Specialist Product Finance and Recon

22 hours 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

The main role purpose will be to be provide business support on flow of financial information on the product system. Design and perform controls. Resolve differences, manage issues and changes related to controls. Main area of controls will be support from AVAF Finance (ABSA Vehicle and Asset Finance) to IT, Payments, Collections and Enablement areas.

**Job Description**:
Product Finance Control:
Perform and/or review reconciliations, including trend analysis to confirm completeness and accuracy of the product financial data. Manage the correction of reconciling items, including raising journals to correct reconciling issues identified by the reconciler. Identify and report items at risk and advise the reviewer of any corrective action where required. Monitor the differences identified, escalate any major differences or out of balance or any other discrepancies immediately to the Product Finance Control Manager. Log and monitor the issues on the relevant systems on agreed timelines and follow-up long outstanding issues. Maintain appropriate internal controls in line with Absa group policy. Review the reconciliations on regular basis for relevance and possible improvements.

Product GL accounting data expert

Serve as expert on the flow of financial data in product system and to/from interfaces. Perform mass corrections where required after system problems that caused financial data to be processed incorrectly. Provide business analyst and process custodians with support on data flow and accounting on possible changes. Perform role as custodian of the accounting, tax and VAT rules on the product system. Liaise with Group Tax and Technical Accounting on regular basis to stay on top of regulatory changes that might impact product system. Evaluate all changes with regards to impact on the Product Finances and Finance functionality. Keep updated records of product accounts rules and postings. Develop and sustain knowledge and experience on the end-to-end processes, including product systems and product ledger, to support business units with enhanced service delivery. Provide standard product & accounting data to AVAF business areas like Payments, Collections, IT and Enablement. Attend relevant business forums where the product finance information is concerned and provide product finance input to changes where applicable.

Stakeholder Management:
Provide testing and system support to IT where appropriate. Provide monthly accounting, VAT & tax data to business and finance teams. Provide business and finance teams with explanations on movement of product data. Manage the correction of data by IT and/or business enablement. Work closely with the Payments, Collections and Enablement teams to understand and improve the flow of information. Interact with the Internal and External Audit team and provide the internal and external auditors with data and explanations of data movements on request.

Skills and Experience:

- Qualification: Degree (NQF 7)
- Minimum 4 years’ experience in a Banking, Control or Financial role
- Core skills required: Problem solving and systematic working
- Excel expert
- SAP experience an advantage

Education

Bachelor's Degrees and Advanced Diplomas: Financial Sciences (required)
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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