IDB2278 - Director, Finance and Information Technology

Business Unit: ICIEC-Islamic Corp for Ins of Inv & Export Credit
Division: Not Applicable
Department: Not Applicable
Contract type: Conditional Regular (Indefinite) Employment
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 27-Mar-2019
JOB PURPOSE: The role holder is responsible for leading strategic and tactical planning, development, evaluation and coordination of financial operations for ICIEC. The role holder is responsible to ensure the cascade of organization strategy to all departments and employees in ICIEC, guiding business decisions through financial planning, accurate and complete accounting in compliance with regulatory provisions, timely reporting and interpretation of financial information and establishing sound internal control procedures. Also, the role holder is responsible for the development and implementation of the Treasury and Investment strategies as well as assessing, monitoring, planning and managing the efficient utilization of cash in a manner consistent with the objectives of the Corporation.

In addition, the role holder is responsible for development and implementation of the Information Technology strategy, policies and initiatives in alignment with the overall ICIEC IT business requirements.


Strategic Responsibilities

  • Contributes in the development of ICIEC’s organization strategy and contributes to the overall process of management and corporate decision making along with other members of the Management Team.
  • Directs and manages the Department mandates, providing leadership and facilitating work processes in order to achieve high performance standards.
  • Leads and monitors change in the Department providing guidance and support, necessary for continuous improvement.
  • Ensures compliance with organizational policies, procedures and quality standards in the Department.


    Business Plan & Budgeting

  • Directs and coordinates the development of budgets, short and long-term financial forecasts and related operating budgets for ICIEC and individual Departments.
  • Monitors the actual performance of the departments against the budgets and ensures preparation of periodic MIS reports on the same for Senior Management to review.
  • Plans, communicates, and gathers the business plan and reflects in a business plan and financial model on medium and strategic manner.


    Financial Planning

  • Provides active support in developing and implementing organizational strategies by contributing financial and accounting information, analysis, recommendations and provides financial advice on business strategies.
  • Leads the budget planning activity for ICIEC and sets the framework for annual business planning and budgeting, timelines, frequency etc. based on inputs derived from identification of demand, revenue and cost drivers and ensures alignment with the strategic plan
  • Prepares overall budgets, mid-year and annual forecasts and cost accounting processes for ICIEC based on inputs derived from past performance and the strategic direction of the organization and ensures disbursement of budget is in adherence to established financial plan.


    Financial Control

  • Establishes framework and processes for efficient and effective management of company's finances through all necessary financial controls, systems and processes and ensures accuracy and integrity of the company’s financial records.
  • Directs the preparation and analysis of all financial reports, including income statements, balance sheet and cash flow statements in accordance with financial accounting standards for Islamic Financial Institutions and International Accounting Standards.
  • Establishes and ensures a robust control and governance environment by defining financial standards in line with all statutory and regulatory requirements.
  • Establishes and ensures a robust control and governance environment in line with regulatory requirements and consistent with ICIEC’s internal policies and ensures statutory compliances of all systems, processes and accounting practices. 
  • Monitors cost distribution and exercises necessary budgetary controls on all costs incurred through internal and external business operations, ensuring that they comply with the drawn budgets.
  • Creates an effective control mechanism to ensure that the disbursal process is carried in accordance with the approved terms and conditions.
  • Supervises the delivery of requested information to auditors and managers relationship with the auditors.


    Treasury and Investment

  • Creates a framework for cash management and investment management for ICIEC and directs the corporation’s cash flow management and ensures company cash flow is adequate to allow it to operate effectively.
  • Directs the company's fund management and ensures that the corporation’s funds are utilized optimally and the bank outstanding is within the limits assigned.
  • Provides consultation to Senior Management on upper tier financial issues such as ideal capital structure, cash management practice, capital funding and investment strategy etc.
  • Takes critical decisions about management of funds for ICIEC based on targets and budgets ensuring maintenance of required liquidity and monitoring the asset and liability position in line with the risk management and investment guidelines.
  • Directs and guides all investment activities in avenues such as deposits, bonds, structured investments, funds, etc. to ensure efficient management of ICIEC’s funds.


    IT Function


  • Establishes guidelines and norms for service desk operations to ensure quick response in resolution of IT user incidents and requests in an appropriate manner.
  • Establishes service desk processes, documentation and workflow process regularly to ensure efficiency in service desk operations and resolution of IT breakdown incidents.
  • Articulates and oversees implementation of Service Level Agreements (SLA’s) and quality standards to establish problem resolution expectations and timeframes.
  • Oversees the implementation of the ERP/CRM systems for ICIEC, in coordination with IDB, as per the business needs.




  • Identifies ICIEC’s performance reporting needs, formats, etc. and ensures the development requisite MIS systems to generate detailed and accurate reports addressing the business requirements.
  • Guides the integration of analytical performance monitoring methods in performance reporting activity to ensure development of detailed and accurate reports.
  • Ensures the preparation and development of a comprehensive financial reporting (MIS reports) and performance standard in line with international best practices with an aim to provide Senior Management with meaningful trend analysis






Prior experience in leading Finance, Treasury and IT with deep technical experience in financial, investment and accounting operations from Financial Institutions, preferably from the industry of the Insurance of investment, Export credit and trade finance.



Master’s Degree with 17 years of experience

Bachelor’s Degree with 20 year of experience

Business Language Skills: Good command of written and spoken English essential, additional languages such as Arabic, French is an added advantage

Relevant certifications such as CPA / CA / CFA / CTB are mandatory

  • Strong and healthy financials


  • Adherence to allocated budget


  • Adherence to Accounting Norms


  • Foreign Exchange Management


  • Credit Rating Management


  • Accuracy of Budget Variance analysis & Sensitivity analysis


  • Operational efficiency


  • Return on Investment “ROI”

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