Product Control Specialist, CIB Finance

This role within Liberty's Corporate and Investment Banking (CIB) Finance division calls for a dedicated specialist to ensure the accuracy and integrity of financial reporting. The successful candidate will play a crucial part in maintaining robust financial controls, contributing to both internal monthly reporting and external annual audits.

About the Role

The core of this position revolves around the meticulous reconciliation and substantiation of the balance sheet and income statement. This process is vital for the accurate financial reporting that underpins Liberty's CIB operations. Beyond the routine, the role also involves a forward-looking aspect: identifying opportunities to enhance month-end reporting processes and controls. This includes defining requirements and championing the implementation of necessary changes, often requiring collaboration with IT developers and stakeholders across various departments. A key component of the role also involves assessing the risk associated with business exposures, both on and off the balance sheet, ensuring these are managed and mitigated according to the bank's credit policies.

The responsibilities for this Product Control Specialist are varied and require a strong financial acumen coupled with an understanding of banking operations. Key duties include:

• Performing detailed reconciliations and substantiations for monthly and annual financial statements.
• Ensuring all balance sheet and income statement items are accurately reflected and supported.
• Contributing to the development and implementation of process improvements for financial reporting.
• Collaborating with IT teams to translate financial requirements into technical specifications for system enhancements.
• Communicating complex financial information clearly to non-financial colleagues.
• Evaluating and assessing the risks associated with various business activities and financial exposures.
• Working to mitigate identified risks in line with established bank policies.
• Ensuring compliance with financial regulations and internal control frameworks.

What They're Looking For

To excel in this role, candidates will need a solid foundation in finance and accounting, combined with specific experience within the banking sector. Essential qualifications and experience include:

• A postgraduate degree in Business, Commerce, Finance, or Accounting.
• Professional qualification such as CA(SA) is highly desirable.
• Between 5 to 7 years of relevant experience in product control, auditing, global markets, investment banking, or transaction banking.
• A strong understanding of how information flows from front-office systems through to the general ledger.
• Proven ability to liaise effectively with IT developers and communicate technical requirements to diverse audiences.
• Substantial banking knowledge, with a preference for candidates who have previously worked in investment banking or have exposure to derivative products.

In terms of behavioural competencies, the ideal candidate will be adept at articulating information, challenging ideas constructively, and meticulously checking details. They should be persuasive, embrace change, and demonstrate strong analytical skills in examining information and interpreting data. Effective task management, the ability to provide insightful analysis, and a goal-oriented approach are also important, alongside teamwork and a positive outlook.

Technical skills required include proficiency in financial accounting, financial analysis, financial and accounting control, reconciling financial records, and statistical and mathematical analysis.

In South Africa, roles like this within large financial institutions typically offer competitive remuneration packages, reflecting the specialised skills and experience required. Career progression often involves moving into more senior control, financial planning and analysis, or risk management roles within the CIB finance function. Employers in this space are generally well-established banks and financial services groups.

Type of Qualification: Post Graduate Degree

Field of Study: Business Commerce, Finance and Accounting

Other Minimum Qualifications, Certifications or Professional Membership: CA (SA)

Experience Required
 

5-7 years experience in Product Control/ Auditing/ Global Markets/ Investment Banking/Transaction Banking

5-7 years experience in understanding of information flow between front office systems and the general ledger. Ability to work with IT developers and communicate requirements to non-financial people.

5-7 years experience banking knowledge with preference to candidates with prior exposure to investment banking and derivative products.

Behavioural Competencies:

• Articulating Information
• Challenging Ideas
• Checking Things
• Convincing People
• Embracing Change
• Examining Information
• Interpreting Data
• Managing Tasks
• Providing Insights
• Pursuing Goals
• Team Working
• Thinking Positively

Technical Competencies:

• Financial Accounting
• Financial Analysis
• Financial and Accounting Control
• Reconciling Financial Records
• Statistical & Mathematical Analysis