Specialist: AC Process Execution - Accounting Control

Job Summary

Financial Control is responsible for ensuring that Absa Africa fulfils its financial, statutory and regulatory reporting requirements, while ensuring compliance with accounting, regulatory and balance sheet control policy. Financial Control comprises the following areas: Accounting Control, Reporting & Analytics, Policy Governance & Controls, Technology Enablement, Cluster Control and Technical Accounting. Financial Control serves as the Group’s primary interface with the auditors and regulators.

Accounting Control owns the processes that enables sustainable, accurate and timeous financial information in support of reporting to external and internal stakeholders. The individuals will operate in the key processes in Accounting Control

• Act as the primary liaison between finance, product development, and technical teams, ensuring alignment of product features with financial requirements.
• Define and prioritize the finance product backlog, focusing on enhancements to financial systems and reporting capabilities.
• Collaborate with stakeholders to gather requirements, develop user stories, and translate business needs into technical specifications.
• Oversee the design, testing, and implementation of product features, ensuring seamless integration with general ledger and financial reporting systems.
• Ensure compliance with accounting standards, regulatory requirements, and internal controls throughout product development.
• Analyze and validate financial data flows from insurance product systems to the general Ledger, identifying and resolving discrepancies.
• Provide insights and recommendations to improve financial systems and processes, enhancing efficiency and accuracy.
• Training support end users on new product features, ensuring smooth adoption and maximizing value.
• Analyze function codes generated by the policy administration system and map them accurately to general Ledger accounts.
• Collaborate with IT and product teams to ensure seamless integration of the policy administration system with the accounting system.
• Test and troubleshoot system configurations to ensure proper flow and posting of entries into the general Ledger
• Provide accurate and timely financial data to support reporting reconciliation and audits
• Work with finance teams to analyze discrepancies and ensure the accuracy of financial records
• Ensure best practices are followed for mapping updates and data validation
• Document mapping rules procedures and changes for audit and compliance purposes
• Ensure compliance with relevant accounting standards (IFRS 17)
• Provide insights into financial implications of changes in policy administration systems
• Train relevant stakeholders on mapping processes and system changes  
• Provide ongoing support to users of the policy administration and accounting system
• Assist with audit and related queries

Must have-D

• Degree - Bcom accounting or similar
• IFRIS 17 Experience 

Education

Bachelors Degree and Professional Qualifications: Business, Commerce and Management Studies (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