Business Manager (Post Level 5) (Contract Appointment: Five Years, with the Possibility of Reappointment for a Further Term) (Job ID 5968) at University of the Free State

Duties and responsibilities

Business Unit Leadership and Coordination:

• Create strategic frameworks for financial reporting and performance measurement tailored to each research chair, ensuring consistency and accuracy while driving continuous process improvements that enhance operational effectiveness and support informed decision-making. 
• Spearhead and orchestrate all financial initiatives associated with research chairs, promoting institutional collaboration among faculties and strengthening engagement with diverse stakeholders to optimise resource allocation and drive research excellence.
• Empower research chairs to strategically identify and capitalise on third-stream income opportunities, such as grants and industry partnerships, by leveraging expertise in research funding models to enhance financial sustainability and amplify the impact of their initiatives.
• Cultivate a culture of continuous improvement by offering strategic guidance and mentorship to financial support staff within the institution, enhancing their professional development and empowering them to contribute effectively to organisational goals.

Strategic Financial Management:

• Develop and implement financial strategies for the Business Unit, ensuring alignment with institutional goals.
• Provide financial oversight and guidance for all research chairs within the unit, ensuring effective allocation and utilisation of resources, and integrating risk management practices.
• Prepare and monitor the annual budget, including forecasting, cost analysis, and resource allocation to support research activities, while evaluating funding models to optimise third-stream income generation.
• Evaluate financial performance against the budget and recommend adjustments to enhance operational excellence and resource utilisation. 

Financial Reporting and Compliance:

• Develop and implement robust compliance and internal control frameworks that uphold rigorous standards for internal financial policies and external regulations. This strategic approach will mitigate financial risks, enhance operational efficiency, and strengthen the organisation’s financial integrity, fostering trust among stakeholders and ensuring long-term resilience.
• Produce comprehensive and timely financial reports, including quarterly and annual statements, to deliver strategic insights that guide high-level decision-making and support the organisation’s long-term objectives.
• Oversee audits and manage relationships with external auditors, ensuring transparency and accountability in financial practices while safeguarding institutional interests.

Research Support and Development:

• Collaborate with research chairs to assess and align their financial requirements with strategic institutional goals, delivering customised support that enhances the sustainability and impact of their research initiatives.
• Facilitate the development of innovative business models for research initiatives, integrating commercialisation strategies to optimise impact and enhance revenue generation, thereby driving long-term institutional growth and sustainability.
• Evaluate and identify strategic funding opportunities, guiding the preparation of financial components in grant proposals to secure critical resources for research projects, while leveraging expertise in grant management practices.  
• Monitor and assess the financial performance of research activities to ensure alignment with budgetary goals and maximise intended financial outcomes.

Stakeholder Engagement and Communication:

• Act as a strategic liaison among research chairs, faculty leadership, and external funding bodies, facilitating clear and transparent communication to align goals, optimise collaboration, and enhance the institution's funding opportunities and research impact.
• Cultivate and nurture robust relationships with internal and external stakeholders to drive collaboration and support for research initiatives, fostering a culture of engagement that enhances institutional impact and innovation.   
• Deliver insightful financial reports and strategic recommendations to faculty management, research chairs, and key stakeholders, guiding informed decision-making and aligning financial strategies with institutional priorities. 
• Articulate complex financial information clearly and concisely to stakeholders across diverse levels of financial literacy, ensuring understanding and informed engagement in strategic discussions.

Continuous Improvement and Innovation:

• Cultivate a culture of innovation that empowers research chairs to explore new funding models and entrepreneurial ventures, while strategically identifying and forming additional research units to enhance the institution's overall research impact and drive transformative outcomes.
• Proactively identify opportunities for process optimisation and implement best practices in financial management and business operations, driving efficiency and enhancing overall organisational performance.
• Continuously monitor industry trends and regulatory developments to ensure the Business Unit maintains compliance and competitiveness, leveraging insights to drive innovation in funding models and strategic initiatives.
• Lead digital transformation initiatives within the Business Unit by leveraging technology to enhance financial management and reporting processes, driving operational excellence and positioning the organisation for sustained success

Inherent Job Requirements

• A Chartered Accountant (SA).
• A minimum of five (5) years of relevant experience in financial management within the higher education environment.
• Demonstrated experience in research funding models, grant management, and third-stream income generation.
• Demonstrated experience in strategic planning, risk management, and compliance.
• Experience in contract negotiations and reviews to ensure compliance and protect institutional interests.
• Knowledge of intellectual property management and experience in commercialisation strategies to maximise research impact and revenue generation.
• Proven track record in managing complex budgets, financial reporting, and compliance.

Recommendations

• Excellent leadership, communication, and analytical skills, with a strong ability to problem-solve and adapt to changing research priorities.
• Proven ability to drive operational excellence and process improvements within financial and operational environments.
• Understanding and adaptability to navigate changing research priorities, funding landscapes, and regulatory requirements.