Karabo Mkhasibe

Preparation and co-ordination of month-end reporting:

Oversee the preparation, monitoring and reporting of financial performance across business, ensuring strong foundation of relevant reporting and decision-making and ensuring accuracy and timely reporting to stakeholders.

• WD3 and WD4 flashes
• Compilation of KVDs & Key metrics across PSC
• Preparation and presentation of monthly performance decks
• Cost performance reporting
• Preparation of Balanced scorecard financials
• Streamlined month-end close process through automation initiatives that increased data accuracy while reducing time spent on administrative tasks
• Enhanced and introduced internal controls/processes by implementing value add process such as the tax recon by business unit and engagement with Financial control on month end results Actuals tracking and monitoring

Preparation and co-ordination of key financial period reporting:

First line of financial support in providing key insights to internal and external audience/committees

• Co-ordination and compile half year and full year External Booklet
• Internal reporting - Group briefing notes, Internal Product Solutions Cluster investor deck
• Preparation of Finance Resource Management decks

Conduct in depth analysis:

Carry out business/financial relevant analysis to enhance and support business capability

• Margin analysis and deep dives
• Cost analysis to enable cost efficiencies where relevant
• Interrogation and review of Transfer Pricing models and implementation of new Transfer Pricing ways of work

Planning processes:

• Managed the financial RAF shape planning process, resulting in more accurate forecasting and informed decision-making
• Collaborated with senior level stakeholders and teams to develop long-term financial plans.

Stakeholder management:

• Developed strong key relationships and network (including senior leadership) across PSC to enable key processes and deliverables
• Cross collaborations with various function, inter-cluster and Group
• Mentored junior finance staff members, fostering a culture of continuous learning and professional development.

Net Interest Margin reporting and analysis:

Ensured appropriate, quality and timeous delivery of accurate financial and non-financial management information to support business objectives and expectations, including appropriate financial and non-financial metrics, valid and insightful comments and packaging the information in a relevant and appropriate manner

• Construct net interest margin reports on Home Loans products,channels,regions and segments in all the different components
• Monitoring on a monthly basis volume, value and all the Net Interest margin components.
• Analysis of the Home Loans gross loans and advances and understanding the vintages
• Analysis of margin impact on new business
• Understand the characteristics of a product and foresee that the Funding Transfer Pricing methodology ties with it.
• Query and fully understand the increase/decrease of Interest components such as Prime Linked Factor and Liquidity Premiums.
• Managing the Interest rate risk alongside Treasury team
• Margin analysis on Home Loans Product and customer propositions-enable decision-making

Finance Business Partner looking after business Product, Strategy, Sales and Risk teams:

• Providing analysis and delivering insight that links financial reports to business strategies for the business teams
• Improving the impact, and understanding, of financial reporting on business performance.
• Preparing and presenting monthly financial reports on Insurance component of the Product business.
• Preparing and presenting Monthly business Reviews (MBR) at Sales regional level.
• Providing effective commercial procedures, or initiating change, to ensure key operational, commercial and financial targets are delivered
• Building partnerships and strong relationships with all senior managers and their teams and providing financial support to commercial decision making.
• Delivering analysis and insight on business opportunities; providing options and scenarios for business decisions. For example aiding cost vs benefit and Return calculations to evaluate customer value Propositions.
• Determining cost allocations using the Absorption based costing (ABC Modeling)
• Presenting financial performance, full year forecasts and budget variances through budgeting cycles, Rolling Annual Forecasts (RAF), Short Term Plans (STP) and Medium Term Plan (MTP). including understanding financial opportunities and risk
• Challenging current ways of working, driving efficiencies and cost savings wherever possible
• Assisting with year-end audit
• Dealing with and working through issues of conflict and operational challenges with project teams and other stakeholders
• Understanding the cost drivers of the business and providing insight to the non-finance member

Month-end Accounting & Reporting:

