Chief Financial Officer (CFO) - SPARK Schools
Watch our Vision Video: https://www.youtube.com/watch?v=hOU0TYnNsZo
Take a tour of our Website: https://sparkschools.co.za/
SPARK Schools is a social impact disruptor and is leading change in the education space through its network of affordable private schools. The SPARK Schools network provides transformational education innovation through Africa’s first blended learning model, which elevates student achievement and provides the tools teachers need to serve their students effectively.
The blended learning model, which combines classroom teaching and online instruction, allows teachers to anticipate student needs and equips schools to provide personalized education at an affordable cost. SPARK Schools is pioneering this transformative education model to ensure the accessibility of university and careers for all.
SPARK Schools is a high growth, mission and values-driven entrepreneurial organisation, operating 20 primary schools, 4 high schools and serving over 15,000 families in 2023. We are looking for dynamic people to join our team.
Purpose of Role:
The CFO is positioned as the strategic partner and advisor to the CEO to support the sustainable expansion of the network. The CFO is responsible for all operational matters as they relate to finance, risk and budget management, cost benefit analysis, compliance, cash flow management and the securing and management of new funding and or capital raising strategies. The CFO is responsible for overseeing the efficiency and quality of systems and processes.
Reports To: Chief Executive Officer (CEO)
Strategic and Operational Plans Management
- Work in partnership with the CEO and senior executives on the strategic vision of the network including identifying and developing investor relationships.
- Take full responsibility for the overall control of the company’s finance and accounting function.
- Contribute to the development of the company plan and strategy across all areas of the business, challenging assumptions and decision-making as appropriate and providing financial analysis and guidance on all activities, plans, targets and business drivers
- Provide input and guidance to the network with regard to Finance, Risk, Compliance, Accounting, and any applicable financial service
- Provide strategic direction in respect of financial management and participate in the strategic planning processes of the company
- Work with relevant leaders to grow the business, formulating strategies and plans.
- Optimise the company’s brand position, financial performance and strategic position.
- Ensure that budget processes are aligned to strategic planning processes and performance outputs
- Provide timely and accurate flow of financial and other operational information necessary for strategic decision making
- Evaluate the adequacy and effectiveness of internal controls, governance and risk management of all business processes
- Ensure that company controls around systems and processes are robust, compliant and support current activities and future growth.
- Develop and implement service delivery improvement programmes
- Ensure there is full compliance by business units with relevant financial legislation, policies, and guidelines
- Approve and implement delegations of authority that are compliant with the applicable company framework and requirements
- Responsible for providing insights into property acquisition and entering into discussions and agreements with property providers according to the requirements of the financial model
Board, Shareholders and Investors
- Prepare and present the Annual Financial Statements to the Board of Directors and Shareholders.
- Prepare the Board pack and minutes for the Board meetings.
- Establish a high level of credibility and manage strong working relationships with external parties including investors and advisors.
- Develop, manage, implement and review Finance policies for input from relevant stakeholders
- Ensure company budgeting processes are carried out and reviewed
- Ensure the budget processes are aligned to strategic planning processes and performance outputs.
- Preparation and submission of the budget statements to the board within stipulated time frames
- Preparation and submission of Budget Adjustment Estimate and implementation of approved varients
- Advise business unit managers on budgeting, accounting, analysis, financial reporting, cash management, debt management and other duties as delegated by the CEO from time to time
- Oversee the compilation of financial statements
- Oversee debt collection initiatives in order to ensure that all income due is collected timeously
- Authorise all expenditure and claims within delegated authority
- Liaise with auditors and co-ordinate external, interim and annual audits
- Manage the year-end audit process with the various stakeholders
- Ensure that the recommendations of internal and external audits are implemented and adhered to
- Ensure proper disposing of surplus and/or underutilised assets as and when required
- Take ultimate responsibility for the company’s cash flow management policies and ensure the establishment of systems, procedures and processes to ensure efficient and effective cash flow management
- Lead and oversee effective reporting frameworks within the company
- Prepare and facilitate the preparation of financial statements for presentation and submission to relevant stakeholders within stipulated timeframes and in accordance with prescribed norms and standards
- Ensure that monthly expenditure reports are prepared and distributed to business unit managers
- Ensure that budget projections, expenses and revenue forecasts are updated and that the CEO is timeously informed of possible unauthorised expenditure by comparing regular internal financial management reports against budget
- Prepare Board report for inclusion in the Annual Financial Statements
- Prepare financial report for inclusion in the Annual report of the company
Management of Teams (Finance/Legal/Credit Control and Billing) and other resources
- Ensure that performance agreements and development plans are developed and implemented for all staff within the Finance business unit
- Foster effective communication, collaboration and feedback within the business unit upholding appropriate standards of confidentiality
- Lead by example and motivate team performance whilst adopting a leadership style aligned with the company’s business model, goals and values
Qualifications and Experience Criteria:
The ideal candidate will possess the following qualifications and criteria:
- Minimum B.Compt Honours degree, CTA and qualified with a CA(SA) registered with SAICA
- At least 10 years post articles experience
- At least 5 years experience in a high entrepreneurial or high growth industry in a CFO/Financial Director position
- 2-3 years experience overseeing collections
- Previous experience with Sage and Xero is advantageous
- 2-3 years B-BBEE experience
- Experience working with Boards of Directors, Shareholders or future Investors
- Advanced proficiency in IT and technology systems relating to finance
Skills and Mindset:
- Meets the requirement for a commercially astute, articulate, technically strong, dynamic, insightful and influential leader with the ability to operate at both strategic and operational levels.
- Advanced Excel ability and analytical skills
- Exceptional communication skills at all levels.
- Ability to collaborate – Proactively works in partnership with others to achieve a common goal or necessary objective; builds rapport and cooperative relationship with others; establishes and maintains strong relations with relevant stakeholders.
- Ability to maintain confidentiality – Makes effective business decisions regarding with whom to discuss sensitive and confidential information. Respects the privacy of others and maintains the confidentiality of information to which it is exposed. Consistently uses good business judgment, guided by the Ethics Policy.
- Ability to handle high levels of pressure and critical decision-making.
- High integrity combined with commitment to good governance.
- Energetic, highly motivated, with an enquiring mind and passion for excellence and innovation in pursuit of business growth and success.
- Strategic Vision and Agility - ability to think strategically, anticipate future consequences and trends, and incorporate them into the organizational plan.
- Displays grit, high level of excellence, is mission & vision aligned and displays a high level of self-reflection (GEMS).
- Grit: Persistence through challenges.
- Excellence: A track record of high expectations personally and professionally.
- Mission and Vision Alignment: Understanding of and passion for the SPARK Schools mission to provide excellent education at an affordable cost.
- Self Reflection: Finding the capacity to bring your best self to challenges and opportunities.
Values: Service, Persistence, Achievement, Responsibility, Kindness
Compensation: Market related/Commensurate with experience - plus short and long term performance incentives.
Position Type: Full Time
Location: Rosebank, Johannesburg, South Africa
SPARK schools is an equal opportunities employer and preference will be given to candidates from designated groups with due consideration of the company’s Employment Equity goals and targets.
SPARK schools encourages persons with disabilities to apply.
SPARK Schools may expire the posting of this advertisement at their own discretion.
Kindly note that should you have not heard from us within two weeks of the closing date please consider your application unsuccessful.