Consultant Regulatory Reporting at Absa

Job Summary

Responsible for collation and preparation of regulatory information to the Prudential Authority (PA) according to regulatory guidelines and procedures

Job Description

Key responsibilities

Accountability:  Preparation and completion of BA returns

• Collect information from various sources, i.e. Finance, Credit, Treasury and business units, Corporate and Investment Bank, Retail and Business Bank and Absa Regional Operations for the compilation and preparation of BA returns to the PA.

• Coordinate resources from other areas of the Group, planning and managing the timetable for data collection, consolidation and review of data and information and to ensure that deadlines are met in respect of data submissions to the PA.

• Calculate the relevant sections required of returns, such as Non-Standard Asset, Securitisation etc. for submission to the PA within set deadlines; drawing from source data, own financial and Basel knowledge and expertise.

• Prepare, calculate and compile the working sheets in support of the relevant BA returns to the PA for review by the reviewer and management.

• Maintain the mappings from the IFRS balance sheet and income statement line items to ensure that results are correctly reported in terms of the regulations.

• Prepare and maintain the relevant working papers, calculations and or reconciliation in support of the BA return and other submissions to the PA.

• Upload the BA returns after review into the PA submission tool (DIX).

• Run validation checks on DIX and present for sign off by reviewer.

• Investigate queries and draft responses thereto as received from the PA on an ad-hoc basis.

• Meet reporting deadlines as set internally per working day timetables

• Prepare the monthly management information and analysis packs on the BA returns for internal review.

• Prepare the commentary and Executive Summary for the monthly management information packs.

• Identify enhancements to current reporting processes and policies to achieve optimal efficiency.

• Build relationship with all the relevant stakeholders in the process.

Accountability: System maintenance and development

• To drive and oversee projects which involves system development and automation.

• Maintain process maps which should include critical controls and process performance measures.

• Document the enhancements for these projects for future reference according to Absa requirements and on Absa template documents.

• Test the automated solution for adequacy, effectiveness, and reliability prior to implementation

• To assist the system owners in the implementation of this automated solution, including roll out to business units where necessary.

• Identify processes for automation to increase effectiveness and efficiency in the team and present the proposed solution for review to GRR management

Knowledge & Skills:

• Knowledge of local/ international regulatory requirements

• Strong computer skills e.g. Excel, Word, PowerPoint

• Knowledge of SA / IFRS accounting standards

• Product knowledge in banking industry

• Good report writing skills

• Sound values and judgement

• Analytical

• Logical Thinker

• Attention to detail

Education and Experience Required

• Chartered accountant (SA) or equivalent experienced accountant with tertiary accounting qualifications and demonstratable technical expertise;

• 3 years banking experience

• 3 years’ experience in the compilation of risk data and or financial returns to the PA would be preferred

• Strong academic track record.

Competencies:  

The position requires an accounted with a passion for banking regulations, investment banking, treasury and more complex banking activities. The following competencies are required:

• Analysing: Analyses numerical data; verbal data and all other sources of information.

• Applying expertise and technology: applies specialist and detailed technical expertise; uses technology to achieve work objectives.

• Writing and reporting: Writes clearly, succinctly and correctly.

• Deciding and initiating action: Takes responsibility for actions, projects and people; initiates and generates activity.

• Planning and organising: Plans activities and projects well in advance and takes account of possible changing circumstances; monitors performance against deadlines and milestones.

• Coping with pressure and setbacks: Works productively in a pressurised environment; Handles criticism well and learns from it

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised