Chief Financial Officer

An industry leader in the cosmetic manufacturing industry which is based in the Gauteng Province is recruiting an experienced and skilled Chief Financial Officer.

The CFO provides strategic financial leadership, safeguards the organisation's assets and ensures the integrity of financial reporting and internal controls.

Experience

The successful incumbent must possess at least seven (7) years’ experience within a financial constituency and pertaining to an executive managerial level.

Formal qualifications

• A degree in Finance/Management Accounting
• A relevant post graduate degree in Finance/Management Accounting
• Master of Business Administration (MBA) or similar post-graduate qualification will be advantageous
• Registered with the South African Institute for Chartered Accountants (SAICA)

Responsibilities

• Ensure development and monitoring of financial policies and procedures within generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced operating costs and income generation.
• Working with team on innovative ways to increase profitability
• Managing ways in which capital is raised
• Overseeing and supporting short and long-term strategic planning
• Directing the company's financial advisors
• Assisting in numerous financial tasks and projects
• Formulate and regularly review management procedures and policies
• Establish an internal audit, risk management function and monitor assessments to ensure compliance with formal systems
• Configure and manage the electronic financial systems to ensure security and optimal utilisation
• Establish and implement a corporate governance system within the organisation
• Oversee the maintenance of the inventory of all fixed assets, including assets purchased, and ensure that all are in accordance with International and South African legislation.
• Responsible for developing and monitoring a system of internal controls to adequately safeguard financial resources.
• Manage the preparation of the annual budget.
• Develop and implement the organisation's financial goals and objectives.
• Oversee the investment of funds and manage associated risks.
• Understand and mitigate key elements of the company's risk profile.
• Maintain appropriate insurance cover.
• Approve monthly bank reconciliations.
• Manage the preparation of monthly management accounts and other informational reports and analyses.
• Review financial results and highlight future needs and trends.
• Ensure underlying accounting records are accurate, complete and in line with legislative provisions.
• Review monthly operating reports for accuracy, completeness and major variances between actual and budget results.
• Prepare quarterly and annual fair value reports.
• Prepare summaries and forecasts for future business growth and the general economic outlook.
• Provide the CEO and Board of Directors with accurate and timely communication of financial issues.

Inherent requirements and skills applicable to this vacancy

• Excellent management skills - experience in managing teams and also in relation to high-level stakeholder management
• Solid experience and understanding of financial control frameworks and methodologies
• Solid experience in the IFRS reporting Framework
• Knowledge of SA legislation, and Income Tax Act;
• Knowledge of Companies Act
• Proven experience in People management
• Demonstrable experience in managing a strategic relationship management
• Experience leading lender negotiations, managing debt covenants, and engaging with development finance institutions and commercial lenders.
• Regulatory reporting experience
• Working knowledge of supply chain management governance, including the PPPFA framework.
• Proven fundraising skills and experience
• High level of business insight and commercial acumen
• Good knowledge of all corporate and institutional banking products
• Experience in conducting presentations to diverse groups of internal and external stakeholders
• Policy formulation and review
• Analytical, organisational and report writing skills
• Strong financial budgeting, planning, and execution skills
• Re-engineering, project, and process change skills would be desirable
• Strong interpersonal and communication skills
• Ability to lead the overall Finance and any other teams assigned
• Excellent teamwork and project management skills
• Ability to think strategically, operate, and communicate at all levels
• Integrity and confidentiality in handling information
• Independence of judgement; willingness to raise matters with the CEO, ARC and Board where appropriate;
• Ability to maintain professional skepticism in the conduct of the role.
• Experience in audit firm appointment and rotation processes, including RFP design, IRBA registration verification, and independence assessment of audit firms.
• Appointment subject to fit-and-proper assessment; annual declaration of personal financial interests under Companies Act s.75; obligation to disclose any interests in a counterparty or supplier of the company
• Identifying and understanding challenges, problems and opportunities by finding solutions
• Attention to detail
• Extensive knowledge in financial management regulatory and legislative framework
• Extensive knowledge of management accounting principles, methodologies and procedures
• High proficiency in computer programs (Excel, Word, Dear Inventory, Xero accounting)
• Code B licence
• Own vehicle

Shortlisted candidates will be expected to undergo psychometric testing and background screening