Chief Financial Officer - Sandton, South Africa - Discovery Ltd.

Discovery Ltd.
Discovery Ltd.
Verified Company
Sandton, South Africa

1 week ago

Thabo Mthembu

Posted by:

Thabo Mthembu

beBee Recruiter
Description

Business Unit:
Vitality RSA
Function:Accounting
Date:11-Apr-2023
Discovery

Vitality

Chief Financial Officer

  • The Vitality SA business is Discovery's behaviour change and rewards platform that underpins Discovery's various financial services products.

The Vitality CFO reports to the Vitality CEO, is a member of Exco and a Director on the Vitality Board, and sits on the Discovery Group Audit Committee.

The CFO is responsible for Financial Management and Reporting, as well as the Commercial and Legal functions for Vitality.

These functions play a central role in managing all strategic partner relationships.- Areas of responsibility may include but not limited to:

  • Financial Management & Reporting
  • Provide oversight on Accounting and Tax technical issues.
  • Oversee the production of the monthly and annual management accounts for the Vitality division
  • Oversee the preparation of the Division's Annual Financial Statements and sign off
  • Monthly detailed variance analysis on all revenue lines, benefit costs as well as operating costs
  • Trend analysis on benefit utilisation and take up across various member cohorts
  • Present monthly financials and dashboards to Vitality Exco and Vitality Board
  • Divisional representative on the Group Audit Committee
  • Coordinate and sign off on Internal & External audits for the division
  • Budgeting & Forecasting
  • Responsibility of the Division's annual budgeting process, working closely with the Actuarial team to project all revenue streams, benefits take up, operating costs, headcount etc
  • Monthly monitoring of variances and producing monthly revised forecasts for Group Finance
  • Responsibility for coordination and setting of the Division's biannual KPI's and tracking against actual performance, and reporting to Vitality Exco and Board
  • Signing off on cash flow projections and input into group capital plan
  • Signing off all Capital/Software development expenditure plans and presenting to group capex committee
  • Commercial/Legal
  • Responsibility for commercial negotiations and contracting for all Vitality & Bank Rewards partners spanning across Wellness, Travel and Retail industries
  • Responsibility for the Commercial Department that manages these partners and constantly reviews the commercial arrangements to ensure relevance and commercial optimisation
  • Maintaining strong relationships with the key partners and dealing with escalations
  • Responsibility for the legal team that is responsible for:
  • Drafting and custody of all commercial contracts
  • Handling all legal and Compliance issues pertaining to the division.
  • Sign off on product terms and conditions
  • Custodian of Vitality programme rules and ensuring they are relevant and up to date across all products
  • Addressing member complaints and potential breaches


  • Finance Operations

  • Oversee the Creditors department that reconciles and manages all payments of member subsidies and benefits to Vitality Partners.
  • Oversee the payments of all subsidies to members in the form of boosters and general cashbacks on a monthly basis
  • Manage the Revenue team that is responsible for member billing, business support & credit control on various benefits with member copayments


  • Payment Operations

  • Oversee the Payment team that is responsible for Miles payments and Cashbacks.
Data Operations

  • Oversight over the Data Operations team responsible for communication files between Vitality and our partner network regarding:
  • Benefit reconciliations with partners to ensure databases are in synch and up to date
  • Benefit activations, upgrades, reinstatements, cancellations
  • Points allocation to members for fitness activities and wellness assessments
  • Competencies
  • Economic market awareness (locally & internationally)
  • Legal and commercial knowledge and astuteness
  • Excellent negotiation skills
  • Strategic mindset
  • Analytical/Business Intelligence aptitude
  • Risk assessment skills
  • Innovation and financial management
  • Strong leadership and interpersonal skills
  • Communication and cross company collaboration
  • Qualifications and Experience
  • CFO/Financial Director experience
  • Degree plus
    recognised professional accounting qualification CA(SA) or CMA
  • 10+ Years post qualification experience
  • Commercial exposure and experience in contract negotiation and relationship management
  • Experience in managing multidisciplinary teams

EMPLOYMENT EQUITY
The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

  • EMPLOYMENT EQUITY
The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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