Gary Millichip

CFO Consultant at Teichmann
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Contact Information
Location
Durban, KwaZulu-Natal, South Africa, ZA
Languages
  • English Native or bilingual proficiency

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Credentials

  • PADI Master Scuba Diver Trainer
    PADI
    Oct, 2008
    - Sep, 2024
  • CA(SA)
    SAICA CA(SA)
    Jul, 1998
    - Sep, 2024

Experience

    • Germany
    • 1 - 100 Employee
    • CFO Consultant
      • Jan 2023 - Present

      Direct the financial functions of the smaller entities within the Teichmann Group. Monitor, control and report on the financial assets and results. Oversee the financial and operating strategy, as well as risk management. Serve as a business partner to the Directors and Group CFO, supporting development of the overall strategic plan. Oversee budgeting, forecasting, cash flow projections, treasury operations and the external audit process. • Eliminated outstanding financial and taxation reporting requirements for 8 entities. • Negotiated the purchase of and funding for additional property holdings. • Implemented financial reporting for the Kiwi Operations. Show less

    • Chief Financial Officer
      • Apr 2021 - Sep 2022

      Recruited to provide leadership, direction and management of the accounting team. Provide direction for the monthly reporting of results (IFRS). Oversee budgeting, forecasting, cash flow projections, treasury operations and the external audit process. Implementing Corporate Governance. Undertaking cost-cutting measures to improve profitability and simplify reporting. Implemented POPIA requirements. Implementing CADTALK, Fast React and Syspro Zap Data Hub. Implemented KPI’s. Reason for leaving: Opted to pursue new challenges. Show less

    • Group CFO/CFO Consultant
      • Sep 2016 - Mar 2021

      Recruited to provide leadership, direction and management of the accounting team. Managed the accounting integration of the plantations purchased from Masonite (Africa) Ltd. Provided direction for the monthly reporting of results (IFRS) for seven entities and the consolidation thereof. Oversaw budgeting, forecasting, cash flow projections, treasury operations and the external audit process. Implemented Corporate Governance within the Group. Undertook cost-cutting measures across the Group to improve profitability and simplify reporting. Transitioned financial reporting to cloud-based. • Negotiated and secured new facilities and additional funding from ABSA. • Negotiated the sale of plantations to Mondi, achieving Competition Commission approval without conditions. • Negotiated and secured a long-term timber supply agreement with Mondi. Reason for leaving: Business split-up by the co-CEOs. Show less

    • 1 - 100 Employee
    • Head of Finance
      • Mar 2014 - Aug 2016

      Hired to implement Sarbanes Oxley requirements including documentation, training and compliance. Achieved first year SOX compliance. Managed reporting of results (IFRS and US GAAP), treasury and payroll operations, as well as the internal and external audit process. Appointed as a member of the Executive Committee. Initiated the streamlining of reporting processes to improve reporting times and the accuracy of cash flow forecasting. • Part of the core team who achieved a successful business rescue outcome, including presenting to banks to secure bridging finance and working with Alvarez & Marsal to evaluate restructuring or sale scenarios. • Prepared and successfully negotiated the company’s Business Interruption and Material Damage insurance claims. • Implemented the requirements of IAS 41 for biological assets and bearer plants. Reason for leaving: Recruited by World Hardwood. Show less

    • Real Estate
    • 1 - 100 Employee
    • Family Reasons
      • Oct 2013 - Jan 2014
    • United States
    • Business Consulting and Services
    • 500 - 600 Employee
    • Head of Finance and Internal Audit
      • Oct 2011 - Sep 2013

      Hired to implement new processes to increase the accuracy of monthly results (IFRS) and reduce the time required to report. Created an internal control framework, established the internal audit function and oversaw its activities. Member of the Executive Committee and an invitee to the Audit Committee meetings. • Implemented broker debt management to monitor and recover commission claw backs. Reason for leaving: Family reasons in the USA. Hired to implement new processes to increase the accuracy of monthly results (IFRS) and reduce the time required to report. Created an internal control framework, established the internal audit function and oversaw its activities. Member of the Executive Committee and an invitee to the Audit Committee meetings. • Implemented broker debt management to monitor and recover commission claw backs. Reason for leaving: Family reasons in the USA.

