My advice would be to have a face-to-face meeting where you make it very clear that it is not acceptable to arrive in the office late, assignments must be completed on time and that you expect her to pull her weight like the other members of the team.
How do I make it clear to her that she is talented but needs to lose the attitude, hit her deadlines and use her skills to become a team player?.
She has potential and is talented, but is always late with assignments, full of excuses, often late to work and so forth.
Decision time: If your colleague does not respond to you laying down the law, then you will have to consider ending her employment.
If she doesn't agree to this route, then you will have to issue warnings and get input from human resources to ensure that you end the employment within the law.
