position requires overseeing financial planning, internal controls, and ensuring adherence to accounting standards and regulatory obligations.

What Sets You Up for Success in This Role?

Here's a Detailed Breakdown of Your Role, Responsibilities, and Accountability:

Role:
1. Strategic Leadership:

  • The executive head provides strategic guidance in financial reporting, aligning it with the organization's overall vision.

2. Policy Development:

  • Establishes and upholds accounting policies fostering financial integrity and regulatory compliance.

3. Stakeholder Communication:

  • Serves as a vital link between the organization and external parties like investors, analysts, and regulators.

Responsibilities:

1. Financial Statement Preparation:

  • Oversee the preparation of precise financial statements in compliance with accounting standards.
  • Manage quarterly and annual reporting processes, ensuring regulatory compliance.

2. Compliance and Regulation:

  • Ensure adherence to financial regulations and swiftly adapt to any changes.

3. Internal Controls:

  • Develop and maintain internal control systems to safeguard financial information integrity.
  • Regularly update controls to address evolving risks and regulatory updates.

4. Financial Analysis and Reporting:

  • Analyze financial data to offer insights into business performance.
  • Present financial results to the board and senior management.

5. Audit Coordination:

  • Collaborate with auditors for efficient audits and implement recommendations for enhancement.

6. Risk Management:

  • Identify financial risks and devise mitigation strategies.
  • Ensure financial stability through prudent planning.

7. Team Leadership and Development:

  • Guide and mentor the financial reporting team to uphold accuracy and development.
  • Promote a culture of accountability and improvement.

8. Stakeholder Communication:

  • Act as a liaison with external stakeholders, ensuring transparent and accurate financial communications.

Accountability:

1. Accuracy and Integrity:

  • Ensure the integrity of financial statements, free from misstatements.

2. Regulatory Compliance:

  • Accountable for regulatory compliance in all financial reporting.

3. Ethical Standards:

  • Uphold the highest ethical standards in financial dealings.

4. Performance Metrics:

  • Accountable for financial reporting KPIs and related outcomes.

5. Stakeholder Trust:

  • Maintain stakeholder trust through accurate financial information.
  • Address concerns promptly and transparently.

In essence, the executive head of financial reporting ensures the financial health and compliance of the organization, from strategic planning to meticulous financial analysis.

Qualifications and Experience

  • CA(SA) qualification.
  • Preference for CPA or CFA designation.
  • Actuarial experience and advanced degrees are advantageous.
  • Minimum 10-15 years progressive experience in finance or accounting.

Knowledge and Skills

Technical Skills:

  • Proficiency in GAAP, IFRS, and financial reporting software.

Analytical Skills:

  • Strong problem-solving capabilities and data interpretation.

Leadership Skills:

  • Demonstrated leadership and excellent communication skills.

Regulatory Knowledge:

  • Expertise in financial regulations like SOX compliance.

Behavioral Competencies

  • Strong ethics and detail-oriented nature.
  • Ability to work under pressure and strategic thinking.
  • Effective stakeholder management and business insight.

Core Competencies

  • Cultivates innovation, customer focus, drives results, collaborates, and is resilient.

Additional Information

  • This role reports to the CFO and interacts with Group Exco and Audit Committee.
  • Some travel may be required for engagements with stakeholders.
  • Close collaboration with other departments for holistic financial governance.

Turnaround Time

  • Shortlisting starts after the application due date with varying completion times.

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