CFO
Summary
Position:
Chief Financial Officer Job Family:
Executive Region:
National Location:
Johannesburg Function:
Finance Reporting to:
Chief Executive Officer
Role Purpose
To take accountability for the financial stewardship of the organisation. Responsibilities include developing a financial strategy, as well as metrics tied to that strategy, team leadership, company culture, budgeting, forecasting, reporting, general ledger production, creditors and debtors payments, financial analytics, statutory compliance and internal and external stakeholder engagement. The role also requires planning, reviewing and enhancing financial processes, controls, systems, reports and accounting practices and liaising with internal and external auditors and the board Audit and Risk sub-committee to ensure sound financial governance.
Duties and Responsibilities
Financial Reporting and Corporate Governance
Responsible for governance, cost control, optimisation of processes, digitisation and elimination of manual processes, upskilling and training and compliance with relevant laws and regulations. Some of the core responsibilities include:
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Oversee monthly reporting for management accounts purposes
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Review monthly payroll reports and payroll cost analysis
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Responsible for quarterly board pack accuracy and submission
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Oversee maintenance contract profitability analysis
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Accountable for tax returns for the entity and any other tax returns/information as and when required
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Harness data into meaningful analytics for ad hoc projects i.e., due diligences and cost efficiency initiatives
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Ensure implementation and maintenance of effective internal policies and procedures to mitigate the risk of financial fraud and protect company assets
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Initiating, conducting and monitoring ongoing business performance or improvement, operational excellence projects and interventions in line with contract profitability analyses
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Assume responsibility for the effective management of internal and external audits of Masslift Africa, effective management of review findings, and ensure these are cleared with the appropriate additional internal controls within the agreed time frames
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Liaise and oversee nominated Company Secretary provider to ensure submission of Annual CIPC returns, update of shareholder registers, change in directors etc.
Position Description:
Chief Financial Officer
2
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Ensure that suppliers have the relevant B-BBEE credentials as per set Procurement Spend Targets
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Ensure sustainable measures put in place for ongoing B-BBEE rating
Trusted advisor to CEO
Ensuring a robust risk management process and pre-empting future trends and provide possible solutions through cash forecasts, financial analysis and risk mitigation processes.
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Ensure effective and efficient cash management in line with Masslift Africa’s strategy
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Strategic guidance and management of balance sheet, budgeting and forecasting
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Ensure balance sheet management i.e.: Capex, working capital, funding levels to meet hurdle rates
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Oversee the compilation of quarterly and annual financial budgets and 5-year strategic plan for Masslift Africa as and when required
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Devise policies and processes with the changes in the business to ensure sound corporate governance processes
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Continually assess business risks, maintain the entity’s risk register and identify internal controls to mitigate those risks
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Present Risk Management Strategy to the board on a quarterly basis
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Liaise and negotiate with insurance brokers for adequate insurance cover at a cost-effective premium
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Manage exchange rate fluctuation exposure using hedging instruments
Stakeholder Engagement
Robust and strategic engagements with the board of directors, shareholders, financing institutions, regulatory bodies and OEM. Driving a mutually beneficial partnership between business and stakeholders. Core responsibilities include:
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Play a key role in building successful collaborations with internal and external stakeholders
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Undertake regular interactions with shareholders
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Report to The Board on various matters within domain
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Oversee compilation of the annual Mitsubishi Business Plan for discussion with OEM Mitsubishi Forklift Trucks
Leadership
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Manage the attraction, retention and development of a high-performance team while driving the transformation agenda and offering a sound employee proposition
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Create a team dynamic that empowers people through collaboration, responsibility and accountability
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Motivate team to action by translating the company’s vision and values into day-to-day activities
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Be a champion of the company’s values
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Drive a culture of continuous improvement and innovation.
3
Information Technology Management
Focus on the digital and IT infrastructure in the business from hardware (servers, laptops and screens) to software (digitalisation, adequacy of ERP system and data security and privacy). Use of IT infrastructure to better serve customers and make business interactions with them easier. Core responsibilities include:
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Implementation of proper IT risk management and IT governance
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Regular review of adequacy of business systems and recommend cost-effective enhancement measures
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Engage with outsourced IT service suppliers to maintain agreed levels of service as per SLA
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Engage with Software Application developers to streamline and digitise internal processes for the business
Finance KPI’s
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Meet Company EBITDA Budget and bank covenants
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Cash generation from operations (per CF statement after working capital / EBITDA) – meet cash generation ratio targets
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Maintain or improve B-BBEEE level
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Satisfactory audit report no repeat items
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Manage voluntary staff turnover
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Individual Leadership Development Rating
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All performance contracting, conversations, development, recognition and reward as per timelines; Poor Performance managed
Education
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CA (SA) or relevant equivalent
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Relevant post-graduate business / financial degree (e.g. MBA)
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Current registration with SAICA or equivalent professional body
Experience and functional skills
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8-14 years post article experience, with a minimum of 5 years in a strategic Finance role
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Strong financial acumen encompassing:
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accounting principles and standards
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financial reporting skills
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deep knowledge of a relevant ERP system
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quantitative and financial modelling skills
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capital structuring
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local and cross border tax and regulatory knowledge
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Relevant industry and technical skills and experience, with an ability to provide strategic financial leadership to the company, both locally and cross border
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Business and commercial acumen, including a sound grasp of market and economic trends impacting the business environment
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Comprehensive financial risk management skills encompassing the regulatory, governance, risk and compliance landscape
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Programme and project management skills
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Change management skills