Job description / Role
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
Support the Manager, Financial Governance in establishing and maintaining financial accounting procedures for the bank and ensuring compliance with reporting requirements from the local regulators' specially the CBUAE; strengthen the Financial Reporting function to enable excellence in process design, implementation and controls as well as to ensure adequate back-ups for all key processes and functions.
Support the preparation of annual and interim financial statement along with financial disclosures in line with applicable regulations and requirements of other regulatory bodies for CBD and all the legal entities.
Support in the implementation and maintenance of the Balance Sheet Reconciliation and Substantiation framework, ensuring that appropriate reconciliations, substantiations and attestations are completed.
Support in the preparation of the monthly Financial Governance meeting packs and follow up on all open action points.
Perform GL maintenance, investigate discrepancies and ensure resolution on a daily basis.
Support with the opening or closing of GL in line with the bank's procedures.
Create and maintain an up-to-date timeline and responsibilities to inform stakeholders of necessary deadlines for the financial and regulatory reporting.
Maintain and monitor the monthly Financial Reporting team's KPI, checklists and open points as per the self-identified issues.
Support with the continuous assessment of the month end/quarter end close process and identify process re-engineering opportunities to reduce the time required for month end and quarter end reporting.
Support with the update of all necessary financial policies and accounting practices; improve the finance department overall policy and procedure manual and ensure in complying with internal financial and accounting policies and procedures.
Prepare and submit the relevant monthly reports for ratio calculations.
Support with the production of quarterly financial statements substantiation and attestation folders.
Support with ad hoc financial analysis from time to time, to assist the management in evaluating profitability of income streams and potential for cost efficiencies. Preparation and updates to publications like annual general meeting packs and annual report.
Chartered Accountant with superior accounting skills and experience is preferred.
Highly computer literate with a comprehensive knowledge of commercial business drivers
5+ years' experience in finance / accounts functions preferably in an international financial services organization
Public practice experience preferably with a big 4 auditing firm
Experience working in financial services organization managing balance sheet reconciliation, substantiation and attestation practices preferred
Knowledge of finance, commercial and accounting concepts, processes and procedures
Good command of English and Arabic with additional language skills
Exceptional analytical skills
Superior report writing and presentation skills
Excellent numeracy and accuracy
Good stakeholder management and influencing skills
Strong technical knowledge of International accounting Standards (IFRS) / GAAPs
About the Company
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.