Executive: Group Finance (Parktown) at Rand Mutual - RMA

THE JOB AT A GLANCE

• As the Executive: Group Finance, you will be responsible for overseeing the financial reporting and operational finance aspects of the organisation, this will involve oversight of the internal and external reporting processes and undertaking business insights analysis that is required for the business and the Group.
• 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 and Regulatory reporting:
• Review the Group annual financial statements ensuring compliance with latest standards
• Review all the Group regulatory returns (SARB, SARS, FSB) – Quarterly & Annual
• Review and discuss the Financial and Qualitative inputs for ORSA including using Business Intelligence to provide 5-year projections, ensuring that the methodology is adhered to including SAM processes and procedures
• Review Internal Process and ensure adequate system of Internal Control
• Address queries regarding IFRS accounting treatment
• Review investment and regulatory related policies
• Provide risk management with inputs for qualitative regulatory returns; Continuous process improvement
• Provide financial reports and interpreting financial information to managerial staff while recommending further courses of action
• Manage the reporting department to ensure sound financial control, adherence to policies, secure and accurate financial reporting
• Submit monthly reports to management

Financial Analysis :

• Maintain the overall financial health of the organisation by monitoring and evaluating the profitability of the Group
• Engage in ongoing cost reduction analyses in all areas of the company
• Review the performance of competitors and report on key issues to management
• Engage in benchmarking studies to establish areas of potential operational improvement
• Interpret the company's financial results to management and recommend improvement activities
• Participate in target costing activities to create products that meeting predetermined price goals
• In collaboration with the Actuarial team, assist in the determination of product pricing in relation to features offered and competitor pricing
• Compile key business metrics and report on them to management
• Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
• Conduct reviews and evaluations for cost-reduction opportunities
• 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
• Review all WIP variances and where necessary revise standard or average costs as necessary.
• 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
• Produce key financial ratios for the Group as well as statistical information

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

Provide financial expertise in the identification of new business/investment opportunities:

• As an 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)
• 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

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

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

Ad hoc projects:

• Assist and provide related finance reporting support for any ad hoc projects as and when required

WHAT YOU'LL BRING TO THE TABLE?

• NQF Level 7: BCom with Articles
• CA (SA)
• Minimum Experience: 8 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
• Background knowledge of financial sector and insurance industry
• Above average IT skills
• Knowledge of IFRS 17