Lead, direct and assume accountability for the development and execution of Financial Management strategies, policies, procedures and work practices aligned to Generally Accepted Accounting Principles (GAAP) and advise EXCO and the Board on enterprise wide Financial Management, tax analysis, investments, mergers and acquisitions, hedging and insurance matters to ensure that the financial implications of business decisions are meticulously considered and their impact correctly recorded and reflected for both financial management and statutory purposes and aligned to PFMA (Public Finance Management Act) and, the Companies Act and the relevant legislation and governance frameworks to enable company to achieve its strategic objectives.
Experience & Qualifications Required:
Chartered Accountant (SA) or Equivalent;
An accredited MBA/MBL;
10 – 15 years’ senior financial experience in a corporate environment, specifically interfacing between the GCEO and Board;
Experience in the Energy industry will be an added advantage.
Key Performance Areas:
Internal Business Processes:
Shape, assume accountability and lead the execution of the company’s consolidated financial budget and directs the process to ensure high integrity enterprise consolidated monthly financial results and year end forecasts to the executive and develop and implement the Division’s overall strategy and setting of business targets in order to realize stakeholder value and ensure the company’s sustainability and growth aligned to company policies, processes and systems.
Lead, assume accountability and direct mergers and acquisitions to ensure an integrated approach is followed and risks are managed to ensure both a successful M&A initiative and increased shareholder value.
Lead, direct and assume accountability for the insurance portfolio to ensure that Enterprise assets are covered at replacement cost and loss of profits are covered at actual losses.
Lead, direct and assume accountability for hedging strategies to ensure price risk exposures are mitigated in compliance with Finance expectations through policy and legislation.
Lead, assume accountability and direct the development and evaluation of the insurance strategy to address conducting of physical asset valuations; national and international insurance market trends evaluation; facilitation of BI computation and insurer engineering visits; and risk identification and mitigation, to ensure that assets are insured correctly and for the correct values
Lead, assume accountability and direct the development and execution of the enterprise wide finance strategies, provide the consolidated financial consequences of the enterprise strategy and facilitate the preparation and implementation of a financial reporting functional strategy aligned to GAAP and corporate guidelines to ensure sufficient cash flow, reduced operating costs and increased revenue.
Lead, assume accountability and direct the business planning process, assess business model impacts and plan appropriate strategies to ensure the operations and capital plan are developed and aligned to financial and business strategies.
Lead, assume accountability and direct the accurate development of the organisation’s half year and annual statutory consolidated financial statements to ensure that stakeholders are able to accurately gauge the financial status and performance of the company.
Lead, direct, assume accountability and monitor the procurement of transactional goods and services according to procurement regulations and best practice to ensure an efficient supply chain process, with minimum risk in compliance with the company’s procurement policies and procedures and governance.
Lead, assume accountability, direct and monitor the financial business risk management process and facilitate the development of strategies to ensure both national as well as global financial risks are mitigated.
Lead and drive HSE and ISO compliance by ensuring that systems and processes are in place for no contaminations and suppliers are audited for compliance to ensure quality of product and all compliance requirements met in the achievement of strategic objectives.
Promote the building of a new corporate identity, grounded on the integration of diverse cultures and achievement of BBBEE, EE and CSDP targets to ensure the company’s transformation.
Lead, assume accountability, evaluate and approve the annual operating and capital budget for the Division and Enterprise to ensure expenditure is within approved budgets and the achievement of bottom line results through driving a culture of economic efficiency through the implementation of productivity / quality metrics and incentive programs designed to minimize costs, enhance efficiency, improve profitability and ensure growth and sustainability.
Build relationships and confer with other executives and professional staff to resolve operating problems and difficulties and authorise operational actions, procedures and policies within the corporate framework to develop and implement an aligned and integrated Strategy which supports the achievement of the business objectives and achieves the Divisional SLA with the business.
