Chief Financial Officer

Postbank (Soc) Ltd; Pretoria; On-site; ZAR 1 200 000 - 1 800 000; Full time

Job summary

A leading financial institution in Pretoria is seeking a seasoned financial professional to lead their finance strategy. The role focuses on developing financial strategies, ensuring regulatory compliance, and providing senior management with strategic financial advice. The ideal candidate will possess an extensive background in financial services with thorough knowledge of banking practices and hold a Chartered Accountant designation. This full-time position is pivotal for driving the bank's financial performance.

Qualifications

• Must have at least 10 years of experience in the Financial Services industry.
• Thorough understanding of banking practices and risk management.
• Excellent knowledge of International Financial Reporting Standards.

Responsibilities

• Participate in the development of the bank's overall strategy.
• Oversee the preparation and submission of regulatory reports.
• Manage the budgeting and forecasting process for the entire bank.
• Ensure compliance with statutory and regulatory reporting requirements.
• Manage performance and career development of direct reports.

Skills

Financial analysis

Risk management

Strategic financial planning

Leadership

Communication

Education

Chartered Accountant, registered with SAICA

MBA / MBL / Master's degree in Finance or equivalent

Job description

Job Responsibilities

Strategic Alignment

• Fully participate in the development of the bank's overall strategy
• Develop and implement Finance capability strategy for the bank, ensuring alignment with the overall strategy
• Develop performance measures that support the company's strategic direction
• Develop credibility of the finance function by providing timely and accurate analyses of financial reports and financial information
• Lead and build a strong financial discipline and accountability foundation for budgeting and long‑term financial forecasts and financial plans
• Provide strategic financial advice and leadership to the bank in terms of the financial impact of strategic plans and programs, and decision‑making issues affecting the bank e.g. growth, new markets including cost benefit analysis
• Develop a financial analytics function for the bank, ensuring alignment with the bank's data and reporting requirements
• Develop and implement financial strategies aligned with the institution's goals
• Lead financial planning, capital management, and investment decisions
• Provide strategic guidance to senior management and the board
• Collaborate with IT and business stakeholders to ensure IT projects align with the institution's overall strategy and financial objectives
• Ensure project proposals include robust financial analysis, cost‑benefit assessments, and risk evaluations

Reporting

• Reporting to NT & DC must be as prescribed and complied with timeously
• Ensure the institution complies with reporting requirements set by the PA, including capital adequacy, liquidity, risk exposure, and other prudential metrics
• Oversee the preparation and submission of regulatory reports, such as :
• Liquidity reports (e.g., Liquidity Coverage Ratio - LCR, Net Stable Funding Ratio - NSFR)
• Compile and submit Risk management reports (e.g., credit risk, market risk, operational risk exposures)
• Compile and submit Financial statements and other prudential returns as required by the PA
• Implement robust processes to ensure data accuracy, completeness, and timeliness in regulatory reporting
• Conduct reviews and validations of reports before submission to the PA, ensuring alignment with regulatory guidelines and standards

Technology

• Understand digital trends and their impact on financial services
• Leverage technology for financial process improvements and data analytics
• Manage the Finance and Treasury function of the bank and related risk management, including ALM and ALCO
• Manage the budgeting and forecasting process for entire bank
• Manage capital adequacy, liquidity, and funding strategies
• Optimize capital structure and allocation to support business growth
• Oversee accurate and timely financial reporting to stakeholders, including regulatory bodies
• Evaluate and manage the bank's capital structure and advice on investment strategies
• Ensure efficient management of company resources in accordance with the stipulations of relevant legislation, including Banks Act, PFMA, Companies Act, Income Tax Act, IFRS principles and others
• Monitor and measure progress against set budgets and financial plans for entire bank, highlight areas for EXCO and Board focus / further action
• Liaise with internal and external auditors to ensure that integrated financial systems are in place and compliant with standard accounting principles and procedures
• Review and challenge the business case for IT projects, focusing on financial viability, ROI, and alignment with business priorities
• In‑depth knowledge of financial regulations, accounting standards (IFRS, Basel III, etc.), and financial reporting requirements specific to financial institutions
• Expertise in financial analysis, budgeting, forecasting, and financial modeling
• Support business by providing financial models and / or finance reviews of business cases and tactical plans

