Chief Financial Officer (CFO)

PURPOSE OF JOB

• To provide overall leadership, integration, and coordination of financial and supply chain management services to NEMISA in support of efficient financial, institutional, and administrative processes, while promoting good governance and sound financial and supply chain business principles.

JOB OBJECTIVES: Strategic Planning and Operational Management

• Provide leadership and advice in the finance division, provide institution-wide finance advice, and add value to the Institute.
• Overall control and management of the Finance Division and the finance function across the Institute.
• Develop, manage, and execute the Institute's Finance and Supply Chain
• Management strategy, and provide input into the strategic direction of the Institute.
• Provide leadership and input for strategic and annual planning processes relating.
• Oversee all Finance and Supply Chain Management initiatives across the Institute to ensure that their conception and implementation support the Institute's strategic objectives.
• Collaborate with the Chief Executive Officer to develop and recommend to the Board an annual operating plan and financial budget that support the Institute's annual and long-term strategy.
• Facilitate the continual improvement in the financial viability of the Institute by providing appropriate strategic and operational advice on investments, income generation, and management of financial resources.
• Develop and ensure the implementation of appropriate policies, business processes, and standard operating procedures for the unit.
• Ensure that the finance division is adequately resourced and staffed with competent employees.
• Assess, create, and implement streamlined solutions to support operational effectiveness and provide timely and accurate reporting.
• Overseeing the operations of NEMISA in the absence of the Chief Executive Officer, as delegated from time to time.
• Develop financial performance measures and monitoring systems that support the Institute's strategic direction.
• Ensure that the finance unit's operation of the Institute meets the expectations of its stakeholders, both internal and external.

Governance, Compliance and Risk Management

• Ensure that the Institute maintains full and proper records of its Finance and Supply
• Chain Management in accordance with accepted accounting and legislative standards and practices.
• Ensure the establishment of processes for ensuring compliance with the instructions of the National Treasury and other legal instructions and bodies.
• Ensure that all business units comply with relevant Finance and Supply Chain Management policies, processes, and systems.
• Ensure compliance to the financial management legislative framework Constitution, PFMA, Treasury Regulations etc..
• Undertake a risk assessment and implement and maintain an effective risk management strategy.
• Provide input to the Risk Management systems of the Institute, provide advice to EXCO and Board on risk management practices in relation to the finance and supply management functions.
• Facilitate external and internal audits.
• Engage with auditors and provide appropriate and timely responses to audit queries.
• Ensure the achievement of the set internal and external audit objectives for the Institute.
• Establish and maintain an appropriate system of internal control and risk management.
• Ensure that there is segregation of duties to reduce the risks in the Institute.
• Evaluate the adequacy and effectiveness of internal controls, governance and risk management of business processes.
• Ensure appropriate risk and insurance cover for the Institute.
• Identify, assess, and inform the Chief Executive Officer and the Board of internal and external financial and procurement issues that affect the Institute.
• Implement internal control mechanisms and anti-corruption measures.

Financial Management

• Establish and maintain financial management systems and processes.
• Ensure efficient and transparent financial management of the Institute.
• Ensure compliance with GRAP regarding the recording of financial transactions and preparation of annual financial statements.
• Monitor the operation of accounting systems, controls, and procedures to ensure the integrity of the financial information.
• Ensure that the Institute's annual budgets, corporate plans, and audited financial statements are prepared and submitted in accordance with the PFMA.
• Ensure implementation of audit recommendations and resolve audit queries.
• Ensure that full and proper books of accounts and records are effectively maintained, which provide comprehensive assurance of the integrity and validity of financial information.
• Review and facilitate the finalisation of Annual Financial Statements.
• Advising EXCO on budgeting, accounting, analysis, financial reporting, cash management, debt management and other duties as delegated by the Chief Executive Officer from time to time.
• Oversee the management of the Institute's bank accounts and related instruments.
• Oversee debt collection initiatives in order to ensure that all income due is collected timeously.
• Develop and oversee implementation of financial management policies and procedures.
• Manage the acquisition of assets and resource requirements as required.
• Ensure that asset registers are updated timeously and reconciled with physical asset counts at regular intervals.
• Ensure that assets are adequately insured.
• Utilise a financial management system to capture accounting transactions, control the general ledger, perform financial administration, and prepare financial reports.
• Utilise a payroll management system that effectively manages human resource information, administers the payroll, and reports in compliance with legislative requirements.
• Utilise a management information system for monitoring and reporting of revenue, expenditure, assets, and liabilities.
• Ensure the monitoring and control of expenditure of the unit in line with the budget.
• Oversee the timely and accurate development of budgets and financial reports that will assist the Board, Chief Executive Officer, and EXCO in making informed strategy and resource allocations.
• Lead the process of generating income for the Institute and be the custodian of the Resource Mobilisation Strategy.

Budget Management

• Oversee the Institute's budget preparation process, provide advice and support to stakeholders, and review the budget before submission to the relevant authority.
• Conduct budget meetings with EXCO to discuss and finalise the budget.
• Ensure that internal financial targets and budgets are fully consistent with the strategic plan and relevant agreements with the relevant authority.
• Ensure that the budget proposal accurately reflects the Institute's strategic and operational priorities.
• Ensure that budget proposals have been thoroughly reviewed in respect of the accuracy, reasonableness, and spending capacity.
• Ensure that budget proposals are correctly formatted in compliance with budget submission guidelines and statutory requirements and that they provide an accurate and appropriate breakdown of budget estimates across the Institute's programmes.
• Present the proposed annual budgets to the Board for approval before submission to the relevant authority.
• Advise the Institute's Divisions on the approved budget and programmes budgets.
• Oversee and manage the budget monitoring process, including the production of monthly and quarterly financial and performance reports, and provide recommendations and advice to address significant variances.

Expenditure Management

• Oversee and ensure the effective, efficient and economical use of financial resources.
• Develop internal controls and processes to manage the transfer of funds.
• Effective management of liabilities.

Ensure the development and implementation of internal controls for expenditure management to ensure:

• transactions are executed in accordance