Consolidation Reporting Business Partner

oldmutual; Johannesburg; On-site; ZAR 650,000 - 900,000; Full time

Job summary

Old Mutual in Johannesburg seeks a Financial Accountant in the Group Financial Control team to partner with OML Group and report to the Consolidation Reporting Manager. The role will work closely with the Head of Statutory Reporting and other Finance leads across business units.

The role focuses on IFRS consolidation, statutory reporting, and driving continuous improvements in the Group's financial reporting processes, with a strong emphasis on accuracy, governance and timely disclosures.

Qualifications

Responsibilities

• Prepare and review inputs and outputs of the OMLAC (SA) and/or OML consolidation in accordance with IFRS, Group policies, Companies Act and JSE Listings Requirements.
• Interpret and communicate complex financial issues to stakeholders, including senior management.
• Be a subject matter expert on key areas through understanding value drivers, risks and Audit Committee focus areas.
• Explain internal and external Group information, financial and non-financial, across units.

Job description

Let's Write Africa's Story Together! Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

The Johannesburg based role for a Financial Accountant within the Group Financial Control team responsible for business partnering in OML Group and will report to the Consolidation Reporting Manager. The role will also work closely with the Head of Statutory Reporting as well as the various Head of Finance roles within each Business Unit.

The main function of the role is:

• Preparing and/or reviewing specific inputs and outputs of the OMLAC (SA) and/or OML consolidation, in accordance with International Financial Reporting Standards, Group accounting policies, Companies Act and JSE Listings Requirements.
• Interpretation and communication of complex financial issues and concepts to all stakeholders, including senior management.
• Being a subject matter expert on key areas through development of a deep understanding of value drivers, risks and key Audit Committee focus areas.
• Understanding and explaining the internal and external business unit and consolidated Group information, both financial and non-financial

The role will also manage and/or support other formal internal and external reporting deliverables including the OML financial statements, SENS announcements as well as the preparation of internal documents to support these deliverables. The role will also have ad hoc responsibilities with respect to driving/implementing continuous improvements within the Group

Key Result Areas / Outputs:

Financial Reporting

• Accountable for the deliverables of the segment consolidation, which includes:
• The statutory OMLAC (SA) and/or OML consolidation supporting monthly reporting and the production of interim and annual financial Accessibility statements and related disclosure supplements of OMLAC (SA) and/or OML.
• Analyze and review the financial performance of the segments forming part of OMLAC(SA) as well as the consolidated Group, preparation of analytical reviews and write commentary as appropriate to assist understanding and insight
• Quarterly consolidation supporting where required
• Identify the need for consolidation journals and correcting entries to segment submissions and the Group consolidation and understand the impact on the Group result
• Preparation and/or review of relevant consolidation journals and consolidation proofs
• Review of business unit submissions, raising and efficient resolution of queries
• Prepare ad hoc information, presentations or reports and provide challenge and explanation to stakeholders where required
• Assist with management of the inter-company matching and eliminations processes
• Manage and maintain Disclosure Management System, the system used for the production of IFRS Financial Statements
• Management and preparation of ancillary information around the interim and year end reporting as appropriate
• Provide guidance to the team and segments on the practical application of technical accounting opinions (e.g. Accounting for business combinations in the Hyperion Financial Management system (HFM) to ensure complete and accurate reporting
• Leading various aspects of the external reporting process for the consolidated OMLAC (SA) and/or OML Group, including analytical review, drafting and completing financial statement disclosure notes, implementation of new accounting standards, and developing efficient data collection mechanisms as appropriate.

Keeps abreast of current accounting and tax developments Governance & compliance. Integrating accounting, actuarial and tax knowledge in terms of analysis and interpretation of technical issues

Ensuring compliance with International Financial Reporting Standards, Companies Act, JSE Listings Requirements and Group accounting policies through active engagement with segments, technical accounting, and accounting systems (HFM) teams

Ensuring HFM structures and Chart of Accounts are accurate by timeously logging amendments as part of the HFM change release cycles

Pro-actively reviewing and improving the consolidation process, including proposing and testing changes to the consolidation tool (HFM) as required

Adherence to the financial and internal controls framework for Group Finance

Management effectiveness

Creating, maintaining and enhancing productive working relationships with segments and the wider IFRS Financial Reporting Team

Business partnering with segment accounting teams by actively engaging with them in addressing key issues and providing advice on resolving those issues that may impact on the financial results of the Group

Managing interdependencies and relationships with key stakeholders such as External Reporting, Internal Reporting, Regulatory Reporting, Balance Sheet Management, Group Actuarial, and Tax

Liaising with auditors, ensuring the timely and accurate proofs, and audit trail for segment consolidation and the OMLAC(SA) and/or OML annual and interim financial statements

Understanding the in