Accounting & Reporting Specialist

Job Purpose
* Review and ensure compliance to Financial Accounting standards by AAOIFI and International Financial Reporting Standards(IFRS) for all general ledger transactions for the Bank and Trust Funds.
* Prepare accurate financial statements for the Special Purpose Vehicles (SPV) (AUM > US$15bln) and the Trust Funds (AUM > US$5bln) in accordance with AAOIFI.
* Perform advanced financial analysis for the Bank's Ordinary Capital Resources (AUM > US$25bln) and various Special and Trusts Fund under the management of Financial Control Department.
* Advanced knowledge of all relevant IFRS and AAOIFI accounting standards and a working knowledge of the Bank's SAP financial reporting system.
Key Accountabilities

Account Management:
* Review and clear all treasury and investments related financial transactions for posting in SAP-GL for all company codes.
* Undertake analysis and recommend corrective measures to improve accuracy and completeness of financial statements.
* Monitor the recording of financial transactions related to IsDB treasury, funding, and investments in Misys.
* Generate income accruals from Misys for all treasury investments and make posting on SAP-GL.
* Review inter-fund reconciliations, resolve related issues, and follow up for the timely settlements.
* Monitor technical clearing accounts related to treasury investments and Project Assets.
* Compilation of the various Audit and Pension Committee reports for the assigned entities together with detailed financial analysis, commentary, and recommendations (if required).
* Development and formulation of appropriate financial performance indicators to be included in the Bank's annual report.
Financial Analysis:
* Determine appropriate and relevant financial analysis metrics to adequately assess the financial performance of the relevant entities.
* Develop meaningful and user-friendly financial analysis reporting packs for each reporting entity.
* Provide accurate and timely financial analysis and other information on Treasury, Investment, and funding portfolio performance.
* Carry out periodic analysis of treasury investments, equity and other investments and funding instruments.
* Provide regular detailed analysis of the Fund's financial performance to management.
Financial Statements:
* Preparation of monthly, quarterly, and annual financial statements with all the required disclosures for the assigned Bank entities.
* Prepare financial statements for the assigned funds and SPVs, in accordance with applicable IFRS/AAOIFI standards.
* Manage and finalize audits of the Funds and SPVs' financial statements.
* Develop appropriate financial statement formats in accordance with relevant accounting frameworks for any newly created funds/entities.

Policies & Procedures:
* Participate in formulation and implementation of policies and procedures for the division.
* Ensure that all financial transactions comply with Generally Accepted Accounting Principles (GAAP).
* Formulate appropriate accounting frameworks in response to the introduction of new IFRS and AAOIFI standards.
* Coordinate within the department as well as all other relevant stakeholders to establish a framework of internal controls over the financial transactions of all departments to adequately safeguard assets and efficiently manage the liabilities.
Reporting & Communication:
* Prepare all Treasury, Investment and Funding related information and reports as per FCU requirements for the annual rating of the Bank.
* Prepare monthly financial reports on the Funds and highlighting areas of concern, if any.
* Prepare monthly and quarterly financial analysis and reports on the financial statements.
* Prepare ad-hoc reports/technical papers as and when required by management.
* Coordinate between internal departments & external auditors and follow up with the relevant departments on audit recommendations.
* Development and preparation of relevant reporting templates, data and other necessary detailed information needed for the Bank's credit rating exercise, external consultants for sukuk issuances and annual actuarial valuation exercises.
* Contribute and support Bank wide initiatives with respect to system enhancements, new system integrations and system corrections

Education, Experience & Certification
Academic and professional qualifications:
* Bachelor's degree in Accounting, Finance, Business Administration, or related field.
* Certification in CA, CMA, ACCA, CPA or CIPA is preferred.
* Minimum ‎5 years of experience in finance and accounting, preferably in a Multilateral sector or large Global organization.
Skills & Necessary Knowledge
* Building Relationships
* Passion for Excellence
* Analytical Thinking
* Problem Solving
* Knowledge of Development Sector
* Accounting
* Strong MS Excel and ERP skills and experience.
* Financial Management
* Financial Reporting
* Financing Instruments
* Audit Operations
* Report Writing
* Product Knowledge in Islamic Finance, Sukuk, Murabaha etc.