Financial Manager - HNW Segment

Job Requisition - 137735 Closing Date - 05 February 2025 Location - Johannesburg Cluster - Nedbank Wealth - Wealth Management SA Business Unit Please Note: Preference will be given to applicants from Underrepresented Groups

Job Family

Finance Accounting Manage Others

FAIS Affected

Job Purpose

The Finance Manager will be responsible for managing the financial performance of the Nedgroup private wealth Investment Business unit (BU), ensuring accurate financial reporting, and maintaining strong relationships with stakeholders. This role requires a deep understanding of financial management, accounting principles, and regulatory compliance.

Job Responsibilities

• Manage the headline earnings, non-interest revenue, and cost to income ratio.
• Regular engagement on headline earnings (HE), cost containment with business to gain insights to impact numbers towards targets.
• Provide meaningful commentary explaining monthly performance and variances to budget and prior year.

Accounting:

• Maintain accurate and complete financial records by correctly accounting for transactions in line with IFRS, SARS, and compliance rules.
• Ensure timely and accurate preparation of annual financial statements (AFS).

Reporting:

• Report BU financial information throughout all reporting periods, including monthly, interim, and year-end.
• Ensure all journals are captured before ledger close-off and numbers are ready for flash reporting.
• Prepare manco slides monthly with sufficient commentary to add value to the business.
• Develop a robust three-year plan, Q0, and forecasting that aligns with expectations.

Financial Business partnering:

• Monthly engagement with key stakeholders (Regional heads, head of product, investment specialist, etc.) on performance.
• Monitor key KPIs for each stakeholder and report to the business.
• Maintain segmental reporting and hold stakeholders accountable for performance.
• Review BU balance sheets to ensure accuracy and clear reconciling items.
• Maintain current balances to minimize financial errors.
• Ensure commercial needs are IFRS compliant at all times.
• Improve the control environment through review processes.
• Provide ongoing support to the Senior Finance Manager, ensuring that Finance is the trusted financial partner.

Profitability:

• Identify and address any revenue leakages for the BU.
• Track wealth managers profitability in practice compared to employment model.

Monthly Forecasting:

• Monthly update of the rolling forecast (actuals + forecast) and provide commentary on savings or overspending.
• Engage with BUs to assess whether reforecasting of the budget should be actioned.

Knowledge/Skills Transfer and Succession Planning:

• Develop capable support to Finance Officers within the team to grow into more senior roles within the BU and Division.

Standard Operating Procedures:

• Ensure all finance processes are clearly documented to facilitate skill transfer among team members and ensure business continuity.

Staff Management:

• Conduct goal contracts, career development plans, and performance reviews on a timely basis.
• Resolve any team conflicts and provide opportunities for training and skill advancement.

People Specification

Essential Qualifications - NQF Level

• Professional Qualifications/Honour’s Degree.
• Bachelor's degree Honours in Finance, Accounting, or a related field.
• Professional accounting qualification: Chartered accountant.

Minimum Experience Level

• Minimum of 2 years of experience in a senior finance role.
• Strong knowledge of IFRS, SARS, and compliance rules.
• Proficiency in financial reporting and analysis.
• Excellent communication and stakeholder management skills.
• Experience with financial planning and forecasting.
• Proficiency in financial software and tools (e.g., PowerBI).

Technical / Professional Knowledge

• Banking procedures.
• Business principles.
• Business writing.
• Cluster specific operations.
• Governance, Risk and Controls.
• Principles of financial management.
• Relevant regulatory knowledge.
• Relevant software and systems knowledge.
• Research methodology.
• Decision-making process.
• Communication.
• Work Standards.
• Managing Work.
• Technical/Professional Knowledge and Skills.

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