Product Controller: CPF Equities at Absa Group Limited (Absa)

Job Summary

To ensure accurate financial reporting and maintenance of a robust control environment. The Product Controller will be tasked with performing month-end reporting procedures including comprehensive management reporting, reconciliation and substantiation of account balances and financial, tax and regulatory reporting. Further responsibilities include performing independent valuation assessments on the equity and property investments, budgeting process and facilitation of the external audit process and preparation of financial statements.

Job Description

Key Accountabilities

Accountability: Financial management and Business Partnering

• Partner with and support the respective front office stakeholders.
• Posting to the General ledger and planning system timely and accurately.
• Produce and present Management Information to the relevant business owners and executives on a monthly basis including financial actuals against forecasted trends.
• Compile and present quarterly financial results to respective board of directors.
• Ensure that the control environment is robust, ensuring accurate reporting.
• Prepare and present monthly financials and variance commentary to stakeholders.
• Preparation of financial statements in accordance with IFRS.
• Facilitation of the external audit process and engagements with the audit team.
• Substantiation of the full balance sheet and presenting in GLRS meetings.
• Preparation of payments and monthly journals.
• Performing the tax and deferred tax calculations and VAT packs for respective legal entities.
• Submit monthly flash with commentary to the Line Controller
• Implement financial and payment controls to ensure accurate reporting and standing data.
• Participate in business initiatives and projects to improve efficiency and reduce cost.
• Improve efficiency and effectiveness of the processes and controls.
• Ensuring the quality and accuracy of the data going downstream to other infrastructure areas.
• Rigorously monitor expenditure against approved budgets for areas of accountability and put measures in place to address variances.
• Monitor financial trends and identify gaps, based on gaps identified, motivate requests and new ways of work to the relevant business owner.
• Perform financial modeling and equity investment valuations and attend the Valuation committee meetings.

Accountability: Business Planning

• Partner with front office and line managers to complete sound annual financial plans within the agreed timeframes.
• Review the 3-year forecast for Medium Term Plans (MTP's) for the area of accountability in accordance with BU strategy annually.
• Review the 3-year forecast for Short Term Plans (STP's) for the area of accountability in accordance with BU strategy annually.
• Review the 3-year forecast for Revised Annual Forecast (RAF) for the area of accountability in accordance with BU strategy annually.

Accountability: Governance and controls

• Apply the highest standards of controls and risk management practices, and Pro-actively identify ways to improve the control environment.
• Implement required governance processes to support improved financial management practices within own area of responsibility.
• Review the reconciliations submitted in terms of the GL Framework on a monthly basis.

Job Description

Education

• Bachelors Degree and Professional Qualifications: Business, Commerce and Management Studies (Required)