Randgold Resources
Clearly, despite all the challenges and difficulties our industry has been through or may continue to experience moving forward, there is always something to celebrate. That is what makes this job worthwhile!
- Laura Cornish, Editor
Job Advert
finance
22 November 2017

Group CFO (Energy / Petroleum / Oil & Gas / Chemical / CFO) Cape Town

CA Mining mining jobs Mining Review Africa

Reference: MIM

Job Purpose:
Lead, direct and assume accountability for the development and execution of Financial Management, group supply chain management and Information Services strategies, policies, procedures and work practices aligned to Generally Accepted Accounting Principles (GAAP) and advise EXCO and the Board on enterprise wide Financial Management, tax analysis, investments, mergers and acquisitions, treasury, hedging and insurance; group supply chain management and information services matters to ensure that the financial implications of business decisions are meticulously considered and their impact correctly recorded and reflected for both financial management and statutory purposes and aligned to PFMA (Public Finance Management Act ) and, the Companies Act and the relevant legislation and governance frameworks to enable the company to achieve its strategic objectives

Key Performance Areas: 
Internal Business Processes (Operational)

  • Lead, direct, assume accountability, provide strategic financial leadership and advise the GCEO, EXCO and the Board, as a subject matter expert, on the financial implications of the strategic business developments, key corporate planning, issues and, keep them informed about business activities, tax analysis, investments, treasury management,  mergers and acquisitions, hedging and insurance, group supply chain management and information services performance, opportunities and as the prescribed officer, recommended courses of actions to ensure the company achieves its strategic, specific financial objectives, including cost containment strategies and targets aligned to the PFMA (Public Finance Management Act ), the Companies Act and any other relevant legislation and governance frameworks to enable the company to achieve its strategic objectives.
  • Shape, assume accountability and lead the execution of the company’s consolidated financial budget and directs the process to ensure high integrity enterprise consolidated monthly financial reports / results and year end forecasts to the executive and develop and implement the Division’s overall strategy and setting of business targets in order to realize stakeholder value and ensure the company’s sustainability and growth aligned to company policies, processes and systems.
  • Lead, assume accountability and direct mergers and acquisitions to ensure an integrated approach is followed and risks are managed to ensure both a successful M&A initiative and increased shareholder value.
  • Lead, direct and assume accountability for the insurance portfolio of the company to ensure that Enterprise assets are covered at replacement cost and loss of profits are covered at actual losses, including the development and evaluation of the insurance strategy to protect and conduct physical asset valuations, national and international insurance market trends evaluation, facilitation of BI computation and insurer engineering visits and risk identification and mitigation to ensure that assets are insured correctly and for correct values.
  • Lead, direct and assume accountability for hedging strategies to ensure price risk exposures are mitigated through policy establishment and aligned to prevailing legislation.
  • Lead, assume accountability for designing effective tax planning strategies within the prevailing tax regulatory framework. Ensure that there are effective tax risk management strategies and controls in place within the ambit of the prevailing tax laws.
  • Lead, assume accountability and direct the development and execution of the enterprise wide finance strategies including financial reporting for the Group, provide the consolidated financial consequences of the enterprise strategy and facilitate the preparation and implementation of a financial reporting functional strategy aligned to GAAP and corporate guidelines to ensure sufficient cash flow, reduced operating costs and increased revenue.
  • Lead, assume accountability and direct the business planning process, assess business model impacts and plan optimal and appropriate strategies to ensure the operations and capital plan are developed and aligned to financial and business strategies.
  • Lead, assume accountability and direct the accurate development of the organisation’s half year and annual statutory consolidated financial statements to ensure that stakeholders are able to accurately gauge the financial status and performance of the company.
  • Lead, direct, assume accountability for group supply chain management and monitor the procurement of  transactional goods and services according to prevailing procurement regulations and best practice to ensure an efficient supply chain process, with minimum risk in compliance with the company procurement policies and procedures and governance.
  • Lead, direct and assume accountability for the long term information Services strategy that supports and enables effective business operations and optimises the achievement of the company strategic objectives in compliance to regulations and optimal ICT ROI with leading innovative best practice.
  • Lead, assume accountability, direct and monitor the financial business risk management process and facilitate the development of strategies to ensure both national as well as global financial risks are mitigated.
  • Lead and drive HSE and ISO compliance by ensuring that systems and processes are in place for no contaminations and suppliers are audited for compliance to ensure quality of product and all compliance requirements met in the achievement of strategic objectives.
  • Promote the building of a new corporate identity, grounded on the integration of diverse cultures and achievement of BBBEE, EE and CSDP targets to ensure the company transformation.

