General Manager Finance - Head Office - KZN at Al Baraka Bank South Africa

- Al Baraka Bank, registered in South Africa since 1989, pioneered Islamic banking in this country in response to an identified need for a system of banking which adhered to Islamic economic principles. The bank, with its Head Office in Durban and a strategically located national branch network, is South Africas only fully-fledged Islamic bank and is a subs... General Manager Finance - Head Office - KZN ------------------------------------------- * Job Type Full Time * Qualification Professional Certificate * Experience 5 years * Location KwaZulu-Natal * Job Field Banking  , Finance / Accounting / Audit CORE PURPOSE OF THE JOB * To formulate and incorporate the strategy for the finance division to optimize productivity and contain costs and ensure that the finance strategy is aligned to the banks strategic objectives. Strategy * Formulates the strategy for the Finance Division to optimize productivity and contain costs and ensures that this is aligned with the bank’s strategic objectives. * Reviews the banks income and expenditure with a view to formulating recommendations to improve the banks overall performance. * Ensures that the strategic objectives for the finance division are implemented within the agreed time frame. Compliance * Keeps abreast of new developments within the banking industry to ensure compliance from a financial management and reporting point of view. * Remains fully conversant with the requirements of the Banks Act, its regulations and the Companies Act. * Keeps up to date with international financial reporting standards (IFRS) and ensures compliance by the Bank. * Advises the FD and Executive Management on the impact on the Bank of proposed and actual legislative changes more particularly relating to the banking, company and taxation discipline. Special Projects * Undertakes and/or manages special projects and/or assignments as may be requested by the FD from time to time. * Remains fully conversant with the Basel llI framework and reporting requirements in respect of the Banks Act and regulations. Reporting * Oversees and reviews the preparation of Reserve Bank Returns and ensures that they are submitted according to deadlines. * Establishes relationships with external institutions to formulate and innovate Shariah compliant investment opportunities to maximize the bank’s revenue from surplus funds on hand. * Ensures that internal controls are appropriate for the financial division and that procedural manuals are always up to date. * Ensures that all reconciliations are kept up to date and that all reconcilable amounts are addressed regularly. * Oversees the preparation of appropriate models and schedules to enable management and the Board to access the adequacy of the bank’s existing capital as well as its projected capital structure. * Ensures that appropriate cost allocation processes are monitored. * Critically reviews the monthly management accounts for reasonableness and identifies reasons for variance to business unit level. Budgets * Provides guidance and direction with respect to the bank’s budget and 5 year forecast, ensuring the budget and 5-year forecasts are prepared within the groups time frames and submitted to Executive Management for review prior to submission to the Group and the Board. * Plays an active role in the bank’s strategic planning process. * Ensures that the banks internal capital adequacy assessment process is appropriately managed; maintained and reported on. Treasury Management * Oversees the bank’s treasury management function to ensure it is appropriately managed in all aspects. * Indentifies and evaluates financial institutions for purposes of establishing exposure limits. * Evaluates investment commitments to ensure that the best possible returns are achieved. * Reviews the bank’s investments on an ongoing basis. * Ensures the development, implementation and review of a sound treasury risk management methodology. Financial Management * Attends to all taxation matters pertaining to the South African Group including tax management and planning. * Provides guidance to Executive Management with regard to growth and income targets for the budget exercise. * Ensures that a 12 month rolling budgeting system is implemented and maintained. * Co-ordinates and oversees the preparation of interim and year – end financial statements in conformity with IFRS. * Co-ordinates and oversees the preparation of monthly, quarterly and year-end reporting packs according to the time-frames and requirements of the bank’s holding company. * Ensures that the Financial Sector Charter (FSC) reporting requirements are adhered to. * Co-ordinates and liaises with the bank’s external auditors to ensure proper planning and execution of the bank’s audit requirements. * Attends Executive Committee Meetings; namely: ALCO; EXCO; Board; and Management Risk Committee Meetings. * Participates and contributes towards any issues reviewed at these meetings. * Co-ordinates, oversees and reviews the preparation of management and monitoring reports as may be required by ALCO, EXCO, the Board and Board Committee. * Attends any other meetings that may be required by the FD or CE from time to time. * Evaluates and improves, where required, the overall effectiveness of the accounting function and system. * Maintain and enhance profit distribution model, including managing the timely loading of the weekly profit rates. * Ensures all finance related activities relating to the property company is maintained and meet all required reporting standards. Requirements QUALIFICATIONS * CA(SA) or similar relevant qualification PREFERRED EXPERIENCE * Microsoft Office products with specific reference to Advanced Excel * Exposure to Reserve Bank Returns * Knowledge of Basel III requirements * Knowledge of IFRS standards * At least 5 years previous banking experience KNOWLEDGE * Financial Management * Taxation * Budgeting and forecasting * Liquidity and treasury management * Financial modelling * Systems and technology * Banking operations * Project management * People management Check how your CV matches this job Method of Application ------------------------- Interested and qualified? Go to Al Baraka Bank South Africa on albaraka.mcidirecthire.com to apply Build your CV for free. Download in different templates.