Prenola Govender

As a Finance Business Partner at Rand Merchant Bank and FirstRand Corporate Centre (Group), I have successfully managed portfolios worth over ZAR 500 million, delivering strategic financial insights. My expertise lies in providing critical financial analysis and support to Function Heads, Group Finance Heads, and RMB Finance Heads, enabling informed decision-making and strategic planning.

Key Achievements:

• Strategic Financial Analysis: Provided critical financial analysis and insights that guided strategic decision-making, resulting in improved financial performance and alignment with business objectives.
• Customized Reporting: Developed and presented tailored financial reports for Business Unit Heads, ensuring timely stakeholder and finance approvals. This proactive approach addressed the specific needs of diverse areas, enhancing decision-making processes.
• Cross-Functional Collaboration: Successfully executed projects across RMB, FirstRand Corporate Centre, and Group, consolidating functional views of costs for Compliance, Legal, Risk, Credit, and Human Capital. Engaged with all levels of the organization, across franchises and jurisdictions, to drive comprehensive financial solutions.

Responsibilities:

• Financial Performance Management: Owned and tracked financial performance, providing accurate forecasting and analysis to guide decision-making for Head Office Business Units (Risk, Compliance, Credit, Human Capital, Group Internal Audit).
• Executive Reporting: Prepared and presented monthly management reports to Executive teams, delivering relevant information and detailed commentary on variances, supported by GL breakdowns and other schedules.
• Budget and Forecast Ownership: Led the creation and ownership of Business Unit budgets and forecasts on a monthly, quarterly, and annual basis. Planned business unit strategy, budget drivers, income statements, balance sheets, and headcount FTEs.
• Performance Analysis: Provided insights and control over targets, actual performance measures, and information management. Simplified processes and automated tasks to ensure accurate forecasting and delivery of results across the full Profit and Loss.
• Business Intelligence: Enhanced business decisions by providing reliable business intelligence and analyzing trends and data.
• Operational Strategy Development: Contributed to the development of tactical strategies and implemented supporting operational strategies.
• Management Accounting Leadership: Led management accounting activities, including variance analysis, maintenance, and reconciliation of general ledger accounts.
• Month-End Close Management: Oversaw management accounting close activities, including month-end close, FTE headcount monitoring, journal entries, and monthly reporting presentations to Executives.
• Expenditure Control: Identified process improvements to control expenditure and minimize wastage.
• Compliance Assurance: Ensured compliance with relevant statutory, legislative, policy, and governance requirements.
• Technology Enablement: Researched and consulted on improvements and opportunities to harness technology and platform enablement.
• Customer Service Excellence: Created solutions to meet customer demands, delivering internal and external customer service excellence through adherence to quality service standards.
• Collaborative Work Relationships: Built strong working relationships across teams and functional lines to enhance work delivery, collaboration, and innovation.
• Cost Recoveries Management: Effectively managed the cost recoveries process and cost charge-out according to agreed SLA terms, ensuring accurate reporting of PBT.

Leadership Skills:

• Indirect Leadership: Demonstrated strong leadership skills by effectively managing indirect reports and fostering a collaborative environment. I have demonstrated strong leadership skills by successfully collaborating with contractors to secure permanent appointments and upskilling trainee staff to ensure their permanent employment and foster a positive work ethos.

I was responsible for delivering comprehensive financial and management reporting, budgeting, and forecasting within my portfolio in Corporate and Investment Banking (CIB). My role involved performing detailed financial analysis, planning, reporting, and reconciliations with precision and timeliness. I continuously strive to enhance operational efficiency by scaling automated financial processes, conducting in-depth trend analyses, and developing financial solutions that align with business controls, financial health, and growth objectives. My primary goal is to equip finance and business leadership with accurate and insightful financial information to support informed decision-making at all levels.

Assistant Vice President (Promoted in 2018)

• Led a team of junior staff, providing mentorship and fostering a high-performance culture to ensure the effective and accurate administration of finance processes within Corporate, Investment Banking, and Treasury.
• Collaborated with senior management to deliver professional and high-quality services, enhancing operational efficiency and customer satisfaction.
• Spearheaded continuous process improvement initiatives, resulting in a reduction in cycle times and an increase in productivity.
• Implemented new and enhanced processes, working closely with Process Owners and Process Architects to identify and mitigate activity-specific risks.
• Automated repetitive tasks through strategic engagement with technical partners, achieving significant time and resource savings.
• Monitored and maintained awareness of interdependent activities, ensuring seamless integration and alignment with overall business objectives.
• Recommended and executed improvements that created capacity, improved process reliability, and elevated customer satisfaction.

Responsible for the end-to-end processing of financial data for Wealth and Investment Management (WIMI).

Key Accountabilities:

• Managed the end-to-end processing of financial data for Wealth and Investment Management, ensuring accuracy and efficiency in all transactions, projects, and tasks.
• Led day-to-day support activities, overseeing the execution of deliverables and ensuring timely preparation and accuracy of reconciliations.
• Supervised junior staff in identifying and resolving issues related to general ledger reconciliations, fostering a problem-solving culture.
• Directed the preparation and review of monthly VAT and tax reconciliations, ensuring compliance with accounting standards and regulatory requirements.
• Resolved complex business and accounting queries, providing expert guidance and support to staff.
• Reviewed and authorized monthly accounting entries and month-end processing, ensuring accuracy and completeness.
• Addressed unresolved queries from junior staff, driving them to resolution and maintaining high standards of service delivery.
• Reported and substantiated financial records to management, delivering comprehensive and accurate management reports.
• Prepared for annual financial audits, escalating and resolving irregularities to ensure smooth audit processes.
• Analyzed and identified gaps within processes, procedures, and efficiencies, recommending and implementing improvements.
• Adhered to industry business processes and control practices relevant in South Africa, ensuring compliance with Group policies.
• Ensured proper conduct in daily activities, maintaining adherence to accounting reporting standards, compliance requirements, and industry legislations.
• Balanced workloads within teams, ensuring satisfactory service delivery and equitable distribution of tasks.
• Maintained compliance to policies, legislation, and regulations, ensuring all staff completed compliance training and attestations.
• Prepared Annual Financial Statements based on financial records, engaging with senior management and auditors to ensure timely approval and sign-off.

Successfully completed the key competencies mandated by the South African Institute of Chartered Accountants (SAICA), thereby developing a robust set of technical accounting and financial skills essential for navigating today's complex and evolving business landscape.

Demonstrated commitment to delivering high-quality work through the consistent application of comprehensive knowledge in accounting, auditing, tax, and financial management theory. This expertise was utilized in the execution and completion of audit and financial accounting services across various companies.

Key Industries:

• Events
• Steel
• Property Companies
• Trusts
• Manufacturing
• Travel Agency

Completion of my key competencies as required by the South African Institute of Chartered Accountants(SAICA), in doing so build a strong set of technical accounting and financial skills required to navigate today’s complex and evolving business environment.

In doing so I committed towards delivering high quality work during daily application of entrenched understanding of accounting, auditing, tax and financial management theory during the execution and completion of Audit and Financial accounting services within companies.

Key Industries:

Auditor General Work Experience (Departments and private companies)

Retail outlets

Manufacturing firms

Property Companies

Metal industry

Film production industry

School audit