Job Ref #: GMFIN#KZN_SN
Industry: Banking/Finance And Investment
Job Type: Permanent
Positions Available: 1

Job Description

CORE PURPOSE OF THE JOB

 To formulate and incorporate the strategy for the finance division to optimize productivity and contain costs and ensure that the finance strategy is aligned to the banks strategic objectives.

        Strategy

• Formulates the strategy for the Finance Division to optimize productivity and contain costs and ensures that this is aligned with the bank’s strategic objectives.
• Reviews the banks income and expenditure with a view to formulating recommendations to improve the banks overall performance.
• Ensures that the strategic objectives for the finance division are implemented within the agreed time frame.

   

  Compliance

• Keeps abreast of new developments within the banking industry to ensure compliance from a financial management and reporting point of view.
• Remains fully conversant with the requirements of the Banks Act, its regulations and the Companies Act.
• Keeps up to date with international financial reporting standards (IFRS) and ensures compliance by the Bank.
• Advises the FD and Executive Management on the impact on the Bank of proposed and actual legislative changes more particularly relating to the banking, company and taxation discipline.

   

  Special Projects

• Undertakes and/or manages special projects and/or assignments as may be requested by the FD from time to time.
• Remains fully conversant with the Basel llI framework and reporting requirements in respect of the Banks Act and regulations.

   

  Reporting

• Oversees and reviews the preparation of Reserve Bank Returns and ensures that they are submitted according to deadlines.
• Establishes relationships with external institutions to formulate and innovate Shariah compliant investment opportunities to maximize the bank’s revenue from surplus funds on hand.
• Ensures that internal controls are appropriate for the financial division and that procedural manuals are always up to date.
• Ensures that all reconciliations are kept up to date and that all reconcilable amounts are addressed regularly.
• Oversees the preparation of appropriate models and schedules to enable management and the Board to access the adequacy of the bank’s existing capital as well as its projected capital structure.
• Ensures that appropriate cost allocation processes are monitored.
• Critically reviews the monthly management accounts for reasonableness and identifies reasons for variance to business unit level.

   

   

  Budgets

• Provides guidance and direction with respect to the bank’s budget and 5 year forecast, ensuring the budget and 5-year forecasts are prepared within the groups time frames and submitted to Executive Management for review prior to submission to the Group and the Board.
• Plays an active role in the bank’s strategic planning process.
• Ensures that the banks internal capital adequacy assessment process is appropriately managed; maintained and reported on.

   

  Treasury Management

• Oversees the bank’s treasury management function to ensure it is appropriately managed in all aspects.
• Indentifies and evaluates financial institutions for purposes of establishing exposure limits.
• Evaluates investment commitments to ensure that the best possible returns are achieved.
• Reviews the bank’s investments on an ongoing basis.
• Ensures the development, implementation and review of a sound treasury risk management methodology.

Financial Management

• Attends to all taxation matters pertaining to the South African Group including tax management and planning.
• Provides guidance to Executive Management with regard to growth and income targets for the budget exercise.
• Ensures that a 12 month rolling budgeting system is implemented and maintained.
• Co-ordinates and oversees the preparation of interim and year – end financial statements in conformity with IFRS.
• Co-ordinates and oversees the preparation of monthly, quarterly and year-end reporting packs according to the time-frames and requirements of the bank’s holding company.
• Ensures that the Financial Sector Charter (FSC) reporting requirements are adhered to.
• Co-ordinates and liaises with the bank’s external auditors to ensure proper planning and execution of the bank’s audit requirements.
• Attends Executive Committee Meetings; namely: ALCO; EXCO; Board; and Management Risk Committee Meetings.
• Participates and contributes towards any issues reviewed at these meetings.
• Co-ordinates, oversees and reviews the preparation of management and monitoring reports as may be required by ALCO, EXCO, the Board and Board Committee. 
• Attends any other meetings that may be required by the FD or CE from time to time.
• Evaluates and improves, where required, the overall effectiveness of the accounting function and system.
• Maintain and enhance profit distribution model, including managing the timely loading of the weekly profit rates.
• Ensures all finance related activities relating to the property company is maintained and meet all required reporting standards.

Job Requirements

QUALIFICATIONS

• CA(SA) or similar relevant qualification

   

  PREFERRED EXPERIENCE

   

• Microsoft Office products with specific reference to Advanced Excel
• Exposure to Reserve Bank Returns
• Knowledge of Basel III requirements
• Knowledge of IFRS standards
• At least 5 years previous banking experience

 

KNOWLEDGE

 

• Financial Management
• Taxation
• Budgeting and forecasting
• Liquidity and treasury management
• Financial modelling
• Systems and technology
• Banking operations
• Project management
• People management

 

 Al Baraka Bank is an Equal Opportunity Employer. Applicants from the previously disadvantaged groups and people with disabilities will be given preference in line with the EE Plan