The Specialist International MIS & Financial Analysis will have overall responsibility for the International MIS and financial control environment across the international entities of the Group. The incumbent will work closely with the business units and Head of International MIS & Financial Analysis in developing financial models which support strategy development, prudent deployment of capital and effective, financially sound investments for franchise expansion across the businesses managed by IBD including branches, subsidiaries and affiliates.
Essential Duties & Responsibilities by Dimensions:
• Shareholder & Financial:
-Prepare consolidated financial statements & financial Analysis for the Group s International units.
-In concert with Head of International MIS & Financial Analysis, develop and provide on a dynamic basis MIS of the Group s International branches, subsidiaries and associates and in conjunction with this establish appropriate KPI s for monitoring business performance against strategic objectives.
Assist the Head of International MIS & Financial Analysis to create long term financial strategies to maximize shareholder value.
-Monitor and recommend optimum capital structure/s for individual overseas operations to maximize shareholder return, maintain appropriate capital adequacy ratio/s and mitigate against sovereign risk.
-Support effective decision making and advise executive management on matters relating to financial investments, risk management, liquidity, strategic planning, balance sheet structure, new products, profit projections as well as effective use of resources in international banking.
-Manage limits and exposures within IBD with a view to improving the IBD s profits, whilst ensuring compliance with the overall approved limits.
-Promote timely and balanced disclosure of all financial matters concerning IBD and timely international regulatory reporting of the Group by putting in place mechanisms designed to ensure compliance with all relevant laws and regulations in all countries in which the Group operates.
-Lead the annual budgeting process for IBD in concert with the Head of International MIS & Financial Analysis, AGM Int l Finance, AGM MIS and GM CFO.
-Develop appropriate transfer pricing and cost allocation mechanisms to accurately determine the actual profits of business units within IBD.
-Analyze investments, new products, project appraisal reports using DCF, IRR, and RAROC.
• Customer (Internal & External):
-The position has a broad internal customer base including both at HO and in individual countries. Principally these will include Head of International MIS & Financial Analysis, AGM Int l Finance, GM CFO, GM-IBD and Country GM s. The position will be required to support all these customers directly or indirectly with respect to all financial matters to assist IBD achieve its strategic objectives and building of strong relationships at a senior level across all functions and a demonstrable ability to influence outcomes and change is important to the success of this role.
• Internal (Processes, Products and Regulatory )
-Ensure accurate and timely preparation of consolidated financial statements relating to overseas branches/offices and subsidiaries in accordance with IFRS, AAOIFI and applicable regulatory requirements in countries in which the Group operates including consolidation of all international units including branches, affiliates and subsidiaries.
-Ensure daily financial control environment within IBD countries is appropriate taking into account both overall Group standards and localised country requirements and facilitate the development of appropriate policies and procedures as may be required.
-Oversee annual budgeting for IBD and provide ongoing gap analysis on a regular basis to review performance against plan with Management team.
-Facilitate development and monitoring on a proactive basis, business indicators, which will assist the Management team in securing new or increased lines of business.
-Monitor average interest rate spreads and margins within IBD and develop marginal cost/benefit analyses. Devise and maintain in coordination with Group Risk a system to monitor risk adjusted return on capital and the development of an appropriate matrix to justify pricing of credit and transactional exposures.
-Keep close track on changes in international accounting standards/ IFRS and analyze the impact of changes on the Group s financial statements.
-Identify requirements for updating the MIS and lead on the implementation. Take initiatives pertaining to identification of new MIS reporting tools/practices relevant to the International Operations.
• Learning & Knowledge:
-Possess a superior knowledge of finance and risk related business processes and controls in all related operational areas.
-Maintain an understanding of all pertinent local and international regulations as well as best practices pertaining to financial and management reporting.
-Possess a sound knowledge of International Accounting Standards/IFRS, AAOIFI and relevant Basel II/Basel III pronouncements.
-Ensure appropriate organisational deployment for FCD within the countries where the Group operates.
-Oversee recruitment, provide motivation, guidance to employees and reinforce high standards with regards to performance, and adherence to the Bank s values and mission.
-Bachelor/ Masters Degree preferably in accounting or related subjects.
-Professional certification such as CPA, CA, CMA, CFA etc. is a plus.
-Minimum of 6 years experience in a major bank of which at least 4 years in managerial capacity of International Accounting, Consolidation, budgeting, planning MIS and regulatory reporting.
Required Special Skills:
-Excellent oral and written communication skills in English and Arabic (preferred).
-Knowledge of International Operation reporting and consolidation including knowledge of group consolidation and related pronouncements, including but not limited to IFRS, IAS, AAOIFI etc.
-Proficiency in MIS tools/techniques
-Well-developed analytical and interpersonal skills.
-Ability to deliver under pressure.
-Ability to build relationships across the organization to deliver results.
-Knowledge of accounting rules for the various products of the Group.