Standard Bank (2008 – 2011)
Responsible for the full spectrum of financial function, including the development of budget plans, policies, and procedures, and for the overall supervision, management and direction of PIM finance department.
Played a leading role in:
- Strategic planning, set-up of quarterly valuation submissions, investment committee meetings, and investment mandates
- The incorporation of Real Estate Investments and Private Equity into a single division, which led to improved staff efficiency in a complex equity investment environment
- The creation of a new division, which required new measurement tools and business-unit- specific reporting and governance structures, including Quarterly Valuations, Limits of Authority, Investment Committees, and MIS
- Developing enhanced management information relating to the equities business, thereby providing a holistic picture of all metrics, such as cash injected, profitability returns, capital consumption, and IRR, resulting in improved investment analysis and evaluation
- The facilitation of the quarterly valuation process, the preparation and review of investment valuations, and the compilation of board packs for the Investment Committee
- The restructuring and optimisation of the division’s balance sheet in terms of asset classification, capital consumption, taxation, liquidity, equity, and debt components (funding structures)
- Capital management, calculating capital usage per investment, managing the utilization of total capital for each sub-section, and relating capital usage to the return achieved
- The tax planning and structuring of allocated investment capital and ownership structures
- Deal execution and the management of the investment structures from a financial reporting and risk reporting perspective
- Joint Venture management and control from a finance perspective
- The incorporation of new divisions into the organisational structure and execution of sales transactions
- The setting up of adjustment accounts on purchases and sales of investments.
Exercised risk and control functions, monitored key risk indicators and operational risk involvement, assessed mitigation of insurance risks, and served as representative on the operational risk committee.
Streamlined operations and wound up a number of companies (including asset sales, deregistration, and liquidation).
Established companies as and when required.
Set up and conducted financial management and administration of foreign entities and investments.
Implemented financial re-engineering by leading operating reviews and developing operating frameworks.
Property Finance and Property Management
Head of Finance: Property Finance and Advisory Services (Jan 2004 - March 2008)
Senior Manager: Property Finance (August 1999 – March 2008)Head of Finance: Property Finance and Advisory Services (Jan 2004 - March 2008)
- Held responsibility for the full spectrum of financial functions and controls, budgeting and reporting per legal entity, and taxation planning.
- Delivered MIS Loan Book reporting and the measurement of all business drivers.
- Provided strategic focus on capital management, including modeling, internal capital usage reporting, and the compilation of regulatory returns for the SA Reserve Bank and Financial Services Board.
- Served as Basel 2 Project Team member, ensuring readiness of Property Finance.
- Conducted margin management, with own ALM (assets/ liability) department established, to ensure appropriate focus on margin and quality and size of the loan book.
- Developed a pricing model to evaluate deals, and was actively involved in setting and executing the Division’s interest rate hedging strategies.
- Served on business unit Exco, contributing to strategic planning.
- Managed daily funding of the business and maintenance of off-balance sheet structures of participation mortgage bond funding (retail) and securitization vehicle (wholesale).
- Served on Provisioning Committee, and submitted monthly reviews prepared by the Finance team.
- Was responsible for payaways and collections operations.
- Managed new product evaluations and sign-off by Finance department, and subsequent roll-out.
- Was extensively involved in IT solution development and systems implementation and improvement, including SAP evaluation and acquisition:
– Rolled out the SAP Loan Administration system and managed ongoing review and enhancement
– Served as project team member for the roll-out of the SAP General Ledger and Real Estate and Treasury modules. - Maintained a close working relationship with the Risk and Compliance areas.
- Monitored insurance matters relating to property assets and loans granted.
- Was responsible for the administration and financial management of joint ventures.
- Attended committee meetings (board meetings) set-up with external representation as part of corporate governance for the division.
- Managed a team of 30 employees.
Property Management (January 2004 – March 2011)
- Delivered a financial management service in respect of the Group’s strategic property assets, in support of the property management and asset management functions, including interest rate hedging strategies and insurance of the portfolio.
- Responsible for the financial management of the Affordable Housing Division, covering debt and equity positions with additional reporting relating to the charter and joint venture partners.