Absa Group Limited (Absa) has forged a new way of getting things done, driven by bravery and passion, with the readiness to realise the possibilities on our continent and beyond.
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There is a vacancy in the Treasury Non-Zar Short Term Funding team for the role of Product Controller.
The overall responsibility of this role includes, but is not limited to, daily Profit and Loss production and balance sheet substantiation, reconciliations, financial reporting, Annual Financial Statement preparation, tax calculations, forecasts and involvement in broader initiatives.
Products on the desk are: Foreign loan and deposits, Bonds , Interest rate swaps , currency swaps, Nostro’s , Currency Investment Account and Customer Foreign Currency Accounts.
Job Description
Production related responsibilities:
Accounting – posting to the General Ledger accurate and timely information, in accordance with IFRS
Substantiation of the trading balance sheet – ensuring the full balance sheet can be substantiated
Regulatory reporting alignment - ensuring the Balance sheet is aligned to reports send to regulators
Data ownership – Ensuring the quality and accuracy of the data going downstream to other infrastructure areas
Control environment – Overseeing the control environment in which the business operates
Profit and Loss review – understanding and providing commentary on the Profit and Loss; displaying an understanding of the applicable Greeks (attribution) to explain Profit and Loss moves and the respective products on the desk. Being able to relate the said moves to Market trends or behavior.
In the process of production, focus is needed on:
Reporting – Ensuring reporting is accurate and timely
Control – Ensure a robust control environment and report any deficiencies or issues to managers/relevant stakeholders
Key Accountabilities:
Profit and Loss production and BS substantiation
Reconciliations including timely resolution of breaks/issues
Financial reporting, including but not limited to monthly management packs.
Interaction with key stakeholders
Process Owner
Regulatory reporting
Strategic and/or Project and /or Change related Initiatives
Role/Person Specification
CA or CFA qualification/candidacy
Financial Accounting (including IFRS) knowledge
Investment banking or Product Control experience
Product specific knowledge is an added advantage
Individual must be strong with regards attention to detail/accuracy, and able to operate within a complex environment
Experience in creating and maintaining an effective control environment
Experience with Projects and / or Strategic Initiatives and / or Change Management
Education
Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (Required)
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