Forex and Hedge Accounting Specialist

7 days ago

Midrand, Gauteng, South Africa Quest Staffing Solutions Full time

We are seeking a
Forex and Hedge Accounting
Specialist i
n Midrand, Gauteng- 6 months contract.

Role Purpose

The
Specialist: Forex and Hedge Accounting
will form part of the team responsible for managing foreign transactions and accounting processes in accordance with operating procedures, policies, SOX requirements, compliance standards, and
IFRS 9
. This role ensures accurate hedge accounting treatment, timely forex payments, and effective handling of forex receipts.

The ideal candidate will thrive in problem-solving, process improvement, and maintaining strong working relationships with internal and external stakeholders, including Business Units, Vendors, Subsidiaries, and Markets. A culture of continuous improvement is essential to achieving world-class operational performance.

Key Accountabilities

  • Ensure complete and accurate accounting and reporting of foreign exposure and hedge accounting in line with
    IFRS 9
    .
  • Provide support for forex-related requests and queries.
  • Build collaborative relationships across Finance Operations, Finance Business Partners, Group Treasury, and the Transactional Cash Management team.
  • Engage with Global Process members, Shared Services teams, and cash management stakeholders.
  • Advise stakeholders on forex transactions, IFRS 9 processes, and related reporting.
  • Identify opportunities to optimize forex-related cash flows and streamline processes.

Your Responsibilities Will Include

Daily and Monthly Activities

  • Execute IFRS 9 accounting, processes, and reporting, including month-end deliverables aligned to the financial calendar.
  • Monitor forex payment and receipt sub-processes.
  • Manage applications to the South African Reserve Bank.
  • Perform monthly variance analyses, investigate anomalies, and provide explanations.
  • Analyse reported data to identify trends and investigate exceptions.
  • Collaborate with stakeholders to resolve forex-related issues promptly, ensuring accurate accounting treatment and reporting of forex transactions.
  • Identify cost drivers, key vendors, and trends in forex-related spend.

Compliance & Control

  • Ensure adherence to relevant Group policies.
  • Maintain SOX compliance and ensure all compliance requirements are met.
  • Collaborate with cross-functional teams to resolve compliance issues.

Interim and Year-End Reporting

  • Prepare separate and consolidated statutory packs.
  • Support interim and year-end close processes.
  • Deliver accurate and timely interim and annual financial statements (separate and consolidated).

Minimum Qualifications

  • BCom in Accounting
    (Essential)

Experience

  • 5+ years' relevant experience
    with a strong financial reporting background.
  • Strong working knowledge of
    IFRS 9
    .

Job-Related Skills

  • Analytical thinking and problem-solving
  • Innovation and adaptability
  • Strong verbal and written communication
  • Interpersonal and influencing skills
  • Ability to work under pressure, with ownership and a drive for impact
  • High attention to detail and quality focus
  • Excellent planning and organising
  • Discipline and deadline-driven

Job Knowledge

  • Solid understanding of accounting principles, specifically
    IFRS 9
  • Experience in financial and statutory reporting
  • Advanced proficiency in
    MS Office
    (Excel, Word, PowerPoint)
  • Experience with
    SAP ERP
    ,
    HFM
    , and
    SOX
    compliance

Additional Information

  • Duration: 6 months
  • Salary: R400 per hour
  • Location: Midrand

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