    • United States
    • Insurance
    • 700 & Above Employee
    • Accounting Consultant - Reinsurance & Special Projects
      • Jan 2006 - Jul 2011

      Recruited to review reinsurance contracts of a newly acquired insurance company and implement the correct reinsurance accounting procedures. Summarized reinsurance treaty information and reconciled reinsurance related accounts. Managed the reinsurance operations thereafter including communications with and submissions to Brokers/Reinsurers. Ultimately transitioned these reinsurance operations from Chicago to Raleigh. Also oversaw the operations for allocated IAT reinsurance treaties. Prepared Schedule F for Annual Statement purposes and the SRQ for AM Best rating analysis. • Recovered $4 million in long outstanding and unrecorded reinsurance amounts. Reason for leaving: Opted to pursue new challenges. Show less

    • Accounting
    • 100 - 200 Employee
    • Accounting Consultant
      • Feb 2005 - Dec 2005

      • Created new accounting structure and relevant financial reports for newly acquired operation in QuickBooks. • Documented financial policies and procedures. • Managed monthly close and reporting process for seven reporting units including internal and external audit requirements. • Centralized reporting functions from the UK to Raleigh and prepared cash flow forecasts for the consolidated business. • Documented and presented financial information flowchart and initiated projects to streamline existing processes, transition knowledge for business continuity purposes and identify automation opportunities. Show less

    • South Africa
    • Financial Services
    • 700 & Above Employee
    • Finance Manager for NEDinsurance Company Ltd
      • Jan 2003 - Dec 2004

      • Managed the merger of Nedcor Insurance Company into BoE Insurance Company, renamed NEDinsurance Company, from a financial and regulatory perspective. • Performed portfolio calculations for new insurance treaty arrangements applicable for 2003 and 2004. • Managed the monthly accounting process, ensuring premiums and claims correctly accounted for from a treaty perspective (quota, surplus and facultative share) based on sum insured (including factored escalations). • Calculated monthly statutory reserves as required by the Short Term Insurance Act. • Prepared AFS and regulatory STAR return and managed external audit process thereof. • Prepared and presented quarterly financial results at Company Board meetings and an invitee to the Audit Committee meetings. • Prepared annual budgets, revised forecasts and managed treasury operations. • Resolved outstanding tax issues dating back five years and prepared current tax returns. Show less

    • Software Development
    • 1 - 100 Employee
    • Finance Manager - EMEA
      • Nov 1999 - Oct 2002

      • Managed finance operations in nine European countries and consolidation thereof for U.S. reporting purposes. • Relocated finance, audit and reporting functions for EMEA from London to Cary as part of cost savings measures. • Researched, selected, implemented and managed an automated travel and entertainment system, which generated a ROI in 6 months with continued cost savings and improved reporting thereafter.• Administered the global use of SunSystems including the upgrade thereof from ISAM to SQL version. • Developed Vision and Crystal Reports for data within the various applications for finance purposes.• Documented business processes, streamlined accounting functions and improved quality of reporting. Show less

    • European Accountant
      • Apr 1999 - Oct 1999

      • Prepared monthly financial statements for group companies in the UK, Ireland, Germany and the Netherlands.• Consolidated financial results of nine European companies using SunSystems for reporting to the U.S.• Managed treasury operations of Level 8 Systems in Europe including cash flow forecasting.

    • Travel Arrangements
    • 1 - 100 Employee
    • Assistant Group Financial Controller
      • Aug 1998 - Mar 1999

      • Created new accounting structure and relevant financial reports in SunSystems. • Prepared monthly financial statements for Carlson Leisure Group (UK) Ltd. • Prepared consolidated financial statements for Carlson Companies (UK) Ltd and managed treasury operations. • Created new accounting structure and relevant financial reports in SunSystems. • Prepared monthly financial statements for Carlson Leisure Group (UK) Ltd. • Prepared consolidated financial statements for Carlson Companies (UK) Ltd and managed treasury operations.

    • Food and Beverage Services
    • 1 - 100 Employee
    • Group Accountant
      • Mar 1997 - Jun 1998

      • Prepared monthly financial statements for Imana Foods and consolidated financial statements for Imana Group companies. • Prepared monthly financial statements for Imana Foods and consolidated financial statements for Imana Group companies.

    • South Africa
    • Management Consulting
    • 1 - 100 Employee
    • Trainee Accountant
      • Feb 1994 - Feb 1997

      • Supervised audit of listed Blue Chip Company (Toyota South Africa). • Participated in audits of several other listed companies. • Supervised audit of listed Blue Chip Company (Toyota South Africa). • Participated in audits of several other listed companies.

Education

  • University of South Africa/Universiteit van Suid-Afrika
    B. Compt Honours, Accounting
    1994 - 1995
  • University of KwaZulu-Natal
    Bachelor of Commerce (BCom), Accounting
    1990 - 1992

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