IDB1846 - Associate - Finance & Accounting

SECTION I: JOB PURPOSE

This role is responsible for compiling and recording all transactions into the books of accounts in an accurate & timely manner and ensuring that they are classified in accordance with the prescribed accounting standards. In addition, this role is responsible for supporting in the preparation of draft reports for MIS related reporting and information and support in the preparation of draft reports for Administrative budget and budget utilization and support in consolidation of Annual Administrative Budget preparation 

SECTION II: KEY RESPONSIBILITIES

Core Responsibilities

• Recording all accounting entries pertaining to receivables, collections and general ledger and ensuring that they are identified, classified and posted as per accounting policies and procedures.

• Uploading of approved administrative budget.

• Checking budget availability for proposed expenditures (revenue, capital).

• Recording administrative expenses.

• Preparing budget utilization and other related reports on monthly basis.

• Reconciling Administrative expenses between income statement and cash budget.

• Preparing accruals and prepayment journals.

• Support in consolidation of Annual Administrative budget preparation.

• Documenting administrative expenses incurred by various departments as well as accruals and capital expenditures being made by ITFC as per the prescribed payables accounting procedures. 

• Recording transactions related to commodity investments, share capital receipts, cash flow etc. in the books of accounts.

• Reviewing financial transactions (settlements) as part of ITFC compliance procedures.

• Preparing the amortization schedule for various assets in order to depreciate them in the books of accounts.

• Assisting in income generated on Sukuk and commodity investments.

• Assisting in maintaining the trade development accounting for own charities and donations following the relevant accounting standards (Trade Cooperation & Promotion Programs).

• Assisting in maintaining shareholder accounts, answer requests for information from and prepare relevant correspondences to shareholders.

• Assisting in maintaining the fixed assets accounts.

• Registering invoices and settling vendor payments and handling first level queries from vendors on payables and resolving issues, if any.

• Ensuring that the books of accounts are updated at all times in order to facilitate accurate report generation for senior management decision making. • Assisting in year-end book closing by ensuring that all the required information is recorded and available.

• Implementing changes to accounting and reporting processes as recommended by the auditors.

• Providing support in executing projects around system enhancement such as automation of reports to improve turnaround time and quality of reports.

• Participating in division level improvement initiatives (such as leveraging technology for financial reporting, documentation of manuals etc.) in order to contribute to the overall effectiveness of Finance & Accounting. 

SECTION IV: KNOWLEDGE, SKILLS & COMPETENCIES

Bachelors/ Graduate Degree in Finance

Language Skills

• English is compulsory

• French and Arabic is preferable

Years of Experience

• 0-2 years of experience in the Accounting function