Head Financial Reporting Risk Governance & Controls job at Absa Group

Accountability: Reconciliation of financial accounts

•  Accountable for ensuring that the CVAP principles are adhered to across all financial accounts

•  Monitor the overall control environment of the account balances, including an understanding around the design of front to back controls.

•  Accountable for ensuring that all account substantiations have been completed in accordance with the Policy by the reconciler and reviewers.

•  Develop, document and implement Account Ownership and Reconciliation procedures, where appropriate, for accounts as set out by the Policy.

•  Accountable for ensuring that allocated account reconciler and reviewers have the appropriate knowledge to execute their responsibilities

•  Accountable for ensuring that all accounts have been reconciled / substantiated by the deadlines set for their Business Area

•  Support the reconciler and reviewer in issue resolution and reviewing whether provisions are required.

•  Accountable for ensuring that all control issues have been highlighted and communicated to the Financial Controller/Finance Director

•  Accountable for ensuring that the reconciliation process has been completed within the Group timetable.

•  Facilitate and prepare the monthly Balance sheet review meeting ensuring all arising action items are followed up and resolved.

•  Submission of the monthly Items at Risk and any emerging risks in Finance to the Risk Control Forum

•  Facilitate the appropriate classification of Balances not reconciled and Items at risk across the bank’s balance sheet while ensuring they have been fully provided for.

•  Facilitate the accurate reporting and confirmation of fixed assets.

•  Facilitate the accurate reporting and confirmation of Legal, Leave and Sundry operational provisions, and provide a secondary review of Finance accruals and reconciliations.

Accountability: Stakeholder Management

•  Ensure effective and excellent communication and working relationships with colleagues in the department and the bank in general

•  Engage senior managers and other staff in the bank to facilitate and escalate outstanding reconciliation issues.

•  Manage queries from external stakeholders that relate to account reconciliations, such as external auditors and the regulators

Accountability: Risk Management control and Compliance

•  Understand the appropriate policies & standards applicable to role.

•  Understand and manage risks and risk events (incidents) which are faced in the role thereby contributing to the adherence to the Group Risk and Control Framework.

•  Ensure that practices and controls required by policies are communicated to all relevant colleagues

•  Ensure that independent oversight, on a proactive basis takes place of the risk performance (including related control effectiveness) principal risks.

•  Facilitate the regular risk assessment of the financial reporting risk in liaison with the Financial Controller.

•  Maintaining procedures to monitor compliance with policies and any controls required by them

•  Approve changes to the Supplier master list & confirmation of invoices.

•  Facilitate elements of snap checks to check proper reconciliation across the business.

Accountability: Team Leadership/Management

•  Provide leadership, line management & coaching to both the finance team and wider areas of the bank

•  Support the Financial reporting teams when the need arises.

•  Train and support to other areas of the bank to ensure they have sufficient knowledge regarding account ownership and reconciliation

•  Proactive engage members of the bank’s senior leadership team committed to achieving success and providing support for colleagues.