Mbalenhle Golding CA(SA)
Chief Financial Officer
Johannesburg
Summary
Knowledgeable Chief Financial Officer with strong background in financial leadership and strategic planning. Successfully led financial transformations and streamlined operations to enhance profitability. Demonstrated expertise in financial analysis and risk management.
Overview
19
19
years of professional experience
Work History
Chief Financial Officer
South African Maritime Safety Authority
01.2024 - Current
- Provide strategic leadership, support and guidance regarding all financial activities, including accounting, budgeting, forecasting and record keeping;
- Support for overall company strategy and developing the financial strategy and roadmap in conjunction with the CEO, Board and other Executives to align financial strategies with the organisation’s overall objectives;
- Develop and implement the organisation’s funding model and financial sustainability framework to ensure long term profitability and sustainability;
- Develop a capital expenditure plan to ensure sufficient funding and response capability for the maritime domain awareness in responding to incidents at sea;
- Maintenance of a three months cash cover through effective management of the organisation’s cash flow to ensure sufficient liquidity for day to day operations;
- Financial risk management and provisioning of adequate, efficient, and effective system of financial controls, budget, policies, processes and internal controls;
- Oversee the development and implementation of an SCM strategy, policies and procedures in accordance with the PFMA and Treasury Regulations in enabling the organisation in sourcing goods and services;
- Ensuring that the organisation has an established and effective supply chain management system to enable delivery of the mandate of the organisation in an efficient and cost effective manner;
- Preparation and presentation of financial reports to the Executive Committee, Finance and ICT Committee, Audit and Risk Committee, Board, Minister, Parliament to assist the organisation in making informed decisions;
- Smooth running of internal and external audits, and development and implementation of action plans to address control weaknesses where necessary and ensure adherence thereto.
- Preparation of interim and Annual Financial Statements in compliance with Generally Recognised Accounting Practice;
- Ensure compliance with all financial regulations and reporting frameworks;
- Management and supervision of the Finance, SCM and Facilities teams at Head Office and across Regional Offices;
Acting Chief Executive Officer (12 Months)
South African Maritime Safety Authority
01.2024 - 2025
- Lead and manage SAMSA for effective execution of its vision, mission, and strategic objectives;
- Position SAMSA as a key strategic organisation for the attainment of national, economic and transformational goals;
- Provide leadership within SAMSA to achieve transformation, empowerment, capacity building and service delivery;
- Manage inter-governmental developments and relationships to achieve collective execution of maritime goals while complying with International Conventions;
- Developing and upholding the organisation’s culture and ensuring ethical conduct and corporate responsibility;
- Work effectively with the SAMSA Board, management, shareholder, staff and stakeholders to achieve SAMSA’s mandate.
- Managed high-performing teams to successfully execute corporate objectives and drive organizational success.
- Built productive relationships with industry partners and competitors to support strategic business objectives.
- Reviewed individual department performance and worked with leadership to improve processes, procedures, and practices.
- Implemented strong financial controls, ensuring accurate reporting and solid decision-making capabilities.
- Streamlined operations for improved efficiency, reducing overall costs and increasing profitability.
Chief Financial Officer
National Heritage Council
01.2023 - 01.2024
- Development of the organisation’s strategy as well as resourcing of the strategic objectives in a sustainable manner;
- Oversee the implementation of effective financial controls;
- Implement an effective financial management system, inclusive of financial management policies and procedures, supply chain management system, internal control mechanisms and anti-corruption measures;
- Provide financial management reports to all stakeholders;
- Ensure compliance to the financial management legislative framework (Constitution, PFMA, Treasury Regulations);
- Develop, implement and maintain a long term financial sustainability model;
- Planning, organising and controlling of all activities of the corporate services unit, supply chain management, accounting and financial reporting, budgeting, information technology, and payroll;
- Co-ordinate and prepare all aspects of the annual operating budget, capital budget, and five year forecast as well as preparation of Annual Financial Statements in accordance with GRAP;
- Ensure that the organisation is managed on sound financial and business principles;
- Manage resources and prevent unauthorised, irregular and fruitless and wasteful expenditure;
- Develop and implement risk management activities;
- Present financial reports at Council, Committee and Parliament meetings, providing insightful recommendations backed by thorough analysis.
