Regulatory Reporting Specialist

Absa Group; Johannesburg; On-site; ZAR 450,000 - 650,000; Full time

Job summary

Join Absa Group as a professional responsible for preparing regulatory information and returns to the Prudential Authority, driving compliance and system developments. Ideal candidates are Chartered Accountants with strong analytical skills and an understanding of banking regulations. This role offers a unique opportunity to shape regulatory compliance strategies within a leading African banking group.

Qualifications

• Minimum Chartered Accountant (SA) or equivalent.
• 1 - 3 years experience in banking desirable.
• 3 years’ experience with regulatory returns preferred.

Responsibilities

• Prepare and complete BA returns to the Prudential Authority.
• Oversee system development and automation projects.
• Communicate and manage timelines for compliance submissions.

Skills

Analytical

Attention to detail

Strong computer skills

Education

Chartered Accountant (SA)

Bachelor's Degree in Financial Sciences

Job description

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

Responsible for collation and preparation of regulatory information to the Prudential Authority (PA) according to regulatory guidelines and procedures.

Job Description

Key Accountabilities

Accountability: Preparation and completion of BA returns

• Primary responsible for the production and review of the Financial and Capital returns.
• Timeously communicate the risk owners and GRR stages in the production process.
• Collect information from various sources, i.e., Finance, Credit, Treasury, and business units, Corporate and Investment Bank, Retail and Business Bank and Absa Regional Operations for the compilation and preparation of BA returns to the PA.
• Coordinate resources from other areas of the Group, planning and managing the timetable for data collection, consolidation and review of data and information and ensuring that deadlines are met in respect of data submissions to the PA.
• Calculate the relevant sections required of returns, such as Non-Standard Asset, Securitisation etc., for submission to the PA within set deadlines, drawing from source data and own financial and Basel knowledge and expertise.
• Prepare, calculate, and compile the working sheets in support of the relevant BA returns to the PA for review by the reviewer and management.
• Maintain the mappings from the IFRS balance sheet and income statement line items to ensure that results are correctly reported in terms of the regulations.
• Prepare and maintain the relevant working papers, calculations and or reconciliation in support of the BA return and other submissions to the PA.
• Upload the BA returns after review into the PA submission tool (DIX).
• Run validation checks on DIX and present for sign off by reviewer.
• Investigate queries and draft responses thereto as received from the PA on an ad-hoc basis.
• Meet reporting deadlines as set internally per working day timetables
• Prepare the monthly management information and analysis packs on the BA returns for internal review.
• Prepare the commentary and Executive Summary for the monthly management information packs.
• Identify enhancements to current reporting processes and policies to achieve optimal efficiency.
• Build relationships with all the relevant stakeholders in the process.
• Respond/communicate to the Prudential Authority and BASA queries and letters.
• Maintain process documents and be a key input in the CPA requirements.
• Co-ordinate and participate in the Reg 46 audit process
• Play a key role in the implementation of Basel IV

Accountability: System maintenance and development

• To drive and oversee projects which involve system development and automation.
• Maintain process maps which should include critical controls and process performance measures.
• 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 to GRR management

Role/Person Specification

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 the banking industry
• Good report-writing skills
• Sound values and judgement
• Analytical
• Logical Thinker
• Attention to detail
• Work well in the team and across teams
• Self-starter

Education and Experience Required

• Minimum Chartered Accountant (SA) or equivalent experienced accountant with tertiary accounting qualifications and demonstrated technical expertise
• 1 - 3 years experience in banking is desirable.
• 3 years’ experience in the compilation of risk data and or financial returns to the PA would be preferred
• Strong academic track record.

Competencies:

The position requires an accountable person with a passion for banking regulations, investment banking, treasury, and more complex banking activities. The following competencies are required:

• Analysing: Analyses numerical data, verbal data, and all other sources of information.
• Applying expertise and technology applies specialist and detailed technical expertise; uses technology to achieve work objectives.
• Writing and reporting: Writes clearly, succinctly, and correctly.
• Deciding and initiating action: Takes responsibility for actions, projects, and people; initiates and generates activity.
• Planning and organising: Plans activities and projects well in advance and takes account of possible changing circumstances; monitors performance against deadlines and milestones.
• Communication with multiple stakeholders
• Coping with pressure and setbacks: Works productively in a pressurised environment; Handles criticism well and learns from it

Education

Bachelor`s Degrees and Advanced Diplomas: Financial Sciences (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