Technical Assurance Head, CIB Finance

In the dynamic world of financial services, robust assurance and stringent financial control are paramount. Liberty, a prominent player in the South African financial landscape, is seeking a highly experienced and technically adept individual to lead its assurance efforts within the Corporate and Investment Banking (CIB) Finance division. This crucial role is designed to ensure the integrity of the CIB balance sheet and income statement across the Standard Bank Group's South African and African operations.

The primary objective of this position is to uphold continuous financial control, acting as a bulwark against potential financial misstatements. Mandated by the Group Audit Committee, this role is instrumental in ensuring proactive compliance with International Financial Reporting Standards (IFRS). By bridging the gap between complex IFRS advisory and its practical, operational implementation, the successful candidate will safeguard the Group's reputation and financial stability. This is a senior position demanding a deep understanding of both the theoretical underpinnings of financial reporting and the practical realities of its application within a large, sophisticated banking environment.

About the Role

This is a senior assurance role with a significant focus on technical accounting and IFRS. The Head of Technical Assurance will be responsible for providing an independent and objective assessment of financial controls and processes within the CIB Finance function. This involves ensuring that all financial reporting adheres to IFRS, identifying and mitigating risks associated with financial transactions, and working collaboratively with various stakeholders to embed best practices. The role requires a proactive approach to identifying potential issues before they materialise into audit findings or restatements, thereby contributing to the overall financial health and credibility of the Standard Bank Group.

The scope of responsibilities extends to ensuring that the financial control environment is robust and effective, particularly in relation to the complex transactions and financial products common in the Corporate and Investment Banking sector. A key aspect of this role is the ability to interpret and apply IFRS standards to novel or complex scenarios, ensuring that the operationalisation of these standards is both compliant and practical.

The responsibilities for this demanding role are multifaceted and require a blend of technical expertise and strong interpersonal skills. Key duties include:

• Providing continuous financial control and assurance for the CIB balance sheet and income statement across the Standard Bank Group's South African and African regions.
• Ensuring proactive IFRS compliance, thereby preventing financial misstatements, audit findings, and restatements.
• Acting as a key liaison between IFRS advisory teams and operational finance teams, facilitating the smooth implementation of accounting standards.
• Evaluating the effectiveness of risk management practices and internal controls within the CIB Finance environment.
• Conducting in-depth financial analysis and interpreting complex financial statements to identify potential areas of concern.
• Maintaining high professional standards in internal auditing and financial reporting practices.
• Developing and implementing remedial actions to address any control weaknesses or compliance gaps.
• Promoting good governance, risk management, and control principles throughout the organisation.
• Collaborating effectively with internal and external auditors, as well as other key stakeholders, to ensure alignment and facilitate efficient assurance processes.
• Staying abreast of evolving IFRS standards and regulatory requirements relevant to the banking sector.

What They're Looking For

To excel in this role, candidates will need a substantial track record in technical accounting, IFRS, and assurance within the Corporate and Investment Banking sector. Essential qualifications and experience include:

• A postgraduate degree in Finance and Accounting, Mathematical Sciences, or Quantitative Studies.
• Professional designation such as CA(SA), CFA, or FRM is highly desirable.
• A minimum of 5-7 years of operational finance experience, with specific exposure to product control and internal financial control.
• A comprehensive understanding of financial systems and data flows, from source systems through to the general ledger.
• Completion of articles at a reputable public practice audit firm, demonstrating a strong grasp of audit methodologies, regulatory expectations (IRBA), and engagement with external auditors.
• Over 10 years of senior-level experience specifically in technical accounting and IFRS within the CIB sector of a large financial institution.
• A proven history of success in a similar assurance or high-level technical accounting capacity.
• Significant exposure to complex financial products and global markets.
• Demonstrated expertise in the practical application and operationalisation of IFRS standards within a banking context, with a particular focus on CIB transactions.
• Strong behavioural competencies, including the ability to adopt practical approaches, articulate information clearly, check details meticulously, develop expertise, examine information thoroughly, follow procedures diligently, interact effectively with colleagues, interpret data accurately, make sound decisions, meet deadlines, provide insightful analysis, and uphold high professional standards.

This role offers a challenging yet rewarding opportunity for a seasoned finance professional looking to make a significant impact within a leading financial institution. The ability to navigate complex financial regulations and contribute to the integrity of financial reporting is key. In South Africa, roles of this seniority in technical accounting and assurance within large banking groups typically command competitive remuneration packages, reflecting the specialized skills and extensive experience required. Progression often leads to broader financial leadership roles or deeper specialisation in financial risk and regulation.

Type of Qualification: Post Graduate Degree
Field of Study: Finance and Accounting, Mathematical Sciences, Quantitative Studies
Licenses & Certifications: CA (SA) / CFA / FRM 

Experience Required

5-7 years operational finance experience, encompassing elements of product control and internal financial control, with a deep understanding of financial systems and data flows from source systems to the ledger. Completed articles within a reputable public practice audit firm, providing a comprehensive understanding of audit methodologies, regulatory expectations (IRBA), and engagement with external auditors.

More than 10 years senior-level experience in technical accounting and IFRS within the Corporate and Investment Banking (CIB) sector of a large financial institution. Proven track record in a similar assurance or high-level technical accounting role, with significant exposure to complex financial products and global markets. Demonstrated expertise in the practical application and operationalisation of IFRS standards in a banking environment - CIB transactions.