Chief Financial Officer – Retail – Illovo, Sandton, South Africa

Southern Africa
Posted 1 month ago

Reference No. JA-SR- 0026

Reference Number: JA-SR- 0026

The Group was established over three decades ago with the intention of establishing a Pan African investment bank on the African continent. In the process of establishing the investment bank, the shareholders of the Group took the decision to build additional and different business units with a similar Pan African vision, including retail financial services and housing.

We are looking for a strongly commercial Chief Financial Officer (“CFO”) for our fast-growing FMCG, Retail division.

Reporting line

The CFO will report to the Partner & Group CFO.

Job Description: 

Maintain full responsibility for managing the finances and fortunes of the Retail Chains which the Holdings Group has bought and now owns.

In keeping with the seniority and importance of this role, the CFO is expected to be a key and pivotal member of the management team who will spearhead the company’s growth and expansion. This role will take specific responsibility for ensuring that this is done with optimal finance arrangements, both equity and debt funding, as well as with appropriate and sufficient internal controls to manage all and any associated risks in such a dynamic growth stage. This will also entail, by virtue of the group’s multinational presence, a treasury and foreign exchange exposure element and minimizing tax charges and tax risks across the various jurisdictions. This role will involve managing a team and key service providers including but not limited to auditors and bankers.


  • Upon joining, quickly build an understanding of the business in terms of cash flows, profitability, taking control of the numbers.
  • Ensure a high degree of predictability in Financial Information, and in Financial Reporting, enabling the business to move forward “without surprises”.
  • Financial Data Analysis.
  • Daily Cash Flow management including Daily Cash Flow projections.
  • Oversee daily processing and maintenance of accounting records for all operational companies.
  • Review of treasury function to ensure that all operational companies are sufficiently funded.
  • Review and maintain both financial, and enterprise risk management procedures for the retail businesses.
  • Frequently monitor the retail industry for risk-related trends, and the possible exposure and/or impact on the business.
  • Eliminate newly identified financial and operational risks by engaging with business operational managers and implementing timely action plans.
  • Work with Operations and Store Managers to move the business towards operational excellence.
  • Review daily bank reconciliations and report generation with regards to irregularities, unlawful conduct, and preventative measures (fraud awareness) when variances arise.
  • Oversee statutory and tax related matters for all companies.
  • Management of processes relating to tax provisional returns, annual returns and related payments.
  • Review of month-end inter-company revaluations and interest calculations.
  • Review of month-end and year-end tax computations.
  • Review of monthly Exco Reports and distribution of the same within prescribed deadlines.
  • Managing and controlling the month end close process and reviewing all month end deliverables.
  • Review of month-end files in detail.
  • Attendance of Exco Meetings.
  • Attendance at Audit Committee Meetings as required.
  • Review of year-end audit files and active participation in the audit of all operational companies.
  • Preparation of annual budgets and quarterly forecasts for all operational countries.
  • Review of best practices from a workflow perspective and “value-add” to the finance services
  • provided to the operational countries.
  • Resolve queries from Revenue Services promptly.
  • Management of insurance.
  • Management of banking relationships.
  • Conduct feasibility and risk assessments for new stores.
  • Review VAT and tax returns.
  • Review of monthly management accounts.

  • Reporting:

  • Partner Exco report back (monthly).
  • Customer count (monthly).
  • Sales summaries (monthly).
  • ALCO (forecast for Group Finance – monthly).
  • Trading statement (weekly and month end).
  • Cash forecast (daily).
  • Stock holding (daily).
  • Ad-hoc review of the Sales dashboard, which is prepared by the Accountants daily Ad-hoc reports as requested.
  • Budget:
  • Detailed review and management of budget models.
  • Presentation.
  • Authorising Payments:
  • General Africa Foods (All – South Africa and Eswatini).
  • Lojaf (Back-up).
  • Alliance Foods (Back – up).
  • Afri Pack (All – Namibia, Eswatini, and South Africa).
  • Manage the audit process with the auditors as is necessary and ensure all deadlines met.
  • Assist with payroll queries for the Company.
  • Manage the finance teams located in Illovo and Eswatini.
  • Weekly communication with Group Finance to discuss progress on deliverables.
  • Management and coaching of all financial staff.
  • Work with the Group Chief Executive Officer to ensure strategic aims are met.
  • Work with Group Chief Financial Officer to ensure all Group financial targets and strategic goals are met.
  • Have a macro understanding of the company’s financial affairs and optimise at all times.

Qualification Requirement:

  • Only qualified Chartered Accountants will be considered for this role.

Experience / Background Preference:

  • The company will only look at candidates who have no less than FIVE years’ post articles, relevant working experience. 10+ ideal.
  • This role is suitable for a seasoned Financial Manager looking to take their first step into a formal CFO title, or for an experienced CFO (and everything in between these two levels).
  • A background in Retail, Supermarkets, FMCG, food or beverage businesses is highly preferred.
  • Strong Accounting knowledge across reconciliations, stock management etc.
  • A strongly commercial mindset.
  • An operational focus.
  • Ability to deal with the regulators outside of South Africa (Sub-Sahara).
  • An understanding of Financial Data Analysis tools (BI etc), is advantageous in order to “slice and dice” the finance data.
  • An understanding of cross-border funding, and cross-border mechanisms.
  • Previous exposure to Africa or an emerging market will be advantageous.
  • An excellent command of English, both written and verbal, is a requirement of the job.

If you wish to apply for the position, please send your CV to .

Please visit for more exciting opportunities.

Jamie Adams

Recruitment Specialist

CA Finance

CA Global will respond to short-listed candidates only. If you have not had any response in two weeks, please consider your application unsuccessful however your CV will be kept on our database for any other suitable position.

kept on our database for any other suitable position.

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