Analyst, Finance Operations at Standard Chartered Bank

The Role Responsibilities:

• Supervise and oversee payments process ensuring that laid down authorization procedures are followed, expenditure is allocated to correct cost centres, expense and other asset accounts. 
• Supervise and approve general ledger transaction processing in PSGL for all supplier payments, ensuring compliance with Accounting Policies and standards. 
• Ensure that assets are processed correctly in general ledger in accordance with internal Accounting Policies. 
• Review fixed asset register and ensure that the Fixed Asset Register and Ledger balance. 
• Controlling and ownership of Suspense and Sundry accounts in accordance with Financial Control Policy. 
• Ensuring that all payments are made in line with Group Business Expenditure Policy. 
• Ensuring on time on line submission of taxes to the regulators. 
• Oversight of unit risk management framework.
• Exercise control and ownership of straight to bank and eOPs for the finance unit. 
• To support the Regional Tax Manager in minimising the impact of taxation in South Africa at an operational and transaction level, and the strengthening of internal controls.
• Ensure effective training and supervision of Learners within APU space.

Accounts Payable Processing:

• Provide guidance, advice and assistance in the formulation and issue of instructions to business units and cost centre managers on issues relating to the paying of Suppliers, expense claims etc. 
• Supervise and monitor suppliers’ payments to ensure that all invoices received in Finance are settled timorously under correct authorization levels. 
• Supervise the overall payments process, including preparation and submission of the resulting accounting entries, on all suppliers’ invoices. 
• Monitor and give guidance to staff regarding correct allocation of expenditure, authorization limits and efficient processing of suppliers’ transactions. 
• Supervise record keeping of the above and ensure that all audit trail reports generated in PSGL, vouchers and invoices are properly filed and readily available for audit. 
• Review and ensure correct processing of the foreign exchange payments, cash travel advances and petty cash reimbursements ensuring that no are outstanding for unduly long periods. 

Payments:

• Ensure effective management of Accounts Payable mailbox.
• Ensure that payments are sent to hub timely for payment.
• Loading of all new staff vendors banking details and keeping them up to date.
• Ensure that FX is effectively and accurately procured from dealers.
• Guide users on the payment process and resolve adhoc queries.
• Ensure that Group Business Expenditure Standard Policy are fully complied with.

Processing:

• Sorting post and passing to relevant departments for processing. 
• Preparation of PO’s and journals.
• Requesting of Funding as and when required. 
• Assisting and resolving adhoc queries from management. 
• Ensure that Financial Control Policy is fully complied with.

Reconciliations:

• Prepare Journals to clear intersystem reconciling items.
• Staff Corporate Card amounts utilized are accounted for and the individual CC recons prepared monthly.
• Ensure reconciliation of the Finance Sundry and Suspense accounts and submitted to the Finance Operations Manager for review monthly. 
• Ensure that Intersystem and Nedbank recons are performed and submitted to Finance Operations Manager on daily basis. 
• Ensure that open items on Reconciliations are investigated; resolved and no open items are kept open beyond their life span. 
• Ensure FCS accounts are submitted timely.

FNB and Petty cash:

• Maintain and distribute FNB and petty cash 
• Ensure safe custody of petty cash and FNB 
• Perform FNB and petty cash recons 
• Replenish FNB and petty cash 

Corporate card:

• Effectively execute on new corporate card applications. 
• Ensure that changes and deletions are executed promptly.
• Ensure to tract arrears report and ensure appropriate escalations.

Nostro Clearing:

• Effectively investigate open items allocated to Finance.
• Ensure that FX conversion are effectively and accurately procured from dealers.

Fixed Assets / Projects:

• Review Fixed Assets register and ensure that the Fixed Asset register and the Ledger balance monthly. 
• Ensure WIP is accounted for as prescribed in the FCP enforcing on time capitalization of assets. 
• Oversee the annual asset verification process and maintain relevant records. 

Direct and Indirect Taxes:

• Preparation of workings for South Africa’s quarterly IFRS tax reports for the purposes of the financial pack.
• Prepare forecasts of the tax liabilities in line with the ETR management programme, 
• Prepare tax risk report to the Group Taxation.
• Country by Country Tax Reporting (ZC9 and ZC10) for bank branch.
• Capturing of tax risk in Phoenix.
• Prepare the year-end computations and deferred taxation for the organisation.
• Preparation of tax accruals and GLRS of tax accounts.
• Maintain tax asset register for the bank branch in accordance with SARS wear and tear write off periods.
• Assistance with the VAT Apportionment workings for the bank branch.
• Preparation and submission of VAT returns for the Bank Branch.
• Preparation and submission of DWT returns for the Bank Branch. 
• Preparation and submission of STT returns for the Bank Branch.
• Preparation and submission of tax returns (IT14) for the Bank Branch.
• Preparation of various tax schedules for tax return purposes.
• Timely management of tax payments for all tax types.

Trial Balance Management:

• Enforce correct chart fields use on the trial balance and provide guidance to the processing team. 
• Coordinate audit and review activities in the payables and processing section. 
• Ensure that Sundry and Suspense accounts reconciliations are correctly and timorously performed, providing analytical reports on Account Payable owned Accounts.
• Review the Reconciliations and ensure open items are investigated and timorously cleared. 
• Ensure open items are correctly aged and escalations done in line with the FCP requirements. 

Operational Risk management:

• Report any potential operational risks. 
• To identify and report all exceptions on non-compliance with standard controls.
• To identify and report all weaknesses inherent in the standard controls.
• To reconcile Finance owned accounts and provide evidence to Financial Controls Manager.

Finance systems:

• Act as custodian and lead of eOps, Straight to Bank and Metro filer in the finance department. 

Regulatory and Business Conduct:

• Display exemplary conduct and live by the Group’s Values and Code of Conduct. 
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the [country / business unit / function [team] to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] * 
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders:

Internal:

• Chief Financial Officer 
• Financial Controller 
• Manager Group Reporting 
• Group Reporting Officer 
• Regional Tax Manager 
• Other Business Unit Heads 

External:

• Vendors 
• External Auditors 
• SA Tax authority 

Our Ideal Candidate:

• First degree in Accounting plus at least two years relevant experience a plus. Further professional qualifications or progress towards achievement in Accounting and Finance e.g. ACCA, CIMA, CA would be of an added advantage. High level experience in working with computerised accounting systems. Superior level of computer literacy is required with full knowledge of MS Excel, Word. A good knowledge of accounting practice and procedures.
• Higher Diploma in Tax or equivalent.

Role Specific Competencies:

• Accounting and Journal processing
• Payments
• Attention to detail
• Reconciliations
• Managing stakeholders and timely resolution of issues
• Deadline driven
• Training users on Finance systems and processes