Job Description

Chief Financial OfficerA starting annual total cost to company package of R 1 765 545,40 (negotiable commensurate with experience)Five-year fixed term contract, renewable.Introduction:The Competition Commission (Commission) is a statutory body constituted in terms of the Competition Act, No. 89 of 1998 (the Act). It is one of three independent competition regulatory authorities established in terms of the Act, with the other two being the Competition Tribunal and the Competition Appeal Court. The Commission is empowered by the Competition Act to investigate, control and evaluate restrictive business practices, abuse of dominant positions, mergers, undertake market inquiries and advocacy in order to achieve equity and efficiency in the South African economy. The Commission is a public entity listed in schedule 3A of the Public Finance Management Act (PFMA) and acts in compliance with section 217 of the Constitution of South Africa and applicable Public Procurement Regulations and Prescripts.The Role:Reporting to the Commissioner, the Chief Financial Officer (CFO) is responsible for strategically directing and leading financial planning, financial management, reporting, administration, procurement, risk management and internal control functions of the Commission. The CFO also ensures compliance with statutory, regulatory, and governance requirements, aligning financial strategies with the Commissions strategic objectives and business plans.The main responsibilities for this exciting position include:

• Financial Planning and Analysis
• Budget Management and Reporting
• Risk Management and Compliance
• Financial Policies Development
• Supervision of Financial Operations and Staff
• Stakeholder Engagement, including Government Entities
• Internal Controls and Financial Integrity

Strategic Leadership and Financial Sustainability:

• Develop and implement long-term financial strategies aligned with the institutions regulatory mandate.
• Oversee financial risk management, internal controls, and business continuity planning.
• To manage and develop strong relationships with stakeholders in the financial management of the Commission including the Department of Trade, Industry and Competition, National Treasury, the Auditor-General, Audit and Risk Committee and Internal Audit.
• To direct the financial strategy and financial sustainability of the Commission to ensure availability of adequate financial resources.
• To lead and manage the Finance Division including setting priorities as well as management of human and other resources.
• To contribute to effective financial decision making, implementation and reporting to the Accounting Authority and relevant committees.
• Preparing financial statements in accordance with the standards of GRAP and ensure compliance with all relevant statutory requirements and regulations.
• To manage the budget process while contributing to effective strategic and business planning systems and ensuring timely management reporting.
• To oversee all accounts, ledgers, and reporting systems and ensure compliance with appropriate accounting standards, regulatory and audit requirements.
• To ensure effective financial and risk management and proactively managing internal control and external audit activities.
• To ensure that Supply Chain Management (SCM) within the Commission is in line with relevant legislation and internal policies and procedures.

Operational Efficiency and Cost Management:

• Drive cost containment strategies, financial efficiency, and revenue optimization measures.
• Monitor and evaluate financial performance, aligning expenditure with strategic objectives
• Analyse cost variances and implement corrective measures. Prepare monthly repor

Governance, Risk, and Compliance:

• Ensure compliance with all legislative, regulatory, and financial reporting standards, including implementation of fraud prevention mechanisms
• Act as a key advisor to the Commissioner on financial risk and governance matters.
• Establish and maintain a robust internal control framework to safeguard institution assets. Assume total responsibility for all challenges, opportunities and requirements that may arise within the institution in so far as they relate to the financial administration, compliance and strategy of the Commission

Technology and Digital Transformation:

• Ensure the implementation of financial systems, automation tools, and digital transformation initiatives for enhanced efficiency and compliance.
• Leverage data analytics tools to enhance decision-making and reporting capabilities.

Attributes:Over and above well-developed technical skills in your specialization areas, the incumbent must demonstrate, amongst others:

• Fit with the Commissions Values (Communication. Ownership. Making a difference. Professionalism. Employee Welfare. Teamwork. Efficiency)
• Being a Visionary and a strategic thinker
• Strong Interpersonal skills
• Transformational leadership skills
• Change management skills
• Strong analytical and strategic thinking skills
• Excellent leadership and communication abilities
• Integrity and ethical decision-making
• Ability to work under pressure and meet deadlines
• Strong problem-solving skills and a collaborative approach

Other considerations:

• Practical work exposure to area of expertise will be further considered to balance against other requirements.
• Strong understanding of activity based and standard costing methods
• Advanced knowledge of accounting principles and regulatory standards
• Good understanding of the South African Legislative Environment.
• Strong stakeholder relations with the National Treasury and the Auditor-General

• A Chartered Accountant (CA) (SA) or equivalent qualification is essential.
• A postgraduate qualification such as a Masters in Business Administration, Finance or Accounting as an added advantage.
• A minimum of 10 years accounting and or auditing experience, of which 6 years must be at a senior management level leading a team.
• Knowledge of generally recognised accounting and reporting practices including PFMA, Treasury Regulations, Treasury Instructions, GRAP, IFRS, and relevant public sector frameworks.
• Experience in managing large-scale financial operations in a regulatory or public sector environment is highly preferred.
• Demonstrate a strong ability to link financial strategies to operational and strategic goals.
• Practical knowledge of public sector budget processes.
• Understanding of Supply Chain Management (SCM) regulations and corporate governance framework.
• Expertise in financial planning, forecasting and analysis.

We offer:

• Exposure to excellent training opportunities.
• A supportive and stimulating working environment.
• An opportunity to make a meaningful contribution to the attainment of the Commission's vision 2030 of a Competitive, Dynamic, Deconcentrated and inclusive Economy that serves all South Africans.

Employment Equity:

• Over and above operational requirements, our appointment will take into account the countrys and organisational Employment Equity imperatives.

Diversity and Inclusion:

• Persons with Disability are encouraged to apply.
• The Commission is committed to creating a diverse and inclusive work environment.

Application Process:

• All international qualifications must be accompanied by a SAQA accreditation certificate.
• Shortlisted candidates may be required to undergo psychometric assessments.
• The successful candidate will be vetted for security purposes.
• The Commission reserves the right not to fill this position subject to budget, organisational priorities and other considerations.

If you meet all the criteria above and are looking for an exciting opportunity to make a difference to our economy, then look no further than the Commission! We look forward to receiving your comprehensive CV!PLEASE NOTE THAT ONLY ONLINE APPLICATIONS WILL BE ACCEPTED. FEEDBACK WILL BE LIMITED TO SHORTLISTED CANDIDATES ONLY.THE COMMISSION RESERVES THE RIGHT NOT TO PROCEED WITH THE APPOINTMENT OF ANY VACANT AND ADVERTISED POSITION.

The Competition Commission South Africa