Financial Director

Strategic responsibilities

• Partner with the managing director and board to ensure the delivery of business objectives.
• Work with the executive and senior management team in:
  • Setting the best corporate strategic direction aligned with the vision and business plan.
  • Making regular decisions on key strategic issues facing the company.
  • Periodically review the company’s overall strategy to anticipate and respond to changing business conditions.
  • Defining core business processes to ensure the achievement of company objectives.
  • Setting and implementing finance strategic objectives according to a planned timetable.
• Attend and actively participate in board meetings.

Client relationship management and operations

• Act as the key point of contact with the agency’s most significant client, managing all major relationships at national and regional levels.
• Support national and regional portfolio leads with strategic plans for client growth and profitability.
• Prepare and present the monthly revenue tracker for the national executive.
• Support the managing director with annual scope negotiations and rate adjustments.

Financial performance

• Monitor revenue growth targets for organic and new businesses and escalate potential issues to the executive committee, ensuring appropriate action is taken.
• Run monthly client profitability meetings, ensuring profitability initiatives are followed through and client meetings are set to recover over-servicing.
• Work with the managing director and client service team to ensure unconfirmed revenue opportunities are reported, pursued, and converted in line with forecasts.
• Drive commercial proactiveness by working with account management leads and the executive committee on cost-saving initiatives and streamlining processes.
• Prepare the agency standard rate card and individual client rate cards.
• Manage working capital to achieve maximum financial benefits and efficiencies.
• Collaborate with department heads regarding salary growth opportunities, B-BBEE targets, and other cost-saving measures.
• Negotiate and manage retainer client scope (hours and hourly rates) against actual hours worked and agreed commissions/margins.

Budgeting and forecasting

• Oversee the preparation and presentation of budgets, and monthly and quarterly forecasts, in line with Omnicom reporting standards and timelines.
• Review and forecast revenue based on contract knowledge and input from the managing director and senior account management.
• Review salary budgets, incorporate changes from the executive team, and manage compensation ratios.
• Monitor budgets and forecasts, taking action to bring them back in line when needed.
• Inform the executive committee and group CFO promptly of any financial issues affecting budget/forecast performance and propose an action plan.
• Establish and monitor annual capital expenditure budgets.
• Review and analyse accounting and operating quality in relation to actioned, budgeted, and forecasted results.

Reporting and finance management

• Review financial reports in accordance with Omnicom reporting standards and timelines.
• Present management accounts and financial information to executive committees.
• Maintain the integrity of the time reporting system and ensure team efficiency.
• Provide ad hoc reporting to TBWA Network for global clients.
• Conduct commercial analysis and present client profitability reports to business unit directors and executive committees in line with key performance indicators.
• Review and sign off the annual financial statements after statutory audits.
• Oversee B-BBEE reporting, providing guidance and direction to the agencies.
• Ensure compliance with SARS, including review of provisional tax and VAT requirements.
• Approve purchase orders and expenses, ensuring alignment with budgets and identifying cost-saving opportunities.
• Review and approve bank releases, journals, and balance sheet reconciliations.
• Design, implement, and maintain internal financial controls in line with Sarbanes-Oxley and Omnicom requirements. Ensure all financial controls protect the agency from business and audit risks.

Contract management

• Participate in new client contract negotiations alongside in-house legal counsel. Sign off on financial aspects, ensuring risk exposure is managed.
• Calculate retainer and project fees for new and existing clients.
• Review existing client contracts to assess compliance with legal and financial provisions, ensuring maximum profitability.
• Monitor compliance with client contracts, including:
  • Scope of work
  • Manpower resources required
  • Remuneration structures
• Manage financial and compliance requirements during the RFI/RFP process.
• Negotiate and renew supplier contracts.
• Review and approve new employee contracts in line with approved budgets.

Role requirements
Knowledge and experience

• Credible member of the agency’s executive committee.
• Strong relationships with agency and global client procurement teams, legal teams, and key client contacts.
• Proactive engagement with the managing director on new business opportunities, restructuring, and commercial initiatives.
• Ability to exert commercial influence within the agency.
• Delivery of timely and accurate monthly client, department, and revenue stream profitability reports.
• First-time accuracy in all financial inputs and reporting.
• Timely and effective delivery of management accounts, Omnicom reporting requirements, and key performance indicators.
• Achievement of cash collection targets and regular cash collection reporting.
• Tight management of the balance sheet, ensuring any issues are promptly addressed.

Educational requirements

• Chartered accountant (CA) (SA) with at least five years of post-article experience.
• Three to five years of experience in the advertising industry is essential.

Required and proven skills

Creativity

• Innovate and improve processes, finding new ways to enhance client service.

Courage

• Deliver work to the best of your ability and present it with confidence.

Respect

• Maintain professionalism and respect towards colleagues, clients, and company procedures.

Passion

• Be ambitious for clients, brands, colleagues, and yourself.
• Strive for excellence without politics or self-interest.

Financial consciousness

• Ensure clients receive value for money and that budgets are approved before commencing work.

Fulfilment

• Achieve tasks in the most effective and efficient manner.

Integrity

• Build trust with clients by prioritising their needs over personal gain.

Collaboration

• Work together across disciplines, departments, and geographies to achieve common goals.

Posted on 20 Feb 15:52, Closing date 21 Mar