Specialist: Management Accounting

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

To provide and interpret financial information to all stakeholders of the business for informed decision making.

Job Description

Accountability: Financial Planning
- Update and maintain cost center structure as required. Closing of cost centres not in use. Reallocate cost to correct cost center as well as name changes.
- Create the following budgets from a zero base: Revised Annual Forecast (RAF), Medium
- Term Plan (MTP) and Short Term Plan (STP) in line with group requirements and timelines.
- Manage the planning processes to ensure that the budgeting process is planned and driven and in compliance with Absa process and support business strategies.
- Meet with relevant stakeholders to prepare the assumptions for the RAF, MTP and STP, this pertaining to forecasts and budgets. Consolidate input and provide comparative analysis.
- Discuss findings with line managers about increases, decreases or trends.
- Prepare the assumption sheet to support the forecasts and budgets for the BU (RAF's, MTP's and STP)
- Prepare comparative Income Statements between STP, RAF and MTP, forecasts based on historical information drawn from the financial system or Management Information reports.
- Approve and submit financial planning documents in line with company deadlines. Upload of MTP in Compass and STP in SAP
- Prepare presentation and waterfall for EXCO and Board. Update when required, keeping track of cost stretch and initiatives. Provide insightful comments.
- Check and challenge Interdiv TP during interlock sessions.
- Update RAF by WD13 unless required to do before - timelines to be communicated.

Accountability: Month end Accounting, Journals and Reconciliations
- Prepare expense flash information as per Group Finance/diary reminders on a monthly basis. Submit to BP team and line managers in line with agreed timelines.
- WD-4 flash to be send to line managers with calculation of estimated expenses and raise risks and opportunity. Inform line manager of any outstanding transactions and quantify accordingly.
- Submitting all over the top journals to FC by WD2 before 12:00 and updating Amortisation schedule.
- Perform checks and balances to ensure that the accounting and reporting process complies with Absa's Group financial policies and procedures e.g. Absa Group Finance timelines.
- Over see that provisions are raise or reverse in line with Group policy.
- Maintain and improve relations between finance and cost center owners by distribution cost reports and highlighting line items over budget. Give proactive recommendation to cost center managers on cost control.
- Update cost center reports and load to SharePoint by WD10. Set up quarterly feedback sessions with cost center managers to discuss actuals vs. budget and provide minutes on action items.
- Ensure that reallocation Claims handling and acquisition is done before the last day of the month. This needs to be updated daily until month end close off.
- Recharge recon to be completed by WD10
- Review and approve all accounting journals in accordance with the journal policy, checking that all journals have valid supporting documents.
- Keep copies of all journals processed, including journals processed at the central processing department and Over The Top (OTT) journals.
- Review reconciliations for all accounts on the General Ledger Control Framework (GLCF) and AO&R policy to valid supporting documents [e.g. signed journals remittance advice for payments made, calculations signed off by an authorized manager, Amortisation schedule per the Agree reconciliations to the supportive calculation or 3rd party, investigate unreconciled amounts with the Head of Finance for sign off.
- Provide insightful comments on AFS Board or Group requests.
- Communicate Convergent breaks with line manager investigate and resolve in following month. Raise IAR or misclassification as required and correct in the following month.
- Sign off on Consigno and Convergent with in time lines communicated.

Accountability: Month end Reporting
- Prepare and present monthly expense to CFO. This needs to be done by WD15. Provide insightful comments in understanding variances.
- Expense analysis to be completed by WD10. This includes Prof Fees, software, overtime, training, Printing and postages. Analyze and review expense reports together with adjustments, variance analysis and commentary on a monthly basis and as required on a quarterly basis.
- Tech Presentation to be submitted by WD10
- Prepare Business performance pack by WD8 and submit for review. Update changes and submit to BP on WD8
- Submit FTE and rand value to HR by 25th of the month and