IDB2753 - Lead Accounting and Reporting Analyst

Job Purpose

Ensure soundness and integrity of IDB’s financial statements by formulating and implementing effective accounting and audit policies in line with various international accounting standards and regulatory requirements. Oversee the preparation of financial statements of the bank and trust funds.

Key Accountabilities

Account Management

• Oversee implementation of operational procedures to meet accounting, reporting and disclosure requirements of international accounting standards and AAOIFI.
• Facilitate periodic internal and external (Financial/COSO) audits of OCR.
• Review financial statements related to special funds.
• Manage the Chart of Accounts of the funds under management of FCD.
• Take charge of project assets reconciliation and project revenue accruals.
• Manage sukuk issuance process from the accounting side as well as working with external auditors on comfort letters and related documentation
• Manage monthly/quarterly and yearly closing of books of accounts and prepare financial statements of IDB-OCR.
• Provide support to the Middle Office in analyzing the impact of currency management on Fx gains/losses.

Financial Analysis

• Provide first line support in analyzing income statement and balance sheet variances periodically
• Technically lead research and analysis on relevant areas such as IFRS/AAOIFI accounting standards.

Policies & Procedures

• Develop statutory audit and accounting policies of IDB and make necessary recommendations to ensure compliance with latest AAOIFI and IFSB standards.
• Periodically review the internal control mechanism and corporate governance guidelines of IDB and recommend necessary improvements to ensure assets are safeguarded and liabilities properly managed.
• Manage ICFR COSO Compliance and Accounting Policy update projects
• Provide technical guidance on interpretation of policies and procedures, relevant AAOIFI and IFRS pronouncements and legislative regulations applicable for the division.
• Interpret complex disclosure requirements as per latest standards to ensure conformance with necessary audit requirements while preparing financial statements.
• Technically lead the integration of division’s policies and procedures with SAP and Misys systems.
• Prepare cut-off financial statements and facilitate release of the Comfort letter in connection with the Sukuk Issuance. Liaise with the external auditors.
• Facilitate release of CFO certificate to the Lawyers/JLMs in connection with the Sukuk Issuance.
• Act as a Super User for new SAP/MiSys or other related systems implementation and provide first line of support to other members of the division.

Reporting & Communication

• Oversee the inclusion of relevant information in the annual report based on the financial analysis performed by division staff members.
• Oversee the preparation of periodic and ad-hoc reports as requested by management.

Education, Experience & Certification

Academic and Professional Qualifications:

• Bachelor's degree in Accounting, Finance, Economics, Business Administration or related field is required, master's degree is preferred.
• Certification in CA, CMA, ACCA or CPA.
• Certification in Islamic Finance/Accounting is preferred.
• Minimum 10 years' experience in finance and accounting.
• Minimum 3 years of Managerial experience.
• Advanced SAP experience.

Skills & Necessary Knowledge

• Ability to adapt to changing business circumstances to maintain effective performance of complex.
• Ability to draw actionable steps from IDB overall strategy.
• High degree of confidentiality and protection of sensitive information.
• Ability to maintain a rational and objective demeanor when faced with stressful or emotional situations.
• Ability to carry out performance evaluations at sub-complex and direct report level.
• Plans and prioritizes work tasks appropriately.
• Influence others using rational arguments. Identify basis for compromise and reaches agreement.
• Ability to identify risks and implement necessary mitigation measures.
• Consistently works to a high standard and looks for ways to improve current working practices and processes for the benefit of customers and the company.

Languages

• English ( Mandatory )
• Arabic ( Preferred )
• French ( Preferred )