Head of Finance

Mashreq Bank PSC; United Arab Emirates; On-site; AED 400,000 - 600,000; Full time

Job summary

A leading banking institution in the United Arab Emirates seeks an experienced finance leader to manage finance operations for its global functions. The role involves ensuring compliance with statutory requirements and leading strategic projects for digital transformation. Ideal candidates should have over 20 years of finance experience, strong analytical skills, and proven leadership in a multi-cultural environment. This position promises a challenging and rewarding opportunity to contribute to the bank's strategic objectives.

Qualifications

• 20+ years of experience in finance with sound analytical skills.
• Experience in international banks is preferred.
• Proven leadership skills and ability to work with diverse teams.

Responsibilities

• Manage all Finance related matters for the Global Functions.
• Ensure compliance of statutory requirements across MGN entities.
• Lead strategic projects driving transformation towards digitalization.

Skills

Fluent in English

Analytical skills

Team management

Communication skills

Education

Qualified Finance professional (CPA a plus)

Job description

Job Purpose

• Responsible for managing all Finance related matters (including Budget & Planning, forecasting, Strategy & advice, financial and non-financial MIS Reporting, cost efficiency support) matters of the 11 Global Functions (headed by EXCO members) and the 3 MGN entities (India, Pakistan and Egypt). This function is also responsible for Transfer pricing within Mashreq and Cost Allocation (working closely with Tax and other Finance departments).
• Reporting directly to the Group CFO of Mashreq and serving as an integral part of his senior management team.
• To ensure alignment of Group/Division plans and objectives with the corporate strategic priorities and to review, analyze, and provide feedback/recommendations to CFO and Group/Division Heads on their business performance.
• Review the MBO (performance) presentations of Functions and accompany the respective Group Head (EXCO member) during their performance review with Mashreq’s Group CEO, on a periodic basis.
• Oversee the Company Secretarial Function for MGN India (1900+ Resources), for Tax, Transfer pricing, Finance, Governance, Board meeting, AGMs, and Banking. Also responsible for periodic update of the Statutory audits and financial accounts of the company, across all the 3 MGN entities as per local laws.
• Owner of the Authority Delegation Matrix (ADM) within Mashreq globally.
• To develop, implement and manage methodology, policies and procedures relating to bank wide (global) planning of Headcount, Capex & Expense and its related MIS and ensure that the processes operate efficiently and in conformity with changing business needs.

Key Result Areas

Finance Support and advisory

• Manage the process of formulating Group’s Strategic plan and performance measurement system.
• Carry out the strategic plan exercise and encourage discussions on business strategies, challenge the assumptions and provide feedback.
• Work with Group heads (EXCO members) of 11 Global Functions & their Direct Reports across countries, to ensure alignment with the Groups’ objectives and provide finance support on strategic & transactional matters.
• Ensure timely delivery of Global Functions’ financial results and conduct periodic performance tracking against established financial objectives. Identify and monitor Key indicators that Global Functions must manage to achieve the strategic and financial plan.
• Highlight opportunities / threats and drivers of performance vs Plan and trends to Group heads of the various Global Functions.
• Support by working closely with Group head of Global Functions on all strategic projects & matters including cost saving initiatives.
• Introduce value added MIS, analysis, and new techniques to facilitate business decisions.Enhance quality of monthly financial analysis and reports to management for group/division and product performance review and to support business decisions.
• Strategic evaluation of Offshoring / Outsourcing / Insourcing model at various points of time to ensure for better cost management.

MGN Support and Governance

• Lead the finance of all the 3 MGN entities (India, Pakistan & Egypt), ensuring compliance of all statutory requirements including Income Tax, Service Tax, VAT, Transfer Pricing, Regulatory Audit, Statutory Compliance, Customs, Excise laws, etc.
• The company is audited via internal and external auditors, tax authorities etc., and the key role are to ensure financial controls and Governance are in place.
• Oversee the Company Secretarial Function of MGN India. Prepare and Conduct Board Meetings, AGM, Recording of Board minutes, Tracking minutes and its related compliance.
• Manage the Cash Flow of the MGN and optimize the use of Liquid assets to ensure for higher return.
• Establish Clear process for various financial and Governance risks and ensure all necessary risk mitigant measures are put in place.
• Effectively manage financials for timely delivery and consolidation of financials with Head Office, management accounting.

C.Expense ADM Management

• Provide global oversight of the Authority Delegation Matrix (ADM) Function for Mashreq, driving its effective governance, seamless integration, and continuous enhancements within the procurement system to strengthen compliance, operational efficiency, and decision-making agility.

