Group Financial Director

Primary Purpose of Position:The Group Financial Director is responsible for the overall Financial Management of all companies / entities within the Group ensuring financial health, stability and long-term sustainability. The Group Financial Director will establish, implement and maintain the financial system of internal controls, policies and procedures which will enable the Group to consistently comply with requirements as prescribed by Law, and accounting standards (IFRS), and to efficiently manage all matters related to finance and administration within the Group.   Key Duties and Responsibilities:The Group Financial Director will be responsible for the following key performance areas;Strategic and operational guidanceProvide strategic direction in respect of financial management and participate in the strategic planning processes of the Group.Establishing, maintaining and improving financial procedures, structures, systems and policies.Business and financial strategy, planning, monitoring, management and reporting, including management and development of policies, systems, processes and personnel involved.Implement a standardized financial reporting format / framework together with monthly calendar year submission deadline dates.Ensure the submission of monthly flash and actual results consisting of an income statement, balance sheet and cashflow for each company, and for the Group as a whole.Review Financial services performance and make recommendations to improve efficiency and effectiveness.Evaluate the adequacy and effectiveness of internal controls, governance and risk management of all business processes, and take the necessary corrective action to enhance efficiency.Develop and implement service delivery improvement programs.Ensure that there is full compliance by each company with relevant legislation, policies, and guidelines.Financial ManagementReporting, auditing and accounting as per regulatory and legal requirements include taxation, dividends, annual reports and accounts.Verify, check and sign off each paper-based audit working file for every company within the Group for the external auditors to audit.Manage the implementation and execution of Finance policies, procedures and practices.Verify and check draft audited annual financial statements. Present final annual financial statements to the Group directors at AGMs for approval. Calculate and present liquidity and solvency tests for each set of annual financial statements, as well as a framework for directors’ valuations for each company.Monitor the operation of accounting systems, internal controls and procedures to ensure the integrity of the financial information, mitigation of risks and overall sound financial control.Ensure the effective, efficient, economical and transparent use of financial and other resources.Review, manage and oversee the finalization of annual financial statements for each Company, as well as, for the Group consolidation.Ensure compliance with all Statutory-, Companies-, Bank-, Income Tax and Commercial Acts.Oversee SARS reconciliations and statutory submissions.Provide financial management support and guidance to all the different divisions – internal or external.Settlement of all contractual obligations and payments owing within prescribed and agreed payment terms.Ensure that fixed asset registers and schedules are maintained and reconciled to the general ledger control accounts.Ensure that balance sheet items, for each company, is reconciled monthly before any financial results can be disclosed / reported.Oversee that divisional financial managers perform internal audits at the companies which they are responsible for, on a regular basis.Ensure that the recommendations of internal and external audits are implemented and adhered to and the elimination of existing audit queries.Oversee and monitor monthly and annual regulatory payments made by Human Resources Department – Paye, Ulf, Pension etc.Oversee company tax calculations of each company which must thereafter be verified by external auditors before submission to SARS.Oversee monthly submission of VAT.Financial ReportingLead and oversee an effective financial reporting frameworks within the Group.Ensure all bank balances for each company are distributed to the nominated EXCO members twice daily, in the morning and in the afternoon.Compile, present, and discuss monthly flash results for all the companies within the Group with the CEO, before distribution to the EXCO according to agreed deadline dates.Compile, present and discuss monthly actual results for all the companies within the Group with the CEO. Any actual variances against flash results must be explained in detail. The actual results per company, per division and Group to consist of the EBITDA result, cashflow, debtor, creditor, stock, external and intergroup loans, together with various supporting graphs.Flash and actual results to be compared against budget, and variances must be explained and investigated should further action be needed.Present audited financial statements for each company at an AGM to the board of directors for approval. Detail explanations should be given for variances compared against previous years’ results together with liquidity and solvency calculations as required by the company Act. Annual director valuations per company are also to be finalised at the AGM.Banking and Cash ManagementOversee the Group treasury function, ensuring that it is perform on a daily basis for each company, as well as, for the Group.Compile monthly cash flow information for the Group on one page, summarized by categorized income, expenses and capital expenditure.Provide final approval for every beneficiary/supplier loaded on the electronic banking system used by the Group, and ensure all payments are finally approved at Group Head office.  Daily cash flow planning and management per company as well as for the Group.Liaise and negotiate with banking and financial institutions to ensure that the necessary facilities, services and products as required by the Group are in place at the best cost and service levels.Ensure the establishment of systems, procedures and processes to ensure efficient and effective banking and cash management.Oversee the preparation of bank reconciliations, which must be conducted daily / monthly, and all outstanding items are cleared.Regular reporting on cash management performance.Budget ManagementInitiate, design and co-ordinate the annual budgeting process with supporting templates.Provide budget guidelines for each division i.e. interest rate, salary and wage increase %, inflation, feed prices etc. and ensure that the budget process is aligned to the Strategic plan.Oversee the budget preparation process by providing advice and support to the Group and review the individual budgets which are to be presented for final approval by the CEO.Budgets must be compiled in detail per month per profit Centre, and should consist of income statement, balance sheet, cashflow, loan account balance and required capital expenditure.Prepare a du Pont analysis and explain per company their budget margins, asset turnover, liquidity ratio, solvency ratio, return on net assets, and average return on equity.Prepare the annual consolidated budget (EBITDA) figure whereby the CEO sets targets for each company during the budget presentation for approval. Final approved budget and target figures are then presented to the Chairman and EXCO members for information purposes.Risk managementThe Risk Management Director reports directly into the Group Financial Director, and the following responsibilities are overseen;IT management The IT Director reports directly into the Group Financial Director, and the following responsibilities are overseen;Management of staffLeadership of direct financial employees ensuring that all HR policies, procedures and practices are implemented and maintained.Monitor staff utilization and motivation at all levels.Proactively manage the succession plan, ensuring a pipeline of leadership in finance in specific a Group Financial Director.GeneralAs a member of the Group EXCO participate in the setting of strategic direction and address day-to-day challenges within the Group.Member of the Group raw material procurement committee, ensuring that the necessary raw materials and facilities are in place to finance physical stock, as well as financial instruments used to procure raw materials for the Group by the procurement department.Verify, check and approve all broiler contract grower payments.Verify, negotiate, approve and assist specific companies with forex payments, related to imports and exports.Capital Expenditure - Ensure that separate recordkeeping is kept and that project numbers are allocated to all Capital expenditure requests, supported by the necessary motivation and documentation for final approval by the Chief Executive Officer.As and when required, assist business units with advice, guidance and systems to improve results.Undertake due diligence investigations, as and when required.Participate and provide financial oversight as a management member of the Group Retirement fund management committee.Any other reasonable duties that may be required by your senior from time to time.Qualification / Experience:B Comm. Accounting degree or equivalent degree in Financial and Management accounting.A minimum of 10 years’ financial management experience, of which 5 years must be at Senior Management level. Experience in budgeting and financial management.Experience in audit processes, internal and external.Insight into the working of insurance and IT.Understanding of Pension funds, and the management thereof, A Minimum of 3-year relevant experienceOther: (Licenses, Associations, Registrations)Valid driver’s license and own vehicle.