Controller Product

5 days ago

Sandton, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- 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

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 Description

The overall purpose of the job is the day to day ownership of various reconciliation tasks within the PCT Recon Solutionists Team which entails the following:

- Preparation of daily control reconciliations, ensuring completeness and accuracy
- Daily investigation of reconciliation breaks
- Daily resolution of reconciliation breaks in consultation with Product Controllers
- Root cause identification, analysis and sustainable remediation root causes
- Maintaining a log and tracker of all break root causes, commentary and the action plans to fix these sustainably
- Escalate any major differences or out of balance or any other discrepancies immediately to the line manager
- Distribution of MI and trend analysis and escalation of issues to senior management
- Active involvement in the automation of reconciliations and operating lean and efficient processes
- Raising ORM events, where applicable

Job Description

Key accountabilities

Accountability: Execution of Reconciliations (60%)
- Develop an thorough understanding of system flows and postings to the allocated accounts;
- Prepare the reconciliations as per the process and standards required in the AO&R policy;
- Perform a detailed analysis of transactions posted;
- Identify, document reconciling items on a timely basis;
- Investigate and resolve reconciling items on a timely basis, escalate to line manager if unable to resolve;
- Active engagement with stakeholders on complete elimination of reconciliation breaks ie reduce breaks to a minimum
- Ensure appropriate evidence is attached/available to the reconciliation relating to all reconciling items as stipulated in the AO&R policy
- Ensure that deadlines set for the completion of the reconciliations are met. Provide early warning to the account reviewer and line manager of any possible failure to meet deadlines or procedure standards;
- Sign/attest the reconciliation as evidence of preparation;
- Electronic retention of all reconciliations and documentation as required on the PCG Shared drive. Ensure that the filing is done in an orderly manner to make query handling easier;
- Thoroughness, rigor and attention to detail with regard to products, processes and controls;
- The capacity to work under pressure;
- The ability to build working relationships with the Product Controllers and other infrastructure units for issue resolution;
- The ability to identify solutions to complex problems and collaborate across teams to resolve breaks;
- Field various ad hoc requests.

Accountability: Risk and Control. (20%)
- Identify and report items at risk and advise the recon reviewer and/or the product controller of any corrective action where required;
- For accounts not fully reconciled or where long outstanding items have been identified, these need to be escalated to the account reviewer and/or product controller;
- Identify long outstanding items on reconciliations and own and drive the resolution of these;
- The Line Controller should be made aware of all long outstanding items that could indicate an ‘Item at risk’;
- Identify fraudulent transactions and escalate to management to ensure all laid down procedures and policies are adhered to at all times. Minimize risk and to prevent fraud;
- Identify the root cause of reconciling items and consider any risks associated with it

Accountability: Business Management. (5%)
- Define business requirements for improvements to systems, processes and reports;
- Drive the implementation of improvements identified in root cause analysis;
- Keep abreast of developments and/or changes to the IT system architecture;
- Keep abreast of developments and/or changes to the business target operating model.

Accountability: Customer Service (10%)
- Build relations with the Product controllers in order to assist in resolving queries by meeting with them on an ad-hoc basis;
- Assist business with reconciliation and balancing problems that may arise by providing expert advice or conducting investigations into suspect or non-standard reconciliations;
- Ensure effective customer service by determining the root causes of the problems, and identifying and proposing sustainable solutions;
- Ascertain clients (internal or external) needs through probing and listening, to determine the root cause of problems and to ensure excellent service.
- Ensure

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