Group Consolidation & Reporting – Headcount, Capex & Cost

• Develop / automate and manage the Management Accounting processes (including Cost allocation), Budgetary System and related reporting to provide senior management with financial information for decision making.
• Ensure compliance to management accounting and international accounting standards adopted by the bank.
• Manage the deployment and enhancement of systems, tools, and techniques for consolidated reporting.
• Identify tools to manage the overall costs and provide strategic cost savings opportunities across business groups.
• Partnering with the transformation office the governance and control relating to Tech projects and programs within Mashreq.

Strategic Projects

• Being a key factor in driving the transformation towards full digitalization and AI within Finance (including coming up and implementing new solutions).
• Manage / Facilitate strategic projects (e.g., core banking/ ERP replacement, etc.) & other ad-hoc requirements from Group Heads / GCEO.
• Be a member of Steering committees and working committees in these strategic projects leading the finance stream.

Operating Environment, Framework and Boundaries, Working Relationships

• Direct interaction with Group heads and Senior Managers for Strategic and Annual Planning, Management Accounting and Reporting.
• Management by objectives and Profitability Measurement is provided directly to Group Heads and senior managers for strategic business decisions. It is the primary source of financial management information, which requires accuracy, consistency, timeliness, and confidentiality. Direct interaction with Finance personnel / Senior / Middle / Management across all Group / Divisions and Planning Coordinators. Close liaison with Central accounts (CAD) and various units providing inputs is essential.
• Operates in complex environment that are characterized by diverse local regulations, thus requiring multi-jurisdictional knowledge, in addition to in-depth familiarity with corporate policies and procedures. Interaction also extends to liaising with vendors of various systems implemented and functional consultants.
• The job is guided by overall business strategy and requires working in a very dynamic environment requiring, effective management of the changing business requirements, on a real time basis.
• Cross Functional impact of all global functions is carried out by the department. Strong collaboration and working relationships are required with Group Heads (EXCO members), coordinators of each Group/Division for Planning, MIS and MBO, etc. All inputs and outputs are from / to sources outside the division. This requires close coordination and relationships with several sources due to tight deadlines and accuracy of information and analysis provided. Significant amount of information is provided to external sources outside the department. Also support and analysis is provided to consultants on a variety of requests.
• Problem Solving
• Nature of job is complex, and major issues are confronted due to the cross functional nature of virtually all functions carried out by the department.
• Meeting the complex and varied nature of requirements of various users, the job demands high level of technical and analytical skills to transform data into intelligence.
• The role requires constant seeking of problems that are not repetitive and should consider alternative solutions and evaluate their consequences.
• The Job requires constant evaluation of finance policies and set up new policy framework and objectives to better suite present-day business environment within the overall regulatory and policy compliance.
• Recommend solutions to financial inefficiencies, process improvements, cost management, etc.
• Decision Making Authority & Responsibility
• Custodian (including decision making) for Management Accounting and Reporting, Cost Allocation, Strategic and Annual Plan. Responsible for the alignment of Group / Division Plans with Bank’s overall goals/strategic priorities.
• Responsible for quality and timeliness of analysis and reports to senior management.
• Determine external sources of information and data gathering.
• Responsible for integrity and accuracy of information, both domestic and international branches.
• Responsible for establishing and monitoring Budgetary Controls within all support Functions.
• Responsible for completion of special projects undertaken from time to time.

Knowledge, Skills, and Experience

• Fluent in English (and preferably also Arabic).
• A qualified Finance professional with over 20+ years of experience having sound analytical skills and knowledge of Finance Analysis, Planning, Accounting and Management Accounting.
• Proven experience in Finance in general (CPA a plus), cost management, business partnering and working with various cultures.
• Extensive experience in International Banks preferred.
• Proven experience in Digitalization, (gen) AI preferably also in Agile.
• Can lead well diverse team across various geographies and culture.
• Experience and knowledge of banking products dynamics, procedures, and related accounting. Taxation, Governance & Indian Company & Tax laws.
• Excellent strong inter-personal, communication, Organizational and presentation skills required to interact with and provide information to Group Head for strategic business decision. Experience in designing management reports based on accounting data required.
• Sound knowledge of financial analysis, planning, accounting, and performance management, with high analytical skills to transform data into meaningful information for decision making.
• Modern Leader, meaning: inspiring seasoned manager with an eye for talent, execution focused, able to work with senior stakeholders (like GCEO and EXCO members).
• Self-motivated and dynamic thinking, creative and committed to success.
• Effective leadership and team management skills.
• Project management skills to coordinate and deliver on critical projects.
• Experience in working with external management consultants.
• Must be able to work under pressure and within short / challenging deadlines