DMS Powders (Pty) Ltd (DMSP) provides ferrosilicon powders for application in dense media separation (DMS) technology. This technology is mainly found in ore beneficiation (mining) and scrap recycling processes and is used to separate high-grade ore from waste material. DMSP maintains in excess of 50% of the world’s market in these powders. Its smelting operations are situated South of Johannesburg and the company has an international footprint with clients and distribution networks on all continents. It employs around 240 permanent employees with a stable contracting staff of around 60 people. Its turnover is in excess of half a billion Rand with an average growth rate of 4%.My role changed from financial management into strategy and business development whilst retaining some of the governance responsibilities. The roles of director and member of the exec committee remained, but with the change in focus from finance to the following areas:Strategy: Coordinating and establishment of the overall company strategy and recommendation to the board. My specific contribution to the strategy relates to growth and governance objectives. This role was also responsible for the establishment of a market and business analysis function and the subsequent management of this function in support of business strategy formulation.Business Development: The identification and prioritisation of growth and business development projects with the aim of achieving the long-term sustainability in line with the strategic direction of the business. Project management of the process of product and business development to a point of maturity for handover to operations. Governance: The overall management and improvement of the governance processes in the organisation in line with best practices and according to compliance requirements.

An executive level position acting in the following roles:Director: Overall responsibility for the financial function in the company. Responsible for determining the financial strategy, establishing the financing and dividend policies. Recommending financing decisions and coordination of all aspects of the financial function. Responsible for the presentation of financial reports and budgets to the executive in support of the financial decision making process. Participates in all board meetings and participates in the strategic direction-setting and decision making processes.Member of the Exec Committee: As a member of the executive committee responsible for the day to day management of the business including marketing, operations, finance, human resources and research & development.Financial Management: Responsible for the management of the financial accounting function in the company. This function is responsible for managing activities including the preparation of financial accounts; analysis and reporting of production costs; marketing and sales analysis and reporting; managing foreign exchange exposure and hedging. Included in this role is the management of the procurement, contracts management and stores functions.Governance: Designing and reviewing internal control procedures to ensure safeguarding of company assets and accurate reporting of financial information. Establishing accounting policies/procedures & ensuring compliance. Coordination of internal and external audits.IT:Responsible for the management and direction of all IT resources (mainly outsourced) in line with the business strategy. Educating the board and executives on current technology capabilities and future directions, the opportunities that IT provides, and what the business has to do to capitalise on the opportunities. Formulation of a strategic plan that defines how IT will contribute to the company’s strategic objectives.

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