Are you an experienced financial executive with a passion for leading-edge strategies and driving financial performance? A premier Financial Services firm is seeking a dynamic Chief Financial Officer to join their executive team. Provide strategic leadership on financial matters and oversee financial activities within the company, by providing professional and ethical financial practices and delivering an effective finance service offering that is aligned with business and Group Finance strategy; ensuring the sustained profitability of the business.
Duties and Responsibilities:
- Lead and direct the finance function within the company in support of business objectives.
- Keep abreast of trends, legislation and best practices within the financial management field in order to optimize service offering and delivery.
- Collaborate with senior management to formulate short and long-term strategic financial objectives and operating strategies for the business, in line with the overall business strategy of the company, as well as the overall financial strategy of the Group.
- Oversee the design of effective and efficient futuristic financial modeling in support of the business strategy and new business ventures.
- Support the development of new business initiatives by studying economic trends and revenue opportunities, unpacking the financial implications and making recommendations regarding the financial viability of new business.
- Evaluate and advise on the financial impact and requirements of long range planning, introduction of new products/business and regulatory environment to support the realization of the business strategy.
- Provide executive management within the company, with advice on the financial implications of business activities, and provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations.
- Provide recommendations to strategically enhance financial performance and business opportunities.
- Contribute to the design and development of Group Finance strategies, policies and practices and oversee the implementation of finance strategies, policies and practices within the segment.
- Direct and oversee all aspects of the finance functions (accounting, tax, capital management etc.) of the company, ensuring healthy financial management within the segment.
- Establish and comply with finance governance principles and structures within the segments in line with finance best practice (GAAP, IFRS etc.).
- Manage and minimize the company’s financial risk exposure by developing and maintaining systems of internal controls, liaising with Risk Management functions as appropriate.
- Support the planning and management of internal audit activities in collaboration with the risk team.
- Provide direction for continuous improvement efforts by managing the identification of opportunities, cost reduction, improvement and systems enhancement.
- Understand the profitability and growth drivers for the business and ensure that the key insights are well understood by the management team.
- Ensure that sound financial controls and practices are in place within the segment and in the respective products and solutions centre of excellence to ensure the segment deliver on its stated financial objectives.
Drive a client centric environment that focuses on best practice service delivery (Client Services):
- Build and maintain relationships with clients and stakeholders.
- Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.
- Define fair and innovative client service practices which build rewarding relationships, and allows team to provide exceptional client service.
- Engage with key internal and external stakeholders to identify changing client needs and make recommendations to align service offering with client needs.
- Contribute to a client service excellence culture which builds enduring relationships and allows team to provide exceptional client service.
- Develop client service level agreements and standards in order to ensure clients receive clear and accurate information and are kept informed at all times.
- Drive efforts to improve client service and fair treatment of clients within area of responsibility.
- Incorporate client feedback into the enhancement of daily business processes and management operating systems.
- Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
Effectively lead team (People):
- Create a positive work climate and culture to energize employees, give meaning to work, minimize work disruption and maximize employee productivity.
- Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organizational values.
- Select and recruit suitably qualified talent in line with Employment Equity principles and the company’s values.
- Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
- Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.
- Execute effective workforce planning practices to ensure that staffing requirements are accurately forecast.
- Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.
- Effectively manage performance within the team in order to ensure business objectives are achieved.
- Encourage innovation, change agility and collaboration within the team.
Oversee the budgeting and financial reporting process and implement sound financial controls (Finance):
- Coordinate the process for the development, implementation and monitoring of fit for purpose budgets to ensure the segment operating model is adequately budgeted for.
- Control the budget for areas of responsibility, including the authorization of expenditures and implementation of financial regulations.
- Influence the allocation and management of shared costs in line with the company’s operating model.
- Oversee the monitoring of financial performance by measuring and analyzing business results, initiating corrective actions and minimizing the impact of variances.
- Oversee the production and delivery of accurate financial metrics, statements and reports for the segment (Income Statement, Profit and Loss Statement etc.) within agreed timelines.
- Ensure the integrity of data and systems to enable accurate financial reporting.
- Present a complete analysis of financial results including strategic and tactical insights and recommendations to executive committees and boards.
- Manage the timeous and accurate submission of statutory reports to the relevant authorities and governing bodies.
- Engage with the Financial Services Board (FSB) to resolve any financial queries regarding statutory reports.
- Act as a spokesperson for the segment on matters relating to financial management and analysis.
- Implement and manage financial risk methodologies, techniques and systems and use them to monitor and report on financial activities.
- Implement risk management, governance and compliance policies in their own practice area, to identify and manage governance and risk exposure liability.
- Investigate reported willful acts of non-compliance to organization policy and practice and report on findings.
Competencies:
- Business Acumen
- Collaboration
- Client/ Stakeholder Commitment
- Impact and Influence
- Drive for Results
- Self-Awareness and Insight
- Leads Change and Innovation
- Diversity and Inclusiveness
- Motivating and Inspiring Team
- Growing Talent
- Strategic Thinking
Requirements:
- Post graduate degree in BCom Accounting, Financial Management or Management Accounting.
- Registered chartered accountant with South African Institute of Chartered Accountants.
- 10 years post qualification experience in financial management in an insurance and financial services environment.
- 3-5 years in a senior management position.
- Knowledge of the financial services, health, insurance and investment industry and applicable regulatory requirements and legislations.
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