Vacant Jobs at Al Baraka Bank South Africa

KEY PERFORMANCE AREAS

Bank Reconciliation

• Runs an extract of all iMal Transactions for each branch, and then inputs the information into a cash book.
• Ensures all branch iMal entries tie up to the bank statement and all allocations are correct.
• Provides all reconciliations to external auditors upon request and attends to their queries.

ABG Bank limits

• Updates information on Cash balances and interbank placements for ABG reporting by the 6th of each month.

lntersystem Reconciliation

• Ensures iMal Branch Automation system is linked to the Debit Card systems. This is done to ensure the branches are capturing entries on both systems.

SWIFT messages

• Verification of SWIFT messages when required by the Treasurer.

Monitoring

• Monitors bank charges and interest throughout all bank accounts
• Prepares a schedule regarding bank charges and interest on a monthly basis which ties up to PowerBI.

Month end schedules

• Prepares month end recons and working papers for review.
• Ensures all outstanding items are raised with branches/ departments and resolved.

General

• Any ad hoc duties required
• Assistance in projects when required

QUALIFICATIONS

• A BCom degree or Relevant Qualification in Finance / Accounting will be required in order to meet the requirements of the role at the highest level of competence.

EXPERIENCE

• A minimum of 2-3 years of experience in banking, with at least 1-2 years prior experience in reconciling of cash and cash equivalents.

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MAIN FUNCTIONS:

Payment processing

• Capturing of payments on the bank’s payment systems
• Ensuring all banking details, supporting documentation, authorized signatories and allocations are correct.

Month end journals and schedules

• Preparing the monthly journal to allocate prepayments to the correct expense categories.
• Ensures that the VAT is correctly accounted for on each transaction.
• Preparing and balancing the month end schedule to the general ledger.
• Ensure the suspense accounts are balance and cleared timeously.
• Prepares month end schedules timeously and follows up on any outstanding items.
• Processing of routine month-end journals

Other duties

• Administrational functions of Financial Manager & GM - Finance.
• Completion of ad-hoc tasks when required

Allocation of receipts and payments on the bank statement

• Allocation of all Electronic transfer payments made within 1 day after date of payment. 
• Preparing journals for the sweeping of funds on bank accounts within 1 day of date of the transaction date.
• Journalising of any receipts or donations on the charitable and welfare a/c.

Forex

• Prepares and processes Forex journals as per information provided by the Forex department daily
• Ensures that the general ledger accounts reconcile with the daily schedules and transactions provided by the Forex department.

International Banking Journals

• Prepares and processes the journals required for international banking payments.

Asset Management

• Maintain and update the fixed asset register, ensuring all acquisitions, disposals, and adjustments are accurately recorded.
• Monitor and verify the physical existence and condition of assets through periodic asset audits and reconciliations.
• Ensure proper documentation and approval for asset acquisitions and disposals.
• New asset acquisitions – ensuring that documentation is accurately prepared for the purpose of recording such acquisitions on the fixed asset register.
• Staff terminations – ensuring that Bank assets are returned and recorded on the fixed asset register.
• Replacement assets – ensuring that old assets are returned by staff and recorded on the fixed asset register.
• Location renovations – ensuring that old assets are removed from the register.
• Disposal of assets – ensuring that old/damaged/written-off items are removed from the bank’s premises. 
• Transfer of assets between locations or staff – ensuring that such transfer is recorded on the register.
• Conduct cyclical counts – to ensure the fixed asset register is maintained accurately throughout the year. 

Financial Reporting

• Prepare and review asset-related financial reports, including depreciation schedules and asset valuations.
• Assist in the preparation of financial statements and reports related to fixed assets for internal and external stakeholders.

Compliance and Controls

• Ensure compliance with relevant accounting standards, tax regulations, and internal policies related to fixed assets.
• Develop and implement internal controls and procedures to safeguard fixed assets.
• Support external audits by providing necessary documentation and responding to audit queries.
• To be involved in the attempt to continuously improve the service levels provided by the Finance department
• Ensure all work is performed in accordance with agreed timings and SLA’s.
• Assist Finance staff with queries from other departments or clients. 
• Assist internal & external clients timeously & efficiently. 
• Assist in training other staff and providing assistance where necessary.

