Job description / Role
Assurance - Financial Services - Financial Instruments - IFRS 9 - Senior Manager
Line of Service
Job Description & Summary
You'll be part of a team of approximately 80 people, providing technical and practical advice to clients on how to resolve complex accounting issues arising from the implementation of new accounting standards/GAAPs and issues arising from events and transactions.
We'll offer you a wide variety of experience and an opportunity to develop your skills in this specialist area, working closely to advise both audit and non-audit clients and assisting in developing new service offerings to clients. There is significant interaction with both partners and directors, giving you opportunities for personal development and leadership roles within the group.
We combine both technical and practical competencies, offering clients much more than just the technical answers: we help clients in understanding the impact of accounting change and determining practical next steps based on our understanding and experiences of how to resolve and approach issues. We help our clients to understand the impact of changes in accounting on their systems, processes and KPIs resulting from:
- tAccounting complexity and change
- tGAAP conversions
Clients value our insights to issues, our knowledge of how others in the market are approaching the same issues and the application of practical and flexible implementation methodologies. We're a dynamic team thriving on technical complexity and assisting clients to address issues practically. We value helping clients make sense of complex issues across IFRS and other local GAAPs.
- You will be the subject matter expert and lead team across the Middle East region. Accordingly you will be required to provide the right leadership to the various teams and engage with a very wide stakeholder base across various lines of service across the region.
- You will be required to support the growth in the business and future opportunities arising from the implementation of International Financial Reporting Standard ("IFRS") 9 'Financial Instruments'.
- Managing accounting complexity and change specifically in the area of developing IFRS 9 compliant credit risk models (PD/LGD/EAD) and ECL calculation models;
- Managing teams to deliver the change that is required to be implemented within credit risk teams of banks arising from the application of IFRS 9.
- Supporting technical analysis and developing an area of financial instruments accounting (with a focus on credit risk model development) specialism where you'll become the 'subject matter expert';
- Support in the application and interpretation of complex credit risk modelling standards and regulations, in particular IAS 39, IAS 32 and IFRS 9;
- Managing teams to deliver projects on GAAP changes and new and developing accounting standards with a focus on IFRS 9;
- Support business development and proposal activity with regard to accounting implementation projects, in particular IFRS 9;
- Improvements (including financial reporting, process improvements, support on developing financial accounting reporting manuals, procedures, training and other knowledge transfer support).
- As a Senior Manager you will mainly be responsible for managing the overall team and develop the business during a process of significant change. Accordingly, you will be utilising both your technical specialism and your leadership skills. Our relationships are both internal and external; you'll build relationships across many parts of the firm including Assurance, Consulting, Deals and Strategy within your local office and across other PwC Middle East offices. You'll also be liaising with clients at senior levels.
- You will be required to possess strong project and people management skills as the delivery role requires client management, project budgeting and finance management on a portfolio of clients. A key part of delivery will be the review and delivery of complex client deliverables which will include executive level reporting through to detailed design documentation.
- Developing yourself personally, taking a keen interest in trends in the various industries impacted by the accounting change in the area of IFRS 9 and the impact on our clients so you can help shape their thinking and our success in the market
- The role also requires that the candidate is able to collaborate with colleagues across different competences within CMAAS and outside of CMAAS (Deals, Consulting and RAS) to bring our clients high value solutions
- Based on clients' requirements the candidates will provide technical and practical advice to our clients to help them deal with the complexities in ECL reporting under IFRS 9. As such, the candidate should have a good level of understanding of the applicable accounting framework, upcoming changes and ECL PD/LGD/EAD modelling and its impact not just from an accounting perspective but also from a business perspective.
- As part of a regional team of experts, the candidate will be working with colleagues in all Middle East offices on client work and internal initiatives as well as with international teams where appropriate; and, will be expected to keeping themselves up to date with current trends from the region and from across the world.
- The role sits within a rapidly growing part of PwC's Financial Services team within the Middle East Assurance practice. You will be an integral part of the team responsible for the overall management of the team to deliver a wide range products across the various industry sectors. You will have access to all of the latest training and development tools and the support of the wider PwC network. As part of the specialist team you will develop specialist skills and will act as the subject matter expert in the field interacting with a wide range of internal and external stakeholders. The role will also provide you opportunities to develop business development skills, as you will be involved in proposal development, project scoping and public speaking events.
- Qualified accountant
- Education: Bachelor's degree or equivalent in relevant subject areas such as Accounting, Finance, Risk Management or equivalent.
- Experience of supporting credit risk departments of banks
- Strong interpersonal skills and general business acumen
- Strong people management and senior stakeholder management skills
- Strong attention to detail
- Technical accounting knowledge of IFRS in general and specific knowledge of IFRS 9 ECL modelling and it's impact on credit risk functions of banks ;
- Good oral communication and written communication/report writing skills and ability to convey complex issues in an understandable manner
- An interest in how the accounting environment is developing and its impact on our regional clients
- Good project management skills
- Ability to work as part of a wider team (e.g. work closely with the actuarial and consulting practices)
- In-depth understanding of financial instruments and credit risk management techniques and models
- Knowledge of the trends in the financial services sector
- Exposure to credit risk/ derivative/ hedge accounting
- Excellent organisational skills, having the ability to prioritise workload whilst being resilient and being able to cope well under pressure and meeting tight deadlines.
Minimum years experience required
- 7-10 years of relevant FS experience focusing on credit risk function acquired in an assurance or advisory role preferably within a professional services environment.
Additional application instructions
- The role is based in Dubai but will require travel to other PwC offices in the Middle East.
About the Company
PwC firms help organizations and individuals to create the value they're looking for.
We're a network of firms in 158 countries with close to 169,000 people who are committed to delivering quality in assurance, tax and advisory services. PwC is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the global PwC network.
In our 3 key areas of business or Lines of Service Assurance, Tax, and Advisory we work with our clients from business start ups to the worlds leading organizations to measure, protect and enhance the things that matter most to them.
We help our own people to learn, discover, develop and make a real difference all the way through their working lives. And we have big ambitions to grow.
PwC Middle East Region is part of what we call the Central Cluster and includes the UK, Europe and Africa as well as the Middle East. The region consists of 12 markets - UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Jordan, Lebanon, Egypt, Libya, Iraq and Palestine.
PwC has been established in the region for over 40 years, we already employ over 4500 people and we are on course to become the Middle East number one professional service firm.