Absa Africa FC Finance & Treasury Manager Jobs in South Africa
Absa Africa FC Finance & Treasury Manager Jobs in South Africa
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.
Provide complex advice and support in the positioning of finance operating models and frameworks in a broadly defined group functional strategy; enabling operating model, strategy and value chain formulation and alignment.
Financial Planning - Strategy participation: Outputs to deliver this accountability: Contribute to the development of the strategy for the cluster by providing a view on the profitability of business units through analysis and performance forecasts. Ensure the provision of advice on the financial, tax planning and financial risk management aspects.
Review and approve the consolidated financial plans for the Business Unit (RAF, MTP and STP) before presenting to the Business Unit Exco and Head for final approval.
Advise the Business Unit Exco on the business performance of all business units in the Cluster against the strategic objectives and financials.
Facilitate the discussions on the way forward. Participate in the reviews of new business opportunities (joint ventures, acquisition 2 potential, new products or services) by conducting analysis on the financial soundness of the opportunity. This could include due diligence on existing practices in the other organisation or checking forecasts of potential earnings. Approve or decline.
Continuously consider the interplay between the SBU and the larger Group, the competitive environment and the financial market to identify new opportunities for cost reduction or revenue enhancement and advise the Exco of the area on which opportunities to pursue.
Support the business unit seniors to understand their financial and management accounts, with a particular focus on how expenditure is allocated, the impact of transfer pricing on their profit and loss accounts and how to conduct financial planning and forecasting.
Coordinate the transfer pricing process and negotiation and sign off the transfer pricing charges with the Business Unit's different internal service providers. Formulate creative solutions to enhance cost effectiveness and operating efficiency of the Business Unit.
Influence business unit seniors to buy in to the proposed enhancements, ensure that actions are documented and assigned to clear owners and monitor the financial effects of implementation.
Performance measurement and reporting: Direct and oversee the preparation of financial reports, special data analysis, and adhoc information reports by managing a team of financial and management accountants and analysts and communicating the standards for activities and outputs.
Sign off the financial quarter-end, half year-end and year-end Financial and Tax packs including results published to the Financial Markets and External Analysts. Together with the Business Unit Head, participate in bi-annual discussion forums with Financial Analysts on the published results and performance of the Business Unit.
Analyse financial results on a monthly basis and summarise it so as to enable business unit management to take timely appropriate actions and to ensure a rational utilisation of assets. Manage the optimisation of Economic Capital for the Business Unit through analysis of economic capital and profit, reporting on it and providing advice and proposals to the Business Unit Exco on optimisation initiatives.
Present and report accurate and timely historical financial information of the cluster to Group Finance on or before Group Finance deadlines. Financial reports have to meet generally accepted accounting practice and Absa Group financial reporting standards and data definitions.
Coordinate all financial reporting requirements for Absa Group Limited report requirements and participate in performance review discussions with Absa Group Limited seniors, product owners and Absa Group Limited GRCB Finance.
Oversee the review of financial and management accounting reporting practices in place in the Business Unit to ensure that they meet the required standards.
Implement corrective or improvement actions when required. Arrange for the preparation of budgets and variance reports by department and ensure timely distribution to cost centre owners. Budgets include financial plans, headcount, IT plans, project/programme expenditure.
Highlight variances from the business plan - under spend and overspend and work with business unit seniors to develop corrective actions
Financial systems, analysis tools and models: Based on the standards determined by Group Finance, arrange for the evaluation and update of the financial systems in place in the business units or cluster (systems include budget tools, tax planning tools, financial reporting systems, asset registers etc.).
Make recommendations to Group Finance on systems enhancements required. Participate in the development of data definitions for financial reporting to ensure that Group Standards are understood and maintained within the business unit, and that business unit requirements are incorporated into Group Standards (example of definitions for Headcount may include certain types of 3 contractors and others not).
Where standard systems and tools do not meet reporting/analysis/forecasting requirements of the business, investigate alternative solutions and make comprehensive recommendations to the Business Unit Exco and Group Finance to source and implement alternatives.
Oversee the programme management of the implementation. Based on the criteria and frameworks developed by Group Finance, establish and maintain a system to evaluate all strategic initiatives/major projects prior to launch together with the cluster Exco, prioritise projects and project funding.
For major projects, support the project sponsors to develop the business case, in particular the financial components. Provide tools and support business unit seniors in the process of scenario planning including economic forecasting and modelling. Oversee and prioritise the activities and focus areas of the MI team.
Compliance: Ensure compliance with governance and budgetary reporting requirements by always keeping abreast with new governance and policy developments and ensuring ridged implementation in the business unit's finance area. Develop and implement finance, accounting, billing, and auditing procedures by ensuring that records systems are maintained in accordance with generally accepted auditing standards.
Establish and maintain appropriate internal control safeguards in line with Absa Group requirements. Comply and adhere to tax regulations and regulatory compliance to properly reflect the financial position of the business unit.
Ensure the production of timely, reliable and complete financial information to meet the various needs of the senior management, regulatory authorities, and government agencies. Act as subject matter expert by frequently communicating financial policies, procedures, standards and guidelines in the cluster and BU finance teams and the broader business unit.
Participate in the development of the business units BCM (Business Continuity Management) plan by reviewing recovery arrangements from a cost perspective and ensuring the critical financial processes are adequately covered and tested.
Interact with Absa Internal Audit, Management Assurance and External Auditors during the setting of audit or review scope, furnishing information required and reviewing findings. Advise the business unit's Exco on appropriate corrective actions. Coordinate the resolution of all internal and external audit findings related to year end financial audits
Financial Risk Management: Counsel senior management on risk and control matters as well as potential impact on profitability by preparing presentations on risk management. Work with the operational risk team to develop Key Risk Scenarios and Detailed Risk and Control Assessments (DRACA's) with a particular emphasis on the capital reserves required to cover potential failures.
Ensure that control issues are escalated to process owners to keep capital requirements to a minimum. Evaluate the risks identified in strategic initiatives or projects and make recommendations to the project sponsors on whether the risks are worth the return.
Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required).
How to Apply
For more information and job application details, see; Absa Africa FC Finance & Treasury Manager Jobs in South Africa
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