Financial Reporting and Controls Manager at Absa Bank Limited

Job Summary

• To provide specialist advise and support in the maintenance and analysis of financial data in order to provide accurate reports and information to relevant business stakeholders, through the execution of predefined objectives as per agreed SOPs.
• Responsible for Implementation of the Financial Reporting Risk Framework which sets out the activities, tools, techniques, and organizational arrangements to ensure that all material risks facing the Bank are identified and understood, and that appropriate responses are in place to protect Absa Kenya Limited and prevent detriment to its customers / clients, colleagues or community, enabling the Bank to meet its goals, and enhancing our ability to respond to new opportunities.

Job Purpose

• Responsible for ensuring the business and its operations are conducted in accordance with both Local and Group Accounting and Financial Control Policy.
• Responsible for the Monthly Close process for Business Banking SBU’s – Larger Business, Medium Business & Agriculture. Specifically the jobholder has responsibility for:-
• Implementing the Financial Controls and Processes to ensure the Bank is complying with all Group accounting and financial control policies and to account reconciliation.
• Monitoring the performance of controls by reviewing them with the control owner or using the online tool.   Reports on exceptions, issues, and items at risk.
• Ensuring that all processes and controls have been carried out to ensure the Financial Director is able to sign the formal FD attestation.  Prepares the list of Control Issues and Numeric Tables which form a major part of the attestation.
• Implementing any new policies ensuring existing controls are operating in accordance with the documented/mapped process.  Represents the Head, Financial Control at meetings when required and will ensure any new policies or changes in policies are communicated within the Finance Team.
• Responsible for the preparation and submission of statutory accounts
• Processing Financial Management information through SAP and TM1 accurately and timely
• Ensuring that the reporting requirements to Management Group and Statutory reports are complete, accurate and timely.
• To be a trusted technical expert with respect to Central Bank regulations, SARB, IFRS/IAS, and other Group Policies within Finance, ensuring that accounting follows IFRS and regulatory accounting guidelines.
• Providing expertise for all aspects of financial controls and reporting, and deliver improved Risk Management Control and Compliance
• To ensure that appropriate statutory audits and examinations are conducted in a professional and timely manner.
• Manage the balance sheets and the profit and loss accounts of the subsidiary companies and provide avenues of improvement.
• Assist the financial controller in the cost control management across the bank, supporting the Business Partners with review and challenge of both BAU and Project costs.
• Provide training to other team members.
• Responsible for the Eliminations process including reviewing all mismatches and will chase the parties involved where material mismatches occur so that these can be understood and be explained.  Provides coaching to the parties involved to ensure mismatches which are not due to timing don’t re-occur.
• Responsible for running the monthly Journal QA and Account Reconciliation QA processes, including selecting the sample, conducting the sample, and collating the results for sign off by the Head, Financial Control.

Key Accountability:

Financial Reporting-Time split%:30%

• Implementing the controls and processes to ensure the Bank follows all Group Accounting and financial control policies and to account reconciliation. This includes ensuring that reconcilers and reviewers are in place and that, they are trained in their responsibilities and monitoring the reconciliation and review process, chasing for adherence to policy as appropriate.
• Review and reconcile Finance Department’s Internal Accounts Ensure internal accounts are operated with proper authority from Finance.
• Minimizing operational risks within the business by ensuring that GL control measures are in place in line with the GL Control Framework ensuring Finance maintains Green Audits.
• Proactively educate Finance Team on operational rigor requirements by offering training & coaching.
• Work with key risk, control, and compliance areas i.e., Executive Risk Committee and, and other Risk Management Committees to ensure the early identification and resolution of control issues.
• Assist all controls teams to develop improvement actions, and track progress on remediation.
• Conduct quarterly visits to all Head Office Depts. and Sampled Branches and carrying out ‘health checks’ after each visit agree action plan with business area, compile accurate, comprehensive, and timely reports to the Head, Financial Control/Balance Sheet Committee.
• Set timetable and coordinate auditor’s requests in respect of both internal and external audits. Responsible for managing the closure of all audit findings, ensure action plans are in place and report to BAGL as necessary.
• Work closely with the GL controllers and reconciliation teams to ensure adequate monitoring of usage of GL s for accurate financial reporting.
• Responsible for the Finance control framework
• Monitoring the performance of controls by reviewing them with the control owners or using the online tool.   Reports on exceptions, issues, and items at risk - where early resolution is not possible will ensure an action plan is in place with clear line of sight to resolution.
• Responsible for running the monthly Balance Sheet Review Process and Account Reconciliation processes, including selecting the sample, conducting the sample and collating the results for Head Office and having these signed off by the Head, Financial Control.
• Responsible for the Eliminations process including reviewing all mismatches and will chase the parties involved where material mismatches occur so that these can be understood and be explained.  Provides coaching to the parties involved to ensure mismatches which are not due to timing don’t re-occur. Will liaise with the FRSC to resolve operational issues which result in elimination mismatches occurring.
• Implement any new policies ensuring existing controls are operating in accordance with the documented / mapped process.  Represents the Head, Financial Control at meetings when required and will ensure any new policies or changes in policies are communicated within the Finance Team.
• Ensuring that all processes and controls have been carried out to ensure the SBU Financial Controller is able to sign the formal FD attestation.  Prepares the list of Control Issues and Numeric Tables which form a major part of the attestation.  Overall ensure appropriate confidence for the FD/MD to attest to the financial results.
• Any issues with controls and processes which cannot be resolved by the jobholder should be escalated to the Financial Controller - Projects and Controls to advise on or resolve.

Compliance – CBK Reporting- Time split%:30%, Decision Control-Time split%:30%

• 1. Prepare and submit to Central Bank, the following returns: - 
  • Liquidity Statement (PR5_2) as at 10th, 20th, and End month
  • Banking Statistics (BSM) reports as at 10th, 20th, and End month
  • Deposit Protection Fund Board (DPF)
  • Profit and Loss (PR21)
  • Capital to Risk Weighted Assets (PR3)
  • Quarterly balance sheet (PR5_1)
  • Monthly Government accounts return
  • Quarterly Agricultural return
• To facilitate effective and constructive sharing of knowledge and experience of compliance issues across the cluster and to effectively engage with other clusters and AGL
• Keep local compliance stakeholders updated on regulatory pronouncements, and the impact to their business.
• Keep local compliance stakeholders updated on regulatory pronouncements, and the impact to their business.
• Be the understudy for the Financial Reporting and Controls Manager
• Be up to date on all regulatory changes and can articulate the impact to the business. Well informed on current industry thinking.
• Responsibility for maintaining proper accounting records
• Responsible for the chart of accounts and correct GL mapping in TM1 and SAP
• Ensure the timely and effective preparation and maintenance of the Fixed assets register to enable accurate calculation, movement, and monitoring of depreciation
• Managing the ETA (intergroup recharge) process, including gathering information to calculate the ETA’s and the preparation of PC Uploads for input into SAP
• Responsible for ensuring accurate period end close and ensuring all month – end reconciliations are done. In Consultation with Head of Financial Control pass and document all agreed adjustments into TM1
• Responsible for the accuracy and completeness of raw data into and out of both SAP and TM1 to finalise the base financial information i.e. ‘one version of the truth’. This output is primarily used to produce the reports for Management Accounts such as the CMC Financial Performance pack.
• Responsible for regulatory reporting to the Central Bank of Kenya - Review and approve the completed schedules before they are submitted.
• Responsible for the quarterly, half year & full year statutory reporting, including newspaper publications
• Ensure compliance with IFRS/Group Accounting policies, regulatory guidelines and procedures in Group, Statutory and Regulatory reporting.
• Actively develops a culture of continuous improvement. Review processes procedures and requirements, on a regular basis, identify areas for improvement and drives through the necessary changes.
• Ensure all queries from the Relationship Management team and/or Business are dealt with appropriately and issues escalated as required.
• Keep local compliance stakeholders updated on regulatory pronouncements, and the impact to their business.