Financial 

  • Lead, assume accountability, evaluate and approve the annual operating and capital budget for the Division and Enterprise to ensure expenditure is within approved budgets and the achievement of bottom line results through driving a culture of economic efficiency through the implementation of productivity / quality metrics and incentive programs designed to minimize costs, enhance efficiency, improve profitability and ensure growth and sustainability.
  • Manage liquidity and solvency by establishing funding requirements over the short term, medium term and long term. Develop funding and working capital strategies, establish target gearing ratio and liquidity target and divestment strategies.

Customer Service 

  • Build relationships and confer with other executives and professional staff to resolve operating problems and difficulties and authorise operational actions, procedures and policies within the corporate framework to develop and implement an aligned and integrated Strategy which supports the achievement of the business objectives and achieves the Divisional SLA with the business
  • Lead and execute the building of strategic relationships with government, parliament, business, local communities and international markets to promote and market the organisation for funding, selling of products and acquiring assets and raw materials to ensure the company objectives are achieved. Management of key stakeholders including maintenance of sound rapport with the Board Audit Committee.

Learning & Growth 

  • Lead people management by providing advice, guidance, direction and mentorship to HOD’s/ managers in terms of their performance, development and growth plans to ensure good performance delivery, retention, leadership pipeline, succession plans and lead and evaluate divisional staff performance management, succession plans, retention, development of all staff and the implementation of a learning culture to ensure a productive and competent work force
  • Manage the development and implementation of a personal learning and growth plan, which includes submitting a research paper or conducting a presentation to ensure ongoing learning and development.

Requirements: Qualification and Skill

  • BBBEE Codes; Labour Relations Act; Employment Equity Act; Basic Conditions of Employment Act;
  • South African Legislation relating to SHEQ (e.g. Mine Health and Safety Act and Occupational Health and Safety Act etc.)
  • Relevant policies, procedures and practices
  • Tax legislation
  • Procurement methodology
  • Information technology framework
  • International Financial Report Standards (IFTS)
  • Generally Accepted Accounting Principles (GAAP)
  • Companies Act
  • Public Finance Management Act (PMFA)
  • Preferential Procurement Framework
  • King Report as amended from time to me
  • Petrochemical industry
  • Minerals and Petroleum Resources Development Acts
  • The group’s policies, procedures and practices
  • Trends, best practices, and policies affecting the industry and business
  • Oil and Gas industry

Organisational Core Competencies 

  • Stewardship, Honesty, Integrity, Respect, Transparency

Managerial / Leadership Competencies

  • Gaining commitment, Strategic thinking, Strategic decision making, People management
  • Mentorship, Leading through vision & values, Building strategic working relationships
  • Building strategic networks, Building a strategic team, Planning and organising, Coaching, Budgeting, Influencing

Functional / Technical Competencies

  • Government relations management, Risk and issues management, Financial Operations
  • Financial Analysis, Financial Planning, Supply Chain management, Information Technology
  • Mergers and acquisitions, Insurance, Hedging strategies
  • Financial systems, Capital structures and management, Accounting, Direct and Indirect Tax
  • South African reserve bank regulations, Public finance Management Act (PFMA)
  • Contract management, Contract Negotiation, Business Acumen
  • Conflict management, Stakeholder management, Written communication, Verbal communication
  • Diplomatic relationship management, Public speaking, Press management, Formal presentation
  • Report writing, Cost management, Facilitation, Computer literacy, Excel

Behavioural Competencies

  • Analytical ability, Problem solving, Adaptability, Interpersonal, Confidentiality, Stress tolerance
  • Drive, Innovation, Resilience/Endurance, Even tempered, Assertiveness, Decisiveness
  • Diplomacy, Initiating action, Pragmatic, Judgement

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Feature image credit: Wikimedia

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