Head of Finance: Transactional Banking Product

Job Purpose
To oversee a team tasked with the management and analysis of all financial operations; provide recommendations that align with Nedbank CIB strategy, enabling informed financial decision-making for the business.

Job Responsibilities

• Hold comprehensive financial accountability for Transactional Service’s products and services.
• The Head of Finance (HOF) will ensure the validity, accuracy, and completeness of financial information for all products and services.
• Monitor the daily profit and loss statements of the product and report findings to the daily P&L CIB tracker.
• Manage the processing and reporting of month-end, quarter-end, half-year, and year-end results to stakeholders, including the CFO TS and group finance.
• Review and assess ratios pertinent to profitability and returns for the products.
• Provide insights into key profitability and return drivers.
• Possess a strong comprehension of revenue drivers for the product and conduct monthly reviews and reporting on the validity, accuracy, and completeness of expenses.
• Maintain a solid understanding of expense drivers for the product and perform monthly reviews and reports concerning the validity, accuracy, and completeness of expenses.
• Exhibit a thorough understanding of capital drivers for the product and execute monthly reviews and reporting on the validity, accuracy, and completeness of expenses.
• Collaborate continuously with the business on cost-saving initiatives; establish and agree on measurement targets for cost savings and track them monthly.
• Ensure all products comply with International Financial Reporting Standards.
• Oversee daily operations to guarantee the accuracy and completeness of financial data.
• Monitor ongoing financial performance by analyzing month-end results and reporting to the business and the Group.
• Facilitate financial performance against targets by identifying deviations and recommending corrective actions or justifying variances.
• Ensure business continuity by implementing processes and systems that support all activities.
• Meet internal customer expectations to uphold service level agreements.
• Cultivate and sustain relationships with internal and external stakeholders through regular engagement.
• Participate in internal and external forums and committees to exchange and gain insights on factors affecting the business and the Group.
• Engage with the business to translate business strategy into approved financial plans and targets that comply with Group and regulatory requirements.
• Ensure compliance by managing adherence to Group Risk and Compliance policies and relevant regulatory requirements.
• Mitigate financial risks by staying informed about and aligning with changes in accounting standards, policies, and regulatory requirements.
• Plan, coordinate, and manage the team to meet deliverables.
• Enhance productivity by identifying, implementing, and supporting process enhancements.
• Achieve business objectives by making timely and informed decisions.
• Optimize efficiency and instill the correct values by ensuring direct reports understand and support Nedbank's vision, values, and strategy, and are measured on their delivery against these.

Job Responsibilities Continued

• Oversee the performance of direct reports and hold them accountable for managing the performance of their team members by implementing performance agreements, ensuring a clear vision, setting goals and objectives, providing consistent feedback on performance, recognizing and rewarding achievements, and taking appropriate corrective actions when necessary.
• Identify relevant development needs by evaluating personal performance and behavior through both formal and informal feedback mechanisms.
• Drive the execution of planned development for oneself and direct reports by engaging in learning opportunities, seeking coaching, or attending industry or technical events.
• Maintain a capable, high-performing team by identifying a talent pool through career conversations and applying talent grid principles while developing talent retention programs (e.g., rotation).
• Build depth of skills and knowledge within the managerial team by sharing insights with team members, ensuring mentoring, coaching, and overseeing day-to-day activities.
• Improve productivity and reduce costs by enhancing work processes through innovative ideas and soliciting input from managers and teams.
• Ensure that transformational targets are met by considering these targets during staff recruitment, retention, and training processes, and by utilizing suppliers from the preferred supplier list for the department.
• Contribute to a culture that fosters the achievement of transformation goals and supports business strategies that enhance corporate image by ensuring participation from oneself, managers, and the team in Nedbank culture-building initiatives.
• Deliver exceptional service through others by fostering a client-centric culture through necessary interventions.
• Identify areas of resource inefficiencies and promote optimization by encouraging multi-skilling and addressing capacity gaps through the review and improvement of work processes.

Preferred Qualification
Chartered Institute of Management Accountants (CIMA)

Preferred Certifications
Chartered Accountant

Minimum Experience Level
7 years of financial management experience in the financial services sector and 5 years in a management role.

Technical / Professional Knowledge

• Business administration and management
• Client service management
• Financial Accounting Principles
• Governance, Risk, and Controls
• Principles of project management
• Relevant regulatory knowledge
• Stakeholder management
• Strategic planning
• Talent management

Behavioural Competencies

• Building Partnerships
• Communication
• Building talent
• Guiding Team Success
• Continuous Improvement
• Driving for Results

EE Statement
Preference will be given to underrepresented groups.

For inquiries, please contact the Nedbank Recruiting Team at +27 860 555 566.