Finance Director at TBWA\ South Africa

Description

Strategic

• Strong partnership with the CEO and board to ensure the delivery of the objectives in the Business Plan
• Be a key player and work with Executive Committees in:
• Defining the desired corporate vision and values
• Setting the best corporate strategic direction aligned to the vision and business plan
• Making regular decisions on key strategic issues facing the company
• Periodically reviewing the companies' overall strategy to ensure that the organisation anticipates and responds to changing business conditions
• Defining core business processes that ensure achievement of the company's objectives
• Ensuring finance strategic objectives are set and implemented throughout the organisation according to a planned timetable
• Attendance of and active participation in Board Meetings

Financial Performance

• Monitoring (organic and new business) revenue growth targets established in relation to agency clients and bringing to exco any potential issue; ensuring appropriate action is taken.
• Run monthly client profitability meetings ensuring profitability initiatives are followed through, client meeting set to recover over-serving and other initiatives taken in a timely manner. 
• Work with the CEO and client service to ensure unconfirmed revenue opportunities are reported, chased and converted in line with forecast. 
• Commercial pro-activeness, i.e. continuously steer in conjunction with Group Ops Director and EXCO and drive cost saving initiatives, potential red flags and streamlining initiatives.
• Prepare the Agency standard rate card and individual client rate cards. 
• Ongoing Working Capital Management in order to achieve maximum financial benefits and efficiencies.
• Ongoing input and collaboration with heads of departments regarding salaries growth opportunities, BBBEE targets and other cost saving initiatives.
• Negotiating & managing retainer client scope (hours and hourly rates) against actual hours worked, as well as agreed commissions/margins

Budgeting and Forecasting

• Preparation and presentation of budgets, monthly and quarterly forecasts in accordance with Omnicom reporting standards and timesheets. 
• Ongoing review and reforecast of revenue in line with knowledge of contracts and input of MD and BUD’s.
• Detailed review of salaries incorporating changes from exco team.
• Ongoing monitoring of budgets and forecast and actioning of plans to bring back, if under. 
• Promptly inform the executive committee and group CFO any issues that will affect (good or bad) the agency’s preforming to budget/forecast. Together with a plan of action if required.
• Establishment of annual capital expenditure budgets (including the ongoing monitoring thereof).
• Review and analysis of the accounting and operating quality of the action, budgeted and forecasted results.

Global Finance Director

• Finance point of contact with global clients Nissan, MTN and Liberty and other new global clients. 
• Develop /Maintain financial models in relation to productivity and scope of work allocation, hours reporting. 
• Standardization of Time/Hours reporting across all Group companies including pan-African affiliates.
• Implement ABSA/HLJHB commercial best practice in other TBWA Group companies and pan Africa.
• Commercial Negotiation of the South African contract, and assist if required, the affiliates with their commercial negotiations of their annual MTN contracts.

Reporting and Finance Management

• Review of financial reports in accordance with Omnicom reporting standards and timetables.
• Review and presentation of management accounts and management information to respective executive committees.
• Maintaining the integrity of the time reporting system.
• Global Clients – adhoc reporting to TBWA Network. 
• Commercial analysis and presenting of client profitability reporting to BUD’s and executive committees in line with KPI’s.
• Review and sign off of the AFS after annual Statutory Audit. 
• BEE reporting, guidance and direction to the agencies.
• Review of provisional and annual income tax.
• Review VAT returns ensuring compliance with latest legislation.
• Manage the compliance with SARS.
• Ensure accuracy and completeness of bank releases, journals and balance sheet reconciliations.
• Designs, implements and maintains Internal Controls in line with SBOX and Omnicom requirements for finance.

Contract Management

• Participate in negotiation of new client contracts with in- house counsel. Responsible for signing off the financial aspects of any contracts including risk exposure.
• Retainer and Project fee calculation for new and existing clients.
• Ongoing clients review to assess compliance with legal and financial provisions of the client contract and to ensure that maximum agreed profitability levels are achieved.
• Ongoing monitoring of compliance with new and existing client contracts, specifically: 
  • Scope of work 
  • Manpower resource required
  • Remuneration structures 
• Manage the finance and compliance requirements during RFI/RFP process.
• Negotiation of renewal of existing supplier contracts. 
• Negotiation of new employee contracts in line with approved budgets.

