Product Control - Governance & Controls at Absa Group Limited (Absa)

Job Summary

AVP role in the CIB Finance Product Control 1st line of defense (1LOD) Governance team for the Global Markets; Treasury and Corporate business units. At a high level, this entails risk management in full compliance with regulatory requirements, Enterprise Risk Management Framework and Internal ABSA Policies and Standards. It also encompasses performing Assurance activities to enable, ensure the establishment and maintenance of a robust control environment whilst managing and monitoring the risk profile in line with applicable risk appetite.

Job Description

The role requires the candidate to execute the Product Control 1LOD mandate. The role has demanding product and technical content, and the sheer pace of activity and growth within the firm, necessitate an energetic and proactive approach. Strong product knowledge and a robust control mentality are essential, along with proven IT understanding and an aptitude for being self-driven. Strong communication and influencing skills are also a must have as the role requires one to interact with a wide range of stakeholders and will be required to manage expectations and present at risk forums in line with 1LOD role.

Core activity for the Product Control, Governance and Control Team entails the following:

• Defining, maintaining and updating Policies and Standards applicable to Product Control
• Attendance of GLRS meetings and identifying risk items and providing the necessary challenge to ensure a robust control lens is applied at these meetings
• Performing duties of a First Line of Defense team which at a high level pertain to the evaluation; monitoring and testing of controls - this also evolves to responding to and/or identifying control gaps.
• Understanding the end to end process flows and activity in the areas we look after so we play an advisory role and guide accordingly on risk management practice. This also empowers us to spot emerging risks and futureproof the business and organization as a whole
• Facilitating the PC specific Policy and Process Training and running the FC Academy across CIB ARO Finance
• Collation of Material Reporting Packs for SARB, FRCC and Group Finance KRI
• KRI controls – standardizing these across Product Control and reporting to senior management

Operational activity includes but is not limited to

• Sound understanding of the system and product flows, the risks associated with the breaks and root cause remediation
• Challenge existing processes and controls ensuring best practice across finance
• Interacting with Line Controllers for issue resolutions
• The ability to build strong working relationships with business, other infrastructure units and Assurance colleagues
• The capacity to work under pressure and the experience needed to flag concerns or articulate /report on risk
• Interaction with various areas across the Absa Group in order to obtain and understanding of the impact these areas have on Product Control as well as providing both formal reporting as well as ad hoc query resolution to these areas.
• Areas PCGC covers include: Absa CIB Markets Product Control Team, Absa CIB Treasury Product Control Team, Absa CIB Transactional Banking Product Control Team, Absa CIB Global Finance Product Control Team and Absa CIB Financial Control and Financial Decision Support.

Candidate to have

• Excellent understanding of own field. Up-to-date with relevant sector/department knowledge, and has insight into external market developments/initiatives
• Networks effectively in the market
• Is able to look at information with understanding of risk and control implications.
• Able to articulate the major issues surrounding his/her areas of work
• Demonstrates initiative in rethinking how the team’s functions or their objectives in executing our mandate should be changed to be more productive/efficient.
• Demonstrates effective use of a network of people and resources through the department.
• Influencing and negotiating skills.
• Consistently solves problems effectively and creatively.
• Excellent project management skills.
• Ability to mitigate risk.
• Excellent communication in both formal and informal settings, and at all levels
• Has the ability to break down barriers and ability to address conflict with another department.
• Makes timely and effective decisions and produces results even in the face of adversity.
• Reputation for producing results.
• A high level of focus on client relations. Always proactively seeking to improve the relationship but in the right way

Accountability: Technical knowledge:

• Excellent understanding of relevant and up-to-date technical knowledge, applications and techniques.
• Recognized as an expert in their discipline.
• Continually delivering process improvement and challenging the status quo
• Champions best practice.
• The ability to appraise issues/situations quickly and to identify appropriate next steps

Accountability: Projects/Change

• Efficiency – looking for continuous improvement in the efficiency by which the desk carries out its work.
• Reporting – looking for continuous improvement in the reporting ability and performance of the desk
• Control – looking for continuous improvement in the ability of the desk to control the business

Skills Matrix Summary:

• Energetic and proactive approach
• Strong product knowledge
• Robust control mentality
• Proven IT understanding
• Strong communication and influencing skills

Competencies

• Deciding and initiating action
• Learning and researching
• Entrepreneurial and commercial thinking
• Relating and networking
• Adapting and responding to change
• Persuading and influencing
• Creating and innovating

Education And Experience Required

• B degree/similar qualification in a financial/related discipline with 5 or more years’ relevant experience or CA(SA) with 2 years PQE experience
• Investment banking; Risk and Assurance type or Product Control experience is preferred

Education

• Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (Required)