Financial Director

Location: East London, South Africa
Salary: R1.2m - 1.6m per year
Recruiter: HR Genie
Job Ref: Financial Director E
Summary: Financial Director



Job Description

A leading financial services client of mine seeks a Financial Director to join their Eastern Cape offices.

Broad overview of role:

The FD is ultimately accountable for accounting practises, overall financial management and budgeting, forecasting and financial reporting within the Group and its subsidiaries. The FD is required to ensure establishment of group-wide objectives, policies, procedures, processes, programmes and practices to assure the Group of a continuously sound financial accounting structure. The FD is responsible for helping ensure that the Group Board fulfils its responsibilities in respect of financial risk management and for determining and implementing the financial and investment strategy of the Group and developing appropriate <--------Please upload your CV here-------- tied to that strategy.  

Key duties:

  • Ultimately accountable for all financial management functions in the Group (save for those specifically within the statutory mandate of the Audit Committee) - i.e. ultimate oversight / strategy
  • Ultimate accountability for making approvals required in terms of Group Limits of Authority Frameworks.
  • Accountable for ensuring that appropriate policies, procedures, processes and practices are established to assure the Board / Group of a continuously sound financial accounting structure (in order to help the Board to fulfil its responsibilities in respect of financial risk management)
  • Responsible / accountable for presenting an accurate, appropriate and detailed Group Consolidated Budget with a focus on strategy and long-term sustainability, to the Group's Exco, Audit and Risk Committee and Board for final approval.
  • Prepare rolling forecasts in line with the business / market strategy.
  • Accountable to the Board and Company in terms of ensuring that relevant statutory, management and regulatory reporting is adequate, transparent and accurate and in line with regulatory requirements such as IFRS the Companies Act and JSE Listing Requirements. Presenting regular, detailed, informative, well-organized and relevant presentations and/or reports for the Chief Executive Officer, Group Executive Committee, Audit and Risk Committee and the Groups Board.
  • Responsible for sign-off of Audited Annual Financial Statements on behalf of Board.
  • Ensure appropriate metrics are in place to measure and evaluate own, departmental, subsidiary and Group performance and ensure accurate reporting thereon. 
  • Ultimately accountable to Audit and Risk Committee and Board for ensuring an effective audit process in order to release results to the market well within the parameters set by regulation. Presentation of audit plan to Audit and Risk Committee and Board.
  • Ultimate oversight to ensure that measured regarding audit findings are appropriately actioned.
  • Actively influence business executives by utilising the financial and operational information at hand with a clear outlook beyond the current financial year as may be appropriate and in line with Group strategy and policy.Guiding the Executives and Board in respect of establishing and approving appropriate financial and investment Group strategy by making appropriate and relevant recommendations, accordingly substantiated. This will include strategy related to Sales / Marketing, Product Development, Corporate Finance* (effective financing and / or allocation of company funds and resources to maximize shareholder wealth) and Corporate Actions** (strategy related to actions such as mergers, acquisitions and so on). This will also require conceptual / big-picture thinking - integrating information from a variety of sources, discerning complex underlying relationships and predicting patterns for future growth.
  • Developing appropriate <--------Please upload your CV here-------- tied to approved strategy.  
  • Continuously creating new ways of finding shareholder value by looking outside of the Group. Actively seeking out revenue opportunities, projecting acquisition and expansion prospects, identifying opportunities for improvement, cost reduction, and systems enhancement.
  • Perform ongoing ad-hoc projects as may be required and appropriate, including due diligences (e.g. analysis of target financial statements), cost benefit analyses and financial modelling. 
  • Improve business decisions by providing accurate and reliable business intelligence (information) together with analysing trends and data (within the FDs ambit of responsibility.
  • Key risk owner of Group-wide financial risk; therefor a member of the Group's Risk and Control Committee and ultimately responsible for ensuring effective identification and mitigation of Group-wide financial risk.
  • Ensure that an appropriate and effective procurement policy is in place and that it is effectively implemented and monitored.
  • Ultimately accountable and thus provide oversight of role of CFO/Group Head: Finance and his/her day to day operational responsibility and ensure appropriate governance mechanisms are in place. Will be required, time allowing, to assist the CFO/Group Head: Finance with operational duties and functions in order to ensure an appropriate sharing of capacity and to ensure "cross-pollination" of knowledge and information.
  • Ensuring that funding requirements and covenants are complied with.
  • Effectively guiding and leading the Board in respect of Group financial management as well as effectively leading, managing and setting an excellent example to the CFO/Group Head: Finance, his/her finance team and all Group


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