MCDONALD LETLHOGONOLO TISANE
Mogale City
Summary
An accomplished finance professional with substantial experience of over 25 years leading large and complex operational projects. This diverse experience was attained from working and setting up new projects in the construction and mining projects in the following areas: roads & earthworks, civil engineering, Building, opencast-mining, and Housing Development. Invaluable experience in maintaining adequate financial records in complex multi-currency consolidations.
Experience was gained in delivering multi-disciplinary projects in RSA, Botswana, Namibia, Mozambique, and the St Helena Airport Project on the remote Island of St Helena. Oversight over contracts in Zambia, Malawi, Jamaica, and Sierra Leone.
Lead the financial function of the business units to meet organizational objectives in a manner that ensures profitability and sustainability in line with sound financial practices and internationally accepted accounting standards.
A hands-on leader of multi-site, multi-disciplinary, and multi-cultural teams, with a B-Tech in Cost and Management Accounting. Proven experience in team leadership, coordinating and concluding complex tasks based on strong expertise in project finance, financial control, and auditing.
During this very productive, exciting, and multi-faceted career chapter, having achieved many milestones, possibly the pinnacle of which is being appointed as Finance Director for Basil Read St Helena managing revenue of R 5.8 billion in multi-currency.
Overview
27
27
years of professional experience
4
4
years of post-secondary education
Work History
ERP System Implementation
BHM Construction UK Limited (Ghana Branch)
Tema
05.2024 - 08.2024
- To continue development of Buildsmart ERP system, paying initial urgent attention to core accounts functions (Workflows, AP, AR, Inventory, Assets and Plant) ensuring base data and parameters have been set up properly
- Thereafter to extend suite into Payroll and Candy Services (Estimating, Planning, Budgeting etc.)
- Through Buildsmart ensure AP process for Company operates effectively, liaising with UK office to ensure payments are made on time
- Procurement Module - Utilizing Buildsmart ensures Company requisition and purchasing order processes are working effectively
- By using Buildsmart ensure Company Monthly account reports, P&L, Cashflow etc. are produced
- Train staff on functionalities of system
- Contributed to successful ERP system implementation projects by providing subject matter expertise on financial data migration requirements.
- Assisted with the implementation of new software systems, actively participating in training sessions and providing feedback on user experience for further enhancements.
- Oversaw the implementation of electronic invoicing systems, leading to increased efficiency and reduced paper waste within the AP department.
- Assisted in the successful implementation of a new accounting software system, facilitating smoother operations and more accurate reporting.
- Assisted in the successful implementation of a new accounting software system, resulting in improved productivity and streamlined workflow.
Financial Manager
CODEVCO
Roodepoort
04.2017 - 04.2022
- Sales and contract management (local government, subcontractors, and other stakeholders)
- Procurement, estimating and tendering activities
- Financial modelling of potential projects and developments, updating with latest data and projections
- Interrogating and improving internal controls and operating procedures
- Improve efficiencies and reduce company costs
- Ensure adherence to Group financial systems and processes
- Production of monthly Management accounts in providing accurate and sound management reporting to assist with key decision making
- Preparation of monthly reconciliations of all accounts & balance sheet
- Produce month end and year journals
- Oversee cashflow management
- Production of financial forecasts such as annual budgets and cash flows for strategic planning and manage projects cost and forecasting to ensure that project costs do not overrun
- Mentor individuals to enhance their knowledge, skills, values, and attitudes and conduct on job coaching and training
- Ensuring bi-annual audit readiness, liaising with auditors on matters of compliance, audit papers and recommendations
- Periodical review of budgets and forecasts for Business Unit and individual developments
- Financial Risk Management assessments, analyses of developments and reporting to Managing Director and Group CEO on these and other operations
- Stakeholder relations (Local Community Forums and Government Officials)
- Member of Group EE Committee
- Assisting with Board Packs
- Tax structuring for entities
- Monthly and bi-monthly VAT submissions
- Annual Income tax submissions
- Provisional tax submissions.
- Prepared comprehensive financial statements for executive review, aiding in effective decision-making processes regarding growth opportunities and resource allocation.
- Analyzed budgets, financial reports and projections for accurate reporting of financial standing.
- Drafted reports for leadership for use in strategic planning and decision making.
- Reduced outstanding accounts receivable balances by consistently following up on overdue payments and negotiating payment plans with clients.
