Head of Financial Control Cluster

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

The ARO FC is the primary interface between the Regional Financial Control Functional heads and ARO CFO. The ARO Financial Controller is responsible for business and product level knowledge in risk oversight and to act as Primary audit interface for cluster audits. Responsible for review and oversight over all deliverables that are done at a cluster level, this includes statutory financial reports, regulatory reports, audit reports etc.

This role is critical to enable alignment between the top priorities of the business, the priorities of the relevant CFO's and the priorities of Financial Control. The Financial Controller needs to have a comprehensive understanding and oversight of the key enablers, key issues and top priorities in Financial Control, across all Functions in Financial Controls and across all entities in Africa.

Influence the Group Exco decision makers by providing an in-depth knowledge of financial performance, enabling the business, to deliver on strategic objectives, tax frameworks and setting the risk appetite for each cluster.

Job Description

Accountability: Provide Strategic direction for the Cluster Financial Function

Outputs to deliver this accountability:

• Act as the liaison with external and internal audit and provide assurance to the Cluster Exco and Cluster level Risk Committees that all controls are appropriate and financial statements are fairly stated.

• Provide leadership to Regional Functional Heads in Financial Control on the following strategic matters:

• Changes in Accounting Standards.

• Changes in Regulatory Standards.
• Changes in systems, IT platforms, processes and controls.
• Business Priorities and Strategy of the business
• Priorities of the cluster CFO's

• The Shared Services Strategy for Finance in Africa

• To act as the primary interface between the Regional Financial Control Functional heads and cluster CFO.

• Key sign-off of NPA process for cluster products/ new business.
• Provide decision making support and recommendations regarding the MI presented to cluster Exco/ other cluster level Forums.
• Facilitate scenario planning to the Cluster Exco and Group Finance regarding the actions that could be taken in various economic environments.
• Provide leadership with regards to cost attribution models and transfer pricing that affects your cluster.

Accountability: Chairmanship and Forum activities

Outputs to deliver this accountability:

• Act as a member of the Cluster Operations Committee (OPSCO) or Cluster Executive Leadership Team and contribute to the strategic discussions regarding the Cluster strategy from a financial perspective and drive the implementation thereof.
• Attend the forum of the divisional CFO's and deliver the financial agenda for the organization.
• Act as a member of the sub committees of Cluster Exco's representing financial discussion in the Market Risk Committee and/or other relevant committees.
• Member of the Cluster Finance Exco.
• Member of the Regional Financial Control Management Team.

Accountability: Stakeholder Management

Outputs to deliver this accountability:

• Facilitate the relationships with senior executives and resolve disputes in a professional manner.
• Ensure collaboration between CFO's and Functional stakeholders.
• Represent Cluster Financial Control on all Cluster Exco and provide informed
• recommendations and solutions to support Cluster's strategy and performance.

Accountability: People Management

Outputs to deliver this accountability:

• Together with the Financial Control Functional Heads and HR determine the people management strategy for the Financial Control resources responsible for your cluster, with a focus on talent management, development, resourcing and retention.
• Review training needs for resources within Financial Control that are responsible for your cluster and ensure that the Finance Training Framework is appropriately updated to include new training requirements. Support the Absa Colleague Council in identifying suitable training partners for training courses specific to your cluster.
• Review the outcome of the Talent Review process and approve nominations for Financial Control. Review effectiveness of the formal Talent Management process
• Develop a solid understanding of the performance of resources in Financial Control that are responsible for your cluster, in order to contribute to their Performance Development discussions. Provide input to the consistency check meetings in Financial Control.
• Approve Employee Opinion Survey (EOS) action items developed by the Financial Control Regional Management Team and review action logs to determine effectiveness of implementation.
• Provide leadership and support to initiatives implemented by the Absa Colleague Council.

Accountability: Business and Risk Management

Outputs to deliver this accountability:

• Evaluate resources based on an assessment of resource gaps in existing roles Ensure FC Regional Management Team understands evaluation of resource gaps pertaining to resources dedicated to your cluster from each function.
• Provide insight and oversight with respect to service delivery for the business unit and ensure maximum utilisation of shared services.
• Provide insight and oversight over balanced scorecard criteria in conjunction with the Financial Control Regional Management Team.
• Act as key sponsor for your cluster's Financial Control Risk Management Control Framework.
• Review audit scopes defined by managers in the team and Absa Internal Audit or Management Assurance prior to audits commencing.
• Review audit issue/findings logs to ensure adequate attention are given to closure within the agreed timelines.
• Review and approve Detailed Risk and Control Assessments prepared for your cluster.
• Complete attestations to testify to the adequacy of controls on request.
• Oversee the development of Key Risk Scenarios. Actively work to minimise the amount of economic capital that has to be set aside for operational risk.
• Drive a culture of proactive compliance in Financial Control.

Finance Target Operating Model (TOM) (implement & sustain)

• Ensure that principles of the Finance Financial Control TOM are complied to and sustained.
• Build out / establish functions required to execute the Regulatory Reporting Enablement TOM principles across the Africa region.
• Align people, processes and controls across Africa region to comply with the TOM.
• Standardise where practical approaches and controls across ARO.

Knowledge and Skills

• Knowledge of Absa Group
• Knowledge of IFRS
• Understanding and knowledge of the Banks Act Regulations
• Knowledge of Tax Law and regulations
• Knowledge of the Best Practices of Budgeting and Forecasting
• Presentation skills
• Conflict Management skills
• Analytical skills
• Communication Skills
• Leadership and management skills

Education and Experience Required:

• Chartered Accountant;
• Minimum of 10 years experience in Chartered Accounting practices, preferably in the Banking environment;
• Minimum of 10 years experience in practiced people leader;
• Minimum of 5 years understanding of technology platforms that support financial control and experience of leading financial technology change projects to enhance performance and functionality;

Education and Experience Advantageous:

• Experience in running multi-faceted projects;
• CA(SA) / CIMA NQF Level 8

Competencies:

• Analyzing
• Deciding and initiating action
• Formulating strategies and concepts
• Leading and supervising
• Persuading and influencing
• Presenting and communicating information
• Relating and networking
• Working with people

Education

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised