Job Opening at Absa

Job description

An opportunity has become available in Financial Control within the Wealth investment Management and Insurance (WIMI) business. We are looking for an individual to contribute to the effective financial management of the business by providing financial leadership, directing financial activities and controlling accounting practices, as it relates to the FC operational activities.

Accountability: FC Strategy and Planning

Contribute to the development of the strategy for FC by providing advice on the financial reporting, control and financial risk management aspects.
Formulate controls and an operating model

Accountability: Financial Control and Reporting

• Coordinate the preparation of financial reports, special data analysis, and adhoc information reports by managing a team of financial accountants.
• Direct and oversee financial operations, including coordinating the execution of day to day, general accounting functions.
• Contribute to the timely and accurate submission of monthly, quarterly or annual reporting to the relevant regulators, including any reporting to the Financial Services Board or equivalent regulatory authority.
• Attend regular accounting updates and guide the cluster to conform to all newly accepted accounting standards.
• Coordinate and manage the daily and monthly finance operational processes and procedures relating to product systems and bank accounts including the timeous resolution of reconciling items and managing the clearing of aged items.
• Ensure that all accounting policies and/or changes as advised by Financial Control, are implemented and executed within the cluster.

Accountability: Financial Systems and Models

Based on the standards determined by Regional Financial Control, arrange for the evaluation and update of the financial systems in place in the business (systems include financial reporting systems and product systems etc.). Make recommendations to Financial Control Technology Enablement on systems enhancements required.
Where standard systems and tools do not meet reporting requirements, investigate alternative solutions and make comprehensive recommendations and implement alternatives. Oversee the programme management of the implementation.
Based on issues identified through daily and monthly controls and reconciliations, drive the implementation of improvements and enhancements to product systems and tools to enable reduction of product to General Ledger breaks.

Accountability: Financial Control and Compliance

Effectively implement Absa's GL Control Framework within the business and ensure compliance through accurate reconciliations of all GL balance sheet accounts, transaction monitoring of all GL accounts, GL Control attestations.
Analyze the contents of all reconciliations done within the cluster through effective
Monitoring and control activities to ensure proper financial control and discipline within the cluster.

Accountability: Financial Risk Management

• Engage with senior management on risk and control matters
• In collaboration with the Financial Controller, work with the Operational Risk team to develop Key Risk Scenarios and Risk Control Assessments (RCA's)
• Ensure that control issues are escalated to process owners and key stakeholders.
• Engage and manage interaction with assurance providers including Barclays Internal Audit, external auditors and management assurance functions and ensure that any control findings are appropriately addressed.

Accountability: People Management

• Lead a team of financial specialists to achieve excellent operational results through continuous people development and mentoring activities.
• Ensure the development of a high-performing team through embedding formal Performance Development and informal coaching.
• Establish and maintain a succession plan for the team members using the formal Talent Management process for identified talent and an informal process for remaining roles.
• With the support from the HR Business Partner, interview and recruit direct reports
• Approve leave requests for direct reports and ensure that teams manage their leave effectively.
• Act as first level escalation point for all grievances raised within the department.
• Ensure that all poor performance is addressed through the Absa Performance Accelerator Programme and that continued poor performance is adequately dealt with.
• Motivate employees in the department and ensure that their efforts are recognized.
• Develop appropriate Employee Opinion Survey (EOS) action items together with the management team of the business unit and ensure that items are executed.

Education and Experience Required

• Minimum NQF Level 6 : B-degree in Finance
• Insurance Back Ground Advantages
• 5 to 10 years relevant experience
• 5-10 Years Management experience
• Financial Services back ground preferred
• Highly rated by previous employer
• Exceptional academic track record
• Outstanding Achievements and accolades
• South African citizen

Knowledge & Skills: (Maximum of 6)

• Procedures and processes : Level : Do and Instruct
• Financial Controls and Audit knowledge: Do and instruct
• People management : Level : Do and check
• Coaching : Level : Do without supervision
• Communication skills : Level : Do and check
• Influencing : Level : Do without supervision

Competencies: (Maximum of 8 competencies)

• Applying expertise and technology
• Analysing
• Presenting and communicating information
• Leading and supervising
• Coping with pressure and setbacks
• Deciding and initiating action
• Adapting and responding to change
• Persuading and influencing