Msizi Gerald Ngcobo
Chief Financial Officer
Gillitts
Summary
Dedicated Chief Financial Officer familiar with financial decision making and company-wide policy development. Talent for overcoming operational issues and driving proactive improvements. Offering 12 years' experience in financial leadership.
Knowledgeable with strong background in financial leadership and strategic planning. Successfully led financial transformations and streamlined operations to enhance solvency and liquidity of the municipality. Demonstrated expertise in financial analysis and risk management.
Driven and analytical with robust understanding of financial strategies and operations, including budgeting and forecasting. Adept at implementing financial controls and risk management frameworks to ensure fiscal stability and compliance. Committed to driving financial performance and strategic growth through effective financial planning and management.
Overview
13
13
years of professional experience
3
3
years of post-secondary education
3
3
Languages
Work History
Chief Financial Officer
Richmond Local Municipality
11.2018 - Current
- Introduced internal controls transformation project which saw the municipality achieving clean audit
- Streamlined financial processes by implementing new accounting software and automation techniques.
- Directed budget development, budgetary controls and recordkeeping to make informed financial decisions.
- Tracked cash flow and financial planning to analyze company's financial strengths and weaknesses and propose strategic directions.
- Conducted detailed analysis of financial information and oversaw preparation of related reports.
- Oversaw accounts payable and receivable to track income and expenditures, drive statutory compliance and provide quantitative financial information.
- Ensured accurate financial reporting, maintaining compliance with GRAP and internal policies.
- Managed complex capital projects from inception through execution, ensuring timely completion within budget constraints.
- Championed effective communication between finance personnel and other departments to facilitate cross-functional collaboration on projects and initiatives.
- Established strong relationships with external stakeholders, including the Provincial Treasury, National Treasury and other Sector Departments to promote transparency and build trust in the organization's financial management.
- Collaborated with executive leadership to establish budgetary guidelines and allocate resources efficiently across the organization.
- Directed budget development, creation of budgetary controls and recordkeeping systems and investment management.
- Oversaw deployment of strategic business plans to accomplish accounting, compliance, and revenue targets.
- Prepared accurate financial statements at end of quarter to summarize financial health and business performance.
- Managed risk effectively through comprehensive insurance coverage review and implementation of robust internal controls.
- Fostered a culture of continuous improvement within the finance team, encouraging professional development opportunities for staff members.
Acting Chief Financial Officer
Mpofana Local Municipality
02.2018 - 10.2018
- Ensure adherence to the Municipal Finance Management Act and other Treasury Regulations
- Align IDP with budget
- Ensure adherence to GRAP
- Preparation of Financial Statements in line with GRAP
- Implement sound financial controls and systems
- Manage Supply Chain Management processes
- Implement asset management strategies
- Develop capital operational financial strategies
- Develop accounting management system
- Implement revenue raising strategies and revenue collection strategy
- Salaries and wages, investments - Bank and cash resources
- Management of short and long term liabilities
- Assist Internal and External Auditors in audit execution
- Human resource management
- Monitor budget
Acting Chief Financial Officer
Umkhanyakude District Municipality
04.2016 - 08.2017
- Ensure adherence to the Municipal Finance Management Act and other Treasury Regulations
- Align IDP with budget
- Ensure adherence to GRAP
- Preparation of Financial Statements in line with GRAP
- Implement sound financial controls and systems
- Manage Supply Chain Management processes
- Implement asset management strategies
- Develop capital operational financial strategies
- Develop accounting management system
- Implement revenue raising strategies and revenue collection strategy
- Salaries and wages, investments - Bank and cash resources
- Management of short and long term liabilities
- Assist Internal and External Auditors in audit execution
- Human resource management
- Monitor budget
Manager - Risk Advisory
Deloitte
08.2013 - 05.2015
- Project planning- adequate planning of resources is performed in advance of scheduled engagements
- Provide assurance on the adequacy and effectiveness of the control environment
- Perform risk assessments
- People management and coaching
- Win and retain business in line with Risk Advisory Strategy
- Develop and manage all client relationships effectively
- Manage all administration aspects of the assignment/project with efficiency and accuracy
- Manage the proper and effective utilization of all staff members on the assignment/project
