Group Manager, Strategic Fin and Insurance at Exxaro Resources

PURPOSE:

• To assist General Manager to evaluate, negotiate and implement investments, acquisitions and divestments in line with the Group strategy to ensure an optimum return from these merger and acquisition, divestment, listing and other corporate actions.
• To assist the General Manager to ensure that projects and business transactions are appropriately structured from a commercial perspective.
• To execute scenario planning at group and company level over the short to medium term including assessment of financial covenants and financial metric risk threshold achievement.
• Performance of accounting, impairment and deal making valuations.
• Construction and maintenance of project and group financial models including models for concept and bankable project studies.
• To manage Capital Project budgets/improvement tasks through execution of prescribed standards, maintenance, and process requirements.
• Financial reviews of investment opportunities and compilation of capital budgets.
• High level/top-down target setting of key financial metrics.
•  Drive the long-term strategy for Exxaro’s insurance captive to ensure adequate insurance cover for Exxaro’s insurable risk.
• Manage the insurance portfolio and associated claims processing.  
• To manage interaction with service providers and experts to ensure optimal management of insurable risk through the insurance captive.
• To compile all regulatory returns in terms of the Short-Term Insurance Act and associated legislation.

MAJOR CHALLENGES:

• Allocation of financial resources according to group priorities
• Alignment between budget, cost and demand
• Skills shortage especially in modelling environment and with regards to industry specific knowledge.
• Commercial soundness with varying levels of data to inform the decision
• Challenging environment with innovative and untested new ventures
• Negotiation at the highest level with counterparties.
• Legislation, Regulation (Financial Service Board), Insurance Act 18 of 2017, and Accounting Standard changes.
• Multi- national transactions with different legislative requirements.

Minimum Requirements    

QUALIFICATIONS:

• Chartered Accountant (CA) (Essential/Minimum or)
• Chartered Financial Analyst Level 3 (Essential/Minimum)
• Management Development Programme (Essential/Minimum)
• Master of Business Administration (Recommended/Desirable)

EXPERIENCE: 

•  At least 10 years’ experience in corporate finance or investment banking environment at mining/resource, corporate or investment bank from origination to closing of transaction. Relevant financial, modelling, accounting, management and commercial experience, with demonstrable experience in corporate deal making. Relevant experience in managing insurance captive and compliance with Financial Sector Conduct Authority and related legislative requirements. Strong planning, organising and integration skills, with proven ability to manage multiple projects and prioritise tasks effectively. Strong analytical and problem-solving skills, and proven ability to trouble shoot complex issues and resolve them. Ability to work in a dynamic and challenging environment under pressure and manage tight deadlines. (Essential/Minimum)    Management

REQUIREMENTS: 

• Psychometric Assessment (Essential/Minimum)
• Certificate of Fitness (Essential/Minimum)
• SA Institute for Chartered Accountants (Essential/Minimum)
• Registered with Professional Body (Recommended/Desirable)

Duties & Responsibilities    

BBBEE Transaction    

• Maintenance of the current Eyesizwe RF BEE transaction, including any shareholding and debt restructurings, including assessment of the need for a replacement or top-up transaction, e.g. for one of the operations to comply with the mining charter
• Best Practice and Knowledge Management    
• Confer and sharestrategic and tactical information with relevant stakeholders to discuss issues, coordinate activities and resolve. problems related to execution of company strategy, commercial ventures and new agreements.

Business Performance and Operations    

• Evaluate start-up/operating opportunities from commercial, financial, strategic and limited technical perspective.
• Negotiate and advise on commercial terms of agreements.
• Permanent member of all SteerComs.
• Occupy director or trustee appointments as and when required.
• Develop and execute corrective action plans.
• Work with General Manager to develop group financial plan.
• Assist general manager with capital budgeting, due diligence, investigations, financial reviews, target setting, performing valuations (incl. accounting, impairment testing, Mergers and Acquisitions (M&A), project), corporate modelling and establishing long term capital plans.
• Macroeconomics and commodity price analysis and forecasting.

Commodity Strategy and Strategic Sourcing    

• Keep abreast of market conditions including technical and professional developments and new industry practices.
• Assist in the formulation of strategy.
• Test commercial soundness of strategy.

Compliance, Governance and Assurance    

• Assist in developing policies, procedures, standards, and guidelines for financial management and capital management.
• Ensure investment proposals comply with the Company’s capital management governance process.
• Develop policies for financial modelling in the Company.
• Ensure all information and reporting has integrity and is in strict compliance with proper accounting principles.
• Review commercial and financial transaction detail before submission to approval authorities.
• Responsible for negotiation of annual Risk Finance (Insurance) renewal and ensure effective management as far as both Property and Casualty liability is concerned for assets and liability covers in local and international reinsurance markets.

Customer and Client Relationship Management    

• Support core business by ensuring appropriate stakeholder relationships toward enhancing corporate profile.
• Manage internal and external relations, including interface with external providers or other functions responsible to ensure that business needs are met.
• Represent the Company at applicable forums.
• Provide relevant and specialised support to applicable stakeholders.
• Negotiate with counterparties.

Employee Stock Ownership Plan    

• Maintenance of the ESOP and community trust structures, including restructuring required as a result of M&A transactions, additional Exxaro or Eyesizwe RF share to be acquired to provide for new employees, etc

Financial Management    

• Constructing of financial model.
• Populating of financial model assumptions.
• Scenario planning based on corporate financial model.