Senior Manager: Finance (INSETA147) at Insurance Sector Education and Training Authority - INSETA

Key Performance Areas

Outputs

Strategic Financial Management and Operational Financial Management (60%)

• Ensure sound, effective, efficient end-to-end financial management value chain and systems to the SETA that optimally support delivery on business needs and requirements
• Ensure the provision of accurate and timeous financial information in order for Management to make informed decisions in all areas of operations
• Drive continuous process efficiency, financial rigor and improved internal control environment
• Ensure compliant, effective and efficient grants management value chain in respect of Mandatory and Discretionary Grants.
• Review existing /develop policies and procedures relating to financial management and reporting, budgeting and grants management within the legislative prescripts.
• Review existing/develop accounting policies in line with the Generally Recognised Accounting Framework and applicable SETA legislation.
• Drive cost management objectives for functions in the SETA
• Pioneer, build and implement finance best -practices and effective change enablement financial services and support for the SETA
• Manage, develop, coach, motivate, performance manage and inspire the Finance and Grants Management teams ensuring performance against set individual and SETA targets
• Continuously monitor the SETA’s financial performance and proactively provide financial advice, support & services to the CFO to ensure delivery on SETA strategic objectives, for example. Analysis & Recommendation of financials; Continual improvement of financial systems & controls.
• Monitor & manage cash flow (debtors, creditors); Operational and Capital Expenditure; Levies & Grants
• Keep abreast of developments within the SETA environment as prescribed by the Department of Higher Education and Training, National Treasury including the Office of the Accountant General
• Ensure compliance with all regulatory and government prescripts
• Inculcate a culture of effective, efficient, economic and transparent use of financial and other SETA resources through the adherence to relevant policies and the requirements of the PFMA
• Oversee and ensure the effective management of internal and external audit processes.
• Ensure the development, management and control of budgets in line with the National Treasury guidelines and provide support and advice through consultation in the preparation process
• Monitor the SETA’s financial performance (manage expenditure and budget revision)
• Ensure the compilation, credibility and integrity of monthly, quarterly and annual financial, budget performance and Supply Chain Management reports that comply with regulatory requirements and accurately reflects SETA financial performance
• Development and implementation of robust controls to mitigate against irregular, fruitless and wasteful expenditure
• Ensure efficient and effective financial management support to internal stakeholders
• Ensure the effective and efficient management of relevant Service Level Agreements (SLAs) that will result in delivery on the expected and desired outcomes
• Support the core function to achieve Strategic Plan and Service Level Agreement targets with the DHET;
• Manage the preparation of quarterly and annual financial statements in compliance with Generally Recognised Accounting Practice (GRAP); and assist the SETA to achieve a clean audit outcome annually
• Ensure knowledge-sharing, documentation of information and a team that is informed and up to date with developments in the financial environment
• Ensure the synergy between the different divisions is utilized to continuously deliver on the strategic objectives of the SETA
• Ensure adherence to INSETA policies, procedures and local legislation
• Professional visible representation of the SETA ensuring all behaviours and conduct are aligned with the SETA values
• Maintain professional and technical knowledge ensuring benchmarking of state-of-the-art practices and teams that are informed of new developments and initiatives
• Continually build robust change resilience, so that people can adapt quickly to necessary business reinvention
• Explore and pursue alternative funding measures
• Effectively plan, coordinate, manage and execute ad hoc projects

Risk, Regulatory and Compliance Management 15%

• Contribute to and support the Chief Financial Officer in establishing, implementing and maintaining grants management, and accounting administrative, management and control systems.
• Provide advice and guidance to INSETA management on an ongoing basis to ensure compliance and governance.
• Enforce compliance to all regulatory frameworks for all grants activities both by business stakeholders as well as the team, ensuring the INSETA adheres to risk and compliance policies and procedures, including compliance to INSETA policies and procedures, e.g., delegations of authority.
• Work closely with Human Resource partners to ensure effective and appropriate disciplinary steps are taken against any employee who contravenes or fails to comply with financial management prescripts of INSETA or undermines the grants management and internal control system of the INSETA
• Identification and assessment of operational risks within the division
• Design and implement controls to address identified risks and reduce the residual risk ratings 
• Determine and implement corrective action/s in response to reported internal and external audit findings.

