Jobs at FirstRand Corporate Centre

Role Purpose

To provide a proactive, in-house Tax Risk service to the Retail & Commercial Bank of the FirstRand Group. The person will be deployed to the Retail & Commercial Bank (FNB & WesBank) and required to travel within the various campuses i.e.: BankCity; Fairlands and Sandton (as may be necessary) together with working in a hybrid working environment (home and office).

The FirstRand Group’s Tax risk is managed on a centralised basis by the Tax Risk Management team within FirstRand Group Tax (FRGT). Where appropriate, a deployed model is adopted for specific divisions within the Group. Tax Risk Management wishes to appoint a Tax Risk Specialist, with responsibility for the management of the Direct Tax risk affairs of the Retail & Commercial Bank. The Tax Risk Specialist will be deployed to Retail &Commercial and will report to the Tax Risk Manager. The Tax Risk Specialist will have responsibility for the functions listed below relating to the tax affairs of Retail & Commercial and (where required) and other areas within the FirstRand Group. The Tax Risk Specialist will work together with the Tax Risk Manager to ensure consistent application of guidelines, policies and legislative changes.

Responsibilities

• Attending, and providing Tax risk insight to various Retail & Commercial committees;
• Attending various Tax Forums within Retail & Commercial and assisting with the preparation of the Agenda’s for such meetings;
• Reviewing, advising and making recommendations in respect of the Direct Tax implications of Retail &Commercial transactions and products;
• Identifying Direct Tax risks within the various areas within Retail & Commercial and finding appropriate solutions;
• Ensuring that any transaction, product or query, which has other tax implications, such as Value-Added Tax or Employees’ Tax implications, is discussed with the relevant Tax experts within FRGT;
• Providing Tax advice with the objective of optimising the Tax and risk profile and identifying Tax saving opportunities;
• Establishing, communicating and implementing Taxation policies and frameworks within the Retail &Commercial Bank;
• Monitoring compliance with Tax legislation within Retail & Commercial;
• Communicating changes to Tax legislation and judicial decisions to Retail & Commercial;
• Co-ordinating Tax training and update sessions for Retail & Commercial;
• Ability to support business areas in respect of client’s Tax queries;
• Ability to ensure relevant systems are developed in compliance with Tax legislation;
• Managing Tax related projects as and when the need arises;
• Building new and enhancing existing working relationships with Retail & Commercial; RMB; FCC and any other segments, as maybe necessary.
• Escalation of Tax issues to management, where necessary.

Additional Requirements

• Integrity;
• Foster collaboration;
• An understanding of business strategy;
• Analysis of data and information (qualitative and quantitative);
• Effective presentation skills;
• Excellent communication skills;
• Knowledge management skills;
• Ability to manage concurrent projects, involving coordination of numerous processes and people;
• Ability to make independent decisions, creatively solve problems and provide meaningful and innovative solutions and advice;
• The person will be required to travel between Bank City; Fairlands and Sandton, as maybe required.
• Technically strong;
• Assertive;
• Team player;
• Ability to debate issues when required;
• Passionate and energetic;
• Self motivated;
• Organized;
• Able to handle pressure;
• Able to work independently;
• Thorough;
• Attention to detail;
• PC literate/Microsoft Office skills.
• Own car essential

Qualifications and Experience

• CA(SA) or equivalent, i.e. Attorneyor Honours degree, with MComm / HDip Tax;
• Post graduate Tax qualification;
• At least 5 years Financial Services Tax consulting experience (necessity),
• Experience in the Tax arena of the Financial Services/Insurance industry, alternatively in the Financial Services Tax consulting division of a large auditing firm/large legal firm;
• Broad and practical experience across all Tax competencies, including Direct Tax (Income Tax), Indirect Tax(VAT) and Employee’s Tax;
• Understanding of financial instruments, financial markets and the Retail and Commercial Banking industry;
• Understanding of International Tax principles and the ability to apply such knowledge to practical situations;
• Strong background in Corporate Tax (and legal aspects thereof);

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FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand’s business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you!

Are you someone who can:

• Contribute insights into the establishment of Group Treasury’s funding curves
• Surveillance of money market screen to ensure pricing is in line with Group Treasury’s funding strategy, liquidity position and appetite
• Ensure that the money market screens adhere to statutory requirements set by the SARB as prescribed in the Jibar Code of Conduct
• Work to the spirit of the OTC market conduct
• Act as custodian of all FirstRand pricing screens
• Provide quantitative support to money market dealers on the pricing of secondary market trades
• Provide internal clients with funding solutions to the benefit of their franchises or client business
• Distribute the daily internal funding rate sets to all the franchises
• Pricing of all internal funding and the booking of those transactions into the systems.
• Post trade management of those transactions to ensure settlement thereof and risk transference of interest rate risk to the designated risk management function within treasury
• Analyse and report on PNL and risk movements across all the funding and liquidity portfolios managed by the desk
• Build and maintain professional working relationships with all stakeholders
• Initiate meetings with key stakeholders to track progress, manage expectations and ensure stakeholders’ requirements are delivered
• Preserves relationships despite airing conflicting views and seeks mutual gains when addressing conflicts.
• Act promptly to resolve problems, queries and complaints
• Demonstrates pride in the organisation’s brand, services and products by consistently delivering on the brands promise.

