Head: Planning and Reporting at Bidvest Bank

ABOUT THE POSITION

Responsible for strategic translation of business strategy and financial reporting across the Bank. Commissioning automation across the various business units and leading change management through singular financial reporting. Managing senior stakeholders regarding strategic financial reporting and planning across the Bank and ensuring there is one financial data source. Includes strategic planning, budgets, and forecasts, interpreting financial results, monitoring cash flow, capital expenditure programmes, management reporting systems development, special investigations/reports, operating efficiency studies and feasibility studies. Also responsible for the preparation of management information and its interpretation that is in alignment with IFRS.

FINANCE
Management operations

• Review of reconciliations of various internal financial and non-financial data sources

• Review financial planning reporting outputs and ensure all aligns to group submitted reporting

• Understand the operations of the various systems within the Bank and all divisions and how these feed into the reporting system

• Understand all Business Units and the financial impact across to the Bank

• Review GL mapping for both internal and external reporting to ensure accurate and consistent.

• Update Management Reporter with new GL mapping.

• Address all substantive and control issues raised to ensure findings do not reoccur

Cost Efficiency

• Ensure the financial planning function performs at its optimum with current resources available, while being aware of the Bank's position to invest in new systems or tools

• Analise potential cost saving/ revenue enhancement initiatives for the Bank and provide feedback to exco as requested

CUSTOMER CENTRICITY
Stakeholder engagement

• Provide strategic support to all Bank business units in delivering on their outputs impacting on all financial planning cycles

• Communicate and manage all financial planning timelines and deliverables from all business units

• Analyze and understand each business units' unique requirements to best solve for their needs

• Continuously engage with all stakeholders to ensure all requirements are clear and achievable

• Ensure correct stakeholders have access to their relevant information from financial planning

• Manage FD and Exco expectations on financial planning functions' outputs

OPERATIONAL EXCELLENCE
Policies and procedures

• Compile all training material for each financial planning reporting cycle

• Assist and train on any new financial planning process or requirements

Process Management

• Management of the end-to-end processes included in the financial planning cycles

• Ensure financial planning processes supports all stakeholder requirements

• Implementation of controls to mitigate process weaknesses

• Continuously enhance processes as the financial planning function evolves

• Implementing automation where possible

• Engage with IT and external IT vendors to assist with any areas in financial planning identified for automation / enhancement

• Improve processes, turnaround times and controls within the finance operations area

• Implementation of controls to mitigate process weaknesses

• Assist internal or external audit where required.

• Raise and discuss any issues regarding system/ process weaknesses as identified for compensating internal systems and controls to be implemented

• Feedback to applicable staff to ensure that the required departments apply the correct procedures identified

• Improve processes, turnaround times and controls within the finance operations area

• Implementation of controls to mitigate process weaknesses

GL structure maintenance

• Advice on opening new general ledger accounts and cost centers

• Review high level GL mapping for both internal and external reporting is accurate and consistent products of the bank.

• Review GL mapping, advice of clean up (if necessary)

• Update Management Reporter with any new GL accounts and Cost centers.

Analysis

• Review Bank's consolidated submitted reporting and identify areas requiring further clarification

• Review business unit submitted reporting and challenge / enquire on any identified variances and/or anomalies

• Review Bank's balance sheet and align non-product items where required

• Understanding of the Bank's overall strategy and how it impacts on each business unit

• Translating the business unit strategic initiatives into measurable budget components for tracking purposes

• Support cost management initiatives by identifying drivers of costs, including overhead costs and costs of sales

• Utilize management information tools innovatively to assist the division / business unit in their decision-making process.

• Analyze performance of the Bank and Business Unit and deliver only relevant information to the Management team to enable them to recommend appropriate actions, in order to improve business performance across the Bank.

• Analyze and interpret financial information and forecasting as well as the measurement, and to report financial results for the Bank as a whole / business unit to provide early warning to management of any probable issues and proposed solutions

• Monitor and review business performance results on a monthly and quarterly basis, supported by the preparation and dispatch of Bank performance reports

• Continuously monitor performance and progress of the business, in relation with agreed key performance measures

• Revenue leakage identification, analysis, reporting and tracking

• Development and maintenance of profitability and pricing models where required

• Profitability analysis and reporting:

• BFS Division
• Bank Consolidated
• Business Unit

 Product
Channel

• Client and segments

Reporting

• Preparation, Collation and dispatch of business performance reports including but not limited to the below:

• Consolidated and Segment Financial Results
• Bidvest Bank FD Report
• Bidvest Bank Audit Comm FD Report
• Bidvest Bank Board Report
• BFS Flash Commentary report
• Bidvest Financial Services Board Report

Advanced Due Diligence and Valuations on Acquisitions.

• Perform Financial due diligence and impact analysis on Bank wide Acquisitions.

• Perform High Level valuation on Bank wide Acquisitions.

• Interpretation and writing of Report for use in discussion of Acquisitions and negotiations.

Activity Based Costing

• Responsible for overall Activity Based Costing models across the Bank.

• Liase with different Business Units to maintain and update models.

• Assist and provide feedback on any cost saving opportunities identified.

Training

• Keeping abreast of own development and ensure exposure is gained based on development areas including IFRS

• Provide training and development to staff

Qualifications
Minimum

• B Com Accounting Degree

Ideal

• B Com Honors Financial Management
• CA(SA)/ACMA

Experience
Minimum

• 10 years' experience in banking finance
• 3 years' experience as management accountant / analyst in MI/BI environment
• 4 years management experience

Ideal

• Comprehensive understanding of the Bank's processes, systems and interfaces
• Knowledge, Skills and Abilities Required (Competencies & level of competencies)

Minimum

• Ability to identify weaknesses in the control environment and implement change

• Understand the operations of the various systems within the bank and how these feed into the reporting system

• Financial acumen

• Ability to operation effectively under pressure

• Resourceful

• Proficient in the follow bank systems:

• Management Reporter

• Excel

• SAS Cost and Profitability Management

• Proficient in Microsoft Office (Advanced Excel skills)

• Understanding of Valuations.

Ideal

• Same as minimum

WORKING CONDITIONS (office bound/on-site/travel)
Remote working
Travel

This role is eligible for remote working, it is important for an individual occupying this role to have a suitable work from home environment or dedicated work space at home

Desired Skills:

• Management Reporter

• SAS

• Corporate Finance