Senior Manager Financial Reporting

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NSI & Bluefin Talent

Riyadh, Saudi Arabia

JOB DESCRIPTION / ROLE

Job Accountability:

The role holder is responsible for reviewing and developing financial reports that are provided to bank’s stakeholders to ensure high quality standards are achieved and deadlines are met. The role holder is also responsible for ensuring that statutory reports are developed in accordance with SAMA regulations and guidelines.

Knowledge and Skills:

Minimum Qualifications

• Degree in Finance or Accounting

Professional Certifications

• Chartered Accountant status is preferred (CPA, CA, ACCA, ACA, FCA, ICAEW etc).

Language Skills

• Written and spoken English is essential, Arabic is preferred.

Experience

• A minimum of 5 years of relevant experience with at least 3 years in a similar role

Nature of Experience

• Prior experience in financial reporting in the banking sector is preferred.

Core Responsibilities:

• Reviews and validates monthly, quarterly, semi-annual and annual financial statements provided to bank’s stakeholders.
• Monitors and ensures that all information and reports related to accounting services sections such as account payables, account receivables, general ledger, etc. are provided accurately as per the guidelines.
• Collaborates with the senior management on updating bank’s profit and loss account and balance sheet and ensures accurate distribution of information to stakeholders.
• Lead the development of best in class public annual and quarterly reports to the market.
• Supports SAMA and other applicable regulatory bodies with necessary financial reports/information/analysis as and when required.
• Collaborates closely with bank for sharing best practices and providing inputs to the Chief Accounting Officer for implementation of relevant practices.
• Conducts research on financial reporting best practices and advises the senior management on how to improve current processes and procedures.
• Resolves any issues/queries raised by auditors during audits.
• Maintains and develops internal controls related to external reporting to ensure efficiency of reporting policies and procedures.

Risk & Internal Control Responsibilities

• Governs implementation of risk-related policies and processes (operational, regulatory, financial, informational, reputational and audit risks) for the department, ensuring that that these meet regulatory and internal control requirements.
• Reviews implementation of the internal control systems in line with relevant operating procedures and regulatory requirements and takes corrective action based on audit findings.

REQUIREMENTS

Technical Competencies:

Financial Statements

• Advanced- Expert knowledge of regional and international regulations governing financial statements and expert knowledge of varied methodologies and techniques for analyzing financial statements e.g. income statements using reformulation choices, balance sheet analysis using ratios, cash flow statement analysis etc.
• Ability to analyze financial statements and use financial analysis formats and ratios in the perspective of - organization financial health analysis, industry and competitor analysis perspective, credit analysis, equity analysis, (fraud) audit analysis etc. to make strategic decisions.

Accounting Standards

• Expert knowledge of the latest developments and advancements in internationally accepted accounting standards such as GAAP, IFRS accounting standards.
• Ability to define and implement processes and systems to ensure all accounting processes and preparation of financial reports is in adherence with internal, regional and SAMA (Saudi Arabian Monetary Agency) guidelines and standards.

Islamic Accounting Standards

• Expert knowledge of Islamic Finance and knowledge of the latest developments and advancements in the Islamic Finance standards - AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) and IFSB (Islamic Financial Services Board) standards.
• Ability to define and implement processes and systems to ensure all accounting processes and preparation of financial reports is in adherence with the Islamic financial principles and accounting standards.

Financial Reconciliation

• Expert knowledge of financial reconciliation process and inter-linkages or dependencies with other financial systems and processes.
• Ability to define and implement a financial reconciliation process to effectively manage the for Nostro cash and ledger statements.
• Ability to build mechanisms and internal controls for highlighting discrepancies and procedures for minimizing the risk of inaccuracies. Financial Budgeting and Forecasting

Basel Reporting Standards

• Expert knowledge of the Basel II reporting standards, norms, requirements from a strategic perspective e.g. various limit/ratio monitoring reports, trend comparisons from period-to-period, ensuring data integrity etc. and expert knowledge of developments/updates in the upcoming Basel III reporting standards and their impact on bank’s.
• Ability to define and implement a Basel II reporting process to ensure compliance to regulatory standards and to effectively monitor the bank's financial liquidity.

Investor Reporting

• In-depth knowledge of investor relations reporting standards, norms, data requirements etc. and in depth understanding of the process followed at bank related to investor reporting.
• Ability to independently prepare the relevant communication material (e.g. presentations, press releases, and other communication materials for earnings releases, industry events, and presentations to analysts, brokers, and investors etc.) for investor reporting.

Finance Metrics

• Advanced - Expert knowledge of various types of finance metrics (operational, strategic, predictive etc.) research tools and techniques, regional and global benchmarks, industry benchmarks, latest research and development in metrics being tracked etc.
• Ability to identify and define appropriate finance metrics to measure the efficiency and effectiveness of finance systems and processes in delivering business goals.

Financial Performance Indicators

• Advanced- Expert knowledge of strategic metrics related to financial performance e.g. Cumulative average growth rate (CAGR), fixed asset turnover, working capital ratio, return on equity (ROE) etc. and knowledge of regional and global benchmarks, industry benchmarks, latest research and development in metrics being tracked etc.
• Ability to conduct complex and detailed statistical analysis required for tracking progress or analyzing the financial performance.

ABOUT THE COMPANY

New Sourcing International (NSI) / Bluefin Talent have partnered so to offer a specialized recruitment solution within the Consulting and Financial services domains.

Working together as a specialist search and selection agency, we concentrate on blue chip financial services and strategy / technology consulting organizations across Europe and the Middle East; focusing exclusively on Financial Services, IT and Risk. Being niche allows us to offer a premium search service, tailored to overcome the technically challenging nature of recruitment for the specialist functions that we work.

We are dedicated to representing best of breed candidates in the region in our dedicated fields of employment. As such we are a leading outfit for placing ex-pats and internationally educated students in the region.

Our biggest unique selling point, is that we are steered by a dedicated team of ex-financial services and industry professionals. This allows us to offer a level of candidate pre-screening for roles, which is largely anomalous to the recruitment profession. Our ability to bridge the technical knowledge gap typical recruiters encounter, coupled with a thorough delivery process allows us to drive consistently superior results for our clients sourcing requirements. Designed to provide a fast and efficient turnaround, we minimize the use of internal resources our clients spend vetting inadequate profiles, allowing them to quickly get back to focusing on their strategic goals.

Our strength lies not only in the specialist nature of our firm, but also in the commitment we show towards our clients and candidates. We endeavour to build long-term relationships and recognise the crucial nature of communication throughout the recruitment process. Excellence, integrity, respect and transparency are cornerstone to the culture we promote.

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