Financial Controller - Product Solutions Cluster at Absa Group Limited (Absa)

Job Summary

• An opportunity has become available within the Financial Control business. We are looking for an individual to support the Head of Financial Control Cluster – Product Solutions Cluster (PSC) in the execution of their responsibilities and to manage the day-to-day functioning of the Cluster Financial Control functions.

Job Description

• To act as a strategic partner and primary interface between the following stakeholders: Regional Financial Control functional teams, Head of Financial Control Cluster: Product Solutions Cluster and the related CFO’s / business cluster.
• This role is critical to enable alignment between the top priorities of the business, the priorities of the relevant CFO’s and the priorities of Financial Control. The financial controller needs to have a comprehensive understanding and oversight of the key enablers, key issues and top priorities in Financial Control, across all functions in Financial Control and across all the affected business clusters. The financial controller is responsible for review and oversight over all deliverables that are done at the overall cluster level, including statutory financial reports, regulatory reports, audit reports etc.
• Influence the business cluster decision makers by providing an in-depth knowledge of financial performance and business, enabling the business to deliver on strategic objectives.

Accountabilities

• Act as the liaison to external and internal audit and provide assurance to Financial Control and all relevant risk committees that all controls are appropriate and financial statements are fairly stated.
• Provide support to cluster stakeholders, functional heads in Financial Control and cluster Financial Controllers on the following strategic matters:
  • Implementation and embedment of cluster initiatives and projects.
  • Changes in Accounting Standards.
  • Changes in Regulatory Standards.
  • Changes in systems, IT platforms, processes and controls.
• Provide support to cluster stakeholders, functional heads in Financial Control and cluster Financial Controllers on the following recurring deliverables and responsibilities:
  • Closure and reporting of monthly financial results;
  • Monthly attestation and monitoring of reconciliation and attestation process together with reporting of Financial Reporting Key Risk Indicators;
  • Managing and tracking of periodic regulatory reporting;
  • Governance inputs and preparation of reports and submissions;
• Provide decision making support and recommendations regarding the MI presented to cluster, to relevant EXCO’s / MANCO’s and the CFO’s.
• Facilitate any scenario planning to cluster Management teams / other forums that may be required regarding the actions that could be taken in various economic environments.
• Manage the cluster Finance Risk and Reporting Committee (FRRC) to ensure that issues pertaining to cluster are appropriately addressed.
• Facilitate and build relationships with senior executives and resolve disputes in a professional manner.
• Ensure collaboration between all stakeholders with respect to Financial Control related matters.
• With the assistance and guidance of the Head of Financial Control Cluster: Product Solutions Cluster, attend to the following:
  • Together with the Financial Control Functional Heads and HR determine the people management strategy for the resources in Financial Control that need be focused on cluster, with a focus on talent management, development, resourcing and retention.
  • Review training needs for resources within Financial Control that are responsible for cluster support and ensure that the Finance Training Framework is appropriately updated to include new training requirements.
  • Review effectiveness of the formal Talent Management process.
  • Provide leadership and support to initiatives implemented by the FC MANCO.
• Evaluate resources based on an assessment of resource gaps in existing roles. Ensure Financial Control MANCO understands evaluation of resource gaps pertaining to resources dedicated to cluster, with the assistance and guidance and support of the Head of Financial Control Cluster: Product Solutions Cluster.
• Act as key sponsor for Financial Control’s overall Risk Management Control Framework, as it pertains to the cluster.
• Review audit scopes defined by managers in the team and Absa Internal Audit or Management Assurance prior to audits commencing.
• Review audit issue/findings logs to ensure adequate attention is given to closure within the agreed timelines.
• Complete attestations to testify to the adequacy of controls on request.
• Oversee the management of key financial risks within cluster. Actively work to minimise risks and maximise capital efficiencies.
• Ensure that principles of the Financial Control TOM are complied with & sustained with the support of Head of Financial Control Cluster: Product Solutions Cluster.
• Standardise, where practical, approaches and controls across cluster;

Knowledge & Skills: 

• Knowledge of Absa Group;
• Knowledge of IFRS with specific focus on IFRS9 and IFRS17;
• Understanding and knowledge of the Banks Act Regulations as well as Insurance Act and related regulations;
• Knowledge of Tax Law and regulations;
• Presentation skills;
• Conflict Management skills;
• Analytical skills;
• Communication Skills;
• Leadership and management skills;

Education and Experience Required

• Minimum requirement: B Com Honours or equivalent qualification in Accounting, Finance or related;
• Strongly preferred: CA(SA);
• 5 to 7 years PQE experience;
• Business experience in a Banking environment gained from a Finance, Product Management or Front /Middle office role preferable;
• Experience in running multi-faceted projects

Competencies: 

• Analyzing;
• Deciding and initiating action;
• Formulating strategies and concepts;
• Leading and supervising;
• Persuading and influencing;
• Presenting and communicating information;
• Relating and networking;
• Working with people