Chief Financial Officer (3 year Fixed Term Contract)
Listing reference: petro_000003
Listing status: Closed
Apply by: 20 October 2021
Position Summary
Industry: Chemical, Petrochemical, Oil & Gas
Job category: Other: Chemical, Petrochemical, Oil and Gas
Location: South Africa
Contract: Fixed Term Contract
Remuneration: Market related
EE position: Yes
Job Description
- 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 PetroSA 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 PetroSA 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 PetroSA’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 PetroSA to ensure that Enterprise assets are covered at replacement cost and loss of profits are covered at actual losses
- Lead, direct and assume accountability for hedging strategies to ensure price risk exposures are mitigated in compliance with Finance expectations through policy and legislation
- Lead, assume accountability and direct the development and evaluation of the insurance strategy to address conducting of 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 the correct values
- Lead, assume accountability and direct the development and execution of the enterprise wide finance strategies including financial reporting for the PetroSA Group, provide the consolidated financial consequences of the enterprise strategy and facilitate the preparation and implementation of a financial reporting functional strategy aligned to IFRS 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 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 procurement regulations and best practice to ensure an efficient supply chain process, with minimum risk in compliance with PetroSA procurement policies and procedures and governance
- Lead, direct and assume accountability for the long information Services strategy that supports and enables effective business operations and optimises the achievement of PetroSA’s strategic objectives in compliance to regulations and optimal ICT ROI
- 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 PetroSA’s transformation
- 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
- 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 PetroSA objectives are achieved. Management of key stakeholders including maintenance of sound rapport with the Board Audit Committee
- 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
Location: the successful candidate would be based in either our Cape Town, Mossel Bay or Sandton offices.
NB: As part of our recruitment process, candidates will be required to undergo Vetting/Security clearance.
Please note: PetroSA is committed to Equality, Employment Equity, and Diversity regarding employment opportunities. In accordance with our Employment Equity Plan, preference may be given, but not limited to candidates from under-represented designated groups. PetroSA reserves the right not to make an appointment to posts as advertised. PetroSA encourages candidates living with disabilities to apply for positions.
Minimum Requirements
Minimum Qualifications:
- Chartered Accountant registered with SAICA
- An accredited MBA/MBL or equivalent qualification would be advantageous
Minimum Experience:
- 10 – 15 years’ senior financial experience in a corporate environment, specifically interfacing between the GCEO and Board
- Experience in the Energy industry will be an added advantage