Divisional CFO (Parktown) at Rand Mutual - RMA

Description

• The Executive Finance RMA will be responsible for overseeing the financial reporting and operational finance aspects of the RMA Business , this will involve oversight of the internal and external reporting processes and undertaking business insights analysis that is required for IAH.
• The incumbent will also be responsible for delivering on finance change initiatives and a best-in-class Finance division that will provide timely and intelligent insights and transactional support to help make RMA a Business of Significance.

WHAT WILL YOU DO?

Financial Reporting

• Manage the reporting department to ensure sound financial control, adherence to policies, secure and accurate financial reporting
• Provide financial reports and interpreting financial information to managerial staff while recommending further courses of action
• Provide risk management with inputs for qualitative regulatory returns; Continuous process improvement
• Address queries regarding IFRS accounting treatment
• Review Internal Processes and ensure adequate system of Internal Control
• Review the Group annual financial statements ensuring compliance with latest standards

Success Measure

• AFS
• Monthly management accounts
• Clean control environment

Financial Analysis

• Compile key business metrics and report on them to management
• Maintain the overall financial health of the organisation by monitoring and evaluating the profitability
• Review the performance of competitors and report on key financial benchmarking analyses
• Interpret the company's financial results to management and recommend improvement activities
• Create additional analyses and reports as requested by management
• Develop trends and projections for the companies finances
• Review all WIP variances and where necessary revise standard or average costs as necessary.
• Produce key financial ratios for the Group as well as statistical information
• Analyse costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans

Success Measure

• Monthly finance EXCO reports
• Analyses reports
• Budget

Budgeting and Business Planning

• Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
• Manage the preparation of the company’s budget
• Ensure information is collated for budget planning process
• Review and monitor cost data accumulation within the business and to ensure that the Ability accounting system is aligned to provide an appropriate level of costing information to management
• Management the process of collation of strategic projects and their impact on the budget
• Assist the business in managing capacity requirements and the impact on the budget

Success Measure

• Approved budget and forecasts
• Input on the strategy

Management Of Costs And Analyses

• Participate in target costing activities to create products that meeting predetermined price goals
• Engage in benchmarking studies to establish areas of potential operational improvement In collaboration with the Actuarial team, assist in the determination of product pricing in relation to features offered and competitor pricing
• Review cost model and ensure correct % and products used and taken into account for shared services, between the different entities
• Review the analysis of different cost drivers for the insurance business and administration expenses and sign off reports and recommendations

Success Measure

• Approved budget and forecasts
• Input on the strategy

Oversee Efficient Financial Operations Areas

• Ensure adequate internal process to ensure efficient transactional operations
• Develop adequate KPI’s to monitor appropriate delivery and ensure compliance to legislative requirements for procurement, COIDA ACT membership collection
• Premium collections and retentions targets maintained

Success Measure

• Clean control environment
• Achievement of growth targets
• Provide Financial Expertise In The Identification Of New Business/Investment Opportunities
• As and when required, report on investment opportunities, analyse feasibility of opportunities and provide recommendations to management on profitability of new investment opportunities.
• Collect and analyse data of present and past investments and operations, trends and costs, estimated and realised revenues, administrative commitments etc.
• Develop and use high quality financial modelling to assess and predict outcomes, financial risks and returns of investment decisions
• Provide expertise by conducting feasibility studies for business expansion and new business acquisitions
• Conduct valuations for Mergers & Acquisitions (M&A) if and when required in conjunction with the Corporate Finance Specialist
• Prepare and present proposals/business cases, pitches and/or formal presentations to senior management on investment/ capital allocation opportunities
• Partner with the Corporate Finance Specialist to provide investment advice and recommendations to the Executive Committee, Shareholders and Board on how to meet targets, use and allocate excess capital (including but not limited to merger and acquisition initiatives, potential opportunities, and financial due diligence)
• Develop and use high quality financial modelling to assess and predict outcomes, financial risks and returns of investment decisions
• Provide expertise by conducting feasibility studies for business expansion and new business acquisitions
• Conduct valuations for Mergers & Acquisitions (M&A) if and when required in conjunction with the Corporate Finance Specialist
• Prepare and present proposals/business cases, pitches and/or formal presentations to senior management on investment/ capital allocation opportunities
• Partner with the Corporate Finance Specialist to provide investment advice and recommendations to the Executive Committee, Shareholders and Board on how to meet targets, use and allocate excess capital (including but not limited to merger and acquisition initiatives, potential opportunities, and financial due diligence)
• Provide input into commercial partner agreements by structuring the financial aspects thereof Negotiate and structure financial details
• Partner with the Corporate Finance Specialist in advising on investment activities and provide strategies that the company should take

Success Measure

• Business Cases to the Audit Comm and EXCO
• Acquisition valuations
• Partnerships and new product pricing

Staff Management and Leadership

• Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met
• Provide leadership and guidance to the finance team to provide efficient customer service to internal and external users of financial information
• Success Measure
• Achievements of set targets and objectives

Legal and Compliance

• Liaise with auditors to ensure appropriate monitoring of company finances is maintained
• Identify risks that could have financial implications for the company and provide business advise at all levels of the company
• Ensure ongoing compliance to all relevant legislation and statutory requirements
• Success Measure
• Clean audit reports
• Compliance

WHAT YOU'LL BRING TO THE TABLE?

• Undergraduate Degree / Honours Tertiary Degree NQF BCom with Articles
• Level 7: BCom with Articles CA (SA)
• Minimum Experience: 10 years post qualification experience, of which at least 5 years in a Senior Managerial level, commercial awareness & strong analytical skills, experience in a Regulated Financial Services firm
• Preference will be given to candidate with experience in the life insurance space.
• Proven track record in strategic financial planning, risk management, and regulatory compliance.