Manager – Financial Reporting

U Microfinance Bank Limited; Islamabad; On-site; PKR 4,200,000 - 6,400,000; Full time

Job summary

U Microfinance Bank Limited is seeking a Manager - Financial Reporting to lead the preparation and consolidation of statutory and management financial statements in line with IFRS/IAS and SBP guidelines.

The role requires hands-on experience with Oracle/SAP, robust GL reconciliations, and collaboration with auditors and cross-functional teams to ensure timely, accurate reporting.

Qualifications

• Professional accounting qualification required (CA/ACCA/ACMA/ICMA/MBA/M.COM or equivalent).
• Hands-on experience preparing statutory and management financial statements.
• Experience with ERP/financial reporting systems (Oracle/SAP) is mandatory.
• Familiarity with SBP regulatory and prudential reporting requirements.

Responsibilities

• Lead monthly, quarterly, and annual statutory financial statements in accordance with IFRS/IAS and SBP guidelines.
• Oversee general ledger reconciliations, ensure timely closing, and maintain robust controls.
• Ensure data integrity from core banking/subsidiary systems into the GL and automate reporting where possible.
• Coordinate with auditors and stakeholders across departments to address queries and provide documentation.
• Support month-end and year-end closing processes, including accruals and adjustments.

Skills

IFRS/IAS knowledge

GL reconciliations

Oracle/SAP proficiency

SBP reporting

Financial reporting automation

Education

CA / ACCA / ICMA / MBA / M.COM or equivalent

Tools

Oracle

SAP

Temenos T24 (banking system)

Job description

Position Summary

The Manager - Financial Reporting will be responsible for managing the financial reporting function of the Microfinance Bank, ensuring timely, accurate, and compliant preparation of statutory and management financial information. The role will oversee the preparation of financial statements, general ledger reconciliations, month-end closing activities, and financial reporting in accordance with applicable accounting standards, regulatory requirements, and State Bank of Pakistan reporting requirements.

The position requires strong knowledge of banking products and accounting as well as hands-on experience with financial systems such as Oracle and SAP.

Key Responsibilities

1. Financial Reporting

• Lead the preparation of monthly, quarterly, and annual statutory financial statements in accordance with applicable IFRS/IAS, regulatory requirements, and SBP guidelines.
• Prepare monthly management financial statements and financial reporting packs for senior management.
• Ensure completeness, accuracy, and timely closure of the general ledger and financial reporting process.
• Prepare and review financial statement schedules, supporting workings, disclosures, and management reporting.
• Analyze monthly financial results, including significant movements, variances, and unusual transactions, and provide explanations to management.
• Coordinate with relevant departments to obtain financial information and ensure timely reporting.

2. General Ledger & Reconciliations

• Oversee and review GL reconciliations for major balance sheet and income statement accounts.
• Ensure timely identification, investigation, and resolution of reconciling items.
• Review suspense, clearing, inter-branch, and other control accounts for accuracy and completeness.
• Ensure appropriate accounting entries and adjustments are recorded during the month-end and year-end closing processes.
• Establish and maintain robust financial controls over the general ledger and reporting process.

3. Financial Systems & Data Integrity

• Demonstrate hands-on experience with financial systems, particularly Oracle and/or SAP, including GL, sub-ledgers, journal processing, reporting, and reconciliation processes.
• Work closely with IT and system teams to ensure the integrity and accuracy of financial data flowing from core banking and subsidiary systems into the general ledger.
• Review system-generated reports and accounting interfaces and investigate discrepancies between source systems and the GL.
• Identify opportunities for automation and process improvements in financial reporting and reconciliations.

4. Month-End & Year-End Closing

• Lead the month-end and year-end financial closing process.
• Ensure timely recording of accruals, provisions, adjustments, depreciation, amortization, and other closing entries.
• Review trial balances and ensure appropriate classification and presentation of balances.
• Ensure all reporting schedules and reconciliations are completed within established reporting deadlines.

5. Audit & Stakeholder Coordination

• Coordinate with external and internal auditors during statutory and other audits.
• Provide auditors with financial statements, reconciliations, schedules, and supporting documentation.
• Address audit queries and ensure timely resolution of audit observations.
• Liaise with business, operations, treasury, risk, IT, and other departments on accounting and reporting matters.

Key Requirements

Education

• CA / ACCA / ACMA / ICMA / MBA / M.COM or equivalent professional qualification
• Candidates who are CA Finalists with relevant banking financial reporting experience may also be considered.

Experience

• Strong hands-on experience in preparation of statutory financial statements and monthly management financial statements.
• Strong experience in GL reconciliations and month-end/year-end closing.
• Hands-on experience with Oracle, SAP, or comparable ERP/financial reporting systems is mandatory.
• Banking/core banking system experience, such as Temenos T24 or similar systems, will be an advantage.
• Banking experience will be preferred

Technical Competencies

• Strong knowledge of IFRS/IAS and financial statement presentation.
• Strong understanding of banking accounting and financial reporting.
• Excellent GL and balance sheet reconciliation skills.
• Strong analytical and variance analysis skills.
• Advanced Microsoft Excel skills.
• Hands-on experience with ERP/financial systems, particularly Oracle and SAP.
• Knowledge of SBP regulatory and prudential reporting requirements.
• Experience in financial reporting automation and process improvement will be an advantage.