Forex & Hedge Accounting Specialist

Forex and Hedge Accounting Specialist Contract duration: 6 months Location: Midrand Role Purpose The Specialist: Forex and Hedge Accounting will be a member of the team managing the foreign transactions and accounting processes in a timely and accurate manner, in accordance with defined operating procedures, policies, SOX, compliance, IFRS 9 and business partnering. The Specialist: Forex and Hedge Accounting is responsible for the accounting treatment of hedge accounting, ensuring timeous forex payments and dealing of forex receipts. The individual will enjoy problem solving and striving to improve the metric of the operational process. The incumbent will be a member of the wider FinOps teams. They will be required to have excellent communication skills and to be able to interact with people from different environments, internal as well as external stakeholders. A culture of continuous process improvement will be essential to ensure world class operational performance. Accountable for completeness and accuracy of accounting and reporting related to foreign exposure and hedge accounting in terms of IFRS 9. Support the rest of all relevant stakeholders with forex related requests and queries. Establish a close relationship with the other teams across Finance Operations, Finance Business Partners, Group Treasury, Transactional Cash Management team. Interact with the Global Process members, peers in the Shared Services and cash management process team members. Advise all relevant stakeholders on forex related transactions, IFRS 9 accounting, processes, and reporting. Identify opportunities to optimize forex related cash flows and strive to streamline and improve processes. Your responsibilities will include: Daily and monthly activities IFRS 9 accounting, processes, and reporting specifically month end reporting in accordance with financial calendar. Monitor sub-processes related to forex payments and receipts. Applications to the South African Reserve Bank. Perform monthly variance analysis and reports and provide valid reasons on variances identified. Analyse reported data for key trends and anomalies, exception reporting to be investigated and resolution of exceptions. Work with other team members and key stakeholders across all business units to ensure all forex issues are resolved in a timely manner. Ensure the accurate and complete accounting treatment of all forex related transactions by analysing financial transactions, identifying cost drivers and key vendors, reporting on spend. Establishing adherence to the relevant Group policies. Ensure compliance with SOX controls. Work with other departments to ensure all cross department issues are resolved. Interim and Year End Reporting. Responsible for separate and consolidated statutory packs and other reporting requirements as part of the interim and year-end close process. Responsible for both the separate and consolidated interim and annual financial statements. The ideal candidate for this role will have: BCom: Accounting essential. Minimum of 5+ years relevant experience with a strong background in financial reporting. IFRS 9 knowledge. Job Related Skill Analytical thinking Problem solving Innovative Adaptability Strong written and verbal communication skills Strong interpersonal and influencing skills Business leadership and transformation Effective communication Ability to work under pressure Ownership and drive for impact Attention to detail & quality conscious Job Knowledge Working knowledge of Accounting principles especially IFRS 9. Experience in financial reporting and statutory reporting requirements. Excellent working knowledge of MS Office, especially Advanced Excel, Word and PowerPoint. SAP ERP and HFM. SOX. Leadership Competency. Ability to engage effectively with management, business partners, auditors. Manage deliverables from other departments. Ability to train and manage resources on related activities. Manage external relationships with key suppliers. #J-18808-Ljbffr