Senior Manager: Finance and Performance at Absa Group Limited (Absa)

Job Summary

• Develop tactical strategy and delivery plans, formulate associated practice/s and ensure operational implementation and adoption i.t.o. finance & performance management methodology, governance and delivery objectives.

Job Description

Key Accountabilities

Accountability: Financial Leadership and Support to business

• Provide direction to the business executive committee (exco)or individual Manco’s based on analytical review of the Business Performance and an understanding of key business drivers
• Provide clear direction to the Manco on what the business requirements and imperatives are by translating current business performance into actionable business objectives aimed and driving and improving performance.
• Translate Cluster strategy into meaningful operational targets for the business unit under management. Ensure that the focus areas are disseminated to all levels in the business unit
• Represent the business at a Cluster Level and negotiate and secure the budget and plans for the business unit and together with the Head of Cost and Optimisation take accountability to ensure the delivery on the promised business results.
• Negotiate with the various stakeholders on the targets set and drive the overall achievement of performance objectives in the business unit through the performance management function within the required business parameters.
• Drive cost management objectives for functions within Everyday Banking
• Drive continuous process efficiency, financial rigor and controls. Pioneer and implement Finance best practices, digital solutions and effective change enablement.
• Drive change proactively aimed at continuous improvement in all areas of the business.
• Foster strong relationships with business units by establishing a customer service culture within the commercial finance team.
• Understand the Customer agenda and help business to adjust their financial plans to enable changing funding requirements
• Review of 3rd Party contracts and provide support to CFO for sign-off.

Accountability: Financial management and Business Partnering

• Drive the processes around month-end, year-end and planning cycles across the Everyday Banking finance community and BU based on the requirements from Group and Everyday Banking. Prepare for all cycles in advance and ensure adequate engagement with the relevant finance and BU teams.
• Full finance function monthly for all support functions (Enablement functions) in Everyday Banking (reviewing of financial accuracy of records, passing of journals, contract and other accrual management, GRLS management, etc.)
• WD 2, 3, 4 and 5 Flash Reporting
• Working with business unit heads define the cost center structures and rollup/ consolidation to effectively manage the businesses performance
• Work with business unit heads to determine their performance reporting (financial and non-financial) needs and agree deliverables on an annual basis
• Define and develop management reports internally.  Where applicable, contract with system developers and data providers to develop the reports
• Ensure "one version of the truth" for all reporting and that management reporting reconciles/agrees to reports produced within other areas of the business
• Prepare the variance analyses for the different business units and discuss major variances, on the cost and income sides, with business unit heads to gain an understanding of the reasons
• Provide input and ensure the quality of submissions into the Cluster Exco pack (as compiled by the Cluster CFO) with a focus on the variances, reasons for variances and overall business performance of the cluster.
• Lead investigations into cost saving initiatives and make comprehensive recommendations to the business unit head and CFO.
• On request from project/change teams, provide input and support during the development of business case financials for new projects or initiatives

Accountability: Financial forecasting

• Prepare the detailed cost budgets of all support function (Enablement functions) in Everyday Banking (RAF, STP, MTP) in accordance with business plans.  Prepare for all cycles in advance and ensure adequate engagement with the relevant finance and BU teams.
• Prepare and critically review the financial plans during MTP, STP and RAF and quality check the consolidations prior to recommending approval to the Cluster CFO.
• Guide business unit team and participate in the forecasting and scenario planning processes by providing a view on the financial impact on the cluster of changing internal financial strategies
• Advise business unit decision makers on the process and requirements during the MTP (Medium Term Planning), STP (Short-term/budget planning) and RAF (Revised Annual Forecast) cycles. Ensure that their commitment and thorough input is obtained for these activities and support them with translating strategy into financial objectives on request
• Review and amend the TP charge out methodologies of support functions (Enablement functions) in Everyday Banking to reflect the most accurate charge out of cost basis based on the usage of services.  Liaise with the central TP team to update charge out models accordingly and review output of these model.
• Preparation of interlock documentation on a yearly basis

Accountability: People Management

• Develop internal capability through the recruitment and development of a capable team who will ensure the necessary resources are in place to achieve business strategy and objectives.
• Together with the HRBP for the business unit implement the people management strategy for the area with a focus on talent management, development, resourcing and retention
• Embed formal Performance Development and informal coaching in the Team
• Motivate team and implement measures in place to recognize their direct reports
• Motivate team members through coaching and mentoring them to perform optimally around the vision and values, create a sense of urgency and excitement around the business and ensure that they strive to deliver optimally

Accountability: Risk Management

• Act as sponsor for the area’s Risk Management Control Framework and manage and ensure compliance of the relevant policies
• Implement areas identified in the review of audit issue/findings logs and ensure adequate attention is given to closure within the agreed timelines by the accountable incumbent within the team.
• Complete required compliance and SOX attestations and ensure that impacted team members complete their attestations
• Review and approve Control Risk Assessments (RCA's) prepared in the function.
• Complete attestations to testify to the adequacy of controls on request within specific area
• Implement Key Risk Scenarios. Actively work with other managers to ensure the risk in the BU is minimised and to ensure the optimisation of the amount of economic capital that has to be set aside for operational risk.

Role / Person Specification

Education and Experience Required

• NQF Level 7: Honours/Masters Degree
• CA(SA) or equivalent NQF level 7 qualification
• At least 5 years general management experience in a banking finance environment
• At least 3 years experience in successful performance management
• At least 3 years experience as a proactive change agent
• Experience in a Leadership role

Education

• Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required)