Specialist: Management Accounting at Absa Group Limited (Absa)

Job Summary

• To provide and interpret financial information to all stakeholders of the business for informed decision making.

Job Description

Accountability: Financial Planning

• Update and maintain cost center structure as required. Closing of cost centres not in use. Reallocate cost to   correct cost center as well as name changes.
• Create the following budgets from a zero base: Revised Annual Forecast (RAF), Medium
• Term Plan (MTP) and Short Term Plan (STP) in line with group requirements and timelines.
• Manage the planning processes to ensure that the budgeting process is planned and driven and in compliance with Absa process and support business strategies.
• Meet with relevant stakeholders to prepare the assumptions for the RAF, MTP and STP, this pertaining to forecasts and budgets.  Consolidate input and provide comparative analysis. 
• Discuss findings with line managers about increases, decreases or trends.
• Prepare the assumption sheet to support the forecasts and budgets for the BU (RAF`s, MTP`s and STP)
• Prepare comparative Income Statements between STP, RAF and MTP, forecasts based on historical information drawn from the financial system or Management Information reports.
• Approve and submit financial planning documents in line with company deadlines.  Upload of MTP in Compass and STP in SAP
• Prepare presentation and waterfall for EXCO and Board.   Update when required, keeping track of cost stretch and initiatives.  Provide insightful comments.
• Check and challenge Interdiv TP during interlock sessions.
• Update RAF by WD13 unless required to do before - timelines to be communicated.

Accountability: Month end Accounting, Journals and Reconciliations

• Prepare expense flash information as per Group Finance/diary reminders on a monthly basis. Submit to BP team and line managers in line with agreed timelines.
• WD-4 flash to be send to line managers with calculation of estimated expenses and raise risks and opportunity. Inform line manager of any outstanding transactions and quantify accordingly.
• Submitting all over the top journals to FC by WD2 before 12:00 and updating Amortisation schedule.
• Perform checks and balances to ensure that the accounting and reporting process complies with Absa`s Group financial policies and procedures e.g. Absa Group Finance timelines.
• Over see that provisions are raise or reverse in line with Group policy.
• Maintain and improve relations between finance and cost center owners by distribution cost reports and highlighting line items over budget. Give proactive recommendation to cost center managers on cost control. 
• Update cost center reports and load to SharePoint by WD10. Set up quarterly feedback sessions with cost center managers to discuss actuals vs. budget and provide minutes on action items.
• Ensure that reallocation Claims handling and acquisition is done before the last day of the month.  This needs to be updated daily until month end close off.
• Recharge recon to be completed by WD10
• Review and approve all accounting journals in accordance with the journal policy, checking that all journals have valid supporting documents.
• Keep copies of all journals processed, including journals processed at the central processing department and Over The Top (OTT) journals.
• Review reconciliations for all accounts on the General Ledger Control Framework (GLCF) and AO&R policy to valid supporting documents [e.g. signed journals remittance advice for payments made, calculations signed off by an authorized manager, Amortisation schedule per the Agree reconciliations to the supportive calculation or 3rd party, investigate unreconciled amounts with the Head of Finance for sign off.
• Provide insightful comments on AFS Board or Group requests.
• Communicate Convergent breaks with line manager investigate and resolve in following month. Raise IAR or misclassification as required and correct in the following month.
• Sign off on Consigno and Convergent with in time lines communicated. 

Accountability: Month end Reporting

• Prepare and present monthly expense to CFO. This needs to be done by WD15. Provide insightful comments in understanding variances.
• Expense analysis to be completed by WD10. This includes Prof Fees, software, overtime, training, Printing and postages. Analyze and review expense reports together with adjustments, variance analysis and commentary on a monthly basis and as required on a quarterly basis.
• Tech Presentation to be submitted by WD10
• Prepare Business performance pack by WD8 and submit for review. Update changes and submit to BP on WD8
• Submit FTE and rand value to HR by 25th of the month and provide comments on variances.
• Provide guidance to business in correcting FTE on cost centers where applicable.

Accountability: People Management

• Manage a team of financial administrative assistants to ensure effective delivery accounting service
• Develop a high performing team by embedding formal performance development an Informal coaching.
• Encourage frequent knowledge sharing between team members.
• Determine and analyses development needs for the team and ensure that identified training requirements are budgeted for and executed.
• Establish and maintain a succession plan for the team.
• Interview and recruit new members of the team, including determining appropriate Compensation levels with input from Human Resources.
• Create effective workforce and recruitment demand plans to ensure that current and future business requirements can be met. Plans should be revised at least twice a year.
• Review and update the department’s organization structure and role description on at least an annual basis to ensure that they are fit for purpose and contain all the accountabilities of each team member.
• Motivate to and obtain approval for any additional headcount for the team.
• Approve leave requests for team members and create leave plans to ensure adequate coverage.
• Monitor overtime and ensure that it is kept to a minimum. Report excessive overtime to management and create plans to address the issues. When required, initiate disciplinary processes for team members calling on support from Human Resources when required.
• Resolve grievances raised by team members and escalate only if required.
• Address poor performance of any team member through the formal Performance Accelerator programmed and ensure that continued poor performance is appropriately dealt with.
• Motivate team members and ensure that their efforts are recognized. -Coordinate all human resource related issues to ensure full compliance with all HR policies
• Manage performance developments and update Performance system in line with timelines.
• Apply the highest standards of controls and risk management practices and behaviors, embed a positive risk, and control culture. 
• Demonstrate prudence, sound judgement and appropriate and timely escalations in the management of all types of risk applicable to my role.
• Understand my role in the business end to end processes, including applicable risks and controls and how this improves the service, we provide to our customers
• Adhere to Absa frameworks, policies and procedures applicable to my role, demonstrating sound judgement and responsible risk management, and when required highlight breaches and request Dispensations and waivers on a timely basis
• Report all risk events/incidents/issues immediately upon discovery and escalate significant events/incidents/issues using the defined process for my business area
• Help to understand why risk events/incidents/issues happened and identify how to prevent them in future - focusing on fixing root causes and taking ownership of identified actions
• Proactively identify ways to improve the control environment by considering what could go wrong in the processes I operate and how errors could be prevented - focusing on fixing root causes and taking ownership of identified actions
• Complete all mandatory training to deadline
• NQF level 6 Degree in Accounting or equivalent - Not-Negotiable
• Minimum 5 years Reconciliations experience is Not- negotiable
• Not more than Five (5) years’ experience in an accounting environment​

Education

• Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (Required)

End Date: November 13, 2025