Forex and Hedge Accounting Specilaist

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 stakeholders

· A 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 9

· Support the rest of all relevant stakeholders with forex related requests and queries

· Establish a close relationship with the other teams across Finance Operations, Finance

Business Partners, Group Treasury, Transactional Cash Management team

· Interact 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; and

· Identify 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 calendar

· Monitor sub-processes related to forex payments and receipts

· Applications to the South African Reserve Bank

· Perform 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 exceptions

· Work 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 spend

· Establishing adherence to the relevant Group policies

· Work with other departments to ensure all cross department issues are resolved

· Interim and Year End Reporting

· Responsible 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 essential

· Minimum of 5+ years' relevant experience with a strong background in financial reporting

· IFRS 9 knowledge

Job Related Skill:

· Analytical thinking

· Problem solving

· Innovative

· Adaptability

· Strong written and verbal communication skills

· Strong interpersonal and influencing skills

· Business leadership and transformation

· Effective communication

· Ability to work under pressure

· Ownership and drive for impact

· Attention to detail & quality conscious

Job Knowledge:

· Working knowledge of Accounting principles especially IFRS 9

· Experience in financial reporting and statutory reporting requirements

· Excellent working knowledge of MS Office, especially Advanced Excel, Word and PowerPoint

· SAP ERP and HFM

· SOX

· Leadership Competency

· Ability to engage effectively with management, business partners, auditors

· Manage deliverables from other departments

· Ability to train and manage resources on related activities

· Manage external relationships with key suppliers