Requirements

Strategic

• Strong partnership with the CEO and board to ensure the delivery of the objectives in the Business Plan
• Be a key player and work with Executive Committees in:
• Defining the desired corporate vision and values
• Setting the best corporate strategic direction aligned to the vision and business plan
• Making regular decisions on key strategic issues facing the company
• Periodically reviewing the companies' overall strategy to ensure that the organisation anticipates and responds to changing business conditions
• Defining core business processes that ensure achievement of the company's objectives
• Ensuring finance strategic objectives are set and implemented throughout the organisation according to a planned timetable
• Attendance of and active participation in Board Meetings

Financial Performance

• Monitoring (organic and new business) revenue growth targets established in relation to agency clients and bringing to exco any potential issue; ensuring appropriate action is taken.
• Run monthly client profitability meetings ensuring profitability initiatives are followed through, client meeting set to recover over-serving and other initiatives taken in a timely manner. 
• Work with the CEO and client service to ensure unconfirmed revenue opportunities are reported, chased and converted in line with forecast. 
• Commercial pro-activeness, i.e. continuously steer in conjunction with Group Ops Director and EXCO and drive cost saving initiatives, potential red flags and streamlining initiatives.
• Prepare the Agency standard rate card and individual client rate cards. 
• Ongoing Working Capital Management in order to achieve maximum financial benefits and efficiencies.
• Ongoing input and collaboration with heads of departments regarding salaries growth opportunities, BBBEE targets and other cost saving initiatives.
• Negotiating & managing retainer client scope (hours and hourly rates) against actual hours worked, as well as agreed commissions/margins

Budgeting and Forecasting

• Preparation and presentation of budgets, monthly and quarterly forecasts in accordance with Omnicom reporting standards and timesheets. 
• Ongoing review and reforecast of revenue in line with knowledge of contracts and input of MD and BUD’s.
• Detailed review of salaries incorporating changes from exco team.
• Ongoing monitoring of budgets and forecast and actioning of plans to bring back, if under. 
• Promptly inform the executive committee and group CFO any issues that will affect (good or bad) the agency’s preforming to budget/forecast. Together with a plan of action if required.
• Establishment of annual capital expenditure budgets (including the ongoing monitoring thereof).
• Review and analysis of the accounting and operating quality of the action, budgeted and forecasted results.

Global Finance Director

• Finance point of contact with global clients Nissan, MTN and Liberty and other new global clients. 
• Develop /Maintain financial models in relation to productivity and scope of work allocation, hours reporting. 
• Standardization of Time/Hours reporting across all Group companies including pan-African affiliates.
• Implement ABSA/HLJHB commercial best practice in other TBWA Group companies and pan Africa.
• Commercial Negotiation of the South African contract, and assist if required, the affiliates with their commercial negotiations of their annual MTN contracts.

Reporting and Finance Management

• Review of financial reports in accordance with Omnicom reporting standards and timetables.
• Review and presentation of management accounts and management information to respective executive committees.
• Maintaining the integrity of the time reporting system.
• Global Clients – adhoc reporting to TBWA Network. 
• Commercial analysis and presenting of client profitability reporting to BUD’s and executive committees in line with KPI’s.
• Review and sign off of the AFS after annual Statutory Audit. 
• BEE reporting, guidance and direction to the agencies.
• Review of provisional and annual income tax.
• Review VAT returns ensuring compliance with latest legislation.
• Manage the compliance with SARS.
• Ensure accuracy and completeness of bank releases, journals and balance sheet reconciliations.
• Designs, implements and maintains Internal Controls in line with SBOX and Omnicom requirements for finance.

Contract Management

• Participate in negotiation of new client contracts with in- house counsel. Responsible for signing off the financial aspects of any contracts including risk exposure.
• Retainer and Project fee calculation for new and existing clients.
• Ongoing clients review to assess compliance with legal and financial provisions of the client contract and to ensure that maximum agreed profitability levels are achieved.
• Ongoing monitoring of compliance with new and existing client contracts, specifically: 
  • Scope of work 
  • Manpower resource required
  • Remuneration structures 
• Manage the finance and compliance requirements during RFI/RFP process.
• Negotiation of renewal of existing supplier contracts. 
• Negotiation of new employee contracts in line with approved budgets.