Lead and execute the building of strategic relationships with government, parliament, business, local communities and international markets to promote and market the organisation for funding, selling of products and acquiring assets and raw materials to ensure objectives are achieved.
Learning & Growth:
Provide advice, guidance, direction and mentorship to HOD’s/managers in terms of their performance, development and growth plans to ensure good performance delivery, retention, leadership pipeline, succession plans and lead and evaluate divisional staff performance management, succession plans, retention, development of all staff and the implementation of a learning culture to ensure a productive and competent work force.
Manage the development and implementation of a personal learning and growth plan, which includes submitting a research paper or conducting a presentation to ensure ongoing learning and development.
Internal Business Processes:
Key financial risks to be managed; Non- compliance to financial regulations; Keeping abreast of national and global changes and trends;
Conforming to GAAP; Compliance to strict legislation governing procurement and continuous changes.
Levels of authority delaying progress; increasing risk of security of supply; Continuous threat of litigation; Risk of potential corruption; Limited retention of talented staff; Compliance to strict legislation governing procurement and continuous changes; Limited no. of BEE suppliers in the market.
Potential interference with procurement processes followed at all times; Insufficient and appropriate resources to meet objectives; Executive decisions made without following due process or consideration.
Controlling spending and improving profitability; Compliance to strict legislation governing procurement and continuous changes; Levels of authority delaying progress; Continuous threat of litigation; Risk of potential corruption; Lack of focus and prioritisation on projects.
Dealing with a range of different and challenging customers; Prioritisation of customer requests; Unrealistic delivery expectations; Stakeholder engagement.
Recommendations into the corporate strategy and business plans; Approval of the annual operating and capital budget for the Division and Enterprise.
Divisional strategy and business plans; Divisional operational budget; Recommendations into enterprise Insurance cover; Recommendations into merger and acquisition initiatives;
Approval of hedging strategies; Approval of divisional policies, procedures and work practices and standards; Prioritisation of projects; Supplier selection; Staff selection and management; SLA approvals; Contract negotiations and contract terms and conditions.
Knowledge & Competencies:
BBBEE Codes; Labour Relations Act; Employment Equity Act; Basic Conditions of Employment Act;
South African Legislation relating to SHEQ (e.g. Mine Health and Safety Act and Occupational Health and Safety Act etc.); Relevant policies, procedures and practices; Tax legislation; Procurement methodology; Information technology framework; International Financial Report Standards (IFTS)
Generally Accepted Accounting Principles (GAAP); Companies Act; Public Finance Management Act (PMFA); Preferential Procurement Framework; King III Report; Petrochemical industry; Minerals and Petroleum Resources Development Acts.
Company’s policies, procedures and practices; Trends, best practices, and policies affecting the industry and business; Oil and Gas industry;
Organisational Core Competencies:
Stewardship; Honesty; Integrity; Respect and Transparency
Managerial / Leadership Competencies:
Gaining commitment; Strategic thinking; Strategic decision making; People management; Mentorship
Leading through vision & values; Building strategic working relationships; Building strategic networks;
Building a strategic team; Planning and organising; Coaching; Budgeting; Influencing;
Functional / Technical Competencies:
Government relations management; Risk and issues management; Financial Operations;
Financial Analysis; Financial Planning; Mergers and acquisitions; Insurance; Hedging strategies;
Financial systems; Capital structures and management; Accounting; Direct and Indirect Tax;
South African reserve bank regulations; Public finance Management Act (PFMA); Contract management; Contract Negotiation; Business Acumen; Conflict management; Stakeholder management; Written communication; Verbal communication;
Diplomatic relationship management; Public speaking; Press management; Formal presentation;
Report writing; Cost management; Facilitation; Computer literacy; Excel;
Analytical ability; Problem solving; Adaptability; Interpersonal; Confidentiality; Stress tolerance; Drive; Innovation; Resilience; Even tempered; Assertiveness; Decisiveness; Diplomacy; Initiating action; Pragmatic;