Specialist Cluster Accounting Control - Insurance Cluster at Absa Group Limited (Absa)

Job Summary

Primary contact person for accounting control process issues, resolution of issues and ad hoc requests from stakeholders including: 

•     Cluster Financial Controller 
•     Cluster CFO/BP&A team members 
•     Other Financial Control functions

Job Description

Accountability: Managing Accounting Control engagement model and resolution of cluster related issues (80%) 

• Primary contact person for accounting control process issues, resolution of issues and ad hoc requests from stakeholders including:
• Cluster Financial ControlleR
• Cluster CFO/BP&A team members
• Other Financial Control functions
• Obtain TAG opinions when required for ad hoc questions and accounting issues.
• Accountable for execution of ad hoc activities that do not fall within an Accounting Control process.
• First level review of results (income statement, balance sheet and off balance sheet) and month end cluster level issue resolution where resolution resides in an Accounting Control process.
• Review of monthly and quarterly supplementary disclosure.
• Accounting Control representative at key Financial Control forums relevant to cluster.
• Team member and cluster level input for accounting control process improvement initiatives.
• Accountabilities related to Accounting Control key processes:
• Engagement with process teams to ensure awareness of delays in month end close and/or journal issues and communicate these to relevant stakeholders.
• First level review of impact of journals on month end results (income statement, balance sheet and off balance sheet) and resolution of issues as a result of journals (e.g. missing journals, duplicate journals, errors in journals)
• Execution of cost centre owner responsibilities as per the Account Ownership and Reconciliation policy for cost centres where Accounting Control is cc owner.
• Co-ordination and resolution of GLRS action items.
• Awareness of issues in interdiv/elimination process and be involved in resolution of cluster related issues.
• Awareness of issues in tax process and be involved in resolution of cluster related issues.
• Execution of the accounting control input to cluster NPA processes
• Cluster input to accounting functions activity and process improvement.

Accountability: Drive performance through motivation and employee engagement (20%) 

• Senior leadership role within FC, responsible for leadership, guidance and enablement of team, either directly, or as an SME where leadership and management responsibilities include that of significant influence across the Financial Control function
• Play role in strategic vision formulation process, in conjunction with Functional / Cluster Heads
• PD input for process team members that input to and assist in resolution of cluster related issues.

Knowledge & Skills: 

• Knowledge of the Long term Insurance industry
• Experience in investment accounting including IFRS 9
• Long term insurance accounting (IFRS 4)
• Regulatory reporting in an Insurance Company
• Insurance taxation knowledge advantageous
• Exceptional academic track record
• Team management experience
• Understanding of financial reporting processes and related controls (Expert)
• Ability to identify control gaps and weaknesses (Expert)
• Ability to analyze and interpret financial data (Expert)
• Ability to write concise effective reports (Expert)

Experience and knowledge:

• Knowledge of the Long term Insurance industry (NON NEGOTIABLE)
• Experience in investment accounting including IFRS 9
• Long term insurance accounting (IFRS 4)
• Regulatory reporting in an Insurance Company
• Taxation knowledge for insurance industry
• CA(SA) minimum 5 years post qualified

Competencies: 

• Deciding and initiating action
• Driving performance through employee engagement
• Entrepreneurial and commercial thinking
• Relating and networking
• Adapting and responding to change
• Persuading and influencing
• Creating and innovating

Education

• Postgraduate Degrees and Professional Qualifications: Financial Sciences (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