Revenue Assurance Manager ( MT3)- Finance Department
Listing reference: capbw_001673
Listing status: Closed
Apply by: 20 June 2024
Position summary
Industry: Banking
Job category: Credit Analysis and Risk Management
Location: Windhoek
Contract: Permanent
EE position: No
Introduction
The purpose of this role is to ensure that all products and services provided by Bank Windhoek to customers are correctly billed as per agreement with customers and as communicated to the regulator, by ensuring integrity and accuracy across banking platforms and systems. This role is responsible for overseeing the effective and efficient execution of the Revenue Assurance function as well as the provision of support and guidance to the Revenue Assurance Analyst with regards to the revenue assurance processes within the Bank.
Job description
2.1 Detection
• Ensure that the recovery of revenue remains compliant to the changes of organizational policies, financial services regulations, and market conditions.
• Ensure a revenue assurance investigation is carried out to identify the root cause of an instance of revenue leakage.
• Monitor data on all revenue streams for anomalies. Investigate instances of anomalies detected in data and identify underlying causes. Document instances of revenue leakage with their associated root cause.
• Supervise the testing of material business processes from a Revenue Assurance perspective and validate new products and new systems for implementation as part of the migration.
• Develop and fully implement Revenue Assurance strategy. Develop processes and procedures as well as implement structures for the Revenue Assurance function.
• Manage potential areas of risk feedback identified by the Revenue Assurance Analyst and assist branches with the recovery of identified revenue leakage.
• Participate in the product/campaign development process to identify potential revenue losses. Provide pre- and post- implementation evaluations of new and existing products to assess and remediate possible revenue leakage risk.
• Review business processes and perform risk assessments to identify and prioritize high risk areas related to revenue leakage and suggest alternative manners of recovery.
• Report all relevant information to stakeholders for decision making. This includes the provision of financial/quantitative data, as well as non-financial information, to enable effective management decision making. Ensure reports are prepared and distributed in a timely manner.
• Assist with the development and integration of the pricing engine.
• Ensure that the recovery of revenue remains compliant to the changes of organizational policies, financial services regulations, and market conditions.
• Ensure a revenue assurance investigation is carried out to identify the root cause of an instance of revenue leakage.
• Monitor data on all revenue streams for anomalies. Investigate instances of anomalies detected in data and identify underlying causes. Document instances of revenue leakage with their associated root cause.
• Supervise the testing of material business processes from a Revenue Assurance perspective and validate new products and new systems for implementation as part of the migration.
• Develop and fully implement Revenue Assurance strategy. Develop processes and procedures as well as implement structures for the Revenue Assurance function.
• Manage potential areas of risk feedback identified by the Revenue Assurance Analyst and assist branches with the recovery of identified revenue leakage.
• Participate in the product/campaign development process to identify potential revenue losses. Provide pre- and post- implementation evaluations of new and existing products to assess and remediate possible revenue leakage risk.
• Review business processes and perform risk assessments to identify and prioritize high risk areas related to revenue leakage and suggest alternative manners of recovery.
• Report all relevant information to stakeholders for decision making. This includes the provision of financial/quantitative data, as well as non-financial information, to enable effective management decision making. Ensure reports are prepared and distributed in a timely manner.
• Assist with the development and integration of the pricing engine.
2.2 Correction and Prevention
• Modifying business activities to prevent revenue leakage in the process.
• Using the fees and charges guide as basis to recalculate the fee income with the revenue leakage cube/pricing engine and compare it to the fee income recorded on the phoenix/pricing engine.
• Where possible, assist IT with the information to centrally recover revenue leakage via scripts.
• Identify fees and charges which are incorrectly calculated on phoenix/pricing engine for IT to correct it on Phoenix.
• Assist with user acceptance testing when the revenue leakage cube/pricing engine is enhanced with new developments.
• Automation of fees and charges charging methods to reduce instances of manual charges.
• Ensuring that the revenue leakage cube/pricing engine correctly calculates the relevant fees and charges.
• Assist with the documentation of the processes and calculations used in the revenue leakage cube/pricing engine.
• Assist with the testing of new and revised fees and charges to ensure that it was correctly implemented.
• Monitor data sync checks of data between various systems to provide a consistent view of data.
• Ensure correction of identified root causes of revenue leakage instances based on feasibility.
• Assist with the management and development of controls related to revenue and receivables process.
• Perform integrity and synchronization checks to ensure the integrity and accurate integration of the systems and processes.
• Develop targets to improve Revenue Assurance in identified areas.
• Modifying business activities to prevent revenue leakage in the process.
• Using the fees and charges guide as basis to recalculate the fee income with the revenue leakage cube/pricing engine and compare it to the fee income recorded on the phoenix/pricing engine.
• Where possible, assist IT with the information to centrally recover revenue leakage via scripts.
