Manager - Cost and Performance Management

Abu Dhabi Commercial Bank; Abu Dhabi; On-site; AED 200,000 - 250,000; Full time

Job summary

A banking institution in Abu Dhabi is seeking a Manager for Cost and Performance Management. The ideal candidate will have at least 5 years’ experience and a relevant Bachelor’s Degree. Responsibilities include overseeing financial reporting and cost management, ensuring compliance, and providing insights into financial performance. The role offers a competitive salary, comprehensive benefits, and opportunities for learning and development.

Benefits

Competitive Salary

Comprehensive Benefits Package

Flexible and Remote Working Options

Learning and Development Opportunities

Qualifications

• At least 5 years of experience in relevant field.

Responsibilities

• Overseeing cost management, financial reporting, and management reporting.
• Preparing consolidated financial statements in compliance with accounting standards.
• Analyzing segment financial performance to support reporting requirements.
• Monitoring and tracking key financial risks including profit rate risk.

Skills

Financial Accounting and Reporting

Performance Management

Knowledge of Financial Tools

Basel Guidelines

Internal Control

Managing Quality and Risk

Education

Bachelor’s Degree in relevant field

Job description

Manager - Cost and Performance Management

Embark on a journey where your unique contributions are celebrated, and your professional growth is embraced. At ADCB, we nurture a diverse, inclusive community where every voice is valued.

About the business area - Group Risk Management

ADCB prioritises a disciplined approach to risk, recognising its fundamental importance to the Bank’s long-term organisational and financial resilience. Group Risk Management oversees the implementation of ADCB's risk objectives, identifying and addressing gaps in the bank's risk infrastructure/framework. Their responsibilities include nurturing the independence of the risk function, establishing provisioning policies, and introducing changes to energise risk awareness among front office personnel and decision-makers. Continuously tuning the risk organisation in line with market best practices, they manage ADCB's portfolio and associated risks to international standards, while establishing a clear risk culture across all areas of operation.

In this role, your key responsibilities include:

• The role holder is responsible for overseeing cost management, financial reporting, and management reporting within the organization. This includes ensuring accurate accruals for General and Administrative (G&A) expenses, managing prepayments and advances, maintaining amortization schedules, and conducting regular reviews of expenses. The role also involves monthly reconciliation of accruals and prepayments, managing cost and revenue drivers, and identifying risks and opportunities through close collaboration with stakeholders. Additionally, the position requires preparing consolidated financial statements in compliance with accounting standards and applicable laws, while ensuring financial integrity and effective reporting. The holder will monitor performance, liquidity risk, and profit rate management, contributing to the overall financial health and regulatory compliance of the organization.

Customer / Stakeholder

• Ensure to track and setup intuitive MIS for management decision making, provide flash reports and results in timely manner.
• Work closely with ALM Operations – System Support on profit rate & liquidity risk models and reports requirements.
• Work closely with Financial and Management Reporting departments of Parent for effective financial and management reporting.
• Work closely with internal (Business segments) and external (external auditors) stakeholders for effective cost management, financial and management reporting and support business functions with MIS queries.

Processes Cost Management

• Invoice Accuracy & Allocation: Ensure the accuracy of invoices from vendors, allocating all expenses to the correct General Ledgers (GLs) and cost centres.
• Invoice Query Resolution: Liaise with the Budget Control and Payments teams to resolve invoice queries from external parties. Handle all invoicing-related inquiries from bank staff and Group Finance.
• Month-End Reconciliation: Manage month-end reconciliation of payments in collaboration with Group Finance, ensuring all transactions are accurate and timely.
• Accruals & Project Costs Review: Conduct regular reviews of accruals and track project-related costs, ensuring timely and accurate reporting.
• Transaction Reconciliation & Reporting: Prepare reports and reconciliations to ensure accuracy of all transactions related to cost management.
• Prepayment & Amortization Management: Review prepayments and initiate amortization processes with proper expense allocations.
• Annual Budget Preparation: Assist in the yearly cost budget preparation, ensuring that numbers are validated and supported by robust controls in coordination with relevant business units.
• Forecasting Operating Expenditures: Prepare forecasts for the bank’s operating expenditures and validate them through detailed controls in collaboration with business stakeholders.
• Capex & Project Tracking: Manage monthly tracking of Capital Expenditures (Capex) and related projects with stakeholders, ensuring adequate controls are in place.
• Cost Driver Development: Develop and monitor key cost drivers related to the bank’s operations, identifying risks and opportunities by regularly reviewing actual costs in partnership with relevant stakeholders.
• Opex & Capex Utilization Tracking: Ensure the timely tracking and reporting of Operating Expenditures (Opex) and Capital Expenditures (Capex).
• Fixed Asset Management: Oversee fixed asset transactions, ensuring they are recorded and accounted for in accordance with the bank’s policies.

Financial Reporting

• Consolidated Financial Statements: Prepare consolidated financial statements for the Group (including the bank and its subsidiaries) in compliance with relevant accounting laws, regulatory standards, and Group policies. Submit the prepared statements for review by Head of Financial Reporting.
• Reporting Procedures & Internal Controls: Implement and maintain reporting procedures that ensure compliance with internal control requirements, safeguarding the integrity of financial data.
• Accounting Guidance: Provide guidance to business units on the accounting treatment of revenue, ensuring alignment with financial and accounting standards.
• Accounting for New Products: Manage the accounting entries for new products and initiatives, ensuring they are properly documented and approved by relevant stakeholders before implementation.
• Month-End & Year-End Closing: Drive the month-end and year-end closing processes, ensuring that all accounting activities are completed in a timely and accurate manner.

Performance Management

• Segment Financial Performance Analysis: Analyze segment financial performance to support both statutory and management reporting requirements, providing insights into the financial health of each business unit.
• Target Performance Tracking: Track and monitor target performance, ensuring alignment with financial and strategic objectives. Actively participate in business planning, budgeting, and forecasting processes.
• Balance Sheet Planning & Forecasting: Contribute to balance sheet planning, budgeting, and forecasting, ensuring financial assumptions are accurate and aligned with business goals. Participate in balance sheet management benchmarking to assess financial performance.
• Asset Liability Management (ALM) & Reporting: Provide support to the Asset-Liability Committee (ALCO) with respect to all ALM-related reporting, ensuring accurate benchmarking of the bank’s and Group's financial position and performance.
• Budget & Forecast Support: Liaise with business groups to support the yearly budgeting process and provide requested forecasts, ensuring all financial assumptions are properly validated and aligned with strategic goals.
• Board of Directors Presentations: Prepare and present timely and accurate financial reports to the Board of Directors (BOD), including updates on the bank’s financial position, performance, and budget variations. Provide clear analysis and recommendations where applicable.
• Financial Modelling: Develop and maintain financial models to simulate multiple business scenarios, providing insights that facilitate informed decision-making across the organization.
• Profit Rate & Liquidity Risk Management: Monitor and track key financial risks, including profit rate risk, net profit income management, and liquidity risk related to the balance sheet. Ensure risk factors are actively managed and reported to relevant stakeholders.

The ideal candidate should have the following experience

• At least 5 years of experience in relevant field
• Bachelor’s Degree in relevant field
• Knowledge of Financial Tools
• Basel Guidelines
• Internal Control
• Financial Accounting and Reporting
• Performance Management
• Managing Quality and Risk

What we offer:

• Competitive Salary & Additionally, all employees are eligible to participate in one of our rewarding variable pay plans.
• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.
• Learning and Development Opportunities: We value and facilitate continuous learning and personal development through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-learning catalog, on-the-job training, and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.