Group Chief Financial Officer

Job Description:

The client has a proud history of growth with a prevailing entrepreneurial culture tempered with a corporate and professional approach. The group works across the fishing, energy, petroleum and gaming industries and is considered agile but structured in terms of deal-making. The company is proudly African and transformative in all respects and embraces change, both culturally and technologically. We are performance-driven but also sensitive to people development and social needs. We value meritocracy as well as ethical, moral and principled leadership as seen in a zero-tolerance approach to corruption, bribery and any form of unethical conduct.

The Chief Financial Officer will be responsible for all financial reporting and risk related aspects of the organisation. The Chief Financial Officer is member of the Group Executive Management Team and reports to the Group CEO. The responsibilities of the CFO include to lead and direct the financial strategy, and support the commercial strategy, of the organisation through oversight of financial management, management accounting, capital raising and management, mergers & acquisitions, tax management, asset management and supply chain management functions across the Group, thereby minimising financial risks and managing the sustainability of the organisation.

Education:

• Post-graduate / Honours Degree in Finance or Accounting (NQF Level 8)
• CA(SA)
• Post-graduate qualification in Commerce or Business Management.
• Leadership qualification e.g. MBA or Executive Development Programme
• Minimum CA(SA), Member of recognised professional Institute Nationally, Regionally or Internationally

Experience (Minimum Experience Required )

• + 12yrs Post article experience in financial management, Relevant work experience with leading edge multi-sector industrial organisations and operating at senior executive levels.
• + 8yrs Similar position within similar size group or organisation within the South African or Regional environment
• + 5yrs Industrial sector and investment experience

Minimum Training and Knowledge:

• Experience in a similar position within a multi-industry environment. Knowledge of experience in an investment environment.
• Knowledge and understanding of the fishing, gaming or energy industries would be ideal.
• Experience within an investment-focused environment.
• Experience in mergers and acquisitions would be advantageous.

Business And Finance Strategy and Planning:

• Initiate and drive the development of the Business Strategy and support the Group CEO in driving the execution of the strategy across the Group. Serve as a member of the Group Executive Committee.
• Develop the annual and 3-year Group Finance Strategy aligned to the Business Strategy. Guide and approve annual Finance operational plans, ensuring alignment to the Group Finance Strategy and Business Strategy. Lead the development and monitor implementation of the Group Determine an appropriate Finance structure, allocate tasks and monitor the development of Financial competence to deliver financial strategic objectives.
• Provide expert financial advice and analysis to support decision making to the Executive Committee, the Group CEO and the Board. Produce monthly and quarterly reports on the performance of the division. Finance policies, procedures and business processes, in accordance with accounting prescripts and regulatory requirements.
• Manage strategic, financial and operational risks for the Group through the identification, development and implementation of risk mitigation plans.
• Keep abreast of changes to legislation and regulations to improve the effectiveness and efficiency of the Group Finance function.
• Develop merger and acquisition strategies and manage implementation therein to increase the value of the company and improve competitive positioning. Assist in the raising of capital in accordance with company requirements.

Budget And Financial Planning:

• Drive the budget setting process, for both the annual and 3-year budget, by developing the appropriate guidelines for the Group. Review the divisional budgets at appropriate intervals and report to the Board and Exco on major financial concerns. Implement and oversee financial remedial plans and measures as required.
• Oversee the cash flow, working capital management, and debt covenant to that all financial obligations are met. Provide advice on effective measures to manage costs for the business.
• Monitor the execution of proper reporting on budget and cash flow matters.
• Engage with the Board and Executive Chairman on a regular basis to provide feedback regarding the performance of the organisation and to provide input as required to ensure all governance, risk and fiduciary duties and obligations are met.

People Development and Management:

• Manage the recruitment of direct subordinates in accordance with company policy and procedure. Provide guidance, coaching, mentoring and advice to subordinates.
• Develop performance contracts for subordinates and conduct performance reviews to measure performance against agreed objectives, identifying training needs.
• Set the targets for diversity and inclusion within the Finance team
• Lead the development of the division’s Succession Plan, staff retention strategy and identify a pool of potential leaders.

Financial Management:

• Oversee the preparation of annual financial statements (and external audits) to agreed deadlines and in accordance with legislation and accepted accounting procedures. Review and approve annual financial statements.
• Oversee the maintenance of appropriate financial records, financial and statutory reports, ensuring compliance with financial regulations and standards.
• Present annual and interim financial reports to Exco and the Board and respective forums, effectively conveying the financial status of the Group.
• Lead the annual external audit process. Guide the Finance Committee and Audit & Risk Committee, contributing financial expertise to decisions taken in order to minimise risk.

Financial And Treasury Management:

• Provide a centre of excellence for the Group in the provision of financial services, advice and support. Present financial performance of the Group in business reviews. Review and approve monthly and quarterly expenditure reports for the Group as per delegation of authority.
• Oversee the administration of payroll. Validate, review and approval payroll as per delegation of authority. Oversee income tax, PAYE, VAT and the provision and filing of relevant returns.
• Monitor tax planning and structuring to manage tax exposures. Oversee the administration of creditors and debtors. Oversee the preparation for internal audits.
• Optimise liquidity and working capital through treasury and cash management.
• Monitor adherence to the procurement processes across the Group. Monitor the development, implementation and management of Service Level Agreements and contracts with contractors and service providers.

Competencies and Skills:

• Sound knowledge of financial legislation, Treasury regulations and other regulatory frameworks.
• Sound knowledge of financial reporting standards
• Sound knowledge of financial accounting, budgeting, taxation and audit as well as financial systems, policy and procedures.
• Sound knowledge of risk management principles.
• Well-developed relationship building skills.
• Strong conflict management and negotiation skills.
• Excellent communication skills – ability to understand business needs and communicate complex systems simply.
• Sound knowledge of asset management and supply chain management processes and procedures
• Sound knowledge of capital-raising, debt management and mergers & acquisitions.
• Professional business acumen and ability to analyse complex data and formulate meaningful insights.