SETH MUNHENZWA, CA, ACCA

Member of the Senior Leadership Team managing 13 staff and responsible for providing leadership across the Group on all finance, accounting, compliance, audit, and tax-related matters with the support of third parties, where required.

• Formulated the company’s annual plans and related tactical initiatives.
• Monitored and directed the implementation of strategic business plans.

• Re-organised the finance department’s structure to ensure lean and more effective operations.
• Enhanced the quality, accuracy, and transparency of the monthly Shareholders’ reports.
• Led the finance and accounting-related aspects of an M&A transaction.
• Streamlined policies and processes regarding payments, delegation of authority, CAPEX, and cash.
• Coached the team to significantly reduce average DSO from 100+ to 85 days.
• Introduced and spearheaded monthly balance sheet reconciliations.
• Successfully managed the FY22 subsidiary and Group audits, and received clean audit opinions.
• Managed third parties to which different accounting and finance-related functions were outsourced.
• Reported the company's financial performance to the Executive Team and Shareholders.
• Ensured full compliance with the company’s financial, accounting, and reporting policies.
• Ensured the company’s compliance with all legal and regulatory requirements.
• Ensured that the internal control system was robust and fit for purpose.
• Reviewed and executed financial and tax strategies.

• Managed all technical accounting, finance and reporting topics across a start-up group comprising 12 legal entities (annual revenue of $200m+).
• Guided the finance team to ensure compliance with IFRS and internal controls.
• Collaborated extensively with other key management team members to achieve organisational goals as a business partner.
• Established standardised monthly financial reporting processes, (including consolidation automation, CAPEX approval etc.).
• Resolved complex legacy balance sheet topics and spearheaded the monthly balance sheet reconciliation process.
• Successfully delivered clean statutory & group audits.

• Slashed average DSO by circa 70 days from 120 to 50 days through effective management of cash collections, tightening customer credit approvals and timely billing.
• Restructured financial reporting for a sub-region (17 new markets).
• Coached distributors in Pakistan & Egypt, resulting in DSO improvements by 4 days each.
• Led the successful implementation of VAT in UAE & KSA (leading a group team of 20+).
• Oversaw the credit risk management and collection efforts relating to 4000+ different accounts (circa $50m AR balance), executed by 5 credit controllers.
• Drafted and implemented the credit & collection policy.
• Successfully established a credit & collection back-office team and groomed an internal successor.
• Resolved a legacy $3m key debtor’s account reconciliation discrepancy existing since 2011.
• Resolved a legacy $6m bank account reconciliation discrepancy existing for years.

• Supervised and guided staff (biggest group team supervised => 25) during audits to safeguard the accuracy of the financial statements.
• Reviewed and audited financial, operational, and regulatory compliance deficiencies and conducted follow-ups.
• Advised clients of industry-specific trends and presented solutions that enhanced client business goals.
• Created, enforced, and consistently improved audit procedures to improve audit efficiency compared to each previous year's audit.
• Maintained timely and constant communication with clients throughout the auditing process to deliver status updates.
• Cultivated mutually beneficial relationships with clients and company financial officers to facilitate improved business operations.
• Planned and executed follow-up audits at appropriate intervals.
• Adapted plans and schedules to meet changing priorities of work objectives, resources and workload demands.
• Interviewed business owners to understand needs and explain audit scope.
• Prepared working papers, reports and supporting documentation for audit findings.
• Consistently achieved “star performer” rating, ahead of peers, resulting in being selected as the Audit Supervisor in charge (2009 to 2011) of the firm’s largest client in its history at the time, which was also the biggest company (by market capitalisation) listed on the Zimbabwe Stock Exchange.

My portfolio of clients included:

- International SOS (Healthcare)

- Schlumberger (Oil & Gas)

- GAC Group (Freight & Logistics)

- Econet (Telecommunications)

- Mimosa Mining Company (Mining)

- Gulf Refining Company (Oil & Gas)

- Hunyani Limited (Manufacturing)