Manager Finance RBB Finance

Job description

A new role has become available for a Manager Finance RBB Finance. The incumbent will need to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards, Understand and manage risks and risk events (incidents) relevant to the role.

Vision: To be the trusted business partner providing outstanding Finance & Commercial leadership.
Purpose: To bring financial integrity & insights to the current state of the business & its future possibilities.

Role Purpose: Overall responsibility for the financial management of the finances of the assigned business area. The objective of this is the efficient and effective management of resources to accomplish the objectives of the Retail Bank.

Accountability: Financial Management

·  Prepare and coordinate the preparation of, management reports, financial reports, special data analysis, and adhoc information reports to enable decision making.
·  Coordinate the execution of day to day, general accounting functions, debts, credits month end reports and financial statements.
·  Present monthly business Manco reports by ensuring the completeness, accuracy and relevance of the information to be presented to enable regional members to make informed decisions
·  Submit financial reports to the relevant stakeholders, Chief Financial Officer (CFO), Business unit head, Cluster Finance and the Group Finance Team on or before the agreed deadline
·  Coordinate the preparation of budgets and variance reports by departments and ensure that all cost centre managers are engaged within agreed timeframes.
·  Highlight variance from the business plan such as over-spends and provide explanatory notes for those variances.
·  Analyze financial results on a monthly basis and summarize them so as to enable the Business unit Management Team to take timely and appropriate actions
·  Prepare or oversee the preparation of monthly Group and Management reports including Balance sheet, Income statement and interdivisional schedule by extracting Balance sheet and Income statement from Analyst(financial reporting system) to enable reporting in the prescribed format.
·  Sign off and discuss the monthly short term plan (STP), medium term plan(MTP) and rolling forecast(RAF) and budgets with the relevant stakeholders to enable consolidation into the Cluster forecast and budget.
·  General Ledger accountability: Monitor the General ledger for transactions and note whether these transactions are valid, accurate and complete. Where errors are identified resolve these errors.

Accountability: Financial Modelling

·  Extract financial and all applicable information from various sources, for example, the General Ledger (GL)
·  Support the Management Team to understand their financial and management accounts, expenditure allocation, transfer pricing on their profit and loss accounts and how to conduct financial planning and forecasting
·  Suggest solutions to enhance cost effectiveness, sales revenue and operating efficiency of the business unit.
·  Ensure that all action plans that have been agreed to are documented and assigned to the relevant owners and that the financial impact as regards the implementation is monitored

Accountability: Financial Control & Compliance

·  Maintain appropriate internal control safeguards in line with the ABSA Group requirements by regularly reviewing all variance reports and other reports where applicable.
·  Interact with the ABSA Internal Audit team and provide necessary information as and when required.
·  Ensure that the cost centre managers comply and adhere to the all regulations and policies when reflecting the financial position of their departments
·  Ensure that the business unit complies with governance and budgetary reporting requirements by always keeping abreast with new governance and policy developments.
·  Review and sign off on the quarterly General Ledger Control Frame work prepared by the preparers in the prescribed format to enable the Business unit manager to attest to the correctness and completeness of the Control framework.
·  Sign off on the quarterly supplementary schedules and FD attestation to Group Finance prepared by the relevant staff in the prescribed format
·  Provide input to Group Finance and the Cluster Chief Financial Officer during the development or update of financial policies, procedures, standards and governance with a focus on improving these frameworks to make it easier for departments to comply with requirements and improved efficiency.
·  Educate department heads on financial governance requirements in one-on-one coaching sessions and through meeting with business unit Exco teams.
·  Work with the Data Stewards in the business unit to log all data quality issues identified by members of the management accounting team or line managers. Participate in investigations to resolve data inconsistency issues and the refinement of data definitions for financial information specific to the business unit.
·  Ensure that all significant variances (budget vs actual) are identified and reported to Business unit Exco and that all numbers prepared are 100% accurate.
·  Ensure that processes, control requirements and risk management frameworks that impact the management accounting area are documented and understood by all members of the team.
·  Own and agree corrective action items with Internal Audit and Management Assurance for findings related to the management accounting area in the cluster. Arrange issue assurance for closed audit findings.
·  Ensure that the team understands all compliance requirements and call for the area's Compliance Officer to conduct briefing sessions if gaps are identified.
·  Ensure that all regulatory requirements are adhered to.

Accountability: Stakeholder Management

·  Provide advice and support to cost centre managers on financial risks and control matters that may have impact profitability
·  Interact with Cluster Finance, Group Finance and Barclays and furnish relevant information as and when required
·  Communicate financial policies, procedures, standards and guidelines to the business unit management team.
·  Support projects by developing the financial component of the business cases that are created by the management Team to actively track and change benefits and costs of the project.
·  Provide strong support to the operational team by having regular meetings with them to share financial.
·  Act as a key member of the relevant Manco/RLF/leadership teams. Participate and make recommendations in all business activities
·  Support the achievement of targets contracted through managing business operations and maximizing of operating opportunities
·  Provide timely reporting to the business Executive, on request on projects pending in the regions
·  Conduct basic statistical analysis to track performance variances and determine the root causes of errors. Make recommendations for productivity or process enhancements to process owners
·  Perform all other duties as reasonably assigned.
·  Where relevant: Support branch managers/frontline with financial queries they may have and where possible visit the branch/front line to uplift
·  Forecasting Support: The national finance team during the RAF process, communicate the business RAF to the business team and highlight pressure points and assist in formulating the solutions for achieve set goals that are at risk as identified in the RAF.
·  Monitor Financial Performance: Monitor the actual income and expenses against budget (STP), on month on month, and a year to date basis. Communicate the variances to leadership team and assist formulate plans to remedy adverse variances. Track and monitor actions against plan.
·  Planning: Prepare and finalize the budget process for the region. Prepare the budget from the bottom up and consolidate the department/regional view for approval at national level. Once budget is approved communicate the budget to the cost centre owners.

Accountability: People Management (Where applicable)

·  Determine and analyse development needs for the team and ensure that identified training requirements are budgeted for and executed.
·  Establish and maintain a succession plan for the team.
·  Create effective workforce and recruitment demand plans to ensure that current and future business requirements can be met. Plans should be revised at least twice a year.
·  Motivate to and obtain approval for any additional headcount for the team.
·  Approve leave requests for team members and create leave plan to ensure adequate coverage.
·  Monitor overtime and ensure that it is kept to a minimum. Report excessive overtime to management and create plans to address the issues.
·  When required, initiate disciplinary processes for team members calling on support from Employee Relations.
·  Motivate team members and ensure that their efforts are recognized.

Desired profile

Education and Experience Required

• Commerce Degree (NQF level 6)
• Post graduate degree preferred
• CA (SA) or CIMA qualification preferred
• 3-5 year's financial management experience
• Proficiency in MS Excel
Knowledge & Skills: (Maximum of 6)

• Longer term financial planning and budgeting
• Financial Modelling
• Procedures and processes
• Financial controls and audit knowledge
• Financial and management accounting
• Influencing
• Revenue and cost management
• Accuracy and attention to detail

Competencies: (Maximum of 8 competencies)
• Deciding and initiating action
• Learning and researching
• Entrepreneurial and commercial thinking
• Relating and networking
• Adapting and responding to change
• Persuading and influencing
• Creating and innovating