To maximise the customer experience by ensuring that continuous quick and efficient service is delivered to all Cash Customers through mentoring, coaching and developing staff within Hub and Spoke,
The process requires careful daily coordination, cash planning, forecasting and management and would need to use a nodal optimization tool to ensure most effective cash management.
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal ABSA Policies and Policy Standards.
Understand and manage risks and risk events (incidents) relevant to the role.
Accountability: Leading a Nodal Cash Hub and Spoke team Internal Perspective
- Responsible for opening and closing procedures for the Cash Centre area as per Cash Centre policies and procedures
- Perform quality checks on high-speed equipment by using the money from Test pack. Test pack to include fit, unfit and counterfeit banknotes as described in the Minimum standards issued by the South African Reserve Bank (SARB.)
- Regulate the Treasury workflow, i.e. Determine cash flow within area and placement of cash within other areas as per forecast within the Hub and Spoke (order is based on the money requirement forecast received).
- Ensure / Assist Runner to pack cash orders received from clients such as Hub and Spoke in order for ATM custodians to replenish ATM’s. Ensure correct orders are paid to correct custodian.
- Control risk in the Treasury department in line with the Cash Centre policies and procedures. Ensure correct lock up procedures with regards the physical cash and counting are followed at all times. As per policy for Cash Hub and Spoke (to be accepted) money sealed is at all times under dual control.
- Responsible for daily productivity stats and ensure all weekly / monthly / yearly targets
- Assist Cash Custodians within Hub and Spoke resolving client queries and complaints.
- Custodian for ATM & GBRU and Nodal Cash Planning processes and compliance
- Client contract regarding shortage / surplus and assist within Spokes if required
- Responsible for RIB foreign exchange administration and balancing and reconciliations on a daily, weekly, monthly basis
- Responsible for CIT Capacity approvals (Special Arrangement per register), CIT Cash Management and the Customer complaints management of Hub and Spoke
- Cash devices custodian
- Manage capacity of staff through recruitment of permanent as well as temporary and casual staff and planning of leave.
- Coordinate employees training and identify developmental needs and ensure these are acted upon. Ensure all staff are competent through completion of all required compliance training
- Establish and maintain effective communication channels and correspondence processes between employees.
- Establish and maintain a succession plan for the team.
Accountability: Minimise operational losses by controlling and Managing adherence:
- Clear the money to SARB when the HUB is over their set cash limit (the HUB’s cash ratio must not exceed 0.61 on a daily basis).
- Complete necessary documentation for clearing as per the policy. Prepare, pack and tag bags under dual control as per Policy, bag limits and within prescribed policy and procedure.
- Confirm clearance to SARB on the Cash ordering system on FBSS once the money has left the HUB area
- Ensure effective management of cash in the Treasury department.
- Ensure sufficient money to supply client demands within the Cash limit of the HUB. Order money from SARB (notes) and coins from SBV.
- Capture the physical Cash on Hand (COH) of the Hub and Spoke, the Integrated Cash Management System (ICMS via FBSS) before 10h00.
- Reconcile GLMQ enquiry balance to figure on the Final Reconciliation of Treasury Float
- Investigate all shortages or surplus.
- Ensure Hub and Spoke is within their limits and balance daily Cash In Transit, (CIT), Coin shortages and SBV shortages Handle shortages according to Cash Management and Control Procedures – Claims Absa Shortage in Cash Delivered by SBV.
- Check all Treasury Registers at the end of each day to ensure that it has been completed correctly,
- Ensure Reconciliation of Treasury Float actual COH. Sign the Reconciliation of Treasury Float and attach to the Treasury controller Reconciliation of Treasury Float.
- Prepare and reconcile all Treasury General Ledger accounts month end totals.
- Create awareness amongst Hub and Spoke staff to prevent theft and fraud and ensure that control measures are implemented on a continuous basis. Cash Counts and Bulk Stock checks. (Floats Treasury / Forex / Bulk / ATM / Relief Teller etc)
- Coach team members on all the processes and controls that they have to execute in their daily work and ensure that they understand the reasons for the controls and the consequences for failing to adhere to prescribed processes.
- Ensure that all losses identified due to processing errors or internal fraud is documented and logged as Risk and Loss events. Participate in the investigations.
- Ensure adherence to Branch Cash Management procedures / High Cash Volume procedures / ATM Procedures / CIT procedures / Business Rules
Accountability: Build effective working relations with all Strategic Business Units (SBU) by providing a complete service to customers.
- Ensure that staff forward leads to sales consultants to maximise sales – monitor and control the leads process.
- Encourage employees to promote the use of alternative delivery solutions channels to customers.
- Ensure the knowledge of employees is kept up to date on Absa’s product range.
- Implement the prescribed process to ensure the recovery of all manual fees in terms of the pricing manual.
- Act as backup for other team members in case of absence or during peak times.
- Perform all other duties as reasonably assigned.
- Act as a coach and enabler to direct sales team members under supervision by providing them with the tools and information to optimize sales.
- Understand and implement local market strategies to maximize opportunities and business profitability. Use market intelligence to meet and exceed the market needs.