People Management 15%

• Lead and develop staff within the context of the Labour Relations Act, Employment Equity Act, Basic Conditions of Employment Act and the Skills Development Act.
• Unite employees around the INSETA values and personally demonstrate the values in everyday behaviour.
• Ensure that the correct number, appropriately competent people are timeously appointed to meet the Division’s objectives.
• Build and maintain a positive, empowering, performance-driven culture within the Division:
• Ensure all employees in the Division are clear on their own role, and the expectations of successfully fulfilling the role.
• Ensure that each employee has a line of sight as to how they personally contribute to the INSETA’s and the Division’s mandate, purpose, vision, and mission.
• Ensure all employees in the Division have a mutually agreed, signed performance contract.
• Monitor staff performance and provide regular feedback.
• Conduct regular performance discussions with subordinates.
• Coach and support staff where necessary to achieve set objectives.
• Motivate and inspire employees to deliver on and exceed expectations.
• Ensure all employees in the Division have access to the information, equipment, job aids, tools, processes, SOPs, policies and other resources to successfully fulfil their role.
• Promote cross-divisional support and teamwork to break down silos and to harness multi-disciplinary knowledge, insights and skills.
• Manage staff activities, ensuring service levels are met and protocols are adhered to, e.g.,
• Manage staff leave and general time management issues in line with organisational deliverables and standards.
• Lead Divisional project management teams to achieve functional objectives.
• Manage and deliver on succession plans to enable the development of a future generation of leaders and specialists and ensure optimal turnover and retention levels are maintained.
• Ensure that all employees in the Division have an active, needs-driven PDP supported by the INSETA and champion staff training and development through the utilisation of available training opportunities or contributing to the development of new training solutions.
• Maintain optimal employment relations in area of responsibility and follow labour relations policies and procedures to ensure fairness.
• Lead the team towards meeting the strategy and targets through regular communication and utilisation of the full organisational talent management tool set:
• Establish regular (at least monthly) team and one-on-one meetings (between self and direct reports, and managers and their direct reports) within the Division to provide feedback, share information and build morale.
• Ensure that records of meetings are kept and shared across the team and that action plans agreed to within team meetings are delivered upon.
• Establish other effective communication structures and systems to ensure real-time vertical and horizontal communication.
• Ensure that all employees in the Division have a mutually agreed (between themselves and the INSETA) career plan that they personally find compelling and energized to pursue.
• Manage disciplinary and grievance procedures and incidents.
• Plan and manage finance staff activity to achieve efficiency in meeting all reporting requirements timely

Stakeholder Relationship Management 10%

• Maintain effective relationships with internal and external stakeholders, to drive the provision (including responsibility) of grants financial information and support to all relevant stakeholders.
• Give input to the development of proposals to obtain strategic partnerships and support the Chief Financial Officer in managing existing agreements with external entities such as industry, government, universities, and international partnerships.
• Responsible for resolution of stakeholders concerns and queries relating to any discretionary grants and mandatory grants management, reporting and accountability matters.
• Build INSETA’s credibility and reputation in the sector.
• Ensuring stakeholder satisfaction on service delivery related matters
• Providing periodic training to stakeholders on updated SOPs

REQUIRED QUALIFICATIONS AND EXPERIENCE

Qualifications

Minimum Requirements:

• Grade 12 or equivalent and an:
•  NQF level 8 qualification in Financial Accounting.

Preferred Requirement: Chartered Accountant (SA).

Experience

Minimum Requirements:

• A minimum of 6-7 years’ relevant experience in financial management and accounting at management level is required.
• Experience in a SETA or Public Sector environment