Operations

• Ensure transparency in financial dealings and compliance with disclosure requirements
• Ensure cost effective financial systems, internal control systems, policies and procedures, management and support functions are designed and implemented to improve overall operations and effectiveness of the bank and safeguard the bank's assets
• Communicate complex financial concepts clearly to non-financial stakeholders
• Drive efficiency in financial processes, systems, and operations
• Oversee treasury management, cash flow management, and financial controls.
• Ensure supporting documentation is available and stored as per regulatory requirements
• Ensure proper controls, timeliness and accuracy of expenditure and cash flow management, month end, quarterly and year end closings, as well as other financial areas
• Coordinate the preparation of financial statements, financial reports, special analysis and information reports and presentations for financial, strategy and board meetings
• Ensure statutory and regulatory reporting is of high quality and submitted within required timeframes
• Manage SLAs and other contractual agreements with internal and external stakeholders / customers / suppliers to ensure optimal efficiency and synergies are achieved
• Participate in vendor selection processes, focusing on financial stability of vendors, contract terms, pricing, and risk implications
• Review and negotiate contract terms to ensure they align with the institution's financial interests and risk profile

People Management

• Manage performance of direct reports, ensuring agreement of annual goals, measuring performance against agreed goals and dealing with non‑performance accordingly
• Talent management of direct reports, including career development and paths for all staff and succession planning for key positions
• Ensure that staff receive adequate and relevant training to support their careers, including providing thought leadership around changes and trends in the finance environment
• Ensure that the working environment contributes to improving staff morale and increased productivity
• Alignment to the bank's transformation objectives through departmental processes
• Ability to identify, assess, and mitigate financial risks (credit risk, market risk, liquidity risk, operational risk, etc.)
• Understanding of risk management frameworks and regulatory requirements (e.g., Basel III capital adequacy ratios etc)
• Show effective risk management practices through reporting, highlighting the institution's ability to identify, measure, manage, and mitigate risks
• Achieve a strong risk and compliance record with PA regulations, minimizing regulatory issues or enforcement actions
• Regularly review and report on risk exposures, capital adequacy, and liquidity positions to the PA, demonstrating proactive risk management and capital planning
• Identify and assess financial risks associated with IT projects, including implementation risks, cost overruns, and potential regulatory compliance issues
• Ensure IT projects comply with relevant financial regulations, data security standards (e.g., PCI-DSS for payment processing), and internal policies
• Ensure IT projects comply with local regulations, such as the Banks Act, Prudential Authority guidelines and data protection laws (e.g. POPIA)
• Focus on cybersecurity and data protection measures, given the sensitive nature of financial data
• Collaborate with risk management and compliance teams to mitigate financial and regulatory risks

External Relationships

• Maintain strong relationships with regulators SARB PA, FSCA, NT, DCDT & complying with PFMA etc and ensure effective communication
• Act as a key interface with the SA reserve Bank and other regulators to ensure that all regulations are complied with and that regulatory reports are timeously submitted
• Serve as a key point of contact for the PA on financial and prudential matters, ensuring clear and transparent communication
• Address PA inquiries and requests for information promptly and effectively
• Build strong relationships with investors
• Government and regulatory structures including but not limited to :
• National Treasury
• SA Reserve Bank
• External Auditors
• Financial Services Board and others
• Internal Relationships
• Postbank Board
• Postbank Exco

Qualifications and Experience

• Must be registered as a Chartered Accountant and Registered with South African Institute of Chartered Accountants (SAICA)
• Advantage - MBA / MBL / Master's degree in Finance or equivalent (NQF 9)
• Experience in Financial Service industry – 10 Years

Knowledge and understanding of

• Thorough understanding of banking practices and the associated risk management thereof
• Banking industry platforms and standards
• Extensive knowledge of Corporate Governance
• Thorough knowledge and understanding of financial systems
• Thorough knowledge of Financial Management
• Good knowledge of Treasury risk management, processes and procedures
• Excellent knowledge of International Financial Reporting Standards and Banking Regulations
• Risk and Compliance Management
• Value Chain Management

Project Management principles and practices

• Good understanding of Government related acts (PMFA, Banks Act, Companies Act, Income Tax Act etc)

Disclaimer

Postbank is committed to the achievement and maintenance of diversity and equity, only shortlisted applicants will be contacted, and applications imply consent to personal data processing under POPIA.

Seniority level: Executive

Employment type: Full‑time

Job function: Finance, Strategy / Planning, and Administrative

Industries: Banking and Financial Services

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