Head Of Operations Finance At Absa

Job Summary Provides high level managerial assistance to the HOO/COO during his/her absence to help deliver the functional responsibilities and financial leadership and support to the business in an effective and efficient manner and oversee the daily operations for ABSA Stockbrokers and Portfolio Management (SPM) Operations Finance and interact with functional areas that give specialist support to SPM like FDS, FC etc.
Provide leadership as regards improvement of operational efficiency, risk mitigation and improve customer experience as regards receipt allocation and vendor invoice payment timeously. Involves reduction of risk events, revenue generation and reporting, including all mandatory periodic reporting contributing to the build of the financial general ledger. Oversee SPM cash management to contribute towards strategic business profitability and growth initiatives.
Assist the COO & CEO in providing leadership and strategic direction for organisational change and policy activities. Provide guidance from an operational finance perspective to the business and finance colleagues, around the developing and measurement of businesses strategic goals as well as providing support and leadership in creating and maintaining a positive and successful operational working environment and organisational culture that supports high performance. Responsible for aligning resources to the overall strategic objectives and interacting with product and functional owners to create one common agenda. Drive an operational and financial understanding of the financial impact of decisions made. Drive the businesses financial objectives by providing accurate value-added financial management information and analysis.

Job Description

Accountability: Supports the strategic direction, operational plans and functional areas (20%)

Keeps the COO aware of relevant and current political, social and legislative developments that may impact on organisational objectives.
Provides professional and ethical advice to the COO on matters that impact the organisational direction, corporate governance and policy.
Provides a thorough and accurate contextual analysis to assess financial and operational readiness for new initiatives.
Represents the office of the COO on operational and strategic forums.
Communicate and facilitate understand of policy and strategy
Review tactical plans that are in place and assess alignment with business delivery.
Provides accurate information and advice to internal and external customers on a timely basis as and when required.
Ensures that the operational and financial plans are aligned to policies and legislative requirements.
Advise business unit decision makers on the process and requirements on costs and liquidity during the MTP (Medium Term Planning), STP (Short-term/budget planning) and RAF (Revised Annual Forecast) cycles. Ensure that their commitment and thorough input is obtained for these activities and support them with translating strategy into financial objectives on request.
Manage and review the consolidated financial plans generated by MTP, STP and RAF prepared by the team and quality check the consolidations prior to recommending approval to the Cluster CFO.
Create change by implementing and driving automation and new systems to meet business requirements

Accountability: Financial management and Business Partnering (30%)

Working with business unit heads to define the cost center structures and roll- up/consolidation to effectively manage the businesses performance for costs and liquidity
Work with business unit heads to determine their performance reporting (financial and non-financial) needs and agree deliverables on an annual basis
Define and instruct team on the formatting of management reports and contract with system developers and data providers to develop the reports
Ensure "one version of the truth" for all reporting and that management reporting reconciles/agrees to reports produced within other areas of the business
Review the variance analyses for the different business units as prepared by the team and discuss major variances, on the cost and income sides, with business unit heads to gain and understanding of the reasons
Review quality of and provide input into the Cluster Exco pack (as compiled by the Cluster CFO) with a focus on the variances, reasons for variances and overall business performance of the cluster for costs and overall liquidity as it relates to SPM.
Review transfer pricing arrangements in place for group functions charging to SPM and recharges from SPM to other business areas. On a monthly basis review reports to ensure that the charges processed are accurate and address concerns directly with the finance teams from other areas
Lead investigations into cost saving initiatives and make comprehensive recommendations to the business unit executive
On request from project/change teams, provide input and support during the development of business case financials for new projects or initiatives
The conduit between group and SPM funding and liquidity requirements

Accountability: People Management 10%

Develop internal capability through the recruitment and development of a capable team who will ensure the necessary resources are in place to achieve business strategy and objectives.
Together with the HRBP for the business unit implement the people management strategy for the area with a focus on talent management, development, resourcing and retention
Embed formal Performance Development and informal coaching in the Team
Motivate the team and implement measures in place to recognise their direct reports
Motivate team members through coaching and mentoring them to perform
optimally around the vision and values, create a sense of urgency and excitement around the business and ensure that they strive to deliver optimally
Up skill and share knowledge with the team
Manage performance and delivery

Accountability: Complies and adheres with risk and governance (5%)

Manages the control environment to drive improved productivity, cost efficiency and business success.
Communicate all business risk implementation plans to the COO.
Assist in corrective action to remediate deteriorating risk metrics as requested.
Aligns resources to gain value and mitigate risk for the business.
Complies with governance, risk policies, procedures and compliance policies.
Implement Key Risk Scenarios. Actively work with other managers to ensure the risk in

Accountability: Financial Leadership and Support to business (30%)

Provide direction to the business management committee (Manco) based on analytical review of the Business Performance and an understanding of key business drivers.
Provide clear direction to the Manco on what the business requirements and imperatives are by translating current business performance into actionable business objectives
Participate as an invited member of the Manco of the business
Translate SPM strategy into meaningful operational targets for the business unit under management.
Ensure that the focus areas are disseminated to all levels in the business unit
Represent the business at a Product Cluster Level and negotiate and secure the budget and plans for the business unit and together with the Business Head and the COO take accountability to ensure the delivery on the promised business results.
Negotiate with the various stakeholders on the targets set and drive the overall achievement of performance objectives in the business unit through the performance management function within the required business parameters.
Drive change proactively aimed at continuous improvement in all areas of the business.
Understand the requirements and mechanics of Economic / Regulatory Capital and Risk Weighted Assets as required by Basel III for Credit and Operational Risk. Support the business with the determination of the optimal usage of capital working within the constraints laid down by the Balance Sheet Management Committee
Understand the requirements of Value Based management and help the business implement the principles and measurement capabilities
Understand and drive the matched transfer policy of the company

Accountability: Continuous business improvement (5%)

Support the resources planning requirements for the Operations and Support functions and implement the COO's requirements.
Support the business unit heads during the planning of their resource's requirements.
Assist the COO to agree targets, communicate and implement for the overall achievement of performance objectives in the COO areas.
Participate in steering committees involved in the implementation of SPM strategies to ensure end to end processing and practical implementation of operations requirements.
Proactively implement and manage projects efficiently and effectively.
Maintains a high standard of communication with all internal and external customers.
Assist in the implementation of the culture climate and/or employee surveys (EOS) and manage the findings by allocating items for action.

Required

Working/usage knowledge of JSE BDA system
Working knowledge of the banking environment
Knowledge of strategy formulation
CA SA (NQF level no 7.) or
CIMA (NQF level no 7.) or
(8) years (Technical/Managerial) relevant experience in Finance, Accounting & Operations

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (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 wo