Group Financial and Reporting

SUMMARY:
To manage the Financial reporting for Group (including Group entities), provide technical accounting opinions and to project manager the statutory audit.

POSITION INFO:

MAIN PURPOSE OF THE JOB
To manage the Financial reporting for Group (including Group entities), provide technical accounting opinions and to project manager the statutory audit.
REPORTING TO: Head: Group Financial Reporting

MINIMUM EDUCATION & EXPERIENCE

✓ CA (SA)
✓ 10 -7 years post articles experience in relevant banking environment in a managerial position

KEY RESULT AREAS

Managing and producing the Group Financial Statement for the bank’s entities
• Consolidated
• Insurance Group
• RDS AFS
✓ Financial Statements must be produced on a timely basis for Annual, interims and quarterly basis
✓ Ensure the accuracy of numbers to underlying sources and adequate auditable schedules support the FS
✓ Review and sign off annual financial statements to ensure accuracy, completeness and confidentiality of the statements, prior to the release thereof.
✓ Managing the aggregation, consolidation and reporting of results, to ensure it meets the needs of all key stakeholders (Exco, Board Members, Divisional Heads etc)
✓ Ensure that adequate disclosure, accounting and reporting taking into account reporting requirements detailed with

IFRS compliance
• Bank Act, Prudential authority Guidance notes and directive
• JSE Listing requirements
• Companies Act
• NCR and other
✓ Address and prepare written commentary on issues raised by the head of Group reporting
• Prepare board packs and commentary for African Bank board meetings and Group Audit Committee meetings
• Managing the financial reporting tool
• Take the lead in ensuring the external reporting aligns to current industry standard and best practice
Technical Accounting
✓ To provide technical accounting opinion that cover
• Recognition and measurement in the underlying system and financial systems
• Reporting and disclosing in the AFS
✓ Provide technical accounting opinions that cover
• New product implementation
• Requirements within finance
• Change in approach for existing products
• Enhancement opportunities that improve recognition and measurement
✓ Provide accounting opinions for matter raised by
• External audit
• Prudential Authority
• JSE and other regulators if necessary
• Audit Committee queries
✓ The lead in implementation of new standards and assistance in practical implementation
✓ Defining internal accounting policy standards
Project Management External audit Statutory and other external audit
✓ Develop and lead in delivery the year end audit with
• Project management of the audit
• Dealing audit queries during the audit
• Managing the audit engagement with Business and External audit team
✓ Managing other external audit assurance review as they occur throughout the year
✓ Preparing the going concern assessment
✓ Defining, setting up and monitoring the group internal financial materiality
✓ Undertaking valuation of group entities when required
✓ Conducting Financial review of other entities within the financial service industry
✓ Identifying opportunities to improve the control environment
Treating Customers Fairly and Compliance
✓ Create and maintain productive relationships with internal and external clients by providing advice and assistance
✓ Create understanding of the ‘real’ versus ‘perceived’ need through experience and expertise while complying with company policies, legislation and regulations
✓ Keep the client informed about progress through written communication, telephone communications, and/or face-to-face meetings
✓ Build a positive image by exceeding client expectations at all times
✓ Treat internal and external customers fairly at all times
Management of Resources
✓ Manage and develop subordinate(s): Performance management in terms of contracting, reviews and poor performers, Training and development, Employee relations
✓ Manage people efficiencies through leave management, headcount budget, fixed term contracts, staff movements, secondments, staff utilization
✓ Take appropriate disciplinary measures as required
✓ Facilitate induction of new staff within one month of joining the organization

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