Product Controller at Absa in Johannesburg, Gauteng, South Africa

Product Controller Location: Johannesburg 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 PPB Finance: Product Control Function The purpose of the role is to ensure effective management of risk associated with Balance Sheet schemes’ settlement General Ledger Reconciliations.  Design the controls that will adequately mitigate settlement risks. Ensure compliance with Group Policies, standard, finance policies and procedures that are applicable in the finance world. Job Description Accountability 1: Risk and Compliance Management of risk associated with schemes’ settlement General Ledger Reconciliations Design the controls that will adequately mitigate the Balance Sheet settlement risks Comply with Group Policies and Standard that are applicable in the finance world Ensure compliance with internal policies and procedures Liaise with internal and external compliance functions, e.g. Internal Audit, Group Compliance in order to stay up to date with developments in the Risk environment Manage risk by ensuring that financial policies and procedures, regulatory and statutory requirements are being complied with Accountability 2: Balance Sheet Risk Management Oversee & review of Schemes’ Balance Sheet reconciliations and daily balancing Ensure that the Reconciliations are performed as per Account Ownership and Reconciliation Policy (AoR) Monthly Attestation on Consigno Reporting Tool: Identify and flag/report items at risk as per Account Ownership and Reconciliation Policy (AoR) Ensure that journals are processed accurately, completely and timeously as per Manual Journals Standard Collaborate with IT to resolve incidents raised and ensuring that IARs are managed/ kept to a minimum Present Scheme Recons Breaks Dashboard in the monthly governance forum Accountability 3: New and Amended Product (NAPA) governance process Ensure that schemes finance complies with the Product Risk Standard Provide inputs in the Product Control Finance: monthly NAPA forum on the impact the new and amended products will have on the settlement GL reconciliations Ensure that new products introduced are successfully incorporated into the reconciliations /balancing landscape (i.e., GL flows, etc.) Accountability 4:  Control Environment Ensure that control environment remains stable Provide Internal and external audit support and ensure that the audit process is well managed and co-ordinated with no inefficiencies (audit overruns) Ensure that the external and internal audit issues raised by assurance providers are remediated sustainably and within the agreed timelines (no overdue audit issues) Ensure that IT incidents as a result of GL issues or product system glitches are investigated and resolved timeously to minimize risk in the Balance Sheet. Identify critical manual or semi manual processes that should be automated or streamlined Accountability 5: Stakeholder Management Develop stakeholder relationships using effective communication plans and forums Build and maintain relationships with multiple stakeholders across all Business Units Establish and agree SLAs with various stakeholders Attend to stakeholders’ queries and ensure that their expectations are met or exceeded Accountability 6:  People Provide adequate support to the Head of the Department and be able to stand in when the Head of the Area is not around Upskill and coach junior colleagues and ensure that there is adequate succession plan Education and Experience Required Bachelor’s degree in finance and/or auditing Must have a strong background in reconciliation 3 years financial and operations finance at a supervisor or manager level Must have Banking experience Product systems - CAMs systems knowledge will be an added advantage Financial Systems: Millenium and SAP S4 knowledge is required Very strong financial and product control background 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