Equities Franchise (ACS) – AVP role at Absa

Job Summary

• There is a vacancy in the ACS PC team for the role of Product Controller. The overall responsibility of this role includes, but is not limited to, daily P&L production and balance sheet substantiation, reconciliations, financial reporting, AFS preparation, tax calculations, forecasts and end-to-end legal entity responsibility/process ownership for the Absa Capital Securities (ACS – Institutional Stockbroker) desk, and involvement in broader, floor wide Product Control initiatives. Products on the desk are mainly Equities (shares) and related derivatives. The broker is operationally complex and requires a strong candidate with the ability to navigate within this context.

Job Description

Production related responsibilities:

• Accounting – posting to the General Ledger accurate and timely information, in accordance with IFRS
• Substantiation of the trading balance sheet – ensuring the full balance sheet can be substantiated
• Regulatory reporting alignment - ensuring the Balance sheet is aligned to reports send to regulators
• Data ownership – Ensuring the quality and accuracy of the data going downstream to other infrastructure areas
• Control environment – Overseeing the control environment in which the business operates
• P&L review – understanding and providing commentary on the P&L; displaying an understanding of the applicable Greeks (attribution) to explain PnL moves and the respective products on the desk. Being able to relate the said moves to Market trends or behaviour

In the process of production focus is needed on:

• Reporting – Ensuring reporting is accurate and timely
• Control – Ensure a robust control environment and report any deficiencies or issues to managers/relevant stakeholders

Key Accountabilities:

• P&L production and BS substantiation
• Reconciliations including timely resolution of breaks/issues
• Financial reporting, including but not limited to monthly management packs & AFS preparation
• Interaction with key stakeholders
• Process Owner
• Tax calculations & return submissions (VAT, STT, Income Tax)
• Other legal entity related responsibilities (Regulatory, compliance etc).
• Strategic and/or Project and /or Change related Initiatives

Education and Qualification

• B Com degree/similar qualification in a financial/related discipline
• CA or CFA qualification/candidacy is a plus
• Financial Accounting (including IFRS) knowledge
• Experience/familiarity with Tax is an added advantage
• Investment banking or Product Control experience
• Product specific knowledge is an added advantage
• Individual must be strong with regards attention to detail/accuracy, and able to operate within a complex environment
• Experience in creating and maintaining an effective control environment
• Experience with Projects and / or Strategic Initiatives and / or Change Management

Education

• Bachelors Degree and Professional Qualifications: 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