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
This role involves the implementation of processes that ensure the integrity of the Balance Sheet, identify/evaluate and report risk items in the Balance Sheet to enable management to make decisions and take actions where necessary.
Assume responsibility for execution, change and embedment of risk assessment, testing and monitoring processes. It requires analysing key risk information, identifying financial reporting risk, and providing information to support the assessment of the control environment as well as escalation, via the appropriate governance forums, of significant findings to finance management and the business. Monitors Finance business remediation.
Job Description
Key Accountabilities
Coordination of External Financial Reporting Key Risk (FRKR) Governance and ownership of the Balance Sheet Attestation Tool (i.e. Consigno) across the Group (70%)
- Ensure the operation of a robust FRKR Governance process, including the review and consolidation of information and the production of management information required for FC attestation, AFRC and other forums (e.g. GLRSs) across all clusters, countries and entities in Africa;
- Full understanding of the allocated business or cluster Balance sheet through performing monthly analytical review and variance analysis and through discussions with business. Provide output of analysis to stakeholders;
- Support Business Unit owner for Consigno and other Financial Reporting attestation processes. This includes monitoring of system performance, and co-ordination of remedial actions for system failures and other issues;
- Provide appropriate management information to process owners for consideration before communication to Finance Management on the assessment of FRKR, ensuring accurate and validity of information and high quality and appropriate commentary;
- Adhoc projects that require timely and sustainable resolution;
- Produce management information packs and presentations to support the risk assessment of FRKR to relevant Risk Committees;
- Produce and communicate appropriate Key Risk Indicators (KRIs) to monitor the level of financial reporting risk and effectiveness of controls, to ensure that the Key Controls are appropriately implemented and understood by stakeholders;
- Monitoring and tracking remediation plans resulting from the above;
- Ensure alignment of process with organizational strategy; take accountability for relevant processes within area of responsibility and ensure delivery and maintenance of standardized processes and controls
- KPI's, and performance management thereof
- Constantly review and improve processes (automation included) to drive and implement a sustainable and effective process in support of quality and accuracy
- Drive sustainable cost and processing efficiencies through continuous innovation, industry benchmarking and alignment to best practices
- Recommend areas for improvement in order to reduce cycle times, improve productivity, create capacity and improve process reliability and customer satisfaction;
- Management of relevant executors of processes within ambit of control including coordination and management of capability and performance
- Assist in the implementation of new and/or enhanced processes;
- Identify activity-specific risks and work with Process Owner / Process Architect to mitigate risks;
- Maintain awareness of own activities and the impact thereof on related / inter-dependent activities;
- Actively supports the operational effectiveness of the Consigno system.
- Develop an appropriate knowledge of the financial reporting systems and processes that operate across businesses within Absa
- Develop a working understanding of Absa Financial Reporting policies and risk management frameworks in order to assess compliance in relevant areas;
- Provide support for Financial Reporting policies and risk management frameworks;
- Input into the operational planning of assurance and conformance testing plans to support risk assessments; and
- Assist business to document action plans for risk mitigation identified during Analytical review, GLRSs, conformance testing or in the KRI process.
- Provide training on Financial Reporting policies and risk management frameworks
- Understanding and managing team dynamics to maximise performance;
- Escalate issues around allocation of resources to process architects tasks to ensure delivery of team objectives;
- Ensure continued development of resources, through couching and mentoring, to empower value added delivery of tasks.
Knowledge & Skills
- Exceptional academic track record
- Understanding of financial reporting processes and related controls (Expert)
- Ability to identify control gaps and weaknesses (Expert)
- Ability to analyse and interpret financial data (Expert)
- Ability to write concise effective reports (Expert)
- CA (SA) or B degree/similar qualification in a financial/related discipline
- CA : 1 to 4 years post qualifying / Non CA: 4 to 7 years relevant experience
- Business experience in a Banking environment gained from Finance, Product
- Persuading and influencing
- Effective communication and collaboration
- People person
- Decisive and initiating action
- Analysis skills & technical ability
- Entrepreneurial and commercial thinking
- Relating and networking
- Adapting and responding to change
- Creating and innovating
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
