Product Controller

Time left to apply: End Date: November 10, 2024 (6 days left to apply)
Job requisition id: R-15969011
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 role will be focused on Product Control functions and support for various finance functions across EB/RB/PS and collaborate with the broader finance community.
Key deliverables include: Review of journal process and provide support as and when required.Finance investigation and projects, ensure that the line manager is appraised of key financial issues that need to be raised with executive leadership to enable integrity and timely management of the function.Continuously seeking ways to improve operations by scaling automated financial processes, performing deep dives on several topics and trend analyses.Ensure appropriate, quality and timely delivery of accurate financial and non-financial management information to support business objectives and expectations, including insightful comments and packaging the information in a relevant and appropriate manner.Job Description Product Control Visibility Ensure representation in relevant Finance governance forums in support of the CFOs.Provide commercial support and insights as and when required.Identify opportunities to reduce costs and support overall finance strategy.Ensure quality reporting for monthly Product Control meetings.Provide high-level overview of monthly reconciliations across Product Control, FSSA, Tech Enablement, Accounting Control and other CFO outsourced reconciliations.Financial Control – Partnership Annual review of end-to-end documentation of reconciliations, Product Systems involved, system owners and exception handling.Obtain an understanding of the outsourced reconciliations, nature of transactions, items under investigation and identify control gaps on the end-to-end process: Product system/General Ledger/Business unit impact.Understand the impact of General Ledger breaks on Balance sheet (statement of financial position) and Income statement (profit or loss).Maintain stakeholder map for ease of investigation: Product system owners, General Ledger and Technical teams per business/CFO.Be alert of emerging issues on GL and communicate accordingly.Serve as a subject matter expert on financial data integrity, accounting processes, reconciliations, finance investigations.Process Optimization Continuously seek ways to improve operations by scaling automated financial processes.Perform deep dives on several topics, understand the end to GL flows including source of system entries, how they clear, cut off for GL processing, system owners, escalation processes and contra entries per GL account.Identify processes to be streamlined.Support Product Control Journal process and reconciliations Develop and implement control procedures as deficiencies or exceptions are identified which support the production of error-free journal processes.Align to processes around month-end, year-end and planning cycles across Product Control and finance community based on the requirements from Group.Interact with the stakeholders to agree on minimum quality standards, as well as an agreed method of communicating and resolving any identified quality deficiencies in the journal processing & reconciliation space.Know BU financial ambitions and balance sheet aspirations of Product Control.Audit & Compliance Support external and internal audit as required.Act in line with the relevant governance and control frameworks.Support finance projects and ensure compliance with relevant governance processes for New & Amended Product Approvals (NAPA) and other Internal Governance processes. Collaborate with reconcilers across finance and standardize NAPA documents for Process/GL flows and assist in mapping out those processes.Maintain relationships with the broader finance community to enhance the overall process with regards to finance projects and impact on financial reporting.Assist in regular tracking of finance conditions raised.Professionalism and proper planning before weekly NAPA sessions.Closure packs to be submitted timely, manage Project Owners and be gatekeepers for the CFOs final approval.Tracking all stages of development.Peer responsibility: Coach, inspire, engage, mentor and develop finance junior staff members under supervision.Network with finance colleagues across EB/RB/PS and create awareness of issues and encourage collaboration.Focus on Finance skills evolution and remaining relevant.Minimum Requirements: Minimum B-degree (NQF level no.7). Desired Post Graduate qualification preferred.3+ years professional financial processes experience.Knowledge and skills:Experience in executing finance processes.Experience in commercial innovation environments.Broad Finance including control environment, commercial support, compliance and operational aspects.Understanding of the financial services sector within a professional business environment.Knowledge of building collaborative work environments.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. About UsTruly AfricanWe are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.
Absa Group Limited is listed on the JSE and is one of Africa's largest diversified financial services groups with a presence in 12 countries across the continent and around 41,000 employees.
We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda, and Zambia. We also have offices in China, Namibia, Nigeria, the United Kingdom and the United States of America, a Technology Hub in Prague, and insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.

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