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We are hiring: Chief Financial Officer

JET Education Services seeks to appoint a Chief Financial Officer

The Chief Financial Officer (CFO) is responsible for financial leadership of the organisation. The CFO will develop business strategies and monitor and analyse innovations to improve the business processes and to optimise income margins. The CFO provides, maintains and attends to all financial matters, i.e. finance management and planning, provide analysis and forecasting for the organisation and its funders/partners, manage the finance unit and ensure compliance and implementation of all financial regulations, including the management of the annual and specific audit requirements. The successful candidate will report to the Chief Executive Officer (CEO), and work closely with the Chief Operating Officer and Executive Managers.

The main tasks include:
● Develop and drive the financial strategies aligned to the organisation’s strategic plans, and to ensure sustainability as a NPO
● Determining and setting budget forecasts
● Efficiently managing the funds of the company, projects and funders with full compliance
● Responsible for the management accounting controls and processes for optimal fiduciary compliance
● Monitoring and reporting on the performance of the organisation and projects on a monthly/quarterly basis
● Manage the legal and taxation aspects of the company
● Is responsible for all financial reports to the Board minutes and and its committees
● Is responsible for the external annual audit, procurement in the company, asset management, all financial system updates, and the training and development of staff in the financial unit

Job specification:
● A relevant post-graduate degree: Masters in Commerce, Masters in Business Administration (MBA) or equivalent
● A relevant professional designation
● Relevant prior learning may be considered
● Minimum 10 years’ experience at a Senior Financial Management or CFO level
● Three years’ experience at Senior Management level
● Computer literacy
● Management and people skills
● Effective interpersonal and communication skills
● Knowledge of accounting packages and systems, including experience in cloud-based accounting (Sage 300 Cloud is preferable)
● Good interpersonal skills, emotional intelligence, act as a trusted source as part of executive management, good business acumen

KEY PERFORMANCE AREAS

1) Maintain and improve JET’s Accounting Systems
● Responsible for the management accounting controls required to monitor progress against company targets and take expedient and effective action to respond to changing conditions
● Maintain and establish a separate chart of accounts for the company and all projects where appropriate
● Responsibility for setting up and developing financial systems
● Ensure that a monthly reconciliation of all accounts is completed
● Ensure that all invoices are sent out to the clients with the appropriate audit trails
● Responsible for managing the debtor’s book and following up on all unpaid invoices
● Prepares cash statements, cash budgets and forecasts

2) Liaise with JET Divisions to ensure smooth operations of the financial processes within JET
● Prepares consolidated monthly accounts including income statement and balance sheet covering a number of projects
● Has a regular meeting with executive managers of the divisions
● Trains executive managers and project managers on financial matters where appropriate

3) Reporting
● Reports to Board, Finance and Audit Committee, and the JET Management Committee (JMC) on financial matters affecting the company, setting goals, managing funds efficiently and providing budgetary forecasts
● Reviews monthly management accounts
● Compiles statutory reporting for the entire organisation
● Monitors and reports on actual performance of divisions and projects against the business plan
● Manages international donor funds and write reports to donors on the disbursement thereof where appropriate
● Provides input to the JET annual report

4) Project Budgeting
● Develops project budgets based on provided terms of references (ToRs) and requests for proposals (RFPs) in consultation with the client relationship manager (CRM), and the relevant JET staff
● Reviews project budgets and provides reports to project managers
● Guides and oversees project reporting to funders and clients

5) Organisational Budget
● Develops and consolidates organisational budget in accordance with financial policies and procedures
● Oversees the regular updating and alignment of charge-out rates for expert staff
● Controls expenditure related to the budget, i.e., ensures that the appropriate financial resources are available for the expenditure
● Manages and consolidates the budgetary process and compiles the organisational budget based on organisational requirements
● Reports on expenditure in accordance with the financial calendar

6) Internal Control and Risk Management
● Develops policies and procedures related to organisational risks
● Identifies and reports on all financial risks and exposure to financial risks
● Ensures compliance to legislative and regulatory requirements: Companies Act, SARS, organisational solvency and overall regulatory compliance

7) Cash Resource Management
● Conduct financial forecasting to ensure that the required cash resources are planned
● Develops financial forecasts for the organisation
● Consistently ensures sufficiency of cash resources in accordance with organisational needs
● Daily ensures that the cash resources are available to cover expenditure and ensures that cash resources are acquired when necessary
● Controls the flow of cash – receipts and expenditure
● Manages the process for investments of surplus funds

8) Procurement Management
● Develops and implements the Procurement Policies and Procedures
● Ensures that all procurement is conducted in accordance with the policies and procedures
● Ensures that the tender process is followed for procurement of goods based on limits set in policies and procedures
● Ensures that the asset register is maintained and updated as required
● Manages the retirement of obsolete assets in accordance with policies and procedures
● Negotiates lease agreements for the company

9) Line Management of Staff
● Ensures that each staff member within the unit has a reasonable workload
● Monitors staff performance regularly
● Puts remedial steps and development plans in place where appropriate
● Records the above within JET’s performance management system
● Manages development of staff in accordance with Personal Development Plans

10) Other Tasks
● Assists in preparation of business plans
● Completes the tax returns of the company

All shortlisted candidates will be subjected to independent relevant reference checks.

Salary CTC: R1 400 000.00 - R 1 500 000.00

Applications must be done online via this form: https://forms.gle/MtN557qwKaan6nsQ8 no later than 15th April 2022, 23h00. Late applications will not be considered.

A culture fit interview will precede the formal interview process, which may also include a competency assessment.

 
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