IDB2333 - Senior Accounting and Reporting Analyst (Under Lives and Livelihood fund)- Fixed Term Contract

Business Unit: Finance Complex
Division: Accounting and Reporting
Department: Financial Control Department
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 04-Sep-2019

Job Purpose:

Review and ensure compliance to Financial Accounting standards by AAOIFI and International Financial Reporting Standards (IFRS) in all Treasury financial transactions (such commodities, sukuk investments, swaps, forex, sukuk liabilities, reverse murabaha, currency alignments, Treasury payments) of the bank and trust funds. Oversee preparation of financial statements for Special Purpose Vehicles (SPV) in compliance with IFRS, perform financial analysis as required by fund managers / rating agencies, manage all accounting transactions related to medium complexity funds.

Key Accountabilities (not exhaustive list):

Account Management

  • Implement necessary operational procedures to meet accounting, reporting and disclosure requirements of the international accounting standards and AAOIFI
  • Review all financial transactions to ensure their compliance with Generally Accepted Accounting Principles and Practices
  • Ensure compliance and conformance of all transactions with IDB's rules, guidelines and internal control systems
  • Ensure effective integration of division's policies and procedures with SAP making finance and accounting more SAP compliant
  • Generate and verify Income accruals from CML for all Project Assets and postings to GL
  • Run, verify and post all foreign exchange valuations of the assigned funds.
  • Review balances of all technical clearing accounts  relating to projects and ensure timely clearance

Financial Statements

  • Prepare monthly/quarterly and annual financial statements with all the required disclosures for the assigned funds
  • Evaluate financial performance indicators to be included in the annual report
  • Assist seniors in reviewing financial statements for the group to address regulatory and other management reporting requirements

Policies & Procedures

  • Contribute in preparation of IDB's accounting policies in conformance with international accounting standards like AAOIFI, IFRS and compliance with Shariah rules and guidelines.
  • Advice on drafting and updating policies on technical accounting issues related to complex transactions
  • Coordinate with the team to establish a framework of internal controls over the financial transactions of all departments to adequately safeguard assets and efficiently manage the liabilities
  • Administer implementation of new statutory accounting standards after evaluating its impact on functional areas

Reporting & Communication

  • Coordinate with internal and external auditors for financial audits and conduct follow up with division on audit recommendations
  • Facilitate timely availability of the relevant data from other departments for preparation of financial statements
  • Represent IDB at various external forums including regional and international events to establish a strong image of the bank as a group
  • Keep abreast of latest regulations in international markets and any other jurisdiction that may have an impact on the group operations
  • Prepare the information needed for Rating Agencies and Sukuk Issuance.


Job Requirements:

Academic qualifications


  • Bachelors degree in Accounting, Finance, Economics, Business Administration or related field is required, masters degree is preferred
  • Certification in CA, CMA, ACCA or CPA Certification in Islamic Finance/Accounting is preferred



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

Minimum number of years and nature of experience

  • 7-9 years experience in finance and accounting

  • Advanced ERP experience

Job specific competencies





  • Adaptability
  • Building Relationships
  • Client Centricity and Responsiveness
  • Motivation to Learn and Share
  • Passion for Excellence
  • Analytical Thinking
  • Communication Effectiveness
  • Drive for Results
  • Knowledge, Learning and Communication
  • Problem Solving
  • Stakeholder Management / Client Orientation
  • Strategic Planning
  • Teamwork
  • Bank Knowledge
  • Financial Management
  • Audit Operations
  • Financial Reporting
  • IDBG Financing Instruments
  • Report Writing
  • Islamic Finance
  • Accounting
  • Product Knowledge
  • Business Process Knowledge
  • Systems Development and Maintenance
  • Policies and Procedures

Travel requirements:

Travel as needed


Jeddah, Head Office