Commercial Manager : SunBet

SunBet is the online betting and gaming division of Sun International, leading the online gaming strategy and business objectives, providing thought leadership and advice on online betting and gaming product performance, revenue growth, operational governance and service standards, as well as building strategic relationships and partnerships with key stakeholders; and leading the integration of online sports betting projects into operations.

The Commercial Manager : SunBet will have accountability for leading and managing teams and commercial strategies to support the achievement of sustainable business goals and commercial targets for the SunBet business including strategies to accelerate business growth; initiating and monitoring procedural controls; developing plans for expansion and business development locally and into various countries in Africa. This will include conducting due diligence and analyses to understand costings and the value of business projects, solutions and services and the financial position of the business, as well as driving compliance and risk management across both national and international operations. Duties will include sourcing of solution components; recording of approvals, agreements and procurement; negotiating and concluding contracts and service level agreements; managing supplier relationships and their compliance obligations (e.g. POPI, BBBEE, etc.); and managing financial, commercial, and pricing risks in line with Company standards , regulations and legislation; as well as leading the business intelligence data analyses and reporting as a foundation for solid decision-making across operations.

The role will also have accountability and responsibility for providing leadership with regards the development and delivery of budget management, accounting, and tax administration processes for SunBet across its operations as well as the reporting and the ongoing development and monitoring of control systems designed to preserve company assets and accurately report on financial results. The role will lead the business on fiscal discipline and statutory compliance in the various Africa territories that SunBet operates in including ensuring that all the necessary gambling taxes, income taxes, withholding taxes and VAT are paid and relevant submissions made; and will oversee the commercial and governance set-up of African entities as part of SunBet’s expansion to other territories; and manage the financial accounting and reporting of all African entities in line with regulations.

Key Performance Areas

• Provide thought leadership, commercial advice and consultation on SunBet’s business portfolio nationally in South Africa as well as internationally (including Botswana, Ghana, Kenya, Zambia)
• Responsible for preparing and conducting financial modelling, analyses and commercial plans to support the operationalisation of the current and future SunBet revenue growth and optimisation strategy for implementation across the business, including 5 year Capex requirements
• Develop the company budgets, and forecasts, and collaborate with management in aligning business plans to deliver objectives and targets accordingly
• Support the operations team in rolling out the SunBet expansion strategy by leading commercial aspect of the expansion strategy.
• Manage the financial, and tax functions for the businesses in line with regulations and relevant legislation
• Conduct financial analyses and benchmark with leading financial trends and practice including economic trends and revenue opportunities; projecting acquisition and expansion prospects
• Conduct analyses of operational performance, identifying opportunities to create revenue and efficiencies with the aim of enhancing market share / competitiveness
• Co-ordinate internal and external financial audits across business operations
• Oversee the analysis and reconciliation of accounts ensuring player accounts, and payouts are reconciled back to the bank account
• Review financial risks quarterly and address mitigating and aggravating circumstances.
• Develop and embed financial policies, standards and processes for the business; ensuring the alignment and updating of tools and systems with new legislative and tax regulations
• Implement sufficient control measures (including systems and processes) & checks within each department to ensure accurate and timely reporting
• Monitor compliance to financial procedures, costs, controls and productivities across the business
• Oversee completion of relevant statutory returns
• Manage the financial accounting, reporting, budgeting and forecast for all the entities that SunBet owns (SunBet Carnival, SunBet Times Square and TMG network). This includes preparations and presentation of board packs for these entities.
• Oversee the recording and consolidation of financial transactions to ensure the financial position of SunBet is accurate, up-to‑date and complete, and investigate any unusual variances relative to budget and previous year
• Provide value-adding recommendations to optimise financial performance (with regards product, process and practices).
• Oversee the preparations of balance sheet reconciliation for Africa and the preparations and reviews of the reconciliations performed by SSC for the local entities including overseeing the monies in and out reconciliations as well as player liability reconciliations.
• Coordinate the ERP system set-up of new SunBet entities including ensuring that intercompany charges are appropriately
• Setting up of bank accounts and banking profiles in Africa including establishing and managing the banking administration and management of working capital and funding needs.
• Partnerships built with the Gaming and Hospitality Business Segments and unit executive teams to develop, design and integrate innovative and sustainable business objectives and plans to grow and expand the Sun Bet business within the various operations.
• Risk Analysis i.t.o impact on short term profit margins vs. long term sustainability is analysed and strategies put in place to mitigate risk, and be ready to handle unexpected situations.
• Recognises and provides insights on business trends, barriers, risks and opportunities that may impact the business based on macro-environmental and economic factors. These insights to be shared with all stakeholders across functions.
• Relationship agreements with key suppliers, business partners and sponsors are built, negotiated and managed to achieve the business objectives and leverage new opportunities and joint initiatives.
• Collaborate with operations to provide input into risk and trading pricing and management in line with market trends, client profiles and profitability of various sports markets, ensuring all books remain competitive.
• Oversee the maintenance and confidentiality of guest’s transactions and ensure customer company records are secure and managed according to regulations. When fraudulent activity is detected this will trigger an investigation, and if fraudulent activity is confirmed, it will be resolved.
• Oversee SunBet’s compliance with BBBEE and drive action plans to achieved target BBBEE levels.
• Lead SunBet BCM process and ensure BCM documentation is completed in line with group BCM principles and guidelines.
• Keeps on top of all client interfacing technology and sports betting platforms and monitors it from an anti-fraud perspective ensuring the best possible second line of defence for clients, evaluating and assessing any changes to products, channels and processes from a client fraud prevention perspective.
• Oversees the vetting and finalizing of regulatory audit reports and remedial action.
• Maintain working relationships with the appropriate regulators and act as a liaison between regulators, business units, and business leadership on financial and commercial compliance issues; and is the point of contact when responding to non-compliance notices and complaints received by the business.
• Enhance employee engagement and motivation and nurture a performance driven culture within SunBet commercial and compliance team.
• Team leadership and management; ensuring all relevant employees understand standards, regulations and procedures including establishing and maintaining core teams to manage finances and deliver on technical services expected in terms of Technical service agreements for the various Africa territories.
• Drive a culture of quality standards, ethics and governance and ensure all staff are competent in relevant legislation, regulatory and company standards to deliver against those standards.

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