Finance Officer – Account Payable at ABSA

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.

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Job Summary

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 Job holder is responsible for ensuring that all vendor invoices and staff reimbursements are prepared and processed accurately, efficiently, and in accordance with Absa bank’s policies, and all required regulations.

 Job holder will be directly responsible for effective cost accounting by ensuring cost are accurately booked and accounted as per required accounting standards and regulations.

 The jobholder also maintains the Head Office creditors’ payments (accounts payable) and the Bank’s fixed assets system.

 Work closely with the Financial controller and provide support during auditing exercise.

Account payable activities and reporting:

• Maintain sound control and process flow of the vendors’ invoice processing under accounts payable.
• Daily processing of the vendors’ invoices for payments
• Follow up on the status of the unapproved invoices in the system and advice financial controller on the issues on cockpit.
• Preparing and processing cash advances to staff and retirements as and when requested, in alignment with bank’s policy.
• Managing and processing branch expenditures and corporate credit cards as per bank’s policy and procedures.
• Monthly preparation of the amortization entries for prepaid expenses
• Preparing monthly accruals journals for major costs
• Periodical review of the cost accruals against actual costs booked in a month
• Maintain accurate and organized accounts payable records and documentation.
• Communicate with vendors and internal departments to address queries and payment issues.
• Contribute to process improvements to enhance efficiency and accuracy in payable operations.
• Assisting financial controller in month end closing process
• Work closely with CRES and IT and assist in processing all fixed assets related items
• Perform GL accounts reconciliations for all accounts attached to Accounts payable activities including the payments control account as per bank’s policy
• Support audits by providing required documentation and reconciliations
• Any other duties as directed by the line manager

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Skills required undertaking the role:

• Understanding of short, medium- and long-term strategies, goals and objectives
• Understanding of Governance and controls
• An Appreciation of the external economic, political, legal and regulatory environment and their impact to the business.
• Cost accounting knowledge
• Strong analytical skills
• Interpersonal skills – Time & stakeholders’ management
• PC skills
• Ability to work to tight deadlines without compromising accuracy

Financial software

Risk and Control Objective:

• Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture
• Understanding of own role in the end to end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
• Report all risk events / incidents / issues using the defined process for your business area and help to understand why these happened and how to prevent them in future.
•  Proactively look for ways to improve the control environment by considering what could go wrong in the processes you operate and how errors could be prevented.
• All mandatory training completed to deadline All mandatory training completed to deadline

Product knowledge

• Good knowledge of the bank’s products
• Fair knowledge of the accounting software (System operations) – SAP, Core banking etc

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