Jobs Available at Al Baraka Bank South Africa

CORE PURPOSE OF THE JOB

•  To formulate and incorporate the strategy for the finance division to optimize productivity and contain costs and ensure that the finance strategy is aligned to the banks strategic objectives.

Strategy

• Formulates the strategy for the Finance Division to optimize productivity and contain costs and ensures that this is aligned with the bank’s strategic objectives.
• Reviews the banks income and expenditure with a view to formulating recommendations to improve the banks overall performance.
• Ensures that the strategic objectives for the finance division are implemented within the agreed time frame.

Compliance

• Keeps abreast of new developments within the banking industry to ensure compliance from a financial management and reporting point of view.
• Remains fully conversant with the requirements of the Banks Act, its regulations and the Companies Act.
• Keeps up to date with international financial reporting standards (IFRS) and ensures compliance by the Bank.
• Advises the FD and Executive Management on the impact on the Bank of proposed and actual legislative changes more particularly relating to the banking, company and taxation discipline. 

Special Projects

• Undertakes and/or manages special projects and/or assignments as may be requested by the FD from time to time.
• Remains fully conversant with the Basel llI framework and reporting requirements in respect of the Banks Act and regulations.

Reporting

• Oversees and reviews the preparation of Reserve Bank Returns and ensures that they are submitted according to deadlines.
• Establishes relationships with external institutions to formulate and innovate Shariah compliant investment opportunities to maximize the bank’s revenue from surplus funds on hand.
• Ensures that internal controls are appropriate for the financial division and that procedural manuals are always up to date.
• Ensures that all reconciliations are kept up to date and that all reconcilable amounts are addressed regularly.
• Oversees the preparation of appropriate models and schedules to enable management and the Board to access the adequacy of the bank’s existing capital as well as its projected capital structure.
• Ensures that appropriate cost allocation processes are monitored.
• Critically reviews the monthly management accounts for reasonableness and identifies reasons for variance to business unit level.

Budgets

• Provides guidance and direction with respect to the bank’s budget and 5 year forecast, ensuring the budget and 5-year forecasts are prepared within the groups time frames and submitted to Executive Management for review prior to submission to the Group and the Board.
• Plays an active role in the bank’s strategic planning process.
• Ensures that the banks internal capital adequacy assessment process is appropriately managed; maintained and reported on.

Treasury Management

• Oversees the bank’s treasury management function to ensure it is appropriately managed in all aspects.
• Indentifies and evaluates financial institutions for purposes of establishing exposure limits.
• Evaluates investment commitments to ensure that the best possible returns are achieved.
• Reviews the bank’s investments on an ongoing basis.
• Ensures the development, implementation and review of a sound treasury risk management methodology.

Financial Management

• Attends to all taxation matters pertaining to the South African Group including tax management and planning.
• Provides guidance to Executive Management with regard to growth and income targets for the budget exercise.
• Ensures that a 12 month rolling budgeting system is implemented and maintained.
• Co-ordinates and oversees the preparation of interim and year – end financial statements in conformity with IFRS.
• Co-ordinates and oversees the preparation of monthly, quarterly and year-end reporting packs according to the time-frames and requirements of the bank’s holding company.
• Ensures that the Financial Sector Charter (FSC) reporting requirements are adhered to.
• Co-ordinates and liaises with the bank’s external auditors to ensure proper planning and execution of the bank’s audit requirements.
• Attends Executive Committee Meetings; namely: ALCO; EXCO; Board; and Management Risk Committee Meetings.
• Participates and contributes towards any issues reviewed at these meetings.
• Co-ordinates, oversees and reviews the preparation of management and monitoring reports as may be required by ALCO, EXCO, the Board and Board Committee. 
• Attends any other meetings that may be required by the FD or CE from time to time.
• Evaluates and improves, where required, the overall effectiveness of the accounting function and system.
• Maintain and enhance profit distribution model, including managing the timely loading of the weekly profit rates.
• Ensures all finance related activities relating to the property company is maintained and meet all required reporting standards.

Requirements

QUALIFICATIONS

• CA(SA) or similar relevant qualification

PREFERRED EXPERIENCE

• Microsoft Office products with specific reference to Advanced Excel
• Exposure to Reserve Bank Returns
• Knowledge of Basel III requirements
• Knowledge of IFRS standards
• At least 5 years previous banking experience

KNOWLEDGE

• Financial Management
• Taxation
• Budgeting and forecasting
• Liquidity and treasury management
• Financial modelling
• Systems and technology
• Banking operations
• Project management
• People management

go to method of application »

MAIN FUNCTIONS OF THE JOB

Sanction Screening

• Maintain an effective sanctions screening process
• Updates watchlists as and when required
• Maintains custom watch lists
• Provides guidance on bank’s sanctioned countries and high risk jurisdictions in line with the bank’s risk framework and enhanced due diligence requirements
• Assists with monitoring legislative/ best practice requirements that impact sanctions/ sanctions screening
• Assists in the preparation of memos to staff and communication to management/ staff on areas of sanctions/ sanctions screening.
• Prepares and conducts presentations to staff and regulators on sanctions screening
• Assists with drafting and maintaining Sanctions Screening policy and procedure documents
• Assists in submitting returns and reports to Regulators when required
• Assists with reports to EXCO and FICA EXCO regarding true positive alerts for clients already on the customer database e.g. PEPS, adverse media, SAFPS etc.
• Provides support to the AML Officer by assisting with AML Officer duties in the absence of the AML Officer and on alternate Saturdays
• Monitors for non-compliance and maintains records of non-compliance for auditing purposes
• Undertakes special projects when required

 Training

• Assist with the development of training material relating to sanction screening
• Assists the AML Supervisor and AML Officer to train staff and management on the watchlist screening system /sanction screening
• Conducts intensive training to users on the sanction screening system

Second in charge to MLCO

• Analyses alerts on the transaction monitoring system (SAS AML) and conducting investigations of suspicious activities
• Monitors non-compliance of FICA through exception reports (when required) , queryi with the branches and follows up
• Assists the branch with enquiries
• Reports on STRs, CTRs, TPRs, IFTRs, as and when required
• Prepares FICA packs for FICA EXCO meetings, takes minutes and makes enquires etc.

Requirements

QUALIFICATIONS

• A tertiary related qualification in Anti Money Laundering /Counter Terrorist Financing /Sanctions is required.

EXPERIENCE

• A minimum of 3 years administrative and/or banking experience is preferred
• Experience with a sanction screening system is an advantage 

KNOWLEDGE

• Microsoft Office
• Knowledge of the bank’s systems
• Knowledge of sanction screening systems eg. Lexis Nexis
• Knowledge of bank’s policies and procedures
• Knowledge of AML/CTF/ Sanctions