• Identify fees and charges which are incorrectly calculated on phoenix/pricing engine for IT to correct it on Phoenix.
• Assist with user acceptance testing when the revenue leakage cube/pricing engine is enhanced with new developments.
• Automation of fees and charges charging methods to reduce instances of manual charges.
• Ensuring that the revenue leakage cube/pricing engine correctly calculates the relevant fees and charges.
• Assist with the documentation of the processes and calculations used in the revenue leakage cube/pricing engine.
• Assist with the testing of new and revised fees and charges to ensure that it was correctly implemented.
• Monitor data sync checks of data between various systems to provide a consistent view of data.
• Ensure correction of identified root causes of revenue leakage instances based on feasibility.
• Assist with the management and development of controls related to revenue and receivables process.
• Perform integrity and synchronization checks to ensure the integrity and accurate integration of the systems and processes.
• Develop targets to improve Revenue Assurance in identified areas.
2.3. Financial Planning and Budgeting
• Assist with the consolidation and preparation of the annual budgets, revised estimates and rolling financial forecasts for the bank and its subsidiaries.
• Assists with the application of financial models to perform “what if” forecasting scenarios and financial options based on changing variables.
• Assists with the ongoing measuring and monitoring of actuals against budget to assess progress and to identify problem / risk areas and / or growth opportunities.
2.4. Special Projects
• Prepare analyses and recommendations to influence pricing structures to improve margins and revenue streams.
• Ensure that feedback on financial queries received from internal stakeholders is provided in a timely manner.
• Assist with the preparation and interpretation of viability studies to assist management on special requests upon request.• Conduct research and analysis for investigations in the asset and liability management space.
• Prepare analyses and recommendations to influence pricing structures to improve margins and revenue streams.
• Ensure that feedback on financial queries received from internal stakeholders is provided in a timely manner.
• Assist with the preparation and interpretation of viability studies to assist management on special requests upon request.• Conduct research and analysis for investigations in the asset and liability management space.
2.5. Personnel Management
• Manage the team to ensure that work standards and quality work output targets are achieved and maintained.
• Establish clear and consistent work measures for the team.
• Manage the performance contribution of staff against clear and established measures/ targets.
• Recognise and reward outstanding performance.
• Identify and manage poor performance (in line with the poor performance code) providing an opportunity for corrective steps to be taken to rehabilitate performance.
• Proactively share knowledge, coach, and mentor the team.
• Identify strengths and weaknesses and provide staff with the appropriate training to improve skills. Ensure that formal and on-the-job training is effectively planned and conducted to ensure that sufficient expertise is available to deal with the work.
• Actively build and encourage collaborative team relationships to help accomplish team goals.
• Actively supports employment equity by utilising diversity to the benefit of the team and customers.
• Ensure that all team members and customers/ suppliers are treated with equal respect and dignity.
• Manage the team to ensure that work standards and quality work output targets are achieved and maintained.
• Establish clear and consistent work measures for the team.
• Manage the performance contribution of staff against clear and established measures/ targets.
• Recognise and reward outstanding performance.
• Identify and manage poor performance (in line with the poor performance code) providing an opportunity for corrective steps to be taken to rehabilitate performance.
• Proactively share knowledge, coach, and mentor the team.
• Identify strengths and weaknesses and provide staff with the appropriate training to improve skills. Ensure that formal and on-the-job training is effectively planned and conducted to ensure that sufficient expertise is available to deal with the work.
• Actively build and encourage collaborative team relationships to help accomplish team goals.
• Actively supports employment equity by utilising diversity to the benefit of the team and customers.
• Ensure that all team members and customers/ suppliers are treated with equal respect and dignity.
Minimum requirements
Qualifications
• Must be a Chartered Accountant, Certified Information Systems Auditor, Certified Internal Auditor, or Certified Management Accountant.
• Minimum of 3 years’ experience in relevant field.
Hard/Technical Skills:
Excellent understanding of the scope of revenue risk management and business processes and tools required to reduce revenue leakages.
Proficient in structured query language (SQL) and ability to extract, organize, manage and manipulate data stored in relational databases.
Ability to work and interact with data visualization tools such as PowerBI, Tableau, etc.
Advanced computer software skills including Excel and Word.
Good knowledge of fundamental accounting principles.
Auditing background.
A background in data analysis, data reconciliation and data representation will be an added advantage. Excellent strategic, analytical, problem solving and process improvement skills.
Ability to perform well under pressure, meet deadlines and deliver high quality of work,
Good verbal and written communication skills.
Possess good interpersonal skills.
Possess good time management, planning and organizing skills.
Willingness to work extended hours when required,
Ability to work independently and meet strict deadlines.
Must have an aptitude for detail and critical analysis,
Operates with a sense of urgency, works well in an entrepreneurial culture, and performs under stress.
