Chief Financial Officer at Construction Education & Training Authority (CETA)

Purpose of this Executive Role:

To effectively implement and oversee the financial, accounting and reporting, facilities management and procurement processes of the CETA in alignment with CETA strategic objectives and operational plans and policies.  The role of the CFO is to also advise the CETA CEO, Executive Management and the Accounting Authority on and ensures the implementation of and compliance with best practices regarding financial management and control, strategic and regular reporting that is credible in line with applicable accounting framework and the PFMA. The CFO will be expected to ensure effective internal controls, financial risk management, financial sustainability and compliance with the key and relevant laws and regulations is achieved by the CETA; and establish and enforce a culture of high performance in Finance Division in enhancing stakeholder service and value adding service to the entity. This responsibility will ensure that the CETA ultimately achieves the clean administration and clean audit outcome whilst enhancing its reputational image with satisfied stakeholders, thereby realising its mandate and objectives.

Responsibilities:

• Develop Finance strategy that entails developing detailed action plans to realise CETA strategic initiatives and define performance measures the success thereof.
• Develop and implement systems, procedures and processes that will results in the improvement of the CETA financial position and sustainability.
• Oversee the implementation of and adherence to financial management policies and procedures of the CETA.
• Oversee organisational expenditure and financial controls against the approved budget thresholds and compliance; including developing actions/ corrective measures to align the budget to available financial resources.
• Monitor legislative and regulatory developments and ensure total compliance with relevant laws, policies and regulations applicable to the CETA.
• Develop and monitor the implementation of an effective financial management strategy for the CETA
• Compile monthly and quarterly financial management accounts and reports.
• Compile quarterly, interim and annual Financial Statements that are GRAP and PFMA compliant.
• Ensure proper cash flow management and all reporting in line with applicable Treasury guidelines.
• Direct and optimise the CETA investment activities and portfolio returns.
• Oversee the accounting, finance and related reporting function and responsibilities.
• Manage audit-related matters, including the development and monitoring and reporting progress against Action Plan to address the AG’s audit findings.
• Identify and manage all financial, investments and associated risks.
• Ensure adequate financial control and systems for the accountable delegation of financial powers, asset management, monitoring and evaluation, early warning and corrective action.
• Develop and facilitate the implementation of a Supply Chain Management (SCM) system consistent with legislative and other good governance arrangements.
• Ensure all procurement and SCM activities are done on time and in compliance with regulatory requirements and are managed efficiently.
• Prepare and submit monthly and quarterly SCM and procurement related reports and registers to the CEO, Accounting Authority and the National Treasury and the DHET.
• Oversee facilities, registry and records management function and processes of the CETA in line with prescripts and best practices.
• Manage the CETA’s relationship with critical stakeholders on the financial management matters.
• Manage, develop and supervise the staff of the Finance Department; including their continuous learning and development for CETA finance to be an effective and efficient unit.
• Perform any other relevant duties as directed by the CEO.

Specific Deliverables Expected:

• Develop, manage and track cost centre budgets and report to affected executives timeously.
• Monthly management accounts and revenue improvement reports.
• Monthly and weekly cash flow projections and investment portfolio analysis.
• Update and tabling of Finance management policies and procedures for recommendation to the Accounting Authority by the CEO.
• Develop and implement service standards and the business unit scorecards in improvement CETA financial performance.
• Weekly processing and effecting of regular supplier and stakeholders’ payments.

Requirements

Desired Skills, Experience and Competencies:

• A recognised Bachelor’s Degree in Finance / Accounting and a post graduate qualification in the related fields like the CTA (Certificate of Theory in Accounting), these being a Finance and Accounting qualification at NQF level 8.
• Completed articles and a Chartered Accountant certification with institutes like SAICA or another equivalent  internationally recognised accountancy institute, is a prerequisite.
• Master of Business Administration, M.Com or similar NQF 9 qualification will be an added advantage.
• Current and active membership and / or professional certification with a Chartered Accountancy is required for this role.
• A combined experience of not less than (minimum of) 8-10 years’ experience in financial management, reporting in a complex and highly regulated environment, with at least 5 must have been in a senior management role.
• Proven experience in leading and directing finance and accounting teams.
• Demonstrated experience in reporting to executives and boards on governance, risk, compliance and control matters; and in key finance and investments business processes.
• Knowledge of higher education sector, the SDA, SDLA and the PFMA are essential.
• Understanding of the Treasury Regulations, Preferential Procurement Policy Framework Act of 2017 and the BBBEE Act.
• Computer literacy: Advanced Excel and Data Analytical skills are required.

The following Attributes are necessary to succeed in this Acting role:

• Self-discipline and motivated team player.
• Ethical consciousness and conduct in all dealings with the matters of CETA.
• Emotionally intelligent and communicates well across all levels.
• Financially savvy, legal and commercially minded.
• Value-adding advisor to the processes of the organisation.
• Proactive and loyal to the organisation.
• Independent, objective and impartial.
• Excellent and exceptional negotiation skills.