Chief Financial Officer
Gauteng Tourism Authority
01.2018 - 01.2023
- Managing the finance, supply chain, payroll, risk, external and internal audit functions;
- Prepare and present the Quarterly and Annual Financial Statements and other financial reports to the audit committee, board of directors, MEC and Legislature;
- Develop the strategic and operational risk register of the organisation with related action plans, and reporting thereof on a quarterly basis to the audit committee, board of directors and MEC;
- Develop the external audit and internal audit action plans for reporting to the audit committee, board of directors, Gauteng Treasury and MEC;
- Develop the strategic plan, annual performance plan and operational plan of the finance, supply chain, payroll, risk and internal audit functions;
- Report on operational activities, efficiencies, and variances in line with laws, regulations and policy;
- Develop and implement the organisational financial plans in alignment with the approved organisational strategy;
- Implement continuous financial auditing and control systems to evaluate and monitor organisational performance;
- Monitor and report on all accounting irregularities, non-compliance and gaps which are related to financial systems and processes, and recommend corrective measures;
- Develop and maintain working relationships with stakeholders;
- Prepare budget and monthly forecasts and proactively manage the annual budgeting process;
- Driving a cost discipline culture in the organisation and implementation of best practice;
- Ensure the existence of robust financial risk management strategies and policies to mitigate against risks that face the organisation;
- Enforcing corporate governance in financial decision making;
- Developing all finance, supply chain, risk and fraud policies and operating procedures.
Chief Director Financial Accounting; Acting Chief Financial Officer
National Department of Water and Sanitation
01.2016 - 01.2018
- Acting as the Group Chief Financial Officer for both the Department and its Water Trading Entity, which included management of revenue generation, financial accounting, management accounting, supply chain, internal control, accounts payable, payroll, debtors and risk units and a staff compliment of over 150 employees which span over all 9 provincial offices.
- Preparation of consolidated Annual Financial Statements and Quarterly Financial Statements;
- Preparation of the year end Annual Report;
- Managing the internal audit and external audit process;
- Presentation of financial reports to executive committees which include Parliament, National Treasury, Audit and Risk Committees and Top Management;
- Budgeting and forecasting;
- Project management (managed 4 projects on behalf of the CFO – commitments project, drought project, turn-around strategy, infrastructure funding);
- Preparation of the strategic plan and operational plan of the Finance branch;
- Chairperson and project leader of the Departmental Financial Turn-around task team appointed by the Minister of Water and Sanitation and the Minister of Finance;
- Preparation of the Minister’s finance documents (including the budget vote speech) for presentation in Parliament;
- Member of the back-office committee appointed by the Minister to support the Director General;
- Preparation and implementation of policies for an effective internal control environment within the Department.
General Manager – Finance; Finance and Operations Manager
Imperial Automotive Retail
01.2014 - 01.2016
- Preparation of annual financial statements;
- Managing the reporting, debtors, creditors and cashbook departments;
- Implementation and functional design of new accounting systems;
- Carry out monthly review of accounts;
- Draw up budgets and ensure adherence;
- Preparation of monthly management packs;
- Review of monthly reconciliation files;
- Preparation of the annual tax pack, monthly VAT reporting, and deferred tax;
- Management of treasury functions including cash flow forecasts and payment authorisations;
- Management of the external and internal audit requirements;
- Management of key risk areas within the business;
- Development and implementation of policies;
- Monthly sustainability reporting;
- Assume responsibility of special projects as defined by the Management team from time to time;
- Assist financial staff with implementing and maintaining sound financial controls;
- Preparation of daily and weekly Income Statement forecasts ;
- Management of change of accounting system to SAGE X3;
- Project management of establishment of new fleet entity and consortium called Lereko Fleet Management;
- Management of the Transnet contract worth R7 billion.
Director of Finance – Financial and Management Accounting; Acting Chief Financial Officer
Gauteng Office of the Premier
01.2012 - 01.2013
- Acting as the Chief Financial Officer for one year;
- Managing the financial and management accounting units;
- Develop, implement and manage the unit’s strategic and operational plans;
- Manage the Financial Accounting and Management Accounting units with a staff compliment of 11 people;
- Ensure the Office obtains an unqualified audit opinion through strengthened internal controls;
- Development of internal policies to support financial management and prevent financial risk;
- Implementation of cost saving initiatives;
- Review and implementation of new financial systems and tools;
- Preparation of quarterly and annual financial statements;
- Preparation of the budget for the Office of the Premier;
- Preparation of monthly budget forecasts;
- Preparation of monthly financial reports for the Executive Management Team.
Trainee Auditor, Audit Manager
Auditor General of South Africa
01.2010 - 01.2012
- Managing the audit process from start to finish;
- Engaging with various levels of management and internal auditors throughout the audit process in audit steering committee meetings and audit committee meetings;
- Supervising the audit team and reviewing the work performed;
- Drafting the management report, audit report, and communication of audit findings;
- Developing audit strategies.
Trainee Auditor
Pricewaterhouse Coopers
01.2007 - 01.2009
- Performed accounting and advisory services including preparing company and consolidated financial statements;
- Performed substantive tests of detail, tests of controls and substantive analytical procedures on various account balances, evaluating controls and the control environment.
