Treasury Product Control

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Job Summary

The overall purpose of the Job is the day-to-day management of the teams responsible for the production of various tasks within an asset class in the PCG team which carries out the following:
. Accounting – posting to the General Ledger accurate and timely information
. Substantiation of the balance sheet – ensuring the full balance sheet can be substantiated
• Regulatory reporting alignment – ensuring the Balance Sheet is aligned to reports to regulators
• Data Ownership – ensuring the quality and accuracy of the data going downstream to other infrastructure areas
• Control Environment – overseeing the control environment in which the business operates
• P&L review – understanding and providing commentary on the P&L

In the process of production, focus is needed on:
• Escalation of significant issues reported
• Reporting – ensuring reporting is accurate and timely
• Control – Continue to implement the on-going control environment and report any deficiencies or issues to managers.

Job Description

Job Description

Management and oversight of immediate team performing P&L production and BS substantiation:

• Expert knowledge of products traded on the desks and their impact across the finance sector

• Thorough understanding of the risk and P&L drivers for the products coupled with an understanding of external markets and changes in market parameters

• Needs to maintain an excellent understanding of processes and procedures to be able to pick up production where necessary.

• The capacity to work, manage and deliver under pressure.

• Presentation of consolidated financial information for FO and Finance Management

• Interact with other infrastructure areas, specifically Operations and Financial Control, for issue resolutions

• Ultimate escalation point, including the facilitation of issue resolution.

• Ambassador of immediate team to rest of the organization

• Involvement in any Product Control specific initiatives

Interaction with key stakeholders:

• Interaction with various areas across the Absa Group in order to obtain and understanding of the impact these areas have on Product Control as well as providing both formal reporting as well as ad hoc query resolution to these areas. Areas include:

  • Absa Group Finance, including Financial Control, Balance Sheet Control and Financial Decision Support

  • Absa Treasury Front Office

Accountability: Projects/Change

• Efficiency – looking for continuous improvement in the efficiency by which the desk carries out its work.

• Reporting – looking for continuous improvement in the reporting ability and performance of the desk

• Control - looking for continuous improvement in the ability of the desk to control the business

Education and Experience Required:

• 2-3 years of relevant product experience

• Relevant degree in Finance, CA(SA) or CIMA. Post grad in CFA or FRM beneficial.

• Investment banking, Treasury or Product Control experience preferred

• Product specific knowledge preferred (Liquid assets, Capital Market Instruments, Fixed Income products, Investments in Subsidiaries, Financial Modelling, Valuation ,Analysis)

• Experience in maintaining an effective control environment

Knowledge & Skills:

• Strong technical accounting skills

• Exceptional academic track record

• Good interpersonal and team-working skills and the ability to communicate at all levels

• The ability to work in a pressured and unstructured environment and to cope with the demands of working to tight deadlines

• Maturity – able to deal with managers

• Business acumen

• An understanding of financial mathematics

• Performance orientated and client service driven

• Report writing and presentation skills

• Understanding of Economics

• Knowledge of financial markets

• Excellent numeric ability

• Investment banking product knowledge

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

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