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
This team is responsible for ensuring consistency and overall accuracy of returns, queries, commentary and supplementary data, submitted to the Prudential Authority. Reports changes to the Regulatory Reporting Change Control Committee (RRCCC). Interaction with the regulatory risk and data production center's (such as Finance, Treasury, Credit Risk and Market risk), in order to source data and implement efficient data flows that support the requirements mentioned above in a sustainable way.
Job Description
Key Accountabilities
Preparation and completion of risk information:
Collect information from various sources in the risk and production centres, for the compilation and preparation of consolidated risk information required in the Prudential Authority (PA) returns
Coordinate resources from other areas of the ABSA Group, planning and managing the timetable for data collection, consolidation and review of data and information and to ensure that deadlines are met in respect of data submissions
Calculate the relevant sections required for returns for submission within set deadlines; drawing from source data, own financial and regulatory knowledge and expertise
Prepare the reconciliation of the risk and finance data (RAFDA) between systems to ensure that the data submissions is complete and accurate
Identification and preparation of the journals and or adjustments, for review, to ensure accurate and complete submission within the set deadlines and according to policy
Account for late adjustments to data and or return submissions with adequate supporting documentation and commentary for review by team leader
Identification of significant month on month, quarter on quarter and year on year variances, for commentary prior to review and analysis by team leaders and prior to submission
Obtain relevant risk commentary from the Regulatory risk and production teams on the variances identified and on queries raised by the Prudential Authority (PA) or internal review forums.
Collate the commentary and assess the adequacy thereof, by performing a high level review thereof, drawing on own knowledge and expertise, and present this for review prior to submission
Meet reporting deadlines as set internally and by the prudential Authority or as per instructions and working day timetables
Provide input and assistance to the reviewer and prepare the monthly management information packs for internal review forums
Identify enhancements to current reporting processes and policies in order to achieve optimal efficiency
Build stakeholder relationships, i.e. with Group Finance, Treasury, Market Risk and Credit Risk.
Preparation and completion of BA returns:
Collect information from various sources, i.e. Group Finance, Treasury, Market Risk and Credit Risk for the compilation and preparation of consolidated BA returns
Coordinate resources from other areas of the ABSA Group, planning and managing the timetable for data collection, consolidation and review of data and information and to ensure that deadlines are met in respect of data submissions to the PA.
Prepare, calculate and compile the working sheets in support of the relevant BA returns to the Prudential Authority for review by the reviewer
Maintain controls to ensure that the working sheets used in support of the BA returns is accurate and complete
Prepare and maintain the relevant working papers, calculations and or reconciliation in support of the BA return and other submissions
Prepare or calculate ad-hoc and other submissions to the Prudential Authority or internal governance forums such as the Regulatory Reporting Review Committee
Upload the BA returns after review into the PA submission tool - DIX
Run validation checks on DIX and present for sign off by reviewer
Prepare the monthly management information and analysis packs on the BA returns for internal review
Provide input and assistance to the reviewer in the drafting of the commentary and Executive Summary for the monthly management information packs
Identify enhancements to current reporting processes and policies in order to achieve optimal efficiency
System maintenance and development:
To provide input and oversee ad-hoc projects which involves system and process development and improvement
Document the enhancements for these projects for future reference according to ABSA requirements and on ABSA template documents
Test the automated solution for adequacy, effectiveness and reliability prior to implementation
To assist the system owners in the implementation of this automated solution, including roll out to business units where necessary.
Identify processes for automation to increase effectiveness and efficiency in the team and present the proposed solution for review
Role / Person Specification
Education and Experience Required:
CA(SA) or B degree/similar qualification in a financial/related discipline
Non CA with a minimum of 3-5 years relevant experience / CA(SA) with 0-3 year PQE
Proven experience in Regulatory Reporting is essential
Business experience in a Banking environment gained from a Finance, Product Management or Front /Middle office role preferable
Knowledge & Skills:
Knowledge of local/ international regulatory requirements
Strong computer skills e.g. Excel, Word, PowerPoint
Knowledge of SA / IFRS accounting standards
Product knowledge in banking industry
Good report writing skills
Analytical
Logical Thinker
Attention to detail
Reconciliation
System development
Project Management
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
Education
Bachelor`s Degrees and Advanced Diplomas: 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
Regulatory Reporting Analyst