Education
Chartered Accountant -
South African Institute of Chartered Accountants
04.2001 -
BCompt Honours -
UNISA
01-2009
BCom Accounting -
University of The Witwatersrand
01-2006
Matriculated with distinction -
Ferrum High School
01-2002
Skills
Good understanding of financial management, tax, financial accounting, auditing, risk, supply chain management, and strategic planning;
Technical competence and application of the Public Finance Management Act (PFMA), Municipal Finance Management Act (MFMA), Generally Recognised Accounting Practice (GRAP), Modified Cash Standards (MCS), Treasury Regulations and Instruction Notes, International Financial Reporting Standards (IFRS), SA Companies’ Act, and International Standards of Auditing (ISA);
Practical knowledge of both the private and public sector obtained through work experience in both sectors;
Business etiquette drawn from interaction with client personnel and external stakeholders ranging from administrative staff to members of Parliament;
Strong writing and presentation skills which include presentation of reports to legislative bodies and the global community;
Project management skills gained from various projects managed over my career;
Ability to pro-actively identify and mitigate risks of non-compliance with laws and regulations gained from my experience as an external auditor in both the private and public sector
Accomplishments
- Appointed as Acting Chief Executive Officer for the South African Maritime Safety Authority (SAMSA) for 12 months October 2024 to September 2025;
- Successfully led the re-instatement of South Africa to the Internation Maritime Organisation Council for the 2026/27 term after a four year absence;
- Improved the organisational performance for SAMSA while acting as the CEO, resulting in an 80% performance in the 2024/25 financial year, recorded as the organisation’s highest performance in six years;
- Improved the financial performance for SAMSA while acting as the CEO in the 2024/25 financial year, resulting in a 7 months cash cover which was the highest recorded in six years;
- Improved the audit outcome for SAMSA while acting as the CEO in the 2024/25 financial year, with no material findings in revenue, debtors, procurement; contract management and ICT for the first time in six years;
- Turning around the National Heritage Council financial performance and audit outcome after it had been under administration two times;
- Member of the Department of Economic Development’s Deal Team workstream under the War Room responsible for turning business proposals into bankable projects;
- Delivered three consecutive clean audit reports with no material findings for the Gauteng Tourism Authority from the 2018/19 financial year;
- Acted as the Chief Executive Officer for the Gauteng Tourism Authority;
- Acted as Group Chief Financial Officer for the Department of Water and Sanitation and the Water Trading Entity;
- Turning around the audit report of the Department from a qualified audit to an unqualified audit for the first time in eight years;
- Appointed as Chairperson of the Department of Water and Sanitation’s Financial Turn-Around task team reporting to the Minister of Finance;
- Promoted to General Manager: Finance for Lereko Fleet Management;
- Acted as the Chief Financial Officer and Deputy Director General of Corporate Services for the Office of the Premier;
- Passed Part 1 and Part 2 of the Qualifying Examinations at first attempt.
BOARD OF DIRECTORS MEMBERSHIP
1 December 2023 to date: Non-Executive Board Member
Netball South Africa Investment Group
Responsibilities:
- Instituting corporate governance within the entity;
- Risk management and oversight functions;
- Review of financial reports;
- Commercialisation of Netball South Africa;
- Sourcing partnerships and funding for Netball South Africa.
1 Jan 2014 to 30 June 2015: Non-executive Board Member; Risk and Finance Committee Member
People Opposing Women Abuse (POWA)
Responsibilities:
- Oversee POWA’s relationship with the external auditor and the external audit function generally;
- Oversee the preparation of the financial statements and reports;
- Oversee financial controls and systems;
- Manage the process of identification and management of risk.
References
- Tau, Morwe, Deputy Chairperson of the Board, 081 759 9993, South African Maritime Safety Authority
- Sthembiso, Dlamini, Chief Executive Officer, 083 516 3867, Gauteng Tourism Authority
- Zandile, Makhathini, Acting Director General, 0825722313, Water and Sanitation
Timeline
Chief Financial Officer
South African Maritime Safety Authority
01.2024 - Current
Acting Chief Executive Officer (12 Months)
South African Maritime Safety Authority
01.2024 - 2025
Chief Financial Officer
National Heritage Council
01.2023 - 01.2024
Chief Financial Officer
Gauteng Tourism Authority
01.2018 - 01.2023
Chief Director Financial Accounting; Acting Chief Financial Officer
National Department of Water and Sanitation
01.2016 - 01.2018
General Manager – Finance; Finance and Operations Manager
Imperial Automotive Retail
01.2014 - 01.2016
Director of Finance – Financial and Management Accounting; Acting Chief Financial Officer
Gauteng Office of the Premier
01.2012 - 01.2013
Trainee Auditor, Audit Manager
Auditor General of South Africa
01.2010 - 01.2012
Trainee Auditor
Pricewaterhouse Coopers
01.2007 - 01.2009
Chartered Accountant -
South African Institute of Chartered Accountants
04.2001 -
BCompt Honours -
UNISA
BCom Accounting -
University of The Witwatersrand
Matriculated with distinction -
Ferrum High School