Specialist, Accounting & Control

FAB; Abu Dhabi; On-site; AED 180,000 - 280,000; Full time

Job summary

FAB in Abu Dhabi seeks an experienced specialist to ensure efficient controls over accounting operations, manage reconciliations, and coordinate with IS, Custody, GAM, and IPO teams. The role involves risk assessment, testing standards, and ensuring timely month-end processes within the Core Banking System.

The candidate will support FCIS management, prepare MIS/KPIs, and liaise with banks and stakeholders to resolve issues and maintain regulatory compliance.

Responsibilities

• Control of Daily, Weekly, Monthly and Quarterly reconciliation including, Interbranch /Sundry / Suspense /Call accounts to be reviewed and checked by Section Head, ensuring escalation of all mismatches.
• Provide services to IS and Custody business, and GAM with regards to validation of financial transactions on Core banking system.
• Provide services to IS and Custody business, and GAM with regards to executing non-financial transactions on Core banking system.
• Coordinating with Issuer of Convertible Notes (GMO) and IS for buy back transaction, ensure that reconciliation of records is conducted on monthly basis.
• Ensure that preparation and execution of End & Beginning of Month tasks are completed on time.
• Effectively communicate with local & foreign banks, customers and departments within the bank to resolve queries at the earliest & in the most appropriate manner.
• Assist Section Head on procedure updates and preparation of SLAs for new services and implementation of existing SLAs with SSO Stakeholder and Service Providers.
• Be the first contact with Reconciliation Department on behalf of SSO for reconciliation of Custody, GAM, & SFAS accounts on daily and weekly basis and ensure that all outstanding items are cleared by following up with concerned department.
• Meet regularly with Section Head to determine priorities and solving possible problems and risky areas.
• Arrange for conducting of un-announced check on Issuer Services & IPO Section, ensuring that control on place on the blank cheques and blank certificates and examining the whole cycle of printed and delivered available under Issuer Services Team custody.
• Assist the Section Head Accounting and Control in preparing the MIS and KPIs for the Accounting Section.

Job description

• Thespecialist role is to ensure efficient controls applied over the operational activities of the accounting section to provide the best services to the internal and external customers.
• Identifying and resolving workflow and production issues.
• Addressing and discussing risk exposures issues in the areas which the team acts as independent controller and propose solutions with SSO managements.
• Develop and establish measures and testing standards for new applications, product or enhancements to existing applications through their development / product life cycle.
• Analyse documentation and technical specifications of any new application under deployment or consideration to determine its intended functionality.
• Ensure that testing activities allow applications to meet business requirements and system goals, fulfil end user requirements, and identify existing and potential issues.
• Report and escalates issues of concern or risk to the FCIS management.
• Acts as independent controller during the IPO (Initial Public Offering) to ensure that control aspects are covered by the IS team in regard to theOnline subscription account, RD matching status reports and the IT reports to ensure that there is no outstanding applications / funds not executed during the exercise.
• Managing transactions of SSO related activities on Core Banking System, ensuring their successful settlement, avoiding loss and penalties to the bank and clients that could cause the bank Reputational, Financial and Operational Risk.
• Manage the interest calculation of the short-term deposits and long-term deposits related to ADX listed companies and ensure that interest is paid as per the agreement between FAB and ADX and the rates are captured correctly in the core banking system.
• Support all Non –Financial transactions processed through Core banking system for the Issuer Services & Custody Businesses, and Asset Management Group.
• Verify account opening documents to meet the bank procedures requirements.
• Verify correctness of information captured in core banking system.
• Verify mandates to request amendments on static data and verify correctness of amendments as per customer requests and instruction in terms of the bank amendment procedures and checklist.
• In charge of daily Reconciliations of custody client cash and securities positions as Local & Global Custodians on a variety of systems.
• Accounting team supports the Section Head in his/her role as ORM and BCP coordinators for SSO.
• Accounting team performing the Account ownership and Verification of all internal accounts used by the department by reconciling and reviewing the daily, weekly, and monthly reconciliation and reporting of the businesses units GLs and financial status and ensure that proper RAG is provided for accounts with mismatch or disputed amounts during AOV monthly update.
• Report and escalates issues of concern or risk to the FCIS management.
• Liaise with VAT team in relation to the preparation of the VAT treatment memo on SSO processes.
• Creating training materials and process manuals.

Key Accountabilities:

Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that work is carried out in a controlled and consistent manner.

Demonstrate compliance to organization’s values and ethics at all times to support the establishment of a value drive culture within the bank.

Contribute to the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.

Reporting

Assist in the preparation of timely and accurate statements and reports to meet department requirements, policies and quality standards.

Job Context:

Tasks:

• Control of Daily, Weekly, Monthly and Quarterly reconciliation including, Interbranch /Sundry / Suspense /Call accounts to be reviewed and checked by Section Head, ensuring escalation of all mismatches.
• Provide services to IS and Custody business, and GAM with regards to validation of financial transactions on Core banking system.
• Provide services to IS and Custody business, and GAM with regards to executing non-financial transactions on Core banking system.
• Coordinating with Issuer of Convertible Notes (GMO) and IS for buy back transaction, ensure that reconciliation of records is conducted on monthly basis.
• Ensure that preparation and execution of End & Beginning of Month tasks are completed on time.
• Effectively communicate with local & foreign banks, customers and departments within the bank to resolve queries at the earliest & in the most appropriate manner.
• Assist Section Head on procedure updates and preparation of SLAs for new services and implementation of existing SLAs with SSO Stakeholder and Service Providers.
• Be the first contact with Reconciliation Department on behalf of SSO for reconciliation of Custody, GAM, & SFAS accounts on daily and weekly basis and ensure that all outstanding items are cleared by following up with concerned department.
• Meet regularly with Section Head to determine priorities and solving possible problems and risky areas.
• Arrange for conducting of un-announced check on Issuer Services & IPO Section, ensuring that control on place on the blank cheques and blank certificates and examining the whole cycle of printed and delivered available under Issuer Services Team custody.
• Assist the Section Head Accounting and Control in preparing the MIS and KPIs for the Accounting Section.