Finance Business Partner

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Job Summary

Responsible for driving finance business performance and analytics for Corporate and Investment Banking (CIB – Global Markets) and Treasury. This role requires a deep understanding of the key drivers of the balance sheet, income statement, and related performance indicators. It also involves delivering critical financial insights to the Head of BP&A, Director of Corporate, Director of Markets, and Country Treasury. Additionally, the role ensures ongoing revenue assurance through effective month end processes, product profitability analysis, and the accurate recognition of revenue, costs, and balance sheet items.

Job Description

Main accountabilities and approximate time split

Financial insights & strategic risk management (50%)

• Responsible for maintenance of accurate financial reports (Management accounts) for all Corporate and Investments Banking and products performance.
• Partner with business by providing an accurate and timely reflection of their performance, revenue, cost, and, ultimately, profitability on a timely basis.
• Provide objective and analytical insight into business and product performance, highlighting areas of risk and opportunities for the business.
• Proactively analyse risks and opportunities associated with the bank's financial performance.
• Collaboratively work with the strategy team to ensure alignment of strategic agenda and financial impact.
• Provide business and products support by actively participating “New products and governance committee” by providing a financial perspective and monitoring benefits realization for all new products and other initiatives.
• Assist in preparations of Management packs inclusive of quantitative reports and qualitative commentaries For FCMC, MBR, Flash calls, Absa Group Limited and other Bank committees.
• Resolve problems with internal business customers such as incorrect data captured in financials, rectifying inputs in the wrong place, and generally working with highly variable quality data. Actively resolve any inconsistencies to ensure our financial information is accurate and complete for decision making
• Preparation of non-financial information (Level 2 information) and product/system/process deep dive that will help to drive meaningful discussion and decision-making
• Timely identification and escalation of risk issues within business support and analytics unit.
• Perform ad-hoc analysis as requested by senior management.

Planning and Performance Management (20%)

• Assist in the preparation of the targets and proactively monitor achievement.
• Collaborate with business to identify risk factors that could impact our ability to deliver targets and corresponding corrective actions
• Provide mid-months outlook/flash (at least 3 times a month), to enable business/Management to accelerate actions and behaviors linked to high performance.
• Provide business support in understanding and analyzing key drivers of the various cost lines vis a vis budgets.
• To report financial and other performance measures (metrics) to Absa Africa.

Competitive analysis & Other Macro factors (10%)

• Collect and analyse market data and competitive trends, pertaining to CIB and are likely to affect the business performance and its competitive advantage, and make recommendations to enhance product profitability.
• Analysis of publicly available data, such as Macros and different BOT reports that could inform market trends. Typically, Sectors performance in terms of Customers deposit, Loans and advances, including currency mix of deposits.
• Perform market Intelligence to inform the strategic directions, Including key trends observed from competitors and other industries that would inform our strategic choices.

Financial Controls and Compliance (10%)

• Work closely with financial controls to enhance financial controls in terms of improvement in existing processes, infrastructure and capabilities. This includes:
• Ensure financial information are prepared in accordance with IFRS, and other relevant guidelines
• Ensure new and existing product programs have clear accounting entries and guidelines.
• Ensure tax treatments align with relevant tax acts
• Ensure products mapping is up to date and accurate, such that Revenue and Balance sheet is booked to appropriate profit Centre/Business segments.
• Collaborate with Financial controls to automate or enhance existing processes to foster efficiency and timely preparations of financial information.
• Ensure Financial segmentation is done fairly, accurately and timely for each month end. Also ensure TM1 results (Tanzania Cube) aligns to SAP and FR packs for consistent reporting. Any discrepancies must be communicated to head of Business performance and Analytics and Financial controller.
• Automation of key reports in Power BI or any other relevant data analytical tools as approved by the Bank.

Fund Transfer Pricing (FTP) (5%)

• Ensure FTP system (LUM) is configured in line with FTP policy, as approved by ALCO.
• Ensure smooth FTP computation to ensure a fair distribution of economic benefits & costs across functions.
• Implement key FTP changes, such as Behavioural profile and any other assumptions, subject to appropriate governance
• Communicate FTP results to business and Head of Business Performance and analytics, as well business colleagues before positing.

Team building and Support (5%)

• Take responsibility for personal performance development, training and career development plans and ensure they are relevant and progressed.
• Actively contribute to different matters relevant for elevation of bank performance, Including supporting other team members.
• Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
• Performing assigned snap checks allocated as per guidelines.

Risk and Controls Objectives

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Absa Operational Risk Framework and internal Absa Policies and Standards

Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture:

• Understanding of own role in the end to end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
• Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
• Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
• Continuous and proactive engagement with regulatory bodies, unions where applicable
• All mandatory training completed to deadline
• All mandatory training completed to deadline

Personal Attributes

• Team player
• Analysis and judgement
• Proactive
• Information gathering
• Thoroughness
• Business awareness
• Persuasive
• Good communication, report writing and presentation skills.
• Quality conscious
• Adaptability

Technical skills / Competencies

• Competence
• Bachelor’s degree in accounting, Finance, Economics, Statistics, Actuarial Science, Mathematics or related fields.
• Accounting Professional Qualifications (CPA or ACCA) will be an added advantage.
• Master's degree in business studies is an added advantage
• At least 4 years' experience in Business Finance and Analytics, Auditing, Business or Strategic planning, or Financial Accounting.
• Knowledge on Power Bi will be an added advantage
• Strong analytical and Interpersonal skills
• Ability to work to tight deadlines without compromising accuracy

Training likely to assist effectiveness in the role, and which may have been completed prior to undertaking this role:

• Product / Service knowledge
• Influencing and Negotiation Skills
• Presentation.

Absa Values

Absa’s Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• Trust
• Resourceful
• Stewardship
• Inclusive
• Courage

Education

• Higher Diplomas: Financial Sciences (Required)