Senior Manager, Planning & Performance

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.

Job Purpose

The role holder will be responsible to Lead the annual plans, regular and reliable forecasting and business performance reporting, sales incentive validation, Expense versus budget monitoring and project / cost management across the group

Provide oversight and support on financial performance reporting and analysis bank wide. The role will assist in translating business strategy into measurable objectives and metrics to enable regular monitoring and performance measurement against business goals and strategy.

Principle Accountabilities

- Financial Plans: Lead the bank wide Planning process end to end which will involve interaction and discussion with senior stakeholders. Planning process will include detailed working on revenue, expenses balance sheet and key ratio plans at bank level, business unit and performance unit level.

- Forecasting: Build and implement rolling forecast for the bank and business units.

- Business Performance and Insight: Manage the preparation of monthly performance reporting ensuring deadlines are met, integrity and consistency of financial information and usability of end users. This includes providing deep insight, scenario analysis and recommendations to drive business performance to achieve enterprise strategic goals. Insight to span revenue, expense, capital, return on equity, regulatory, liquidity and funding dimensions.

- Net Interest Margin Analysis: Develop and maintain model with detailed customer level analysis of the interest margins for all products with historical trends. The model to include simulation of the impact of margin movements.

- Peer Group Analysis: Develop detailed packs showing comparative against Tier 1 banks and CBD peer groups on various parameters including 5 year quarterly movements in revenue, expenses, operating profit, provisions, net profit, assets, loans and deposits. Comprehensive UAE Bank benchmarking which includes various financial parameters.

- Economic Updates: Support the preparation of the Board pack and Investor pack with Economic updates such as UAE purchasing managers index, UAE GDP growth, CPI & inflation, Oil prices, GDP by sector, growth in economy, CBD's corporate social responsibilities and CBD awards

- Cost Control: Manage the cost center structure in conformity with Bank's cost management framework with active business engagement to deliver cost reports. Support in achieving the banks cost targets by ensuring adequate cost controls and transparency and analysis including but not limited to cost center review & and process efficiency. Propose control improvements, enhancements and simplifications where appropriate.

- Sales Incentives: Review of the Sales incentive pay-out providing approvals and ensuring data accuracy and compliance with pay-out policies. Ensure timely release. Maintain strict control on the pay-outs by ensuring the computation of Sales incentive pay out for each agent is as per the existing Sales incentive policy. Review and challenge on the new proposed sales incentive policy.

- Financial Modelling: Prepare detailed financial projections and models for the various business initiatives of the bank to evaluate them in terms of financial returns and economic viability after considering various scenarios and all the risks involved.

- Projects and Transformation: Take initiative to investigate and recommend suitable suggestions to improve the effectiveness of the MI produced. Engage with business owners to define methodology and business logic for new performance measures. Identify and resolve issues, errors, gaps between data sources and business requirements. Own the calculation process that transforms raw data into structured information for reporting needs.

Requirements

Requirements
Experience and Qualifications

- 8 years' experience in financial services

- Deep understanding of banking products, planning, operations, profitability, performance analysis, MIS and reporting. Ability to understand business requirements and combine good financial acumen with accounting principles/ other regulations to contribute to banks strategy and profitability.

- Expert knowledge on financial modelling, financial & management accounting and commercial attributes associated with full scale banking activity.

- 3+ years' experience working in accounting public practice

Skills

- Outstanding communication and interpersonal skills

- Planning and organizing skills

- Professional drive and learning attitude

- Process Improvement & Innovation

- Analytical skills

- Excellent numeracy and accuracy

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.