Chief Financial Officer at Discovery Limited

Areas of responsibility may include but not limited to:

Financial Management & Reporting

• Provide oversight on Accounting and Tax technical issues.
• Oversee the production of the monthly and annual management accounts for the Vitality division
• Oversee the preparation of the Division’s Annual Financial Statements and sign off
• Monthly detailed variance analysis on all revenue lines, benefit costs as well as operating costs
• Trend analysis on benefit utilisation and take up across various member cohorts
• Present monthly financials and dashboards to Vitality Exco and Vitality Board
• Divisional representative on the Group Audit Committee
• Co-ordinate and sign off on Internal & External audits for the division

Budgeting & Forecasting

• Responsibility of the Division’s annual budgeting process, working closely with the Actuarial team to project all revenue streams, benefits take up, operating costs, headcount etc
• Monthly monitoring of variances and producing monthly revised forecasts for Group Finance
• Responsibility for co-ordination and setting of the Division’s bi-annual KPI’s and tracking against actual performance, and reporting to Vitality Exco and Board
• Signing off on cash flow projections and input into group capital plan
• Signing off all Capital/Software development expenditure plans and presenting to group capex committee

Commercial/Legal

• Responsibility for commercial negotiations and contracting for all Vitality & Bank Rewards partners spanning across Wellness, Travel and Retail industries
• Responsibility for the Commercial Department that manages these partners and constantly reviews the commercial arrangements to ensure relevance and commercial optimisation
• Maintaining strong relationships with the key partners and dealing with escalations
• Responsibility for the legal team that is responsible for:
• Drafting and custody of all commercial contracts
• Handling all legal and Compliance issues pertaining to the division.
• Sign off on product terms and conditions
• Custodian of Vitality programme rules and ensuring they are relevant and up to date across all products
• Addressing member complaints and potential breaches

Finance Operations

• Oversee the Creditors department that reconciles and manages all payments of member subsidies and benefits to Vitality Partners.
• Oversee the payments of all subsidies to members in the form of boosters and general cashbacks on a monthly basis
• Manage the Revenue team that is responsible for member billing, business support & credit control on various benefits with member co-payments

Payment Operations

• Oversee the Payment team that is responsible for Miles payments and Cashbacks.

Data Operations

• Oversight over the Data Operations team responsible for communication files between Vitality and our partner network regarding:
• Benefit reconciliations with partners to ensure databases are in synch and up to date
• Benefit activations, upgrades, reinstatements, cancellations
• Points allocation to members for fitness activities and wellness assessments  

Competencies

• Economic market awareness (locally & internationally)
• Legal and commercial knowledge and astuteness
• Excellent negotiation skills
• Strategic mindset
• Analytical/Business Intelligence aptitude
• Risk assessment skills
• Innovation and financial management
• Strong leadership and interpersonal skills
• Communication and cross company collaboration

Qualifications and Experience

• CFO/Financial Director experience
• Degree plus recognised professional accounting qualification CA(SA) or CMA
• 10+ Years post qualification experience
• Commercial exposure and experience in contract negotiation and relationship management
• Experience in managing multidisciplinary teams