Junior Consolidation Reporting Business Partner

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Job Description

Role overview

The Jhb/CPT based role for a Financial Accountant within the IFRS Financial Reporting team responsible for business partnering in the OMLAC (SA) Group and will report to the Head of Consolidation. The role will also work closely with the Head of Statutory Reporting. The main function of the role is:

• Preparing and/or reviewing specific inputs and outputs of the OMLAC (SA) and OML consolidation, in accordance with International Financial Reporting Standards, Group accounting policies, Companies Act and JSE Listings Requirements.
• Specific focus on the OMLAC (SA) consolidation.
• Interpretation and communication of complex financial issues and concepts to all stakeholders, including senior management.
• Being a subject matter expert on key areas through development of a deep understanding of value drivers, risks and key Audit Committee focus areas.
• Understanding and explaining the internal and external business unit and consolidated Group information, both financial and non-financial
• The role will also manage and/or support other formal internal and external reporting deliverables including the OML financial statements, SENS announcements as well as the preparation of internal documents to support these deliverables.

Key Result Areas

Financial Reporting: Accountable for the deliverables of the segment consolidation, which includes inter alia:

• Analyze and review the financial performance of the sub-segments forming part of OMLAC (SA) as well as the consolidated Group, preparation of analytical reviews and write commentary as appropriate to assist understanding and insight
• Quarterly consolidation supporting where required
• Identify the need for consolidation journals and correcting entries to segment submissions and the Group consolidation and understand the impact on the Group result
• Preparation and/or review of relevant consolidation journals and consolidation proofs
• Review of business unit submissions, raising and efficient resolution of queries
• Prepare ad hoc information, presentations or reports and provide challenge and explanation to stakeholders where required
• Assist with management of the inter-company matching and eliminations processes
• Manage and maintain Disclosure Management System, the system used for the production of IFRS Financial Statements
• Management and preparation of ancillary information around the interim and year end reporting as appropriate
• Provide guidance to the team and segments on the practical application of technical accounting opinions (e.g. Accounting for business combinations in the Hyperion Financial Management system (HFM) to ensure complete and accurate reporting
• Leading various aspects of the external reporting process for the consolidated OML Group, including analytical review, drafting and completing financial statement disclosure notes, implementation of new accounting standards, and developing efficient data collection mechanisms as appropriate.
• Keeps abreast of current accounting and tax developments Governance & compliance. Integrating accounting, actuarial and tax knowledge in terms of analysis and interpretation of technical issues
• Ensuring compliance with International Financial Reporting Standards, Companies Act, JSE Listings Requirements and Group accounting policies through active engagement with segments, technical accounting, and accounting systems (HFM) teams
• Ensuring HFM structures and Chart of Accounts are accurate by timeously logging amendments as part of the HFM change release cycles
• Pro-actively reviewing and improving the consolidation process, including proposing and testing changes to the consolidation tool (HFM) as required
• Adherence to the financial and internal controls framework for Group Finance

Management effectiveness:

• Creating, maintaining and enhancing productive working relationships with segments and the wider IFRS Financial Reporting Team
• Business partnering with segment accounting teams by actively engaging with them in addressing key issues and to provide advice on resolving those issues that may impact the financial results of the Group
• Managing interdependencies and relationships with key stakeholders such as External Reporting, Internal Reporting, Regulatory Reporting, Balance Sheet Management, Group Actuarial, and Tax
• Liaising with auditors, ensuring the timely and accurate proofs, and audit trail for segment consolidation and the OMLAC(SA) annual and interim financial statements
• Understanding the interactions of all financial reporting aspects of the Group and use this knowledge to provide advice to stakeholders as required
• Participating and/or lead on other ad hoc projects and activities as appropriate
• Manage and prioritize multiple tasks

Qualifications, Skills And Required Experience

• Qualified CA (SA) with approximately 2-5 years post qualification experience
• Thorough understanding of International Financial Reporting Standards, JSE Listings Requirements and the accounting treatment of Insurance Companies with exposure to IFRS 17
• Must have experience in consolidations and/or financial reporting of a listed multi-national
• Understanding of legal and management consolidation structures with a strong appreciation of need for process disciplines and controls
• Exposure to multi-currency environment
• Ability to deal with complex technical issues
• Attention to detail
• Strong analytical skills

Technical & Core Competencies

• Extensive and demonstrable experience with HFM or similar consolidation and reporting software
• Flexibility and willingness to work outside strictly defined role and hours when required
• Willing and able to learn fast and assimilate a significant amount of information
• Able to work constructively under pressure and adapt to change
• Team player
• Motivated self-starter with the ability to cut through complex issues, proactive approach to the resolution of problems and obstacles
• Strategic
• Leading with Influence
• Collaboration (Relating)
• Customer First
• Execution
• Innovation (Perspective)
• Personal Mastery (Learning)

Manage the maintenance of the organisation's general ledger and accounting records.

Responsibilities

Financial Policies, Guidelines, and Protocols

Create a plan to deliver and review financial policies, guidelines, and protocols to ensure the company complies with regulations and good financial practice.

Financial Management and Control

Develop and/or deliver a plan for significant aspects of the financial management and/or control process.

Financial Information Systems

Support the implementation of financial systems process changes and enhancements; ensure all changes are effectively implemented.

Data Collection and Analysis

Conduct research using primary data sources, and select information needed for the analysis of key themes and trends.

Leadership and Direction

Communicate the local action plan; explain how this relates to the function's strategy and action plan and to the broader organization's mission and vision; motivate people to achieve local business goals.

Operational Compliance

Maintain and renew a deep knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct, and ensure own work adheres to required standards. Or identify, within the team, patterns of noncompliance with the organization's policies and procedures and with relevant regulatory codes and codes of conduct, taking appropriate action to report and resolve these and escalating issues as appropriate.

Performance Management

Develop and propose own performance objectives; take appropriate actions to ensure achievement of agreed objectives, using the organization's performance management systems to improve personal performance. Or manage and report on team performance; set appropriate performance objectives for direct reports or project/account team members and hold people accountable for achieving them, taking appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Organizational Capability Building

Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Budgeting

Deliver a budget for an area of the organization or conduct complex analyses on budget progress in other areas of the organization.

Information and Business Advice

Provide specialist advice on the interpretation and application of policies and procedures, resolving queries and issues and referring very complex or contentious issues to others.

Skills

Accounting, Budget Management, Business Requirements Analysis, Data Controls, Evaluating Information, Financial Accounting, Financial Acumen, Financial Analysis, Financial Auditing, Financial Modeling, Legal Practices, Management Accounting, Policies & Procedures, Report Review

Competencies

Business Insight

Communicates Effectively

Ensures Accountability

Financial Acumen

Manages Complexity

Optimizes Work Processes

Organizational Savvy

Plans and Aligns

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

03 April 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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