You will be an ideal candidate if you:

• Have completed a BSc Degree with Mathematics, Investment management, financial mathematics or equivalent financial degree
• Have appropriate experience within a treasury, dealing or market making environment advantageous.
• Have experience within a market risk management discipline an advantage
• Have relevant quantitative analysis and experience

You will have access to:

• Challenging work in a complex and exciting environment
• Opportunities to innovate and create efficiencies.
• Opportunity to price and trade money market products with all local banks
• Opportunity to obtain RPE accreditation

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Are you someone who can:

• Obtain a good understanding of the IT control environment being audited (including link to business processes and risk management related aspects), and the interdependencies linked to this.
• Plan audit assignments based on key process and business risks identified and design the audit program in line with risks and key IT application controls to be tested.
• Incorporate data analytics (DA) to enhance audit planning and create efficiencies in audit fieldwork.
• Execute audit field work in compliance with quality standards by following and completing prepared work programs. Assess the adequacy and effectiveness of governance, risk management practices and internal controls.
• Evaluate IT areas such as information security, operations management, and disaster recovery procedures related to the IT application controls to be reviewed.
• Provide clear and sufficient audit evidence to support recommendations and audit opinion.
• Express an opinion based on the results of the work performed.
• Identify opportunities to improve the IT internal control environment and project management processes.
• Identify and clearly articulate the root cause of issues identified and impact thereof and recommend changes to business processes that will address the IT and Project control weaknesses.

You will be an ideal candidate if you:

• BSC / BCom (Information Systems) or equivalent degree.
• At least 3 years Application Control Reviews (ACR) and / or Project auditing experience.
• Experience with data analytics/ CAATs is an advantage.
• Experience in banking and financial services environment will be an advantage.

You will have access to:

• Challenging work in a complex and exciting environment
• Opportunities to innovate and create efficiencies.

We can be a match if you are:

• Curious & courageous - you're driven by always wanting to know more and learn more and you're brave enough to
• Obsessed with mastery - you know what it takes to become good at what you do and are constantly pushing yourself to do it.
• Have a general understanding of different risk types.

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Are you someone who can:

• Obtain a good understanding of the control environment being audited (including information technology, internal financial control and risk management related aspects), and the interdependencies linked to this.
• Plan audit assignments based on key process and business risks identified and design the audit program in line with risks and key controls to be tested.
• Incorporate data analytics (DA) to enhance audit planning and create efficiencies in audit fieldwork.
• Execute audit field work in compliance with quality standards by following and completing prepared work programs. Assess the adequacy and effectiveness of governance, risk management practices and internal controls.
• Provide clear and sufficient audit evidence to support recommendations and audit opinion.
• Express an opinion based on the results of the work performed.
• Identify opportunities to improve internal controls, including internal financial controls.
• Identify and clearly articulate the root cause of issues identified and impact thereof and recommend changes to business processes that will address the control weaknesses.
• Prepare a quality and balanced audit report to specified standards, encapsulating the control weaknesses identified and results of audit work performed, with minimal editorial changes.
• Incorporate fundamental principles, key issues and control themes emanating from other functional areas and assurance providers to ensure relevant & appropriate audit findings.

You will be an ideal candidate if you:

• Qualified CA(SA) or Bachelor’s degree or equivalent qualification.
• At least 3 years’ experience in internal or external audit preferred.
• Articles and professional certifications will be advantageous.
• Experience in banking and financial services environment will be an advantage.

You will have access to:

• Challenging work in a complex and exciting environment
• Opportunities to innovate and create efficiencies.

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Are you someone who can:

• Provide management over a portfolio of clients and deliver high quality audit and assurance service, including preparing and reviewing audit plans and work.
• Maintain the highest technical and professional standard.
• Think strategically about client needs by understanding their business and key risks.
• Manage the quality of audit work output to ensure excellence is achieved through the application of end-to-end integrated risk-based reviews.
• Ensure that the audit team continually identify and report on potential financial, operational risks (including IT risks) and regulatory risk when conducting audits
• Ensure that actual vs. approved/revised plan (including special requests) achieve the required coverage %
• Manage the Annual Audit Plan, continually reassessing and revising based on key or emerging risks.
• Identifying ways to maximise the relationship with clients and deliver added value by elevating our status to trusted partner / trusted advisor.
• Ensure excellence in reporting to governance structures (Audit Committee, Risk Committee, Regulatory Committee)
• Ensure the efficient utilisation of tools / techniques to improve audit efficiencies (CAAT's, flow charts, research, ADR/Google, analytical reviews.
• Interact with all assurance providers and actively participate in various executive and committees’ meetings.
• Ensure that the audit team reach their goals through monitoring and performance management.

You will be an ideal candidate if you:

• A qualified Chartered Accountant/ BCom honours Degree.
• with financial savvy, a strong background in Financial, Operational (including IT) and Regulatory Risk Management.
• 5+ years of internal / external audit experience, ideally with exposure to financial services and the banking industry.
• A post-secondary qualification in IT e.g. CISA/CISM accreditation would be advantageous.
• Team player with strong interpersonal, communication and project management skills including leading teams of at least 5 team members.

You will have access to:

• Challenging work in a complex and exciting environment
• Opportunities to innovate and create efficiencies.