Finance Business Partner

3 weeks 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 and interpret financial information to all stakeholders of the business for informed decision making. To execute on, support and educate line managers in the execution of finance related activities and monitor line adherence to Finance best practise and principles.

**Job Description**:
Accountability: Managing the Finance Environment
- Execute strategic objectives as articulated by the Chief Operating Officer (COO)/ or CFO for the Business Unit (BU) explaining key focus areas to Executives and line managers.
- Prepare and present monthly financials and variance commentary at Divisional Manco meetings and where required support the Senior Finance Business Partners with presentation to EXCO Meetings.
- Implement and monitor cost control initiatives within the different functional areas within the Business Units in order to achieve overall Business Unit cost targets.
- Track cost savings benefits for the different centres within the business unit for which the role is responsible as and when required.
- Implement programmes and financial systems and policies as may be directed by the Senior Finance Business Partner for the financial year.
- Compile and present Financials to the relevant business owners on a monthly basis including financial actuals against forecasted trends.
- Conduct research and develop financial forecasts and indicators for the business to enable effective financial decision making and early warning systems.
- Participate in business initiatives or Group and Cluster financial initiatives on behalf of the business unit where required and ensure deliverables and frameworks are effectively implemented in own area of responsibility. (e.g. financial transfers between business units, group financial projects and business unit level financial drives and programmes).

Accountability: Financial management and Business Partnering
- Allocate duties to team members where required to execute and coordinate finance activities required within the business unit to ensure adherence to sound financial management and accounting practices within Business Unit.
- Execute the monthly financial processes to ensure accuracy of inputs and results of the financial system, including FTE cost monitoring, journal processing, Balance sheet management, etc.
- Facilitate yearly financial restatements process to align the financial structure to updated company structure.
- Monitor financial trends and identify gaps, based on gaps identified, motivate requests and new ways of work to the Senior Business Partner for additional resources including people, budget and equipment
- Obtain a thorough understanding of the business unit’s strategy and explain it to team members in such a way that they understand the contribution they have to make
- Provide financial advise and guidance to line managers and business owners on new initiatives, current budget management practices and trends in expenditure in their areas of accountability.
- Explain targets and take accountability for the monitoring and achievement of own and team performance objectives in the department in terms of return on investments, financial risk, financial planning and governance. Create and present quarterly and monthly plans to ensure delivery for the year.
- Manage departmental budgets including signing off of invoices and quotes within mandate. Escalate out of budgets or items higher than approved mandate to the next level manager.
- Rigorously monitor expenditure against approved budgets for the areas of accountability and put measures in place to address variances. Continuously identify areas for improved efficiency and reduced cost.
- Conduct basic statistical analysis to track performance variances and determine the root causes of errors. Make recommendations for productivity or process enhancements to process owners
- Implement productivity improvement measures by coaching line managers on any new processes or on their areas for improvement.
- Populate balanced scorecards for the specific department on a monthly basis. Work with the team to address shortcomings during the next month. Escalate any major issues identified to the next level manager
- Participate in the measurement and reporting of internal and external Service Level Agreements on a monthly basis.
- Address any process failures specific to the department under management.

Accountability: Business Planning
- Partner with the departments and the BU line managers to complete sound annual financial plans within the agreed timeframes.
- Review the 3 year forecast for Medium Term Plans (MTP's) for the area of accountability in accorda



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