Posted on :
10 Jul, 2020
10 Jul, 2020
The Technology Innovation Agency (TIA), an initiative of the Department of Science and Innovation, has a mandate to enable and support technology innovations across all sectors of the economy in order to achieve socio-economic benefits for South-Africa and to enhance its global competitiveness.
TIA is a public entity with the aim of enhancing the country’s capacity to translate a greater proportion of local research and development from higher education institutions, science councils, public entities and private research institutions into commercial technology products and services.
In executing its mandate, the organisation provides funding and non-funding support to stimulate innovation so that it provides a catalytic impact to the economy whilst improving people’s lives and protecting the environment.
TIA is a talent driven, customer- centric and impact focused organisation. In our endeavour to support technology innovation with socio-economic outcomes, we seek to infuse the organisation with team players that find resonance as value creators, agile thinkers, progressive attitudes, customer-centricity, dynamic work ethic and an optimistic disposition. We aim to harness these attributes in a manner that they culminate into a culture of teamwork, impact and accountability.
Job Title: Chief Financial Officer
Location: Pretoria, Gauteng, South Africa
Reference # TIA08/07/2020
Contract Type: Contract 5 Years
Salary: Market Related
Scope of the Position:
The Chief Financial Officer position reports to the Chief Executive Officer and is responsible for the following functions:
•Supply Chain Management; and
•Enterprise Risk Management.
Purpose of the Position:
This role will be responsible to provide strategic financial leadership, governance, financial risk management, professional and ethical financial practices to ensure financial and reputational sustainability of the Technology Innovation Agency.
•Develop a sound business case to the Department of Science and Innovation and National Treasury to improve funding for the Technology Innovation Agency (TIA).
•Contribute to the development and drive the implementation of the organisation’s five –year strategic plans, vision and goals through the development of the three-year Divisional strategy.
•Contribute to the development of the TIA Annual Performance Plan (APP), aligned to the Strategic Plan.
•Develop an annual operational plan for the Finance Division, aligned with the TIA Strategic Plan and TIA Annual Performance Plan.
•Develop and manage the financial and expenditure plan to support achievement of TIA’s objectives.
•Set clear direction and project objectives for the Division.
•Manage TIA’s financial risks.
•Ensure the values, vision, mission and strategy is articulated within the Division
•Ensure sound Corporate Governance.
•Enable effective decision making in TIA by aligning the Delegation of Authority with the TIA Strategic Objectives within acceptable risk parameters.
•Manage the process of compiling Annual Financial Statements for the Technology Innovation Agency, aligned with National Treasury Regulations.
•Attend to other financial reporting requirements in line with Government regulations and relevant legislation.
•Generate quarterly management accounts and reports for review by EXCO, the Board and the Department of Science and Innovation.
•Consolidate management accounts from business units to prepare monthly reports to monitor and compare budget to actual expenditure for the entire organisation.
•Provide reports to EXCO on Investment Support, such as royalties, exit strategies, etc.
•Prepare forecasts based on trends to ensure that TIA achieves its set targets and to implement corrective measures should risks be identified in the Short and Long Term
•Manage revenue targets, maximizing return on investment and collection of royalties to ensure revenue growth.
•Oversee the annual external audit exercise for TIA
Governance, Risk Management and Management Reporting
•Ensure sound Corporate Governance.
•Conduct risk assessment and update the risk matrix for the Division. Submit monthly and quarterly risk reports to EXCO and Board Committees.
•Ensure compliance with applicable legislation as required.
•Ensure compliance with regards to the implementation of policies and procedures.
•Proactively identify and address internal and external challenges to protect the organisation
•Identify, build and nurture trust and collaborative relationships with internal and external stakeholders.
•Interact closely with CEO, EXCO, Board, government officials, the public and other stakeholders in maintaining positive relationships for the organisation
•Lead conversations with industry around issues of specialisation.
•Provide input to the negotiations with investees regarding agreements, sales of shares.
•Engage with industry stakeholders to position the organisation strategically.
•Develop and implement work plans to guide the implementation of projects.
•Ensure communication, knowledge sharing and interdependence across Divisions to maximise efficiency in the organisation.
•Apply forward-thinking to re-imagine organisational processes in line with client requirements to create value within specified time periods.
•Make use of analytics for decision-making and forecasting purposes.
•Enable the Board, EXCO and other key stakeholders, by optimising the management of financial and supply chain functions in line with the PFMA and National Treasury Regulations.
•Ensure the Finance; Supply Chain Management and Investment Finance Standard Operating Procedures are revised and signed-off annually.
•Advise the executive team should any possible risks be identified
•Advise the organisation on the forecasting and budgeting requirements.
•Prepare the annual budget in line in line with the Annual Performance Plan
Ensure that annual budgets are developed for each Business Unit in line with the Operational Plans.
•Ensure key roles are staffed with appropriately experienced employees.
•Oversee all operational and business activities to ensure the Finance team produce the desired results and are consistent with the overall strategy of the organisation.
•Ensure that Performance Agreements are drafted for employees in the Finance Team and that performance reviews are conducted in line with the Human Resources Policies.
•Implement the required Performance Management initiatives, in line with the Human Resources Policies, in situations where underperformance / non-performance is identified.
•Identify competency-gaps of team members and ensure that appropriate training interventions are implemented.
•Mentor and coach staff members continuously to enhance the effectiveness of their performance.
•Hold regular meetings with team members to improve their capabilities and facilitate skills transfer
•Ensure talent is retained within the Division through people management processes.
•Hold team members accountable for poor performance.
•Hold team members accountable for misconduct.
•Drive a culture of professionalism, delivery, efficiency and urgency in the organisation.
•Follow operational procedures, policies and standards.
Qualifications and Experience:
•Minimum Requirements: Chartered Accountant (SA)
•10 years’ experience in a Senior Management role in Finance or Accounting with at least five (5) years in an Executive Management role.
•Experience in the application of the PFMA and Treasury Regulations.
•Application of the Generally Accepted Accounting Principles (GAAP) as well as Generally Recognised Accounting Practices (GRAP), including budgeting, forecasting, cost control principles and strategic planning and execution.
•Experience in Supply Chain Management (SCM), Asset Management, optimisation of Investments and debt collection.
•Proven experience in Stakeholder Relations Management.
•Proven track record in Operational Efficiency through effective People Management, and
Technical Skills / Competencies:
•Communication – written and verbal
•Financial budgeting and reporting
•Judgment and decision-making
•Project Management skills
Application Deadline: 31/07/2020