Forex & Hedge Accounting Specialist

Forex and Hedge Accounting Specialist Contract duration: 6 months Location: Midrand Role Purpose The Specialist: Forex and Hedge Accounting will be a member of the team managing the foreign transactions and accounting processes in a timely and accurate manner, in accordance with defined operating procedures, policies, SOX, compliance, IFRS 9 and business partnering.The Specialist: Forex and Hedge Accounting is responsible for the accounting treatment of hedge accounting, ensuring timeous forex payments and dealing of forex receipts.The individual will enjoy problem solving and striving to improve the metric of the operational process.The incumbent will be a member of the wider FinOps teams.They will be required to have excellent communication skills and to be able to interact with people from different environments, internal as well as external stakeholdersA culture of continuous process improvement will be essential to ensure world class operational performance.Accountable for completeness and accuracy of accounting and reporting related to foreign exposure and hedge accounting in terms of IFRS 9Support the rest of all relevant stakeholders with forex related requests and queriesEstablish a close relationship with the other teams across Finance Operations, Finance Business Partners, Group Treasury, Transactional Cash Management teamInteract with the Global Process members, peers in the Shared Services and cash management process team members;Advise all relevant stakeholders on forex related transactions, IFRS 9 accounting, processes, and reporting; andIdentify opportunities to optimize forex related cash flows and strive to streamline and improve processes. Your responsibilities will include: Daily and monthly activities IFRS 9 accounting, processes, and reporting specifically month end reporting in accordance with financial calendarMonitor sub-processes related to forex payments and receiptsApplications to the South African Reserve BankPerform monthly variance analysis and reports and provide valid reasons on variances identified.Analyse reported data for key trends and anomalies, exception reporting to be investigated and resolution of exceptionsWork with other team members and key stakeholders across all business units to ensure all forex issues are resolved in a timely manner. Such as ensuring the accurate and complete accounting treatment of all forex related transactions by analysing financial transactions, identifying cost drivers and key vendors, reporting on spendEstablishing adherence to the relevant Group policiesEnsure compliance with SOX controlsWork with other departments to ensure all cross department issues are resolvedInterim and Year End ReportingResponsible for separate and consolidated statutory packs and other reporting requirements as part of the interim and year-end close process.Responsible for both the separate and consolidated interim and annual financial statements The ideal candidate for this role will have: BCom: Accounting essentialMinimum of 5+ years relevant experience with a strong background in financial reportingIFRS 9 knowledge Job Related Skill: Analytical thinkingProblem solvingInnovativeAdaptabilityStrong written and verbal communication skillsStrong interpersonal and influencing skillsBusiness leadership and transformationEffective communicationAbility to work under pressureOwnership and drive for impactAttention to detail & quality conscious Job Knowledge: Working knowledge of Accounting principles especially IFRS 9Experience in financial reporting and statutory reporting requirementsExcellent working knowledge of MS Office, especially Advanced Excel, Word and PowerPointSAP ERP and HFMSOXLeadership CompetencyAbility to engage effectively with management, business partners, auditorsManage deliverables from other departmentsAbility to train and manage resources on related activitiesManage external relationships with key suppliers