Closing Date 2023/05/12
Reference Number DBS230419-1
Job Title Chief Financial Officer [Midrand]
Job Grade 23
Job Type Classification Permanent
Location - Town / City Midrand
Location - Province Gauteng
Location - Country South Africa
JOB DESCRIPTION
1. The CFO reports to the CEO & MD and is an Executive Director of the Bank.
2. The CFO is responsible for the financial strategy of the Bank as well as associated plans, activities and monitoring. These include budgeting and forecasting, reporting and recommendations to the management, Executive Committee (Exco) and Board regarding the financial implications of all core and non-core activities. Additionally, the CFO partners with and supports the Executive Committee in respect of the front, middle and back-offices’ financial activities.
3. The CFO is also responsible for improving the financial performance of the Bank, in compliance with IFRS, Public Finance Management Act (PFMA) and the Companies Act, amongst others.
4. The CFO’s portfolio also includes the following functions of the Bank: Information, Communication & Technology (ICT) and Supply Chain Management (SCM), which may be adapted as per the current and future strategies of the Bank.
KEY RESPONSIBILITIES
Finance Strategy Formulation
1. Develop medium to long term (5-10 years) financial strategies, plans and activities in line with the key strategic imperatives of the Bank. These include Environment, Social and Governance (ESG), Just Transition and Future Fit DBSA (Digitalisation, Structural Optimisation and Operational Efficiency), as approved by the Board.
2. In partnership with the responsible executives, the CFO must develop and implement the corporate fundraising strategy, as well as manage relationships with partners and investors.
3. Monitor the DBSA’s financial sustainability and credit worthiness, through effective asset and liability management to ensure competitive borrowing rates and conditions.
4. Provide strategic financial management and leadership support across the business, in line with the overall DBSA strategy
Financial Planning, Reporting and Governance
1. Lead financial planning across the Bank in support of the infrastructure growth and development opportunities of the region, including financial modelling, scenario planning and forecasting.
2. Develop and use financial models and activity-based financial analysis to provide a basis for investment decisions and business planning.
3. Initiate and co-ordinate the formulation of business plans and annual budgets and monitor progress towards their achievement.
4. Oversee the preparation and submission of the annual and interim financial reports and statements in accordance with the accounting standards and reporting framework.
5. Prepare and provide reports as well as recommendations to management, the Exco as well as Board Sub-Committees for prudent decision making.
6. Monitor that effective internal controls are in place and ensure compliance with IFRS, Public Finance Management Act (PFMA), the Companies Act and other applicable codes and protocols of good practice in all Divisions’ operations.
7. Oversee the development, improvement and implementation of financial, technological and procurement policies, in line with best practices, legislation and other regulatory requirements.
8. Consult with internal and external auditors and ensure favourable audits outcomes.
Information, Communication and Technology (ICT)
1. Oversee the management of the ICT function, ensuring availability as well as improvements according to best practices.
2. Transform the Bank into a digital enabled business in line with the Digitalisation strategy of the Bank.
3. Strengthen information security and ensure correct application of resources in mitigation of cyber security risks.
Supply Chain Management (SCM)
1. Oversee the management of the SCM, ensuring effectiveness (e.g., reduced bureaucracy and quick turnaround) and efficiencies (e.g., reduced cost of procurement vis a vis programmes etc) as well as improvements according to best practices.
2. Expedite the digitalisation of SCM processes to improve decision-making in the front office divisions (e.g., evaluation of small loans), middle office divisions (e.g., systematised management of similar programmes, facilitation of audit processes) and back-office divisions (e.g., procurement of consulting and training services).
3. Transform the Supply Chain Management processes of the Bank, in line with the applicable laws (e.g., PFMA) and best practices.
Stakeholder & External Relations
1. Manage complex stakeholder relations and maintain effective relationships with National Treasury, the Auditor General, the Board, the Executive Committee and employees of the Bank.
2. Develop and grow relationships with clients to increase the Bank’s reach, influence and impact in infrastructure implementation within the country and in the SADC region.
3. Maintain relations with donors, funders and other partners, inclusive of national and international Development Finance Institutions (DFI’s).
