With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
To perform financial analysis and provide financial accounting services.
Job Description
Key Accountabilities
The role will be required to identify trends and financial risks. Delivering and presenting of accurate financial information in order to assist in strategic decisions for the GCF Division.
Accountability: Managing the Finance Environment
- Execute strategic objectives as articulated by the Chief Information Officer (CIO) for the Business Unit (BU) explaining key focus areas to Executives and line managers.
- Review of actuals, processing of necessary reallocations and capturing against IT Contract Registers
- Having a holistic view of the environments direct and indirect cost base
- Review and present monthly financials and variance commentary to stakeholders and where required support the Senior Finance Business Partners with presentation to Exco Meetings.
- Implement and monitor cost control initiatives within the different functional areas within the Business Units in order to achieve overall Business Unit cost targets.
- Track cost savings benefits within the business unit for which the role is responsible as and when required.
- Implement programmes and financial systems and policies as may be directed by the Senior Finance Business Partner for the financial year.
- Compile and present Management Information to the relevant business owners on a monthly basis including financial actuals against forecasted trends.
- Participate in business initiatives or Group and Cluster financial initiatives on behalf of the business unit where required and ensure deliverables and frameworks are effectively implemented in own area of responsibility. (e.g. financial transfers between business units, group financial projects and business unit level financial drives and programmes).
- Rigorously monitor expenditure against approved budgets for the areas of accountability and put measures in place to address variances. Continuously identify areas for improved efficiency and reduced cost.
- Allocate duties to team members where required to execute and coordinate finance activities required within the business unit to ensure adherence to sound financial management and accounting practices within Business Unit.
- Monitor financial trends and identify gaps and motivate requests and new ways of work to the relevant business owner.
- Provide financial advice and guidance to line managers and business owners on new initiatives, current budget management practices and trends in expenditure in their areas of accountability.
- Explain targets and take accountability for the monitoring and achievement of own and team performance objectives in the department in terms of return on investments, financial risk, financial planning and governance.
- Create and present quarterly and monthly plans to ensure delivery for the year.
- Conduct basic statistical analysis to track performance variances and determine the root causes of errors. Make recommendations for productivity or process enhancements to process owners.
- Implement productivity improvement measures by coaching line managers on any new processes or on their areas for improvement.
- Populate balanced scorecards for the specific department on a monthly basis. Work with the team to address shortcomings during the next month. Escalate any major issues identified to the next level manager.
- Participate in the measurement and reporting of internal and external Service Level Agreements on a monthly basis.
- Address any process failures specific to the department under management.
- Partner with the departments and the BU 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 forecast for Revised Annual Forecast (RAF) for the area of accountability in accordance with BU strategy annually
- Partner with the departments and the BU line managers to complete sound annual financial plans (MTP and RAF) within the agreed timeframes.
- Present financial plans for review to Senior Finance Business Partner and Tech CFO for sign-off.
- Prepare and present formal bridges showing agreed budget per business area to Tech CFO and CIO for sign-off.
- Review the expenditure against budget with accountable managers on a monthly basis and engage on areas of over expenditure or cost opportunities and help line managers to implement initiatives where budget savings can be made.
- Prepare the reconciliations submitted in terms of the GL Framework from the Finance Business Partner (FBP) on a monthly basis.
- Ensure that processes, control requirements and risk management frameworks that have been designed for the area are understood by all members of the team and that these are adhered to on a monthly basis.
- Implement required governance forums to support improved financial management practices within own area of responsibility. (e.g. monthly finance reporting, monthly finance meetings.)
- CA (SA) qualification preferred.
- 3+ years professional financial management experience.
- Experience in a Technology environment and/or Banking industry is desirable.
- Knowledge and skills:
- Experience in executing finance processes.
- Experience in financial reporting, planning & analysis.
- Experience in commercial innovation environments.
- Broad Finance including strategic, commercial, legal, risk and operational aspects.
- Understanding of the financial services sector within a professional business environment.
- Knowledge of building collaborative work environments.
Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
