Chief Financial Officer at Transnet

Position Purpose

• Provide strategic guidance and leadership to enable sound financial management, effective investment decisions, regulatory compliance and reporting and governance.
• Influence strategy and business decisions and provide real-time insights to ensure that business objectives are achieved.
• Implement and maintain financial control processes to identify and mitigate key business risks, execute fiduciary duties, and safeguard financial assets.
• Conduct investment analysis when required and establish strategic alignment to the business strategy in defining economic impact on current business operations, Return on Investments and Economic Value Add.
• Manage economic regulation aspects including tariff applications and pricing strategies.

Position Outputs

MANAGE FINANCIAL ACCOUNTING

• Provide a set of financials, on a monthly, quarterly, interim and full year basis, that complies with IFRS and Companies Act, Income Tax Act and Vat Act which is subject to external audit and review.
• Compile the relevant reports to indicate to Executive Management the financial position of the organisation.
• Implement the necessary actions to ensure the financial sustainability and growth of the organisation.
• Preparation of Annual Financial Statements to be used by the Ports Regulator of South Africa.
• Manage Annual External Audit reviews of the Financial and non-Financial information to the Auditor General’s requirements.
• Ensure compliance with the accounting standards and applicable legislation to protect the Company from financial and reputational risk.
• Deliver high quality accurate output timeously thus creating capacity to enable enhanced decision making.
• Responsible for implementation of effective tax strategies and tax planning.

INTERNAL CONTROL ENVIRONMENT AND PFMA

• Ensure sound financial management of TNPA by implementing appropriate financial systems, processes, reporting and internal financial controls in alignment with Group Finance policies and guidelines with periodic reviews.
• Oversight of PFMA compliance and process adherence including identified improvement initiatives.
• Drive the optimisation of processes that result in improved controls and compliance thereby ensuring unqualified audits, through an effective, ethical and efficient governance & control environment.
• Ensure compliance to control systems implemented to ensure sound financial and audit practice.
• Develop an integrated assurance plan for key finance processes and risks.
• Manage assurance activities in respect of financial controls with internal & external providers.
• Ensure compliance to corporate governance in respect of financial management.
• Develop and implement risk mitigation actions and initiatives and monitor operations to ensure risks are eradicated or minimised.
• Monitor compliance with statutory and regulatory requirements.
• Implementation of the Fraud Risk Management plan in order to detect and prevent the occurrence of fraudulent related activities and upkeep high standards of ethical practices within TNPA.

MANAGEMENT ACCOUNTING AND FINANCIAL PLANNING

• Financial sustainability through appropriate Operating expenditure and Capital expenditure planning in relation to regulated revenue and forecasted volumes that delivers on TNPA and Transnet’s Strategy.
• Budgeting & forecasting on a rolling basis with dynamic scenario planning
• To provide enterprise wide strategic financial insight, analytics and intelligent risk taking to steward growth.
• Custodian of financial performance to ensure the financial sustainability of TNPA and long-term shareholder value creation.
• Report to EXCO monthly on financial performance of the organisation.
• Financial investment, risk analysis and investment management.
• Financial advisory and solutions aided by appropriate financial modelling for investment decisions/ concession transactions

ECONOMIC REGULATION

• Stakeholder relationship with Ports Regulator and other Regulators on matters of economic regulation.
• Preparation and engagement with Ports Regulator on annual tariff applications.
• Implement marketing pricing strategies to support its objectives to strike a healthy balance between target profitability and market price penetration and sensitivities.
• Monitoring and oversight role (financial) with respect to regulated activities, identifying risks and implementing actions to mitigate identified risks.

INSURANCE

• Analyse and interpret the Group’s strategy and develop TNPA’s Insurance strategy for Port Facilities, Marine craft and Aviation craft and all assets.
• Implementation of the TNPA Insurance Strategy.
• Manages the annual insurance renewal process.
• Active liability management of all insurance claims on behalf of TNPA or against TNPA and management.

MANAGE HUMAN RESOURCES

• Lead, coach, mentor and develop Finance Team to deliver high levels of performance whilst expanding the skills base.

STRATEGIC LEADERSHIP & RELATIONSHIPS

• Provide support in terms of lease/ concession negotiations, contract negotiations, settlements and affordability.
• Ensure sound stakeholder relationship management with key relevant role players in accordance with business requirements and dependencies.

Qualifications and Experience

• Chartered Accountant, South Africa – CA (SA)
• Minimum of 12 years’ experience in financial management including capital planning and funding in a large organisation of which 8 years is at a Senior Management level ensuring integration with the organisations’ strategic objectives;
• Economic Regulation experience will be an added advantage;
• Requirement of trust and honesty in the handling of finances as per the National Credit Act Amendment 19;
• Proven track record of ethical conduct and integrity; and
• Meet minimum requirements to hold Directorship as per Companies Act.

STANDARD JOB REQUIREMENTS

• Driver’s License code 8
• Travel as required by the business