Purpose
Accountable for leading the Finance and Value Management (FVM) function for the SA Retail Life & Savings (SARLSA) business line within IAM. Develops and executes the FVM strategy and alignment to SA Retail Life & Savings strategy. The role is accountable for all financial aspects of the business line, including the relevant financial information, as well as insights from the financial information, management reporting, and driving action back into the business to enhance the commercial outcomes of the business line.
Minimum Experience
10+ years experience in a similar environment, of which 3 - 5 years at executive management level
Minimum Qualifications
Bachelor`s Degrees and Advanced Diplomas [NQF Level 07] in Finance Economics and Accounting
Additional Minimum Qualifications
C.A. (S.A.) or Fellow of Actuarial Society of SA or equivalent qualification; Member of SAICA or ASSA or equivalent body Preferred
Duties and Responsibilities
- Accountable for financial control in SARLSA
- Accountable for regular financial reporting and hard close processes
- Accountable for production and delivery of financial management information in SARLSA, and have an intimate understanding of the financials
- Accountable for adherence to IAM financial policies and procedures
- Oversight of financial processes in SARLSA
- Drive cost management within SARLSA
- Responsible for management of relevant financial teams
- Responsible for budgeting and financial forecasting process for SARLSA and translation of business plan into financial implications
- Setting financial objectives for SARLSA and translate these into targets for remuneration and incentive purposes, and ensure alignment into IAM
Additional Responsibilities
- Measure and report on performance of SARLSA
- Responsible for capital allocation within SARLSA to optimise financial outcomes against objectives
- Drive commercial objectives of SARLSA through delivery of insights
- Business case assessment and realisation of large programmes of work in SARLSA
- Integration of SARLSA financials into IAM finances
- Leverage capabilities in IAM Finance and IAM Actuarial to drive delivery
- Actively partner with and effectively act as CFO role to the Head of SARLSA to optimise commercial outcomes such as capital usage, maximising headline earnings, economic profit, New Business Value and ROE by managing key business value drivers through insights from financial aspects of the business
- Develop methodologies, processes metrics and reporting to drive commercial outcomes. This would include creating internal measures and metrics (e.g. profit centres within SARLSA) to drive commercialisation of the business
- Participate in SARLSA management structures (e.g. Exco), including strategy formulation and business decision making processes
- Integrate and network with relevant internal stakeholders to enable the achievement and delivery of critical financial and commercial outcomes
- Accountable for all financial hard close and monthly deliverables for SA Retail Life & Savings through partnering with various Finance and Value Management as well as Actuarial functions within IAM. This includes sign off on SA Retail Life & Savings financial results at key reporting dates, including those provided to SBG
- Develop and drive a proactive finance transformation journey that embraces finance of the future, changing technology and new innovative technology and drivers
- Lead the team according to SBG and IAM's leadership principles and values, including managing the employee lifecycle to ensure a high-performance culture
- Integrate and drive human resource strategies across operating units to ensure optimum utilisation of human capability through effective planning and development.
- Lead the team according to SBG's leadership principles and values, including managing the employee lifecycle to ensure a high-performance culture.
- Drive any financial regulatory changes that impact SA Retail Life & Savings, enabling the delivery of clean internal and external audit reports
