Head Of Finance at Ignition Group

The role

We are looking for a leader to join our organisation in the role of Head: Finance.

The successful candidate will run the financial function for Ignition Financial Services (comprising a Life Assurer, Short Term Insurer, Broker, Administrator and Cell Captive). The Group is a small-to-medium portfolio of Direct-to-Consumer Insurance companies that has strong growth ambitions to be a meaningful player in the African Insurance market.

The Head: Finance will take a leadership role in the Financial Services Group and be integral in setting the strategy for the portfolio of companies. They will sit on all the Boards and provide strong input into the technical areas of the Group (Capital management, Solvency, Budgeting, Product Development etc).

The Head: Finance will be given the ability and accountability to make independent decisions and therefore an entrepreneurial mindset will particularly enjoy and excel in this fluid environment.

The detail

Strategic guidance on finance, commercial and distribution

• Participate in annual and long-term (5 years) strategic planning.
• Provide guidance on industry best practice.
• Fulfil the function of a non-executive Director for Viva Life.

Responsible for the input of financial information including:

• Calculation and/or review of premium income, Fin Re, Reinsurance and Commissions.
• Review of the monthly income statement and balance sheet.
• Analysis and reporting on financial results.
• Management of scheme administration for short-term business.
• Approval of payments within authority limits.
• Release of EFT payments.
• Management of cash flow for each statutory entity.
• Maintaining solvency and forecast CAR and financial soundness of FSPs.
• Management of investments in terms of regulatory requirements.

Responsible for the output of financial information including:

• On-going analysis of data and financial results to provide recommendations to the executive team for operational and strategic improvements.
• Preparation of finance and distribution reports for monthly BU pack.
• Presentation of financial and distribution results at Financial Services monthly Exco.
• Computation of financial forecast revised monthly.
• Compile annual budget and 5-year projection.
• Preparation of financial information for 5-year Strategy.
• Regulatory reporting and submission to Financial Services Board – Annual and quarterly LT returns, CBR, SAM returns.
• Compilation of Board meeting packs and attendance at meetings.
• Facilitation of Company Secretarial reporting.
• Facilitate external audit of financials and regulatory returns.
• Preparation of IFRS compliant annual financial statements.
• Preparation of year-end and provisional tax computations and submission of tax returns to SARS, including Life fund tax calculation.

Accountable for Commercial Finance reporting

• Review commercial finance calculations for validity and accuracy. This includes actual monthly VoNB calculations and forecast calculations.
• Responsible for analysis and articulation of commercial finance results.
• Responsible for overseeing the actual distribution performance against forecast and targets.
• Provide insights into improving the commercial elements of the business.
• To ensure alignment of results with the actuarial department and the broader Ignition Group.

Marketing Oversight

• Manage the marketing requirements of Viva. Work with the Account Manager as the Product Owner in the business unit, to manage all marketing projects.  
• Facilitate and coordinate Viva marketing briefs and ensure adherence to CI. 
• Ad-hoc projects:
• Support the delivery of relevant projects objectives, as and when these arise.

Team Management

• Build a strong team, including team resourcing, succession planning, management and development ensuring the right people are in place to support service delivery, achieving business objectives and performance targets always.

Are you this person?

• Are you a qualified CA (SA)?
• Do you have approximately 5 years of management experience?
• Do you have between 5-10 years’ experience within the Financial Services / Insurance industry?
• Project Management experience is preferable.