Foreign Exchange 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.

·       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

·       Ensure compliance with SOX controls

·       Ensure that all Vodacom and Vodafone compliance requirements are met

·       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