Senior Finance Manager: Cost Optimisation and TP Management

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

The position of Senior Finance Manager: Cost Optimisation and TP Management is open in RB Finance. This role provides financial leadership and support to the business, offering guidance on developing and measuring strategic goals from a financial perspective. It drives operational understanding of the financial impact of business decisions and helps achieve financial objectives by delivering accurate, value-added financial management information and analysis. The team continuously supports decision-making for Exco and senior management within RB. This role specializes in Transfer Pricing and total cost FPA & Reporting.

Job Description

Analysis and management of RB Transfer Pricing

• Provide analysis on RB Transfer Pricing to ensure alignment with the cost optimization strategy.
• Review cost drivers, services and allocation methodology for Group TP and RB recoveries.
• Manage RB performance cell reporting to ensure fully absorbed cost reporting for each product and segment.
• Represent RB at Absa Group TP forums, offering strategic support to RB Exco through insights and ad hoc analysis of RB TP.
• Review transfer pricing arrangements for group functions charging to the cluster and recharges from the cluster to other business areas. Monthly, review reports to ensure charges are accurate and address concerns directly with finance teams from other areas.

Financial management and Business Partnering

• Collaborate with business unit or function heads to determine their performance reporting needs (both financial and non-financial) and agree on deliverables annually.
• Define the format for management reports and coordinate with system developers and data providers to create these reports.
• Ensure consistent and accurate reporting ("one version of the truth") that reconciles with reports produced in other areas of the business.
• Review variance analyses prepared by the team for different business units and discuss significant cost variances with business unit heads to understand the reasons.
• Review the quality of and provide input into the Cluster Exco/ MANCO packs and liaise with RB central FDS team to provide consolidated cost reporting.
• Lead investigations into cost-saving initiatives and make comprehensive recommendations to business unit or function heads.
• Provide input and support to project/change teams during the development of business case financials for new projects or initiatives, upon request.

Financial Planning & Analysis

• Advise business unit decision-makers on the processes and requirements during the Medium Term Planning (MTP), Short-Term Planning (STP/budget planning), and Revised Annual Forecast (RAF) cycles. Ensure their commitment and thorough input for these activities and support them in translating strategy into financial objectives as needed.
• Manage and review the consolidated financial plans (Total cost ) generated by MTP, STP, and RAF, prepared by the team, and conduct quality checks on the consolidations before recommending approval to the Cluster CFO.
• Manage RB end-to end MTP, STP & RAF process for RB Transfer Pricing

People Management

• Develop internal capability by recruiting and developing a capable team to ensure the necessary resources are in place to achieve business strategy and objectives.
• Implement the people management strategy for the area, in collaboration with the HRBP for the business unit, focusing on talent management, development, resourcing, and retention.
• Embed formal Performance Development and informal coaching within the team.
• Motivate the team and implement measures to recognize and reward direct reports.
• Inspire team members through coaching and mentoring, helping them to perform optimally in alignment with the vision and values, and create a sense of urgency and excitement around the business.

Education and Experience Required

• Minimum B-degree (NQF level no.7) Desired Post Graduate Degree (NQF level no.8+), CA (SA) or CIMA or MBA qualification preferred.
• 5+ years professional financial management experience
• 5+ years Banking Experience at a management level
• Preferred team lead in Finance Function teams or in professional environments
• Experience in business transformation contexts related