- Developed and presented financial data, financial statements and variance narratives to Board of Directors and Board of Trustees.
- Forecasted operating costs for scheduled projects by strategizing with other departments.
- Managed team of [Number] finance and operations professionals, with day-to-day responsibility for contracting, order processing, forecasting, budgeting, reporting and analysis.
- Developed and maintained financial models for forecasting, enabling more accurate predictions of future revenue and expenses.
- Managed accounting-team data using Buildsmart, entering and organizing financial date, adjustments and monthly accrual information.
Head of Finance Construction
Basil Reads Construction and Basil Read St Helena
Roodepoort
10.2015 - 03.2017
- Production of financial forecasts such as annual budgets and cash flows for strategic planning and manage projects cost and forecasting to ensure that project costs do not overrun
- Attend to tax compliance matters in ensuring that the review of statutory requirements in as far VAT 201, PAYE 201 & 501 and Income Tax submissions is performed on time and accurately
- Take full responsibility for external audits and clean audits
- This done so by ensuring that internal control systems are effective to comply with audits test of controls
- Alignment of the business units to the overall group strategy and policy changes
- Manage the treasury function which encapsulate the cash book activities by making sure that full bank and cash book reconciliations are compiled on time and accurately
- Manage and maintain fixed asset registers for all plant and equipment's (total fleet) and ensuring that company assets are utilized effectively and efficiently to maximize return on investments
- Supervise and manage accounts receivable and payable functions within the finance department and oversee the general ledger reconciliations up to balance sheet.
- Provided senior management with strategic financial insights for informed decisionmaking.
- Managed budgeting process, ensuring accurate forecasting and timely adjustments to meet business needs.
- Collaborated with cross-functional teams to align financial goals with overall company objectives.
- Strengthened communication between finance department and other business units, fostering an environment of collaboration across the organization.
- Oversaw annual audit process, ensuring accurate representation of financial position in accordance with GAAP standards.
- Reduced overhead costs by identifying inefficiencies and implementing cost-saving measures.
- Developed finance team talent through targeted training programs and regular performance evaluations.
- Ensured compliance with all regulatory requirements by staying abreast of industry changes and updating policies accordingly.
- Enhanced financial reporting accuracy through the development of comprehensive internal controls.
- Implemented risk management practices to mitigate potential losses and safeguard company assets.
- Prepared monthly reconciliation of bank accounts and took corrective actions on deviations.
- Analyzed financial statements against forecasts to prepare high-level variance analysis.
- Assisted with recruiting, interviewing, and hiring new department employees.
- Prepared cash flow projections, cost analysis and monthly, quarterly and annual reports.
- Implemented and regularly reviewed financial controls to generate accurate and reliable financial data.
- Supported financial director with special projects and additional job duties.
- Complied with established internal controls and policies.
- Checked payroll, vendor payments, commissions and other accounting disbursements for accuracy and compliance.
- Utilized financial software to prepare consolidated financial statements.
- Created financial dashboards to provide insights into key performance indicators.
- Established and checked coding procedures, monitored reports and updated internal files.
Finance and Administration Manager
Basil Read St Helena Airport on St Helena Island
LONGWOOD
05.2012 - 10.2015
- Project value was R 5 billion
- Ensure a close working relationship with the Island Director, other Finance Seniors and Executives in SA
- Provide advice to the Island Director, to optimize the company's financial performance
- Develop and implement a strategy of action plans for the project & finance department and planning strategically by driving the financial objectives of the business and analyse the profitability of projects
- Consolidate accounts into the income statement and balance sheet
- Prepare weekly and monthly management report for presentation; ensure accurate analysis of projects results and for inclusion in the group published accounts (Annual Financial Statements)
- Manage & implement changes to financial framework & lead the financial auditing process (internal & external), ensuring all controls are maintained & liaison with stakeholders: external auditors, tax consultants etc
- To meet statutory compliance matters
- Manage and lead project activities and oversee the entire financial management, reporting, tax, cost control and administration
- Responsible for setting up and maintaining the accounting framework for the organization, auditing, controls, and statutory compliance
- Mentor individuals to enhance their knowledge, skills, values, and attitudes and conduct on the job coaching and training
- Support function to operations and assist in developing strategy and business development
- Alignment of the project to the overall group strategy and policy changes or expansion plans
- Part of the team that strategically planned procurement for materials required
- Overseeing the material Forecasts, Procurement, Management and Distribution of R 18m of stock
- Pricing of New Tenders /Projects on Island.
