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  • Posted: May 4, 2021
    Deadline: Not specified
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  • Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. Barclays Africa Group Limited is 62.3% owned by Barclays Bank PLC and is listed on the JSE Limited. The Group is one of A...
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    Product Controller

    This position ensures that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Risk Management Framework and Internal ABSA Policies and Standards.

    Job Description
    Accounting and Reconciliation Management: Perform accounting-related tasks
    The Product Control Governance and Controls Team carries out the following:

    • Performing duties of a First Line of Defense team which include:
    • Evaluate the control Environment by understanding end to end processes; identifying inherent process risks; establishing Risk tolerance for process risks and identifying where controls are required
    • Respond to the controls by ensuring they are appropriately designed, implemented and weaknesses are remediated
    • Monitor and Test controls in accordance with the ABSA Assurance Standard
    • Defining, maintaining and updating Policies and Standards applicable to Product Control
    • Attendance of GLRS, Adjustment and KRI meetings and identifying risk items and challenging in these meetings
    • Facilitate PC specific Policy and Process Training and involvement in the GFDF Training Academy
    • Collation of Material Reporting Packs for SARB, FRRC and Group Finance KRI
    • Data ownership – Ensuring the quality and accuracy of the data going downstream to other infrastructure areas
    • KRI controls – standardizing these across Product Control teams and reporting to senior management

    Accountability: Control environment:

    • Understands and complies with all applicable governance, compliance and risk policies and procedures
    • Fosters an atmosphere of compliance, ensures regulations are observed, and puts relevant processes in place for staff to escalate problems
    • Accountable for implementation of Group’s risk control framework for area of responsibility. This includes but is not limited to oversight of the teams’ responsibility across:
    • Sound understanding of the system and product flows, the risks associated with the breaks and root cause remediation
    • Thoroughness, rigor and attention to detail regarding products, processes and controls
    • Help Product control teams understand material risks and issues
    • Challenge existing processes and controls ensuring best practice across finance

    Accountability: Technical knowledge:

    • Excellent understanding of relevant and up-to-date technical knowledge, applications and techniques.
    • Recognized as an expert in their discipline.
    • Continually delivering process improvement and challenging the status quo
    • Champions best practice.
    • The ability to appraise issues/situations quickly and to identify appropriate next steps

    Accountability: Projects/Change

    • Efficiency – looking for continuous improvement in the efficiency by which the desk carries out its work.
    • Reporting – looking for continuous improvement in the reporting ability and performance of the desk
    • Control – looking for continuous improvement in the ability of the desk to control the business

    Skills Required:

    • Energetic and proactive approach
    • Strong product knowledge
    • Robust control mentality
    • Proven IT understanding
    • Strong communication and influencing skills

    Education And Experience Required

    • B degree/similar qualification in a financial/related discipline with 5-7 years’ relevant experience or CA(SA) with 2 years PQE experience
    • Investment banking or Product Control experience preferred

    Competencies:

    • Deciding and initiating action
    • Learning and researching
    • Entrepreneurial and commercial thinking
    • Relating and networking
    • Adapting and responding to change
    • Persuading and influencing
    • Creating and innovating
      The Product Control Governance and Controls Team carries out the following:
    • Performing duties of a First Line of Defense team which include:
    • Evaluate the control Environment by understanding end to end processes; identifying inherent process risks; establishing Risk tolerance for process risks and identifying where controls are required
    • Respond to the controls by ensuring they are appropriately designed, implemented and weaknesses are remediated
    • Monitor and Test controls in accordance with the ABSA Assurance Standard
    • Defining, maintaining and updating Policies and Standards applicable to Product Control
    • Attendance of GLRS, Adjustment and KRI meetings and identifying risk items and challenging in these meetings
    • Facilitate PC specific Policy and Process Training and involvement in the GFDF Training Academy
    • Collation of Material Reporting Packs for SARB, FRRC and Group Finance KRI
    • Data ownership – Ensuring the quality and accuracy of the data going downstream to other infrastructure areas
    • KRI controls – standardizing these across Product Control teams and reporting to senior management

    Accountability: Control environment:

    • Understands and complies with all applicable governance, compliance and risk policies and procedures
    • Fosters an atmosphere of compliance, ensures regulations are observed, and puts relevant processes in place for staff to escalate problems
    • Accountable for implementation of Group’s risk control framework for area of responsibility. This includes but is not limited to oversight of the teams’ responsibility across:
    • Sound understanding of the system and product flows, the risks associated with the breaks and root cause remediation
    • Thoroughness, rigor and attention to detail regarding products, processes and controls
    • Help Product control teams understand material risks and issues
    • Challenge existing processes and controls ensuring best practice across finance

    Accountability: Technical knowledge:

    • Excellent understanding of relevant and up-to-date technical knowledge, applications and techniques.
    • Recognized as an expert in their discipline.
    • Continually delivering process improvement and challenging the status quo
    • Champions best practice.
    • The ability to appraise issues/situations quickly and to identify appropriate next steps

    Accountability: Projects/Change

    • Efficiency – looking for continuous improvement in the efficiency by which the desk carries out its work.
    • Reporting – looking for continuous improvement in the reporting ability and performance of the desk
    • Control – looking for continuous improvement in the ability of the desk to control the business

    Skills Required:

    • Energetic and proactive approach
    • Strong product knowledge
    • Robust control mentality
    • Proven IT understanding
    • Strong communication and influencing skills

    Education and Experience Required

    • B degree/similar qualification in a financial/related discipline with 5-7 years’ relevant experience or CA(SA) with 2 years PQE experience
    • Investment banking or Product Control experience preferred

    Competencies:

    • Deciding and initiating action
    • Learning and researching
    • Entrepreneurial and commercial thinking
    • Relating and networking
    • Adapting and responding to change
    • Persuading and influencing
    • Creating and innovating

    Method of Application

    Interested and qualified? Go to Absa on absa.wd3.myworkdayjobs.com to apply

    Note: Never pay for any training, certificate, assessment, or testing to the recruiter.

  • Send your application

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