Job Summary
To provide financial leadership and support to the business. Provide guidance from a financial perspective to the business around the developing and measurement of businesses strategic goals. Drive operational understanding of the financial impact of decisions made. Drive the businesses financial objectives by providing accurate value-added financial management information and analysis.
Job Description
Key Accountabilities
Accountability: Financial Leadership and Support to business
Provide direction to the business executive committee (exco) based on analytical review of the Business Performance within their Strategic Investment portfolio and an understanding of key business drivers
Provide clear direction to the exco on what the business requirements and imperatives are by translating current business performance into actionable business objectives aimed and driving and improving performance.
Participate as an active member of the Executive Committee of the business
Translate functional strategy into meaningful operational targets for the book of work for the business unit under management. Ensure that the focus areas are disseminated to all levels in the business unit
Represent the business at a strategic investment functional level and negotiate and secure the budget and plans for the business unit and together with the Business ME take accountability to ensure the delivery on the promised project delivery.
Negotiate with the various stakeholders on the targets set and drive the overall achievement of SI objectives in the business unit through the performance management function within the required business parameters.
Drive change proactively aimed at continuous improvement in all areas of the business.
Understand the requirements and mechanics of the planned project delivery in line with cash availability and benefit delivery. Support the business with the determination of the optimal usage of cash, working within the constraints laid down the strategic investment framework.
Understand the requirements of productivity and help the business implement the principles and measurement capabilities to execute accordingly.
Accountability: People Management
Embed formal Performance Development and informal coaching in the Team
Motivate team and assist in implementing measures to proactively manage people development within CFM.
Motivate team members through coaching and mentoring them to perform optimally around the vision and values, create a sense of urgency and excitement around the business and ensure that they strive to deliver optimally.
Accountability: Risk Management
Act as sponsor for the function's Risk Management Control Framework and manage and ensure compliance of the relevant policies from a financial perspective.
Implement areas identified in the review of audit issue/findings logs and ensure adequate attention is given to closure within the agreed timelines.
Assist and facilitate compliance related requests in relation to critical processes within the functions.
Review, contribute to and approve training to functions on an annual basis covering all aspects of the CFM processes.
Accountability: Financial management and Business Partnering
Working with business unit heads define the cost center structures and rollup/ consolidation to effectively manage the businesses performance.
Work with business unit heads to determine their performance reporting (financial and non-financial) needs and agree deliverables on an annual basis
Define and instruct team on the formatting of management reports and contract with system developers and data providers to develop the reports
Ensure "one version of the truth" for all reporting and that management reporting reconciles/agrees to reports produced within other areas of the business
Review the variance analyses for the different business units as prepared by the team and discuss major variances, on the cost and income sides, with business unit heads to gain and understanding of the reasons
Review quality of and provide input into the functional Exco pack (as compiled by the function) with a focus on the variances, reasons for variances and overall business performance of the function.
Review transfer pricing arrangements in place for group functions charging to the clusters. On a monthly basis review reports to ensure that the charges processed are accurate and address concerns directly with the finance teams from other areas
Lead investigations into cost saving initiatives and make comprehensive recommendations to the function.
On request from project/change teams, provide input and support during the development of business case financials for new projects or initiatives
Accountability: Financial forecasting
Working with the functional team, participate in the forecasting and scenario planning processes by providing a view on the financial impact on the function of changing internal financial strategies
Advise functional decision makers on the process and requirements during the MTP (Medium Term Planning), STP (Short-term/budget planning) and RAF (Revised Annual Forecast) cycles. Ensure that their commitment and thorough input is obtained for these activities and support them with translating strategy into financial objectives on request
Manage and review the consolidated financial plans generated by MTP, STP and RAF prepared by the team and quality check the consolidations prior to recommending approval to the functional heads.
Role/Person Specification
Education and Experience Required
NQF Level 7: Honours/Masters Degree
CA(SA) or equivalent NQF level 7 qualification
At least 5 years general management experience in a banking finance environment
At least 3 years experience in successful performance management
At least 3 years experience as a proactive change agent
Experience in a Leadership role
Exposure to dealing with Key stakeholders & Senior Management
Knowledge & Skills:
Banking regulation (Expert)
Writing & reporting (Advanced)
Presentation skills (Advanced)
Understanding of systems used (Advanced)
Understanding of relevant legislation (Advanced)
Understanding of corporate controls and checks (Advanced)
Knowledge of business continuity and contingency (Advanced)
Computer literacy (Advanced)
Excellent organisational skills (Advanced)
Excellent communication skills (Advanced)
Relationship management and networking (Advanced)
Strong performance management and coaching skills (Advanced)
Ability to think creatively (Advanced)
Ability to react positively under pressure (Advanced)
Good understanding of the policies and strategies (Advanced)
Understanding of Banking operating structures (Advanced)
Change management (Advanced)
Competencies:
Entrepreneurial and commercial thinking
Deciding and initiating action
Adapting and responding to change Planning
Learning and researching
Analysing
Planning and organising
Relating and networking, Leading and supervising
Education
Postgraduate Degrees and Professional Qualifications: Financial Sciences (Required)