Qualifications:

• Diploma/degree in finance/accounting or related studies.

Experience:

• A minimum of 1-2 years’ experience is required in a well-established firm or bank in all general aspects of banking / reporting.
• Proficient in all areas of finance, including Journal entries, schedules, petty cash recons.

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MAIN FUNCTIONS OF THE JOB

Risk Management

• Identifies Key Risk Indicators (KRI) and tolerance levels, where appropriate in respect of  major risks facing the bank through workshops and meetings with Risk Owners  
• Records and maintains the risk register for Risk events and risk indicators, with an analysis and prioritise actions to mitigate associated risks.
• Ensures that Risk Management Programmes are maintained and up to date with current developments and trends within the industry and in keeping with Group policies and that they are appropriate for the bank.
• Develop and enhance the risk management framework, policies, and procedures specific to Islamic banking to effectively identify, assess, and mitigate risks.
• Monitor and analyse internal and external risk factors
• Assist to ensure compliance with regulatory requirements related to risk management and Islamic banking principles.
• Implement risk management tools and systems to facilitate risk identification, measurement, and reporting.
• Specific focus on credit, capital, liquidity, and operational risk management. Other risk areas must be also considered especially in terms of its impact on the Bank.
• To use robotics and artificial intelligence where possible to improve risk reporting.

Bank’s Annual Risk Functional Plan:

• Assist to develop objectives for the plan
• Completing risk monitoring and reporting and ensuring clarification of risk measurement based on impact and probability are recorded appropriately.
• Escalating risk matters requiring attention and making appropriate recommendation to mitigate risks, where appropriate to the risk manager
• Implement the annual functional plan for the risk management department, aligning objectives with the organization’s strategic goals.
• Assisting in setting key performance indicators (KPIs) and targets to measure the effectiveness and efficiency of risk management initiatives.

Regulatory:

• Identify and comply with regulatory requirements pertaining specifically to risk management such as the implementation and continuous embedment of Risk Data Aggregation and Risk Reporting (RDARR).
• Maintain an updated ICAAP that considers the major risks facing the Bank and capital required to manage.
• Identify any other regulatory requirements that may require risk management assistance such as Recovery Plan, Cyber resilience, Business Continuity etc.
• Assist to Implement ABG recommendations on credit, liquidity, and other risk areas where necessary.

Strategy:

• Contribute to the development and execution of the organization's risk appetite and risk tolerance framework.
• Assist with managing and reporting of the Banks development and implementation of the Strategic plan.

Internal Controls and Insurance:

• Assist to ensure the maintenance of robust internal control mechanisms to mitigate risks and comply with regulatory requirements.
• Collaborate with relevant departments to assess insurance needs, ensuring adequate coverage for identified risks.

Administration

• Complies with departmental policies and procedure manuals in line with Banks Act and Regulations, Board directives and best business practice.
• Evaluates policies and procedures including methodologies, measurement, and reporting on an ongoing basis and amendments effectively implemented across the organisation.
• Assist to report departmental progress monthly to EXCO, quarterly to Risk and Capital Management Committee of the Board
• Assist to monitor Functional Plans as approved and ensures that it is adhered to, completed and remains within the department’s budget.
• Monitoring of department budget and reporting to EXCO and investigates monthly variances
• The development and maintenance of risk management policies and procedures to ensure their effectiveness and alignment with the organization’s objectives.
• Collaborate with other departments to implement risk management initiatives

Internal and External Communication

• Daily, weekly, and yearly planning meetings with the Risk Manager to identify any key events that require attention.
• Distributes Risk reports to Chairman of Risk and Capital Management Committee and line Executive.
• Communicates feedback regarding impacts and probability of significant risks to the risk manager and pro-actively manage risks requiring urgent attention.
• Communicating with external consultants, auditors, and other industry role players (SABRIC, SAFPS, BASA, etc)
• Attending meetings hosted by SARB, BASA, SABRIC, SAFPS,BASA etc

Qualifications:

• A B. Com degree or Relevant Qualifications in Risk Management or equivalent will be required to meet the requirements of the role at the highest level of competence
• A newly qualified Chartered Accountant would be advantageous

Experience:

• A minimum 3 years of Auditing and /or Banking experience