Financial Control- Time split%:40%

• Implementing the Financial Controls and Processes to ensure the Bank is complying with all Group accounting and financial control policies and to account reconciliation.
• Reviewing processes procedures and requirements, on a regular basis, identifying areas for improvement and driving the necessary changes
• Coordinate all annual audit & statutory reporting activities, including preparation of financial schedules & reports.
• Developing and maintaining relevant and timely information for the Balance Sheet Review Committee and other control forums to enable effective decision making and achievement of targets.
• Coordinate all annual audit & statutory reporting activities, including preparation of financial schedules & reports.
• Management of audit action items, ensuring closure by due date
• Implement the account Ownership and reconciliation policy ensuring the reconciliation and verification of all accounts within the General Ledger (GL) that are used for internal and/or external financial reporting, including financial statements and disclosures. 
• Maintaining the Bank Chart of accounts and the General Ledger opening workflow attending to ad hoc queries from the branches and business units relating to GL usage and reconciliations.
• Timely and accurate submission of Finance Control monthly attestation
• Providing adequate information to account owners to enable them to complete their control attestations at the required intervals.
• Collating and Providing appropriate P&L and balance sheet commentary to the group
• Brings clarity of thought to financial implications and guides the business to the decision that needs to be made. Using breadth and depth of business knowledge and experience gives the business confidence in the decisions taken. Challenges rationale with clarity and intuition and brings creativity and innovation to alternative solutions.
• Creates the business information delivery mechanisms to facilitate insightful provision of information to unit management, and to analyse and interpret the value chain performance of service operations.
• Bring clarity of thought to the financial and non-financial implications and guide the business to the decision that needs to be made. 
• Can clearly articulate impacts of scenario analysis and put forward solutions/ recommendations for consideration. 
• Demonstrate capability to manipulate the financial drivers of cost & profit to support analysis of benefits impacts of investments, articulating risk and issues and financial implications.

Other facilitative Support Functions – 20%

• Monitor performance and identify areas for improvement.  Actively look for ways of smoothing peaks and troughs and reducing time scales. Assist with the development of Financial Plans and ensure that these are implemented.
• Assist with the development and monitoring of performance metrics / internal monthly scorecard for the Bank, and use these to drive and improve performance, drive out costs, add value, and improve customer service.
• Assist in the preparation of the Statutory Audits and Central Bank inspection visits to the Bank.
• Provide trusted financial analysis on a wide range of complex technical/business issues in connection with jobholder’s area of responsibility, e.g. variances, trend, impact of change initiatives, impact of new accounting regulations and how to account for new areas/ types of business.

Team Building- Time split%:10%

• Act as part of the leadership team within Finance, developing and implementing strategy to deliver the Finance vision and achieve overall finance goals.
• Invests time in colleagues. Actively share knowledge and shares best practice with colleagues.
• Determine and manage Finance resources effectively to exceed customer expectations.

Preferred Qualification

• Certified Public Accountant
• Bachelors in a Business/Finance course

Knowledge and Skills

• Broad knowledge of the Bank’s financial, costing and management accounting processes.
• Good knowledge of the bank’s products and services.
• Good Knowledge of CBK Regulatory guidelines.
• Thorough understanding of the SAP GL.
• Broad understanding of the Finance functions at all levels throughout Group
• Thorough knowledge of the Bank’s accounting policies and procedures
• Previous experience in a Finance function.
• Certified Public Accountant

Behavioural Competencies

• Competency
• Leadership skills
• Teamwork and collaboration
• Stakeholder management
• Business acumen

Technical Competencies

• Financial analysis
• Financial controls
• Analytical skills
• Strong understanding of IFRS/IAS
• Understanding Prudential guidelines