Senior Specialist: Vodacom Insurance Company Finance Business Partner
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Role Purpose/Business Unit:
To ensure that key financial and business objectives of the Vodacom Insurance Company (“VIC”) are met with regards to financial reporting, budgeting and forecasting, analysis, control and regulatory reporting. Provide support to the Insurance business, manages the financial reporting, forecast process, Prudential Authority (PA) requirements and long range plan together with FinOps, business, marketing teams and managing executives. Deliver reporting for tracking of strategic objectives, expenditure by category and segment and key commercial initiatives. Full understanding of the short-term insurance cost drivers.
Your responsibilities will include:
1. Reporting
- MANCO and EXCO Financial Reports;
- SAP & HFM reports;
- Full monthly trial balance review;
- Monthly Balance Sheet & Income Statement;
- Monthly Margin/Underwriting Reports;
- Liaising with Internal & External Auditors;
- Monthly variance analysis;
- Monthly KPI/KFIs;
- Review of actuarial provisions and accounts;
- Perform detailed analysis of revenue and costs as and when necessary;
- Investment Committee presentations, report preparations & the implementation of the committee resolutions
- Ad-hoc tasks
2. Budgeting and Forecasting
- Provide analytical and financial support to the VIC team and assist with the financial aspect of forecasting and budgeting;
- Maintain rolling forecasts of the income statement and balance sheet, updated for actual results and expected future business actions;
- Financial modelling in support of forecasting and budgeting and capex benefit quantification;
- Create budget presentations to explain budgets and strategic objectives embedded therein, including zero-based opex budgets.
- Assist with the Long Range Plan budgets
- ROCE analysis for capital expenditures/budgets
- Ad-hoc forecasting and budgeting activities
3. Cash flow
- Assist with Treasury requirements to ensure investments maintained within SCR and PA guidelines
- Provisions for payments;
- prepare reports for the Investment Committee and Board reports
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4. Business Support and Statutory requirements
- PA Quarterly and Annual Returns;
- Tax Department support on Insurance returns;
- Support Actuaries with product development and pricing;
- IFRS17 and general IFRS compliance;
- Risk identification and control implementation on all financial processes within the Insurance division.
5. Control and Governance
- Maintain an effective operational control environment over financial items, identifying weaknesses and development and implementation of solutions.
- Ensure business decisions are implemented and executed within the approved and accepted governance framework.
6. Operational Support
- Manage interface, delivery and reporting deadlines & requirements from Financial Operations for month ends, various forecasts, presentations and commentary;
- Assist with Financial Models developments
7. Capex
- Understanding, monitoring and analysis of the capex budget and capex spend;
- Assist with reporting and cash flow requirements;
- Review of capex spend and challenge spend.
8. Other
- Understanding of the Planning Tool and the submission of budgets and forecasts on this platform;
- Assist with business cases and ensure proper process is adhered to;
- Perform ad-hoc tasks and projects relating to Finance and/or Commercial issues.
The ideal candidate for this role will have:
- Bachelor of Commerce degree – essential
- Minimum 3-5 years financial experience - essential
- Insurance industry knowledge - essential
- Previous ICT (Information and Communications Technology) industries experience an advantage.
Technical / Professional Expertise
- Finance experience gained in large, multi-national organization.
- Financial analysis & interpretation.
- Report writing.
- Understanding of systems and integration thereof into ERP.
- Business planning.
- Performance Monitoring.
- Understanding of accounting processes.
- Risk Assessment & Controls.
- Advanced skills in Excel, Word and PowerPoint .
- Presentation skills.
- Advanced ERP skills.
- Experience in financial and business analysis.
- Data extraction, transformation & manipulation skills.
- SAP and HFM
- Oracle Planning Tool
Competency / Performance Drivers
- External perspective and appreciation of macro-economic environment.
- Business leadership and transformation.
- Adaptability.
- Time Management.
- Relationship Management.
- Diversity Management.
- Business & Commercial Acumen.
- Strong analytical skills.
- Problem solving.
- Effective communication and influencing skills.
- Resilience.
- Ownership and drive for impact.
- Attention to detail & Quality conscious.
- Planning and Organising.
- Disciplined & Deadline driven.
We make an impact by offering:
- Enticing incentive programs and competitive benefit packages
- Retirement funds, risk benefits, and medical aid benefits
- Cell phone and data benefits, advantages fiber connection discounts, and exclusive staff discounts offered in collaboration with partner companies
Closing date for Applications: 10 May 2024.
The base location for this role is Vodacom Midrand Campus.
The company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
Vodacom is committed to an organisational culture that recognises, appreciates and values diversity & inclusion.