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.