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CENTRAL ENERGY FUND (CEF)
 
PETROSA GROUP CHIEF FINANCIAL OFFICER 
(5-year contract) 
 
The Petroleum Oil and Gas Corporation of South Africa (SOC) Limited (PetroSA) is the national oil company of South Africa and is registered as a commercial entity under South African law. PetroSA is a subsidiary of the Central Energy Fund (CEF), which is wholly owned by the State and reports to the Department of Energy. The company holds a portfolio of assets that spans the petroleum value chain, with all operations run according to world-class safety and environmental standards. PetroSA was formed in 2002 upon the merger of Soekor E and P (Pty) Limited, Mossgas (Pty) Limited and parts of the Strategic Fuel Fund, another subsidiary of CEF. 
 
 
MAJOR RESPONSIBILITIES INCLUDE 
 Provide strategic financial leadership and advise the GCEO, EXCO and the Board, as a subject matter expert, on the financial implications of the strategic business developments, key corporate planning, issues and, keep them informed about business activities, tax analysis, investments, treasury management, mergers and acquisitions, hedging and insurance, 
 Responsible for managing group supply chain management and information services performance, opportunities and 
 Recommended courses of actions to ensure PetroSA achieves its strategic, specific financial objectives, including cost containment strategies and targets aligned to the PFMA (Public Finance Management Act), the Companies Act and any other relevant legislation and governance frameworks to enable PetroSA to achieve its strategic objectives 
 Shape, assume accountability and lead the execution of the company’s consolidated financial budget and directs the process to ensure high integrity enterprise consolidated monthly financial reports / results and year end forecasts to the executive and develop and implement the Division’s overall strategy and setting of business targets in order to realize stakeholder value and ensure PetroSA’s sustainability and growth aligned to company policies, processes and systems 
 Lead, assume accountability and direct mergers and acquisitions to ensure an integrated approach is followed and risks are managed to ensure both a successful M&A initiative and increased shareholder value 
 Lead, direct and assume accountability for the insurance portfolio of PetroSA to ensure that Enterprise assets are covered at replacement cost and loss of profits are covered at actual losses. 
 Lead, direct, assume accountability for group supply chain management and monitor the procurement of transactional goods and services according to procurement regulations and best practice to ensure an efficient supply chain process, with minimum risk in compliance with PetroSA procurement policies and procedures and governance 
 Developing strategies and mitigating factors to address some of the following risks: 
  • Non- compliance to financial regulations 
  • Keeping abreast of national and global changes and trends 
  • Conforming to GAAP Compliance to strict legislation governing procurement and continuous changes 
  • Levels of authority delaying progress Increasing risk of security of supply Continuous threat of litigation 
  • Controlling spending and improving profitability 
  • Compliance to strict legislation governing procurement and continuous changes Levels of authority delaying progress Continuous threat of litigation 
  • Risk of potential corruption 
  • Lack of focus and prioritisation on projects 
 
QUALIFICATIONS AND EXPERIENCE 
 10 – 15 years’ senior financial experience in a corporate environment, specifically interfacing between the GCEO and Board Experience in the Energy industry will be an added advantage 
 Upstream and Downstream experience will be an added advantage, 
 Must demonstrate exceptional business acumen, leadership and entrepreneurial flair and being able to adapt to a volatile and ever-changing Petrochemical industry 
 An astute business person with Business turnaround and transformation experience 
 Practical leadership skills, experience and a demonstrable track record in managing a large and complex organisation with results-driven delivery record 
 Experience and Ability to interface with government, regulatory authorities and the energy sector nationally and internationally


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PERSONAL ATTRIBUTES (CRITICAL FOR SUCCESS) 
 High level of integrity, initiative and passion; 
 A high level understanding of growth and development processes and strategies, especially in the area of maximizing the value of infrastructure. 
 Extensive experience in managing and controlling all strategic and business aspects of a company 
 Broad understanding of development economics and industrial strategy; 
 Understanding of PFMA and treasury regulations; 
 Understanding of King III and IV report on corporate governance. 
 Excellent negotiation skills with persuasive and influential communication skills 
 Developing a wide range of relationships and networks with local stakeholders and various institutions 
 Excellent leadership qualities including sound ethical practice; 
 Commitment to stakeholder processes and accountability; 
 
 
Preference will be given to candidates from designated groups in terms of national labour legislation. A remuneration package will be negotiated to attract the best available candidate. Shortlisted candidates will be required to undergo security vetting process 
 
The closing date for all applicants is 15th November 2019 
 
Please submit a detail Curriculum Vitae (CV) to KentseR@cefgroup.co.za