Job Description
The Executive Finance RMA will be responsible for overseeing the financial reporting and operational finance
aspects of the RMA Business , this will involve oversight of the internal and external reporting processes and
undertaking business insights analysis that is required for IAH. The incumbent will also be responsible for
delivering on finance change initiatives and a best-in-class Finance division that will provide timely and
intelligent insights and transactional support to help make RMA a Business of Significance.
WHAT WILL YOU DO?
Financial Reporting
Manage the reporting department to ensure sound financial control, adherence to policies, secure and
accurate financial reporting
Provide financial reports and interpreting financial information to managerial staff while recommending
further courses of action
Provide risk management with inputs for qualitative regulatory returns; Continuous process improvement
Address queries regarding IFRS accounting treatment
Review Internal Processes and ensure adequate system of Internal Control
Review the Group annual financial statements ensuring compliance with latest standards
Success Measure
- AFS
- Monthly management accounts
- Clean control environment
Financial Analysis
Compile key business metrics and report on them to management
Maintain the overall financial health of the organisation by monitoring and evaluating the profitability
Review the performance of competitors and report on key financial benchmarking analyses
Interpret the company's financial results to management and recommend improvement activities
Create additional analyses and reports as requested by management
Develop trends and projections for the companies finances
Review all WIP variances and where necessary revise standard or average costs as necessary.
Produce key financial ratios for the Group as well as statistical information
Analyse costs, pricing, variable contributions, sales results and the company’s actual performance
compared to the business plans
Success Measure
- Monthly finance EXCO reports
- Analyses reports
- Budget
- Budgeting and Business Planning
Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
Manage the preparation of the company’s budget
Ensure information is collated for budget planning process
Review and monitor cost data accumulation within the business and to ensure that the Ability accounting system is aligned to provide an appropriate level of costing information to management
Management the process of collation of strategic projects and their impact on the budget
Assist the business in managing capacity requirements and the impact on the budget
Success Measure
- Approved budget and forecasts
- Input on the strategy
Management Of Costs And Analyses
Participate in target costing activities to create products that meeting predetermined price goals
Engage in benchmarking studies to establish areas of potential operational improvement In collaboration with the Actuarial team, assist in the determination of product pricing in relation to features offered and competitor pricing
Review cost model and ensure correct % and products used and taken into account for shared services, between the different entities
Review the analysis of different cost drivers for the insurance business and administration expenses and sign off reports and recommendations
Success Measure
- Approved budget and forecasts
- Input on the strategy
Oversee Efficient Financial Operations Areas
Ensure adequate internal process to ensure efficient transactional operations
Develop adequate KPI’s to monitor appropriate delivery and ensure compliance to legislative requirements for procurement, COIDA ACT membership collection
Premium collections and retentions targets maintained
Success Measure
- Clean control environment
- Achievement of growth targets
Provide Financial Expertise In The Identification Of New Business/Investment Opportunities
As and when required, report on investment opportunities, analyse feasibility of opportunities and provide recommendations to management on profitability of new investment opportunities.
Collect and analyse data of present and past investments and operations, trends and costs, estimated and realised revenues, administrative commitments etc.
Develop and use high quality financial modelling to assess and predict outcomes, financial risks and returns of investment decisions
Provide expertise by conducting feasibility studies for business expansion and new business acquisitions
Conduct valuations for Mergers & Acquisitions (M&A) if and when required in conjunction with the Corporate Finance Specialist
Prepare and present proposals/business cases, pitches and/or formal presentations to senior management on investment/ capital allocation opportunities
Partner with the Corporate Finance Specialist to provide investment advice and recommendations to the Executive Committee, Shareholders and Board on how to meet targets, use and allocate excess capital (including but not limited to merger and acquisition initiatives, potential opportunities, and financial due diligence)
Develop and use high quality financial modelling to assess and predict outcomes, financial risks and returns of investment decisions
Provide expertise by conducting feasibility studies for business expansion and new business acquisitions
Conduct valuations for Mergers & Acquisitions (M&A) if and when required in conjunction with the Corporate Finance Specialist
Prepare and present proposals/business cases, pitches and/or formal presentations to senior management on investment/ capital allocation opportunities
Partner with the Corporate Finance Specialist to provide investment advice and recommendations to the Executive Committee, Shareholders and Board on how to meet targets, use and allocate excess capital (including but not limited to merger and acquisition initiatives, potential opportunities, and financial due diligence)
Provide input into commercial partner agreements by structuring the financial aspects thereof Negotiate and structure financial details
Partner with the Corporate Finance Specialist in advising on investment activities and provide strategies that the company should take
Success Measure
- Business Cases to the Audit Comm and EXCO
- Acquisition valuations
- Partnerships and new product pricing
Staff Management and Leadership
Oversee operations of the finance department, set goals and objectives, and design a framework for these to be met
Provide leadership and guidance to the finance team to provide efficient customer service to internal and external users of financial information
Success Measure
Achievements of set targets and objectives
Legal and Compliance
Liaise with auditors to ensure appropriate monitoring of company finances is maintained
Identify risks that could have financial implications for the company and provide business advise at all levels of the company
Ensure ongoing compliance to all relevant legislation and statutory requirements
Success Measure
- Clean audit reports
- Compliance
Ad Hoc Projects
Assist and provide related finance reporting support for any ad hoc projects as and when required
WHAT YOU'LL BRING TO THE TABLE?
Undergraduate Degree / Honours Tertiary Degree NQF BCom with Articles
Level 7: BCom with Articles CA (SA)
Minimum Experience: 10 years post qualification experience, of which at least 5 years in a Senior Managerial level, commercial awareness & strong analytical skills, experience in a Regulated Financial Services firm
Preference will be given to candidate with experience in the life insurance space.
Proven track record in strategic financial planning, risk management, and regulatory compliance.
WHAT WILL YOU GET IN RETURN?
We offer great opportunities for personal and professional development in a stable company that’s 132 years strong. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in the office). Furthermore, you will be a part of a dedicated group of colleagues who value teamwork and collaboration.
Turnaround time
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Kindly note that should you not receive a response within 21 days please consider your application unsuccessful.
Job Requirements
Undergraduate Degree / Honours Tertiary Degree NQF BCom with Articles
Level 7: BCom with Articles CA (SA)
Minimum Experience: 10 years post qualification experience, of which at least 5 years in a Senior Managerial level, commercial awareness & strong analytical skills, experience in a Regulated Financial Services firm
Preference will be given to candidate with experience in the life insurance space.
Proven track record in strategic financial planning, risk management, and regulatory compliance.