Finance Business Partner: Balance Sheet and Operation Expense Management

Manage Opex reporting process, ensuring that all month-end journals are processed to correct GL accounts and cost center.

Communicate Opex monthly results to cost center managers and attend to queries flowing from EVR discussion.

Overall Opex management - budget and forecast management for support areas.

Balance sheet management - managing the balance sheet process, ensuring all balance sheet accounts are reconciled, and reconciliation queries are followed up and cleared timeously.

Provide effective Balance Sheet risk management to ensure that write-offs that result in financial losses are prevented.

Collaborate with the broader finance community to set up Balance Sheet milestones and standard operating processes.

Effective provision process ensuring that debtors' (receivables) loans are adequately provided for

Provide input in setting up BEE targets for BU and monitor BEE targets.

Key Responsibilities

Opex Portfolio

• Quality of financial accounting records as well as quality and timing of monthly results, ensuring that meaningful commentary is provided on month-end results
• Manage allocation of operational expenses from cost centers to profit centers
• Maintain opex allocation basis
• Own and maintain opex allocation basis
• Provide strategic support to exco members in managing operational expenses, ensuring that cost savings initiatives are identified and planned savings are achieved.
• Tracking delivery of committed cost savings per cost center
• Report on acquisition and renewal unit cost per policy
• Maintain fixed asset register and provide feedback on the asset that needs to be capitalized or retired.
• Manage forecast and budget process for support areas, ensuring that Budget and forecast are completed within the agreed timelines. Communicate results of Opex expenses with cost center owners and a ??
• Maintain Delegation of Authority (DOA) and update all changes that occurred to ensure that payments are made on time
• Manage inter-departmental expense recoveries and Opex allocation process and obtain approval from receiving and transferring cost center managers.
• Follow up on EVR queries and resolve them before the end of the new reporting month.
• Support cost center owners with invoice allocations
• Manage and track asset license usage between departments
• PO verification, ensuring that POs are created in the correct cost centers and GL code
• Own IFRS17 opex allocation model and coordinate delivery with actuarial team
• Maintain IFRS17 driver tables in TM1.
  
  

Balance Sheet Management

• Monitor and enforce adequate controls on Balance Sheet accounts for Life Solutions and communicate outcomes of Balance Sheet review to heads of finance departments.
• Establish Balance Sheet standard operating processes and consistently apply balance sheet controls across different finance teams.
• Alignment of balance sheet accounts across performance cells, ensuring consistent use of GL balance sheet accounts.
• Ensure consistent and effective provision for non-recoverable receivables is implemented promptly and that timely follow-up is done on outstanding recoverable.
  
  

Reporting

• Produce accurate, timing, insightful consolidated reporting to Group and Life Solutions Exco - Income Statement, Balance Sheet and Cashflow reporting
• Compile CAM Report
• Credit committee pack consolidation
• Own compilation of performance dashboard
  
  

Coordination

• Central point for management of GIA findings/interaction
• Central point for management of External audit process and remediation of findings
• Central point for management of RACMs/IFC
• Ownership of accounting policies held withing the BU and liaison with Group-on-Group policies