Public finances are the lifeblood of service delivery and safeguarding them, and their stewardship requires a special kind of expertise. Chartered accountants are increasingly making a difference in the realm of public finance and risk management. One such individual who not only excels in his role but also leaves a lasting impact at his organisation is Lwandile Magoda, who is making a positive difference in public finance and risk management.
Lwandile is a senior specialist in finance, risk, and PFMA monitoring and compliance at Transnet and stands out as a young leader at his organisation. With an unwavering commitment to excellence and a track record of transformative initiatives, he has risen through the ranks, shaping the landscape of finance and compliance at other notable organisations.
A journey of success
Lwandile’s journey towards senior leadership positions has been characterised by determination, continuous learning, and a passion for making a difference. Joining Transnet Port Terminals (TPT) as a senior specialist, Lwandile took charge of risk assessment, PFMA compliance, and monitoring within the finance department. However, his success story began long before his tenure at TPT.
Lwandile previously served as a technical manager at the Auditor-General South Africa and assistant audit manager at the same institution, where he honed his skills in risk assessment and compliance. These early experiences laid the foundation for his future achievements and propelled him towards higher levels of responsibility.
Empowering team growth
An exceptional leader understands the importance of nurturing talent and enabling their team to reach their full potential. Lwandile’s approach to team development centres on motivation, recognition, and imparting knowledge. By providing a fertile ground for independent thinking and offering guidance when needed, he empowers his team to excel. He firmly believes in goal congruence and ensures that his team members are aligned with the organisation’s objectives.
Transformative initiatives
Lwandile’s impact extends beyond his leadership and influence. He has spearheaded several initiatives that have left a lasting imprint on the organisations he has served. One notable achievement was the implementation of amendments to the Public Audit Act, namely material irregularity, in Mpumalanga Province. This initiative ensured greater transparency and accountability, setting a precedent for good governance.
In addition, Lwandile led a change in his previous organisation’s audit methodology, resulting in significant increases in audit efficiencies.
Continuous professional development
As a young manager in a leadership position, Lwandile recognises the significance of personal growth and continuous professional development. He attributes his success to the guidance of mentors who challenge and critique him, and he continues to invest in his knowledge through further education. By staying abreast of industry trends and best practices, he remains at the forefront of finance, risk, and compliance. In addition to his qualification as a CA(SA), Lwandile also holds an honours qualification in risk management and is currently pursuing his master’s in commerce.
Advice for aspiring professionals
Lwandile offers valuable advice to young professionals who aspire to reach management level and beyond. He emphasises the commitment to competence, encouraging individuals to do their best and learn from their mistakes. Planning and goal setting are also crucial, providing a clear roadmap for success. He reminds young professionals to maintain confidence and self-assertiveness, as self-doubt can hinder progress and growth.
This article has been adapted from an original internal publication at Transnet.
Author
Msizi Gwala CA(SA) is Project Director, Enabling Competencies Public Sector at SAICA
