Chief Financial Officer

Role purpose

The CFO is responsible for the strategic financial management of FoodBev SETA, ensuring sound financial planning, management, and reporting to support the organization’s objectives. The role involves managing financial risks, optimizing financial performance, and contributing to strategic decision-making processes. The CFO will ensure compliance with financial regulations and standards while maintaining the financial health and integrity of the organization.

Specific duties:

Strategic Planning and Execution

• Develop and implement financial strategies aligned with organizational goals.
• Participate in strategic planning and policy development.
• Analyse and forecast economic trends to inform strategic decisions.

Financial Management

• Oversee all financial operations including accounting, financial reporting, budgeting, and auditing.
• Ensure effective internal controls and compliance with financial regulations.
• Manage relationships with financial institutions and stakeholders.

Financial Reporting and Budgeting

• Prepare and present accurate financial statements and reports to the CEO and Board.
• Ensure timely and accurate submission of statutory financial reports.
• Maintain transparency and accuracy in all financial disclosures.

Supply Chain and Asset Management

• Oversee procurement processes to ensure cost-effectiveness and efficiency.
• Develop and implement supply chain strategies.
• Manage vendor relationships and contract negotiations.
• Manage all procurement contracts.
• Manage and safeguard the organization’s assets.

Budgeting and Forecasting

• Lead the annual budgeting process, including forecasting and variance analysis.
• Lead mid-term review of budgets and submit all necessary reports to regulatory body.
• Monitor and report on budget performance.
• Develop financial models to support strategic initiatives.

Financial Monitoring & Evaluation

• Monitor financial performance against benchmarks and objectives.
• Conduct regular financial analysis and evaluations.
• Implement corrective actions as necessary.

Levies & Grants

• Ensure compliance with levy and grant payment processes.
• Oversee the distribution and management of grants.
• Maintain accurate records and reporting of levies and grants.

Reporting

• Prepare comprehensive financial reports for internal and external stakeholders.
• Ensure compliance with reporting standards and regulations.
• Communicate financial performance and insights to the Board and executive team.

Financial Risk Management

• Identify and mitigate financial risks.
• Develop and implement risk management policies.
• Conduct risk assessments and scenario planning.

Policies, Procedures and Systems

• Develop, implement, and update financial policies and procedures.
• Ensure alignment with best practices and regulatory requirements.
• Train staff on new policies and procedures.

Systems and Information Technology Management

• Oversee financial systems and IT infrastructure.
• Ensure data security and cyber security measures are in place.
• Implement AI and technology-driven solutions for financial management.

People / Staff Management

• Lead and develop the finance team.
• Foster a culture of continuous improvement and professional development.
• Manage performance, recruitment, and succession planning within the finance department.

Qualifying Criteria

• An Honors Degree or equivalent in Finance / Accounting or similar. NQF Level 8: Chartered Accountant (CA(SA)) or Certificate in Theory of Accounting (CTA) with articles or BCompt Honours or BAcc Honours with articles or equivalent qualification with articles and at least 5 years of experience as a CFO.
• 8-10 years of senior management experience in finance or accounting roles reporting to CFO or at least 5 years of experience as a CFO.
• Driver’s License.
• Registration with a professional accounting professional body will be an added advantage.
• Computer Literacy: Working knowledge of MS Office Suite; Internet and any other applications required to perform duties.