SUMMARY:
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POSITION INFO:
POSITION TITLE:· Financial Director
DEPARTMENT: Finance·
ACCOUNTABLE TO: Managing Director
EMPLOYMENT EQUITY:· Recruitment done in accordance with EE targets ·
INDUSTRY:· Financial Services
POSITION TYPE:· Permanent· SALARY:· Market-Related
The purpose of this role is to lead business & its development through collaboration with the Executive Team, Board of Directors, & finance team. To direct, add value & enable business decisions through strong leadership capabilities, exceptional strategic thinking, & attention to detail. The role requires an understanding of South African financial & compliance regulations.
The role will report to the Managing Director of the division & have three direct reports.
Main activities will include:
· Overall responsibility & oversight of the division’s financial department & results.
· Responsibility for all financial matters, including management & financial reporting; budget development, planning & analysis, billing, debtors, creditors & fund accounting.
· The management of operational matters, including directing of staff & monthly payroll.
· Leading financial processes while ensuring cost containment & financial discipline, effective management of internal & external audit.
Strategic Financial Leadership:
· Lead the development & implementation of the division's financial strategy in alignment with business objectives.
· Advise the executive team & board on financial planning, forecasting, & risk management.
· Champion projects that have broad implications across the organisation by aligning & influencing all key stakeholders.
· Provide key insights to support business growth, acquisitions, & other strategic initiatives.
· Participation in board, executive & insurance fund committees.
Financial Management & Reporting:
· Oversee accounting standards selected & implemented by the organisation.
· Oversee the preparation of accurate & timely financial statements & other financial reporting in compliance with IFRS (International Financial Reporting Standards) & relevant South African regulations.
· Ensure the integrity of the division's financial reporting, including monthly, quarterly, & annual financial statements & other financial reports.
· Identify & implement best practice management; provide strategic insight on the content of reports.
· Select & drive the development of appropriate financial & operational indicators.
Analysis, forecasting & budgeting:
· Lead budgeting & forecasting processes & ensure financial plans are aligned with business objectives.
· Set standards for business analysis to support strategic direction & comparison; develop & implement finance solutions to complex & high-value commercial decisions including risk & business delivery.
Financial Process, Control, Compliance & Risk Management:
· Analysis of insurance product performance & interact with actuaries.
· Ensure compliance with local tax laws, financial regulations, & governance standards in South Africa.
· Manage internal controls & implement best practices to mitigate financial risks.
· Identify & manage financial risks & ensure the development of appropriate risk management frameworks.
· Oversee the auditing process & liaise with external auditors, tax department, & other regulatory bodies.
· Set demanding & realistic targets for process improvement & ensure changes to existing processes are carried out in a systematic & logical way.
Team Leadership & Development:
· Lead, mentor, & develop the finance team, fostering a high-performance culture.
· Ensure proper staff training, performance evaluations, & succession planning within the finance department.
· Critical thinking & inquisitive nature.· An entrepreneurial spirit.· Strong analytical ability to interpret financial information, attention to detail.· Ability to multi-task, cope under pressure, & succeed in a high-performance culture.· Strong operational finance & people management experience.· Strong focus on ensuring internal controls are in place to mitigate risk & ensure the safeguarding of business assets.· Experience with business & financial systems.· Strong ability to adapt to change.· Strong verbal & written communication.· Strong MS Office skills.· Good current-day knowledge of IFRS.· Experience in a leadership role in a similar environment.· Experience in the motor or insurance industry will be advantageous.· CA (SA) & 10 years post articles; preferably worked across industries including financial services· Experience in Financial Risk Management in insurance sector.· Experience with governance, policies, & financial controls.· Clear criminal and credit records.· Own and live up to the Company values.· Attend training initiatives to improve work quality and enhance own skills.
