Financial Services Business Partner

SUMMARY:
12 Month Contract for Financial Business Partner for top tier financial services company.

POSITION INFO:
12 Month Contract for Financial Business Partner for top tier financial services company.

Financial Services Business Partner

Purpose of the role:
To track financial performance and provide financial information, forecasting and analysis to help guide decision making for specified business units
Minimum Qualification Bachelor of Commerce Degree
Preferred Qualification Post Graduate Bachelor of Commerce Degree, CA(SA) or CIMA
Experience Required 3 to 5 years experience in a similar environment, of which 1 to 2 years ideally at a junior specialist level
Budget Management:

• Provide input into the budgeting process and monitor utilisation for the financial year according to the operational plan
• Produce or review budget reports to make sure they accurately reflect work activity
• Ensure financial documentation is maintained to support accurate record keeping and future legislative requirements
• Escalate potential budget risks that may lead to increased costs or financial losses
• Present work proposals on planned activities that will require financial resources
• Allocate and approves expenditure
• Collate, analyse and evaluate data and information to forecast expenditure and cash flow trends and make
• recommendations to improve budget

• Deliver against operational and cost targets
• Prioritise resource allocation to minimise and reduce wastage
• Monitor costs for the financial year according to the operational plan
• Allocats and approvs expenditure
• Review cost reports and resolves or explains variances to the budge
• Identify, control and escalate potential risks that may lead to increased costs
• Manage costs or expenses within approved budget to achieve cost efficiencies

• Ensure full understanding of customer needs to deliver a quality service
• Ensure customer service solutions are aligned to the business operational plan; Organisational values and service standards
• Communicate how customer service solution will be implemented and secures buy-in
• Ensure product knowledge and advice is technically accurate and provide customers with relevant information to keep them informed of products and service options
• Ensure resolution of customer queries and complaints timeously and ownership of issues
• Analyse customer feedback to help improve customer service
• Propose ideas to improve customer service

• Improve business decisions by providing accurate and reliable business intelligence (information) together with analysing trends and data
• Provide regular reports on delivery of services against agreed service level agreements and in terms of overall customer targets.
• Accumulate information to review work progress that provides input to reporting, decision making and the identification of improvement opportunities

• Ensure compliance with relevant statutory, legislative, policy and governance requirements in area of accountability
• Ensure implementation of relevant policies, governance and practice standards across the business
• Maintain knowledge on relevant legislative amendments, industry best practices and internal
• compliance procedures and requirements
• Ensure compliance is adopted in terms of systems and procedures as laid out by organisation and review in response to audit findigns and changes
• Develops an understanding of risks and risk management approaches
• Implement and provide input into the development of governance and compliance procedures and processes within area of specialisation and identify risks
• Educates others and makes suggestions for improvements
• Networks and participates in specialist risk forums where required

• Implement, monitor and control business processes according to quality standards; policy; and compliance and governance requirements in area of accountability
• Ensure the development, alignment, mapping and implementation of end-to-end processes aligned to the customer journey map
• Research, enable and consult on improvements and opportunities to harness technology and platform enablement
• Review existing processes and suggest innovative ideas to improve and streamline processes to drive efficiencies and minimise redundancy
• Monitor customer feedback reports and align processes to maximise efficiencies

• Communicate issues identified with accounting team for rectification
• Review balance sheet analysis i.e., accounts payable/receivable etc. in line with an understanding of the business context
• Communicate any corrections required, to the accounting team and further check that corrections are made in line with business understanding
• Review monthly payroll headcount lists and ensure accuracy is maintained by validating the information with business
• Communicate any changes to the headcount data to the appropriate payroll function
• Manage governance around payment processes and ensuring that the appropriate level of approvers is in place
• Liaise with business on invoices not yet paid and gather supporting evidence to ensure that accruals are raised in the correct financial period
• Test and review costing model allocations to stakeholders in line with agreed costing principles
• Understand and communicate implemented changes or proposed changes to costing methodology
• Analyse, monitor, and communicate monthly SLA charges and recoveries
• Ensure completeness of strategic reports and timeous delivery thereof
• Collaborate with cost model team regarding principles and ongoing changes including review of output
• Monitor and analyse incoming SLA charges (if applicable in your area) and provide details to stakeholders to be able to validate the charges.
• Gain an understanding around drivers or principles of cost allocations
• Engage in discussions with business, finance areas and other impacted areas on correctness of what has been applied
• Engage with relevant stakeholders in other areas of the Group to source information on a frequent basis

• Provide analysis, insights, control over targets, actual performance measures, information management, process simplification and automation to ensure accurate forecasting and delivery of result across full Profit and Loss
• Be the contact point for business to help interface with local finance on reporting of results, ensuring timely and accurate submissions
• Ensure monthly GL structure, maintenance and alignment to all stakeholders is adhered to
• Ensure timelines with reporting team are met
• Conduct ad hoc reporting and handle audit queries as required
• Compile and review monthly reports
• Highlight strategic and material issues in report by early identification and engagement across finance and business teams
• Review reports to streamline and propose report enhancements where possible
• Monitor reporting and discuss strategic issues highlighted by relevant stakeholders
• Assist in compiling and reviewing relevant management reports sent to relevant stakeholders for business insights
• Track and analyse performance across the board (year on year and month on month)
• Compile presentations for relevant stakeholders to present
• Deal with external auditors at year-end regarding any issues and group queries if required
• Engage internal auditors on potential issues to resolve during audit process or escalate to central level for resolution
• Ensure ongoing focus on reducing queries, comebacks, and demotions
• Complete the interims and year end reports timeously and accurately if applicable in the portfolio
• Engage with relevant stakeholders in the group and present at various Steercos if required
• Reconcile reporting systems (Essbase) to FirstRand reporting platform (HFM) and promote/provide sign-off
• Compile and manage consolidated headcount

• Prepare and interpret running monthly and annual forecasts
• Conduct budget reallocations based on structural changes within business
• Compile and ensure adherence to budget guideline documents
• Hold discussions with stakeholders on proposed budget results for approval
• Agree on budget deliverables with stakeholders
• Adhere to budget timelines and ensure communication thereof
• Communicate external cost changes i.e., SLA and interdivisional on an ongoing basis
• Engage business on forecast to get input and sign off
• Prepare and conduct budget presentations for various stakeholders
• Provide input and ongoing amendments of budgets on Essbase
• Understand and interpret final budget numbers
• Prepare and maintain relevant Balance sheet schedules to track stakeholders spend over the year
• Highlight issues and concerns for discussion and resolution throughout budget process and monthly forecast process
• Develop close working relationships with senior stakeholders in the business to ensure alignment of monthly forecast and ensuring accurate delivery of result as per monthly financial forecast
• Monitor forecast to budget and provide business with variances and reasons for such variances against budget

• Develop frameworks to guide sales and marketing team to optimise spending
• Develop business cases to launch new products and business models
• Arrange project meetings and interact with impacted parties
• Assist in the formulation of a solution for approval and implementation, where required

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