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TRANS-CALEDON TUNNEL AUTHORITY (TCTA) – INVITATION TO APPLY FOR APPOINTMENT TO THE TCTA BOARD FINANCE COMMITTEE
TRANS-CALEDON TUNNEL AUTHORITY (TCTA)
INVITATION TO APPLY FOR APPOINTMENT TO THE TCTA BOARD FINANCE COMMITTEE
TCTA seeks to appoint an independent suitably qualified person with knowledge of financial accounting, finance, supply chain management and PFMA to serve as a co-opted specialist on the TCTA Board Finance Committee.
ESSENTIAL REQUIREMENTS:
• A qualified Chartered Accountant, CA (SA);
• At least 10 years’ experience in any of the following fields: Financial Management and Accounting, Public Sector Supply Chain Management (SCM), Budgeting, Performance Management and Internal Control is a pre-requisite;
• Project Finance or Treasury experience will be an advantage;
• Knowledge and understanding of and exposure to legislation (PFMA, IFRS, GRAP, Treasury regulations and other relevant legislation);
• Good communication skills;
• Experience serving on a Board or Board Committees;
• Previous experience in the service of Finance Committee and investments (at least 2 years); and
• Applicants must not be in the employ of any Government or public sector institution.
KEY OUTPUTS:
The Finance Committee has an independent role, providing an oversight role with accountability to the Board. The roles and responsibilities are clearly defined in the approved Terms of Reference.
The main roles, amongst others, include the following:
• Provide strategic direction on financial and strategic matters;
• Review and recommend financial, supply chain and investment policies, strategies and best practices;
• Ensure systems, processes and procedures and monitor adherence to financials, and SCM polices;
• Oversee strategic asset allocation for surplus funds against medium term expenditure framework;
• Review the adequacy of existing financing facilities and monitor the need for any additional financing;
• Monitor compliance with loan facility covenants;
• Ensure sufficient financial and human resources to manage financial and investment risk profiles;
• Monitor and review quarterly financial reports for adherence to the approved Treasury frameworks;
• Consider the corporate budget borrowing programme, the capital expenditure and the operation and maintenance plan;
• Consider strategic procurement, finance and treasury policies, funding strategies and frameworks;
• Review the proposed annual operating budget and quarterly budget variances as deemed appropriate;
• Co-ordinate the budget review process with other committees to ensure that their concerns are addressed;
• Consider the annual short, medium and long-term funding strategies;
• Consider tender probity reports in line with the delegation of authority;
• Consider project funding models;
• Consider the framework for annual tariff consultations; and
• Report to the Board any significant audit findings related to finance, investments and SCM.
• Provide strategic direction on financial and strategic matters;
• Review and recommend financial, supply chain and investment policies, strategies and best practices;
• Ensure systems, processes and procedures and monitor adherence to financials, and SCM polices;
• Oversee strategic asset allocation for surplus funds against medium term expenditure framework;
• Review the adequacy of existing financing facilities and monitor the need for any additional financing;
• Monitor compliance with loan facility covenants;
• Ensure sufficient financial and human resources to manage financial and investment risk profiles;
• Monitor and review quarterly financial reports for adherence to the approved Treasury frameworks;
• Consider the corporate budget borrowing programme, the capital expenditure and the operation and maintenance plan;
• Consider strategic procurement, finance and treasury policies, funding strategies and frameworks;
• Review the proposed annual operating budget and quarterly budget variances as deemed appropriate;
• Co-ordinate the budget review process with other committees to ensure that their concerns are addressed;
• Consider the annual short, medium and long-term funding strategies;
• Consider tender probity reports in line with the delegation of authority;
• Consider project funding models;
• Consider the framework for annual tariff consultations; and
• Report to the Board any significant audit findings related to finance, investments and SCM.
APPLICATION PROCESS:
Applications should be submitted in writing, and must include the following documents:
• Letter of motivation, not exceeding two pages;
• Detailed Curriculum Vitae, including the names and contact details of two referees;
• Proof of South African citizenship (copy of Identity Document);
• Certified copies of qualification certificates;
• Disclosure of interest and information declarations (applicable declarations forms should be downloaded from the “careers" page at www.tcta.co.za)
Applicants should note the following:
• The term of office runs concurrently with the term of the current Board, which expires on 30 April 2022;
• Appointment of the preferred candidate will be subject to the verification of qualifications, probity and reference checks as well as security clearance;
• Preference will be given to candidates whose appointment will enhance representivity; and
• Correspondence will be limited to short-listed candidates only.
Applicants who do not receive a response within 4 weeks of the closing date must regard their applications as unsuccessful. TCTA reserves the right not to appoint.
Enquiries may be directed to the Corporate Secretariat at the following email address: mramonyai@tcta.co.za
APPLICATIONS AND CLOSING DATE: FRIDAY, 07 AUGUST 2020 AT 17H00
APPLICATIONS SHOULD BE SUBMITTED TO fcapplications@tcta.co.za