Chief Financial Officer (CFO) Job Description
Reporting To: CEO & majority shareholder Group CFO
Our client is a manufacturer of products to both the local and export markets and to a number of sophisticated industries, such Healthcare, Oil & Gas, Molten Metal, Pharmaceutical, Food Processing, Hospitality and as well as Security Services.
Qualifications and Experience:
- CA(SA) with 5 to 10 years of experience in top-tier finance and operational roles, including CFO or FM experience at a successful high-growth business.
- Superior financial acumen, including experience in a sophisticated finance organization, providing analytical insight and perspective based on presentation and analysis of financial, working capital and operating data.
- Strong understanding and experience with end to end process of cash flow and working capital management including ability to design, implement and manage the most efficient working capital cycle which would.
- Ability to lead interaction with various banks to design and raise the most effective working capital and other funding solutions.
- Strong communication and relationship skills.
- Ability to execute in a complex and evolving high-growth environment.
- Excellent ability to determine key financial metrics and other KPIs for diverse businesses, and present in a simple, easy-to-digest format.
- Proficient in the use of MS Office, integrated mid/top-tier ERP and financial management software system (e.g. Dynamics 365, SAP).
- Ability to strategize and solve problems.
- Strong leadership and organizational skills.
- Ability to inform strategic and operational decisions utilizing KPI's and own sound judgement
- Cost accounting and general manufacturing expertise (general textiles manufacturing experience would be an advantage.
- Prepared to travel throughout SA and overseas.
Personal Attributes and Skills:
- Strong accounting and financial skills.
- Strong tax knowledge.
- Excellent communication and interpersonal skills.
- Ability to effectively manage and work with all levels of diverse staff.
- Ability to work under pressure, independently and as a part of a team.
- Ability to execute in a complex and evolving environment.
- Excellent attention to detail and numerical analytical ability.
- Proven track record in leading and building high-performance teams.
The role in the context (High-Growth Business)
The role of the CFO within this business has some key differences to the CFO role within a more mature corporate. Within a high-growth business, the CFO is right at ground zero alongside the majority shareholder and CEO in defining the ultimate vision, setting the strategy to achieve the vision and transforming the operating model to deliver success.
A crucial overriding principle for this CFO role is the need for a relentless focus and obsession on building the right infrastructure, systems and platform ("Institution Building") to enable scale and growth across geographies. All decisions and actions should be taken with an eye on the value creation opportunity and potential impact on scale. Being completely focused on the Institution Building that will enable growth and scale and how best to achieve it increases the probability of success and minimizes the chances of this growth consuming the business.
And more so than ever before, technology must be leveraged to facilitate the focus on growth. Understanding, adopting and implementing broader Group digital technologies and systems to simplify the complexities associated with rapid growth is very much on the CFO's shoulders. Being able to transform significant volumes of available data into relevant business intelligence can inform and accelerate Executive Management's decision making and drive growth further and faster.
The intensity and pace of this journey can create a challenging and sometimes stressful environment, we are looking for someone who is high energy and relishes this challenge.
What we need from you:
- The CFO must be able to perform effective risk management and plan the organization's financial strategy.
- The CFO must be well-versed in all aspects of financial management ranging from simple accounting and reporting for manufacturing operations, broad business operations, banking relationships, cash flow planning and working capital management, systems and IT.
- The ideal candidate will be an excellent leader since all relative departments of the organization will be under his/her command.
- You will be driving strategic initiatives with significant financial elements, leading and/or supporting (the majority shareholder) fund raising efforts.
- You will need to gain a deep understanding of our businesses locally and abroad, both qualitatively and quantitatively, and develop metrics most relevant to strategic goals. Your analysis and insights to our numbers and working capital will be a key part of our decision-making.
- The goal is to protect the company's revenues, profits, cash flows and to develop and maintain the most efficient working capital cycle to achieve full financial control to enable sustainable growth.
What the job entails:
- Produce accurate and timely consolidated and constituent business/department reporting of Financial Performance against Financial Forecast (including for foreign subsidiary(ies)) to the management team and board of directors.
- Prepare reliable current and forecasting cash flow and accounting reports (consolidated and constituent parts of the business).
- Drive, control and evaluate the company's financial planning, working capital management, cash flow and liquidity, maintain the financial health of the organization.
- Perform risk management by analyzing the organization's liabilities and cash flow requirements.
- Decide on treasury and working capital strategies by considering cash and liquidity risks.
- Ensure cash flow and working capital is appropriate for the organization's operations and design, implement and manage the most efficient working capital cycle.
- Drive, Control and Evaluate the organization's working capital and capex fundraising initiatives and capital structure.
- Closely monitor and manage business expenditure, delivering on month on month and quarter on quarter EBITDA growth, cost-reduction opportunities etc.
- Manage various key vendor and/or client relationships.
- Integrate group's top/middle tier fully integrated ERP finance system.
- Set up and oversee the company's finance & broader IT and ERP system. Furthermore, to drive technology advancements within the business to eliminate non-value-added activities.
- Ensure compliance with the law and company's policies, particularly local and where required, foreign tax compliance and optimization.
- Understand what the drivers of the business are and set monthly goals to ensure the company is holding itself accountable to the correct metrics (Build and manage the Business Scorecard).
- Drive Business Intelligence - Mine, Structure, interpret Data and implement processes into the business, building a clear roadmap of the direction the business needs to take to achieve its financial objectives.
- Manage and supervise a team of financial controllers and financial analysts (where needed).
- Manage operations and finance team, with a focus on improvement and development of better systems and processes. Set goals and objectives and design a framework for these to be met.
- Help manage operations to find how to improve, optimize and develop a better and more efficient and cost-effective delivery of product(s) and services.
- Manage Bank relationships i.e. opening of bank accounts and accurately manage internet banking profile required for the business to test and integrate both locally and internationally.
- Develop strong Finance, Working Capital and Tax working models.
- Liaise and interact with banks and external auditors to ensure that appropriate monitoring of company finances is maintained.
- Preparation of the Group consolidated audited annual financial statements in accordance with International Financial Reporting Standards (IFRS).