Head of External Reporting at Absa

To develop a functional financial operating model and framework in a broadly defined business functional strategy; enabling horizontal implementation and adoption. Selecting this role has a compensation & benefit impact in Mozambique. Please contact Reward for details.

Job Description

Bring your possibility to life! Define your career with us

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

To take responsibility for the overall process that enables sustainable, accurate and timeous Group financial information to be reported to all necessary recipients (both internal and external) for example South African Reserve Bank (SARB), external markets (JSE) and Analysts.

Key Responsibilities
Accountability: Stakeholder management

• Manage the aggregation, consolidation and reporting of results, to ensure it meets the needs of all key stakeholders (Exco, Board Members, Divisional Heads etc.), where deemed appropriate.
• Manage key relationships within Financial Control, Business Units and other parties within Group Finance to align outcomes and dependencies between units.
• Keep key stakeholders abreast with any relevant information deemed important.
• Manage all key relationships in support of internal and external group audits, provide feedback on any queries raised.
• Manage communication channels to Exco and Board Members, Divisional Heads etc. to provide information on technical accounting matters, accounting statements and changes on regulatory requirements

Accountability: Process and operating model design

• Act as the process owner for Group financial accounting and reporting processes.
• Manage effective delivery of outputs to ensure high quality and efficiency.
• Design the operating model for the team and approve all material changes to support the alignment of strategic effectiveness, productivity, in line with the broader operating model for Financial Control.
• Enhance operating model for medium- and long-term requirements, in line with best practice. Allocate tasks and responsibilities appropriately to ensure the correct skills are assigned to the correct task in support of efficiency and productivity of the process and operating design. Constantly review and improve processes to enhance the effectiveness and efficiency of the delivery in support of deadlines.

Accountability: Review and control

• Review and sign off annual financial statements to ensure accuracy, completeness and confidentiality of the statements, prior to the release thereof.
• Review and sign-off of the half yearly booklet, SENS announcements and advertisements to manage the accuracy and quality, prior to release.
• Review all unusual and material group journals passed by the consolidations or Absa's reporting teams, to drive alignment and quality of the journals.
• Approve new general ledger accounts, exco codes and reporting business units and provide input into any structure changes affecting the general ledger reports and performance. Approve all policies and circulars issued from External Reporting to ensure the correct communication is distributed to the organization.
• Review and sign-off supplementary schedules before issuing, for example the accuracy and completeness of additional disclose information.
• Review quarterly communication before distributing to business units, providing guidance on regulatory, technical and / or control issues / recommendations.
• Review the monthly financial results to ensure quality and accuracy of the results.

Accountability: Functional leadership and development

• Lead a function of financial specialists to achieve excellent operational results through continuous people development and mentoring activities.
• Ensure the development of a high-performing function through embedding formal Performance Development and informal coaching.
• Establish and maintain a succession plan for the team members.
• With the support from the HR Business Partner, interview and recruit direct reports. Second interview sub-subordinates where necessary.
• Approve leave requests for direct reports and ensure that the team manage the leave effectively.
• Act as first level escalation point for all grievances raised in the department.
• Ensure that all poor performance is addressed through the Absa Performance Accelerator Programmer and that continued poor performance is adequately dealt with.
• Motivate employees in the department and ensure that their efforts are recognized.
• Develop appropriate Employee Opinion Survey action items together with the management team and ensure that items are executed.
• Manage resource requirements and motivate additional requirements where needed. Allocate salary increases and bonuses amongst the department and address non-market related instances.
• Manage training requirements

Accountability: Manage the functional risks

• Act as key sponsor for the area is Risk Management Control Framework.
• Review audit scopes defined by managers in the function and Absa Internal Audit or Management Assurance prior to audits commencing. Review audit issue/findings logs to ensure adequate attention is given to closure within the agreed timelines, specifically relating to issues in Financial Reporting Complete required compliance and process attestations and ensure that impacted team members complete their attestations.
• Review and approve Detailed Risk and Control Assessments prepared in the function. Complete attestations to testify to the adequacy of controls. Oversee the development of Key Risk Scenarios.
• Actively work to minimize the amount of economic capital that must be set aside for operational risk.
• Drive a culture of proactive compliance in the function.

Knowledge & Skills

• Quantitative finance skills
• Risk knowledge (credit and market risk)
• Negotiation
• Report writing
• Presentation skills
• Conflict Management
• Coaching
• Problem solving
• Interpersonal skills
• Management and leadership

Education And Experience

• Chartered Accountant (SA)
• Experience in managing teams
• Experience in financial analysis
• Experience in managing processes with several stakeholders
• Experience in Banking (Retail, Wealth, Investment Banking, Wholesale Banking, Treasury) & Insurance

Competencies

• Technical Knowledge
• Learning and researching
• Talent management
• Relating and networking
• Adapting and responding to change
• Persuading and influencing
• Financial analysis