Consolidation IFRS Specialist needed at Industrial Development Corporation

Qualifications 

• Bachelor’s degree in finance /accounting or equivalent CA(SA) – Mandatory

Experience:

• 5-8 Years’ experience in finance or finance operations related roles.
• 3-5 Years’ experience in performing Group Consolidations function of a large company.
• Experience in a managerial position (preferable).
• Experience in accounting for complex consolidations in a multinational environment.
• Industry experience from financial services/Lending/Banking would be advantageous.
• Good understanding of the functioning of the SAP system and consolidation systems.
• Strong IFRS 10 and IAS 28 experience required.
• Understanding of financial analysis and the ability to prepare management reports.
• Sound financial Excel Modelling Skills, Microsoft Office inclusive of Word and PowerPoint
• Proficient in Microsoft Excel and Word.

Roles and Responsibilities

• Review and guide the group financial reporting processes.
• Design and implement group wide reporting controls and templates required for the execution of financial consolidation.
• Preparation of the group consolidation in compliance with the group reporting policies, procedures, and templates.
• Continuously provide input into the improvement of the group reporting policies, procedures, templates and the efficiency of the consolidation preparation processes.
• Perform the group consolidation for monthly, quarterly, and annual financial performance.
• Process the relevant approved year-end adjustments key to the consolidation performance.
• Manage the overall process for the preparation and consolidation of monthly, quarterly, and annual financial results.
• In liaison with Client Support and Growth (CSG), identify and maintain a record of investments that meet the requirements of consolidation.
• Implement controls to ensure that the list of investments to be consolidated is complete at any point in time on the consolidation platform.
• Monthly review and reconciliation of ZPR (SAP client depository) to ensure alignment of the investments list across the various business areas, i.e., completeness and accuracy to the trial balance.
• In liaison with Technical Finance, ensure the accuracy of the classification and measurement of the investments.
• Responsibility for the development and update of intercompany policies and procedures.
• Define and identify the nature of intercompany transactions and account types specific to the IDC reporting environment for intercompany transaction elimination purposes.
• Ensure the group consolidation process is in compliance with IFRS requirements.
• Keep abreast of latest developments in IFRS and integrate these into group accounting policies and procedures.
• Prepare monthly, quarterly, and annual internal consolidation financial reports to key IDC committees.
• Participate, provide input and support in the audit preparation process and during the performance of the external audit.
• Support the financial reporting team with the preparation of any internal financial reports, as applicable.
• Contribute to the preparation of external financial reports to external stakeholders.
• Assist with ad-hoc Financial Management department initiatives and projects.
• Create and maintain a good relationship with internal and external stakeholders.
• Provide coaching and training to the financial reporting team as and when necessary.
• Support and drive Innovation of the IDC group consolidation process.
• Participation in key meetings as per nomination.

Job Requirements

FUNCTIONAL KNOWLEDGE

• Financial Consolidation
• Consolidation systems
• Financial accounting
• Period end & Closing
• IFRS (International Financial Reporting Standards)
• JSE Listing Requirements
• Corporate Governance – King IV