Additional Director (OG-6)

State Bank of Pakistan; Karachi Division; On-site; PKR 1,800,000 - 3,000,000; Full time

Job summary

State Bank of Pakistan (SBP) in Karachi is seeking a senior finance professional for the position of Additional Director (OG-6) - Finance and Accounts. The role reports to the Director/Executive Director and carries a market-based salary and benefits.

The incumbent will oversee internal and external financial reporting, IFRS compliance, and policy development, while advising senior management on accounting, finance and tax matters and guiding budget processes for SBP and its subsidiaries.

Qualifications

• Master’s or Bachelor’s degree (with a minimum of 16 years of education) in Finance or Accounts or related field from a HEC recognized university or foreign university.
• Fellow membership of ICAP, ICMAP and/or equivalent foreign professional accounting bodies is required.
• Additional professional certifications like CFA, FRM, CIA would be preferred.

Responsibilities

• Oversee and ensure accurate and timely internal and external financial reporting, including preparation of annual financial statements of the Bank, getting them audited, and submission to the SBP Board.
• Devise accounting policies and procedures in accordance with the accounting framework of the Bank.
• Ensure financial reporting conforms with IFRS.
• Advise on accounting policies for new products as per the Bank’s framework.
• Advise senior management on accounting, finance, and taxation matters, including tax compliance.
• Oversee budget preparation and approval from the SBP Board for SBP and BSC.
• Supervise maintenance of the Fixed Asset Register and reconciliation of accounts with allied entities.

Education

Master’s or Bachelor’s degree in Finance or Accounts

Job description

State Bank of Pakistan (SBP) is looking for talented and dynamic professional for its finance function based in Karachi. It's a senior management position reporting to Director/Executive Director with market based salary and benefits.

Additional Director (OG-6) - Finance and Accounts

Key responsibilities of the incumbent will include, but not limited to, the following:

• Oversee and ensure accurate and timely internal and external financial reporting, including preparation of annual financial statements of the Bank, getting them audited, obtaining approval from the SBP Board, preparation of quarterly accounts of SBP, and submission to the SBP Board.
• Devise accounting policies and procedures in accordance with the accounting framework of the Bank.
• Ensure that financial reporting by the Bank is in full conformity with International Financial Reporting Standards (IFRS).
• Devise and advise accounting policies for new products as per the accounting framework of the Bank.
• Advise senior management of the Bank and its subsidiaries on all accounting, finance, and taxation matters, including compliance with tax laws.
• Oversee preparation and approval of the State Bank of Pakistan (SBP) and Banking Services Corporation (BSC) budget from the SBP Board.
• Oversee management of the Fixed Asset Register (FAR) and reconciliation of current accounts with allied entities, as well as payments to employees and suppliers of the Bank.
• Support the Director in all functional activities, including overall management and supervision of accounting activities of the Bank, financial reporting in accordance with IFRS, currency management, coordination for various audits, preparation of consolidated SBP budget and its ongoing monitoring, financial controls, and maintenance and reporting of Government Accounts and balances.
• Liaise with internal and external organizations such as the International Monetary Fund (IMF), Ministry of Finance (MoF), Economic Affairs Division (EAD), and donor agencies regarding disbursement and accounting treatment of foreign currency (FCY) funds under loans and grants.
• Supervise maintenance of Federal and Provincial Government Account balances, ensure timely reporting to relevant stakeholders, and oversee coordination in governmental automation projects.
• Provide support to the Director in matters related to the SBP Board and its committees.
• Undertake any other assignments as assigned by senior management from time to time.

Eligibility Criteria

Master’s or Bachelor’s degree (with a minimum of 16 years of education) in Finance or Accounts or related field from a HEC recognized university or foreign university.

Fellow member of professional accounting bodies such as ICAP, ICMAP and/or equivalent foreign professional accounting bodies.

Additional professional certifications like CFA, FRM, CIA would be preferred.

Compensation

Competitive market based compensation package backed by attractive salary and well-rounded benefits structure as per State Bank's rules.

We are an Equal Opportunity Employer. Females, candidates from minorities, transgender persons and persons with disability are encouraged to apply.

Any candidate who misinforms, attempts to influence the recruitment process in any manner, tries to obtain support for his/her candidature by inappropriate means or tampers with evidence of his/her age, educational and other certificates, shall be disqualified from the current and any future recruitment process at the Bank; even if the candidate is otherwise eligible. Candidate who fails to provide the required information or documents or does not meet the specified criteria as per advertisement shall be disqualified from the current drive.