- Development of junior staff
- Support to the Chief Financial Officer in multiple municipalities
- Project planning- adequate planning of resources
- Preparation of annual financial statements
- Management of SCM project reviews and asset management
Audit Supervisor & Trainee Accountant
Auditor General of South Africa
08.2013 - 05.2015
- Reporting to the Audit Manager and Senior Manager on the overall audit work performed, debriefing on challenges experienced as well as lessons learnt on the assignment
- Directly managing a staff complement of 7 Junior & Senior Trainees
- Obtaining knowledge and understanding of the clients business
- Obtaining understanding of clients' accounting system and related internal controls
- Assessing, evaluating and concluding on the entity's internal controls and identifying the risks and weaknesses in internal controls
- Developing an overall audit plan and preparing overall audit strategy document
- Performing risk assessment and determining planning and final materiality
- Designing and performing tests of control for all audit cycles
- Designing and performing substantive audit procedures for all audit cycles
- Designing and performing substantive analytical audit procedures for all audit cycles
- Training, delegating, supervising and reviewing work of the junior audit team members
- Ensuring compliance with legislation and submission of reports as per PFMA, MFMA and Treasury regulations
- Reviewing the annual financial statements for compliance with disclosure requirements issued by National Treasury and GRAP standards
- Obtaining written Management representations from the client
- Attendance of Audit Committee / Steering Committee meetings
- Completion of quality and cost-effective audit
- Communicating audit findings to the client and making recommendations
- Reviewing overall audit findings and responses from Management
- Preparing Management reports and presenting it to Management
Senior Internal Auditor
Ithala Development Finance Corporation
01.2012 - 06.2013
- Plan, execute and report on operational, financial and compliance audits in accordance with the IIA standards
- Provide assurance on the adequacy and effectiveness of the control environment
- Perform risk assessments
- Audit of Performance Management
- Provide contribution to the continuous improvement of risk, governance and control
- Provide input into the three year coverage plan and annual audit plan
- Assist with Audit Committee Preparation
- QAR/Peer review work of others
- Supervise junior auditors
- Perform consulting activities and ad hoc assignments as they arise
- Perform research and development as required
- Prepare Control Self-Assessment Questionnaires as required
- Perform close-out workshops with management to address reported findings
- Comply with divisional policies and procedures
- Updating manager & senior manager on progress made
- Attendance of audit committee/steering committee meetings
Education
Honours Bachelor of Accounting Degree - Financial Accounting, Management Accounting, Auditing and Taxation
University of South Africa
Durban 01.2008 - 01.2009
Bachelor of Accounting Science Degree - Financial Accounting, Management Accounting, Auditing and Taxation
UNISA
Durban, South Africa 01.2003 - 01.2005
Skills
Financial reporting
Budget development
Financial management
Strategic planning
Audit coordination
Regulatory compliance
Computer Skills:
Microsoft Office (Word, Excel, PowerPoint)
Munsoft
BAS
Persal
JDE
Client Portfolio
Ithala Development Finance Corporation, Ithala Limited, KZN Growth Fund Managers (Pty) Ltd, Dube Trade Port, Department of Social Development, Department of Economic Development, Department of Health, Department of Education, UMkhanyakude District Municipality, uThukela District Municipality, Sisonke District Municipality, Mpofana Local Municipality, Greater Kokstad Municipality, KwaDukuza Municipality, uMzimkhulu Municipality, eThekwini Municipality, Maphumulo Municipality, Ezinqoleni Municipality, Abaqulusi Municipality, eDumbe Municipality
Training
- GRAP / IFRS / GAAP update
- Financial Audit and AFS preparation
- Seniors Programme (Preparation of Consolidated Financial Statements in accordance with IFRS)
- Management Dynamics / Risk Management / Road to Clean Audit Workshop.
- Intermediate Programme (Calculation of Companies Tax and Employees Tax in accordance with Income Tax Legislation)
- Foundation Programme
- Supply Chain Management Training
Timeline
Chief Financial Officer
Richmond Local Municipality
11.2018 - Current
Acting Chief Financial Officer
Mpofana Local Municipality
02.2018 - 10.2018
Acting Chief Financial Officer
Umkhanyakude District Municipality
04.2016 - 08.2017
Manager - Risk Advisory
Deloitte
08.2013 - 05.2015
Audit Supervisor & Trainee Accountant
Auditor General of South Africa
08.2013 - 05.2015
Senior Internal Auditor
Ithala Development Finance Corporation
01.2012 - 06.2013
Honours Bachelor of Accounting Degree - Financial Accounting, Management Accounting, Auditing and Taxation
University of South Africa
01.2008 - 01.2009
Bachelor of Accounting Science Degree - Financial Accounting, Management Accounting, Auditing and Taxation
UNISA
01.2003 - 01.2005
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