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 position of Specialist: Business Partner and Cost Accountant is open in ARO RBB. This role provides business partnering and cost management support to the business, offering guidance on cost trends, processing month end journals, partnering with functional heads to control spend according to plan. It drives operational understanding of the financial impact of business decisions and helps achieve financial objectives by delivering accurate, value-added financial management information and analysis. The team continuously supports decision-making for Exco and senior management within ARO RBB. This role specializes in monthend processes support and total cost FPA & Reporting.Job Description
Monthly reporting and month end packs
- Manage the month end closure process for ARO RBB Head Office business unit and reporting for WD3, WD4 and WD5. Reviewing preliminary spending trends against budget and identifying month end journals that need to be processed before closing the month’s results
- Provide input for monthly flash reporting by developing the best estimate of the month end result and load the numbers into the system.
- Monitor flash numbers against plan and the final numbers.
- Prepare cost reports on a regular as well as ad-hoc basis to enable management to make decisions.
- Provide advice and support to management on financial risks that might have an impact on profitability by discussing at regular intervals all financial matters
Financial management and Business Partnering
- Review cost drivers, services and allocation methodology for Group TP and ARO RBB recoveries.
- Review transfer pricing arrangements for group functions charging to the cluster and recharges from the cluster to other business areas. Monthly, review reports to ensure charges are accurate and address concerns directly with finance teams from other areas.
- Collaborate with business unit or function heads to determine their performance reporting needs (both financial and non-financial) and agree on deliverables annually.
- Define the format for management reports and coordinate with system developers and data providers to create these reports.
- Ensure consistent and accurate reporting ("one version of the truth") that reconciles with reports produced in other areas of the business.
- Review variance analyses prepared by the team for different business units and discuss significant cost variances with business unit heads to understand the reasons.
- Lead investigations into cost-saving initiatives and make comprehensive recommendations to business unit or function heads.
Financial Planning & Analysis
- Advise business unit decision-makers on the processes and requirements during the Medium Term Planning (MTP), Short-Term Planning (STP/budget planning), and Revised Annual Forecast (RAF) cycles. Ensure their commitment and thorough input for these activities and support them in translating strategy into financial objectives as needed.
- Manage and review the consolidated financial plans (Total cost) generated by MTP, STP, and RAF, prepared by the team, and conduct quality checks on the consolidations before recommending approval to the Cluster CFO.
- Manage ARO RBB Head Office end-to end MTP, STP & RAF process for ARO RBB Transfer Pricing
Education and Experience Required
- Minimum B-degree (NQF level no.7) Financial Management related fields; working towards CA (SA) or CIMA qualification preferred.
- 5+ years professional financial management experience, preferably in Banking
- Broad Finance including strategic, commercial, legal, risk and operational aspects
- Understanding of the financial services sector within a professional business environment
Knowledge & Skills:
- Writing & reporting (Advanced)
- Microsoft Excel skills (Advanced)
- Knowledge and proficiency in SAP BW, Compass and Cosigno (Advanced)
- Presentation skills (Advanced)
- Understanding of corporate controls and checks (Advanced)
- Excellent organisational and communication skills (Advanced)
- Relationship management and networking (Advanced)
- Ability to think creatively (Advanced)
- Ability to react positively under pressure (Advanced)
- Good understanding of the policies and strategies (Advanced)
- Understanding of Banking operating structures (Advanced)
Competencies:
- Deciding and initiating action
- Learning and researching
- Planning, analysis and organising
- Relating and networking, Leading and supervising
Education
Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (Required)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