Qualification/s Requirements
- A Grade 12 is required coupled with a minimum Bachelor’s degree (equivalent to NQF level 7) in any of the following disciplines: Accounting or Economics or Business Management;
- Certification as a Chartered Accountant (SA) will be an added advantage;
- A minimum 5 years’ experience at a senior managerial level (Director) obtained in a financial governance environment;
- Knowledge and experience of financial markets and regulatory frameworks;
- Knowledge and experience of treasury operations, corporate governance and development finance; and
- Successful completion of the Nyukela Public Service Senior Management Leadership Programme as endorsed by the National School of Government available as an online course on https://www.thensg.gov.za/training-course/sms-pre-entry-programme/ , prior to finalisation of an appointment.?
Key Performance Areas
Enforce the PFMA, Treasury Regulation, Protocol on Corporate Governance, King II Code on Corporate Governance:
- Initiate the amendment of PFMA and Treasury Regulations. Monitor compliance to PFMA, Treasury Regulations and Corporate Governance Codes; and
- Manage and review treasuries of SOCs.Advise on appropriate shareholder management model for SOCs.
Monitor financial performance of SOC’s:
- Monitor financial analysis of SOCs i.e. performance indicators, forecasting annual financial statements, industry comparisons, benefits and risks of financial transactions;
- Identify risk management in SOCs through analysis of corporate plans;
- Co-ordinate with macroeconomic policy and public finance;
- Enforce restructuring through compliance to the relevant provisions of PFMA;
- Analyse financial impact of SOCs strategic plans; and
- Monitor financial performance against shareholder compacts and KPIs
Monitor Contingent Liabilities and align Compliance with Corporate Governance:
- Monitor contingent liabilities of SOCs. Act as Secretariat of the Fiscal Liability Committee (FLC);
- Participate in legislative processes pertaining to contingent liabilities and conduct the impact analysis on the fiscus; and
- Set standards for the management of the register of guarantees, letters of comfort, financial commitments and borrowing limits.
Conduct due diligence of the contingent liabilities and guarantees Monitor Financial Performance and Development impact of DFIs:
- Develop a finance policy framework for DFIs;
- Review mandates of individual DFIs; and
- Initiate research and propose an appropriate development finance systems.
Contribute to lowering borrowing requirements through accurate forecasting, gaining understanding of dividend policy and cost of equity:
- Undertake capital structure analysis of individual SOCs;
- Negotiate appropriate dividend payout/ capitalisation of SOCs; and
- Coordinate SOCs borrowing programs.
Exercise financial oversight over SOCs in terms of the decentralized management model:
- Advise Minister of Finance on concurrence to PFMA Section 54 applications; and
- Coordinate financial impact of SOC deliverables with policy departments and shareholder oversight departments.
Monitor and adherence to Treasury management best practice standards:
- Evaluate SOCs adherence to Treasury best practice standards;
- Make recommendations to SOCs on amendment of Treasury policies and practices in alignment with set standards;
- Monitor implementation of recommendations.
Facilitate the Restructuring of SOCs:
- Optimal restructuring of SOCs balance sheets;
- Manage risks pertaining to SOCs; and
- Formulate financial modelling and project management of SOCs.
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