Specialist: Change Finance

6 months ago

Johannesburg, South Africa Absa Bank Limited Full time

Bring your possibility to life Define your career with us
- 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

To provide management and reporting of portfolio finances, perform analysis and interpretation of

this reporting; partnering with and providing Project Managers, and Portfolio managers with

meaningful insights to enable decision making from a financial perspective.

The FM COO PMO Change Finance function for the Risk portfolio covers the reporting of all financial and management information,

RAFs, Book of Work Build and Budget management for the Finance Management and Risk projects.

It involves the analysis and interpretation of this reporting and providing Project Managers, and

Portfolio managers with meaningful insights to enable decision making from a financial perspective.
- The role will be focused on providing financial partnering to the Risk change portfolios and supporting the financial forecasting and financial management processes.
- Key deliverables include performing financial analysis, planning, reporting and reconciliations in an accurate, complete, and timely manner; and continuously seeking to improve operations by scaling automated financial processes, embedding process efficiencies, and executing deep dive and trend analyses to craft financial solutions aligned to all appropriate controls, project and business objectives.

**Job Description**:
Financial Management Accountabilities

1. Budget, Planning and Cost Management
- Develop and sustain knowledge and experience on the end-to-end processes, including relevant systems within scope of work.
- Identify and innovate operating practices to optimize the function. Embrace digital solutions.
- Drive continuous process efficiency, financial rigor and controls.
- Adopt what‘s ‘Best for Absa’ approach in finance practices.
- Build and manage portfolio finance budget in line with appetite and business requirements, in collaboration with PM’s, Risk Exco, CHANGE FINANCE MANAGEMENT (Change Finance Management (CFM) guidelines and Group/EE directives
- Prepare TP view of project CTA (cost to achieve) during BOW and budget build
- Establish clear cost visibility related to FM COO PMO Risk Portfolio SI projects. Actively track cost impact due to project execution changes.
- Management of function costs (BAU and SI) within cost appetite and budgets; identification of opportunities and risks.
- Forecast process refinement and embed controls to execute on forecast process effectively.
- Prepare and review monthly project forecasts, align and finalise with project teams and change leads
- Prepare Revised annual forecasts (RAF) prepared upon request of Change Finance Management (Change Finance Management (CFM), per yearly cycles in a concise, detailed manner with the use of projected spend and budget fluctuations.
- Oversight of purchase order closure for Risk projects with CRC Finance and project teams.
- Drive alignment and realise efficiencies across processes for FM COO PMO risk portfolio
- Maintain stewardship and excellence which drives performance and sustainable growth through preservation of financial integrity.

2. Capitalisation and Balance Sheet Management
- Perform monthly review and attestation of capitalisation across Risk SI BOW, with the exclusion of project expenses not contributing to AUC per recognition criteria in IAS 38 and IFRS9.
- Prepare amortisation schedules submissions on PlanEx.
- Determine useful life and align with TAG (Technical Accounting Group) on new assets.
- Confirm zero value-based assets scrapping.
- BAU and SI Balance Sheet and Amortisation review process embedment.
- Maintain a monthly balance sheet, amortisation and scrapped asset view for reporting purposes and inclusion in FM COO PMO Finance reporting.

3. Project Business Case Management
- Manage communication of end-to-end timelines for BC submission and governance forum review for full book of work.
- Build strong relationships with key stakeholders to ensure BC reviews are seamless and sufficient information provided to support decision-making.
- Support PM’s and Business Owners with BC completion in line with FM/Risk standards.
- Review and challenge business cases submissions from PM’s for Risk projects.
- Submit approved business cases on PlanEx and manage funds release with Change Finance Management (Change Finance Management (CFM) and project stakeholders

4. Benefits (Financial and Non-Financial):

- SI and BAU benefits realisation process embedment (Benefit reviews, deep dives, reporting transparency)
- Provide support on partnership with Functions Tech to reduce Tech Spend as and when required.
- Interlock benefits with Business and ensure benefits owners are assigned and aligned.
- Provid

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