Cost Control and Administrative Manager
Basil Reads Construction
Boksburg
03.2008 - 04.2012
- Responsible for all aspects regarding Construction Finance's and oversight over all contracts
- Management oversight of the site cost control
- Preparation of Monthly Management Accounts, including assisting with Group Consolidation
- Setup and maintenance of system processes
- Streamlining and optimizing month end process.
Cost Control and Administrative Manager
Basil Read Mining
Francistown
05.2005 - 02.2008
- Setting up Joint Venture (with local company) operations in Botswana - Debswana Orapa Mine, Damtshaa and Letlhakane
- Setting up project operations in Namibia - Rossing Uranium Mine
- Setting up of the day-to-day Project Cost Control & Finance function and procedures, including AP, AR, Payroll, Tax Compliance, external audit assistance, Insurance & Risk, internal controls, Treasury & cashflow management, Project reporting and Company reporting, Budgeting & analysis, and establishing internal & external stakeholder relationships.
Cost Control and Administrative Manager
Basil Read Group, Roads and Civil Division
Bedfordview
12.2000 - 05.2005
- Responsible for all aspects regarding Construction Finance's and oversight over all contracts
- Management oversight of the site cost control
- Preparation of Monthly Management Accounts, including assisting with Group Consolidation
- Setup and maintenance of system processes
- Streamlining and optimizing month end process.
Asst. Divisional Cost Controller, Site Cost Controller to Cost Control Manager
Basil Read Roads, Building and Civil Division
Bedfordview
09.1997 - 11.2000
- Authorizing invoices for sites / projects
- Compiling monthly Cost Repots and monitoring the application of policies and procedures to control and analyze cost variances
- Process WIP journals for individual contracts, overheads journals and reallocation journals for mis-allocated costs
- Check monthly variances for material, fuel & labour cost and attend to and resolve queries
- Processing all relevant sites data to generate cost for each site and Reconciling site cost against the contract ledger
- Making out requisitions for site/contract and ensuring that external plant time sheets are accurate and signed
- Ensure that all site assets (Electronic, Lab equip, etc.) are correctly registered and supervising fuel issue on a daily basis and make out fuel consumption report for each plant
- Project site costing, overall site administration for subcontractor claims and suppliers and wages costing for hourly paid workforce on the project
- Assist operations team of quantity surveyors and project managers with work measure, variance analysis and costing
- Assist Estimating team of quantity surveyors and project managers with new tender pricing
- Preparation of annual forecast/budget and activity margin reports and ensure that the plant asset register is accurate and up to date.
Education
Bachelor of Technology - Cost And Management Accounting
DURBAN UNIVERSITY OF TECHNOLOGY (ML SULTAN TECHNIK
Durban 01.1996 - 06.1997
National Diploma - Cost And Management Accounting
DURBAN UNIVERSITY OF TECHNOLOGY (ML SULTAN TECHNIK
Durban 01.1993 - 11.1995
Skills
Project Estimation
undefinedTimeline
ERP System Implementation
BHM Construction UK Limited (Ghana Branch)
05.2024 - 08.2024
Financial Manager
CODEVCO
04.2017 - 04.2022
Head of Finance Construction
Basil Reads Construction and Basil Read St Helena
10.2015 - 03.2017
Finance and Administration Manager
Basil Read St Helena Airport on St Helena Island
05.2012 - 10.2015
Cost Control and Administrative Manager
Basil Reads Construction
03.2008 - 04.2012
Cost Control and Administrative Manager
Basil Read Mining
05.2005 - 02.2008
Cost Control and Administrative Manager
Basil Read Group, Roads and Civil Division
12.2000 - 05.2005
Asst. Divisional Cost Controller, Site Cost Controller to Cost Control Manager
Basil Read Roads, Building and Civil Division
09.1997 - 11.2000
Bachelor of Technology - Cost And Management Accounting
DURBAN UNIVERSITY OF TECHNOLOGY (ML SULTAN TECHNIK
01.1996 - 06.1997
National Diploma - Cost And Management Accounting
DURBAN UNIVERSITY OF TECHNOLOGY (ML SULTAN TECHNIK
01.1993 - 11.1995
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