• Prepare and submit the monthly balance sheet and income statement for submission to key stakeholders, this may be in respect of financial reports or notional views thereof validate all financial and management reporting information for WD3 flash results and month end financial results and utilisation and reporting of various key metrics (RoE, RoRWA, CTI etc.)
• Source management information and non-financial information to support the interpretation and translation of performance of key value drivers against RAF, STP and year on year.
• Prepare and process all accounting journals in accordance with the journal policy, checking that all journals have valid supporting documentation · Keep copies of all journals processed, including journals processed at the central processing department and Over The Top (OTT) journals
• Present month end results to business highlighting performance against plans, previous month, prior year and possible risks and opportunities for the year based on specific trends.
• These trends may appear in underlying business drivers or in financial data.
• Perform trend and ratio analysis and report on established patterns and behaviours with recommendations for performance improvement
• Perform analysis and make recommendations on Balance sheet optimisation Financial Planning
• Assist finance manager in developing processes and controls to ensure that the budgeting process is planned and driven and in compliance with Absa and support business strategies and that plans are submitted on a timeous basis.
• Meet with relevant stakeholders to prepare the relevant assumptions for the RAF, MTP and STP, this pertaining to forecasts and budgets
• Prepare the assumption sheet together with an interpretation thereof to support the forecasts and budgets for the BU (RAF's, MTP's and STP)
• Prepare comparative Income Statements between STP, RAF and MTP, forecasts based on historical information drawn from the financial system or Management Information reports
• Check reasonability of the forecasts against historic trends (forecast results)
• Source management information and non-financial information (from MI) to support the performance of key value drivers against RAF, STP and year on year
• Compile review pack for submission to Exco and any other relevant committee. The pack together with commentary is necessary to provide a sounds basis on which the budget is approved
• Create a methodology (including templates) which supports the translation of non-financial data into financial outcomes and ensure business colleagues understand these links
• Quarterly, Interim & Year-end reporting
• Compile briefing packs used as summary and in some instances as additional detail for the annual and half year end financial statements. The packs are utilised by senior executives as a summary for interpreting and understanding interim and annual financial statement performance
• Compile quick reference packs. An individual is required to engage with stakeholders such as Investor relations and the various business unit representatives to ascertain possible topical subjects and key financial data for the relevant period. Scope is also given to frequently asked questions by investors
• Ensure commentary in the booklet reflects the financial position as well as the drivers that gave rise to these results. Query Management
• Respond to ad hoc requests related to financial data and the translation of non- financial data to allow for insight and understanding to support key business and commercial decisions. This should include narrative around outcomes and results and appropriate messaging to business and other colleagues
• Evaluate and where necessary create business case analyses to represent financial impact and interpretation of plans, evaluate assumptions related to business cases and incorporate key risk components as part of the analyses
• Establish a methodology and in need mechanism to allow for the continued evaluation of the business case, including an assessment of the probability of success associated therewith

• Source information from different data warehouses, data marts, manual
  systems and online systems
• Collect and package data into usable and user friendly management
  information
• Develop new reports, report formats and standards based on identified user
  requirements for the business
• Analyse derived information to create value add understanding of insights and opportunities presented by the data set
• Prepare customised reports based on identified requirements from the
  business at large
• Develop regular performance reports particularly related to needs of the business sales force
• Identify opportunities to automate reports and to eliminate duplicate and manual report production
• Develop a thorough understanding of the key business challenge
• Identify opportunities through which MI can assist in addressing these challenges, present these to relevant stakeholders and implementation
• Identify business opportunities in support of the business sales initiatives
• Assist stakeholders in developing business cases for new products
• Propose approaches to the business on monitoring measures or key
  performance indicators (KPIs) associate
• Analyse trends within the business data to reduce credit related risks, optimise performance of the business and inform credit scorecard development
• Conduct integrity checks on extracted data
• Ensure the accuracy of data within the business and ensure consistent use of data
• Escalate data integrity issues to relevant Manager and ensure that these receive priority
• Check existing and new reports for accuracy and data integrity

Management Accounting Reporting for Africa Technology:

• Manage cost centers/towers on a monthly basis. This entails the preparation of management accounts on a monthly basis, variance analysis, and completing commentary on the large variance (adverse and favorable variances)
• Reallocating of project cost from income statement to project budget (Change the bank budget)
• Prepare and present monthly performance packs and variance commentary at Divisional Manco meetings and EXCO Meetings. Packs include financial, nonfinancial and headcount information
• Flash report to compare month on month spend with budget and putting measures in place if there's variances that will result in too adverse/favorable position
• Meeting with tower head and cost center managers on a monthly basis to discuss their financial position
• Have regular catch up sessions with cost center managers do discuss ‘upcoming costs' to look out for and advice if there is budget available to fund Business as usual costs
• Preparation and analysis of Accruals and journals to be processed.
• Conduct research and develop financial forecasts and indicators for business to enable effective financial decision-making and easily warning systems
• Meeting with stakeholders to kick off budget discussions, this entails projecting costs that will hit the income statement, preparing budget (Medium Term Plan and Short Term Plan) Functional planning Tool
• Track cost saving benefits for the different cost centers.

• Identified and investigated variances to financial plans and forecasts by interpreting financial results for Retail and Business Bank
• Analysed budgets, financial reports and projections for accurate reporting of financial standing
• Managed annual budget that grew at a certain % against Actual income/expenses quarterly
• Analysed and monitored Working Capital to determine the Liquidity for Retail Bank
• Reported monthly on the Key Performance Indicators for Retail and Business Bank
• Scenario Planning for different variants on a quarterly basis
• Monthly preparation, analysis and consolidation reporting of Income statement for different business areas within Retail Bank
• Monthly analysis meetings with the Chief Financial Officer of Retail Bank and the various Chief Financial Officers for each Business units (Card,Vehicle Asset Finance, Edcon, Transactional banking and Deposits)
• Synthesised financial and budgetary information to solve problems and develop alternative solutions.