People Management
1. Provide direction and management to the Division, to enable the strategy execution
2. Attract, retain, and develop talent and ensure succession planning and sufficient capacity and capability in all critical functions, supporting diversity strategies and initiatives as well
3. Promote DBSA values and a culture of high performance through implementing performance management in line with the planned strategic objectives, goals, quality standards and agreed key performance measures using sound performance management principles.
Key Measurements of Outputs
1. Development and implementation of financial strategies and plans associated with the key imperatives of the DBSA as approved by the Board.
2. Prudent financial management associated with the following:
1) Balance Sheet and development impact growth underpinned by disbursements, project preparation, infrastructure delivery and planning.
2) Financial sustainability through profitability, client, product and portfolio diversification and innovation.
3) The maintenance and improvement of the sustainability of the loan book in line with defined policies.
4) Acceptable working capital management.
3. Operational efficiency key performance indicators (KPI’s) targeted at the management of all resources, inclusive of:
1) Effective performance management of direct reports
2) Effective utilisation of capacity by re-organising resources to maximise efficiency
3) Strong culture of performance and delivery in the Division
4. Good governance and ethical behaviour.
5. Unqualified audit opinion
Key External Liaison Relationships
*The list is not exhaustive
1. DBSA Board
2. DBSA Board Committees
3. Executive Committee
4. Management & Employees
Key Internal Liaison Relationships
*The list is not exhaustive
1. Parliament
2. National & Provincial Governments
3. National Treasury
4. Auditor General
5. International & African Clients, Development Finance Institutions (DFI’s), Donor Agencies, Funders and Other Role Players
6. State-Owned Enterprises (SOE’s), Metropolitans and Municipalities.
7. Private Sector
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EXPERTISE & TECHNICAL COMPETENCIES
MINIMUM REQUIREMENTS
1. Qualified CA (SA) with strong technical expertise including financial modelling, margin management and capital structuring.
2. A minimum of 12 - 15 years’ relevant experience in a medium to large enterprise in either banking and/or Development Finance Institutions and/or finance.
3. The required experience must include 5 years as the CFO of a medium-size enterprise or 5 years as a Division or other Executive of a large-size enterprise (e.g., Group Executive).
4. A strong career record of achievement in the medium/large enterprise, the size of which is equal to or greater than R 10 billion disbursements/revenue with a financial asset base equal to or greater than R100 billion.
5. Demonstrated success in interpreting corporate vision and strategy and aligning with financial strategy.
6. Proven record in problem solving and making sound financial business decisions.
7. Well-developed financial and quantitative competencies, with deep understanding of debt capital and financial markets
8. An above-average understanding of banking and associated risk management and mitigation frameworks, strategies and practices.
9. Demonstrated leadership competencies and the required emotional intelligence, ethics, to lead within and outside of the Bank.
10. Evidence of and demonstrated ability of having managed a large cross-functional team of managers as well as collaborating with the Executive Committee (Exco) and Board.
11. Understanding of as well as a commitment to good corporate governance, inclusive of international reporting standards such as IFRS, Basel, GAMAP, GAAP and other regulatory requirements, inclusive of PFMA.
12. Strong negotiation, project management, analytical, decision making and people skills dealing with diverse stakeholders.
13. A clear, confident communication ability and style that can influence, motivate and inspire investors, funders and shareholders.
14. Understanding of economic development as well as the policy environment of RSA.
Desirable Requirements
1. Post graduate qualification in Business or Development Finance.
2. The ability to manage large infrastructure and CAPEX projects with good understanding of debt markets, debt sourcing and debt structures.
3. Passion for development finance coupled with commercial acumen.
Technical Competencies
1. Business Acumen
2. Strategic Planning
3. Financial Acumen
4. PresentationSkills
REQUIRED PERSONAL ATTRIBUTES
Leadership Competencies
1. Leading & Empowering Others
2. Leading & Managing Change
3. Strategic & Innovative Thinking
4. Teamwork & Cooperation
5. Developing Others
6. Driving delivery of results
7. Decisiveness
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