Accounting jobs in Saudi Arabia

IDB3182 - Senior Accounting & Reporting Specialist

Business Unit: Finance & CFO

Division: Accounting and Reporting

Job Purpose:

• Prepare financial statements for the OCR (AUM>US$30bln) in accordance with IFRS and AAOIFI FAS.
• Perform advanced financial analysis of the various entities (AUM>US$5bln), prepare detailed technical accounting and reporting studies.
• Advanced knowledge of all relevant IFRS and AAOIFI accounting standards and a working knowledge of the Bank’s SAP financial reporting system.
• Formulate expert technical recommendations with regards to application of financial accounting standards.

Key Accountabilities:

Account Management:

Design, develop and Implement necessary operational procedures to meet complex accounting, reporting and disclosure requirements of the international accounting standards and AAOIFI.

Formulate appropriate accounting processes to ensure accuracy of financial statements prepared.

Review all financial transactions to ensure their compliance with Generally Accepted Accounting Principles and Practices.

Ensure compliance and conformance of all transactions with IsDB's rules, guidelines, and internal control systems.

Ensure effective integration of the Division's policies and procedures with SAP to make finance and accounting more SAP compliant.

Manage the project Income accruals process from CML for all Project Assets and postings to GL.

Run, verify, and post all foreign exchange valuations of the assigned entities.

Review balances of all technical clearing accounts relating to projects and ensure timely clearance.

Develop a wholistic view of the entities under management including operational, funding, treasury activities.

Preparation of complex monthly/quarterly and annual financial statements with all the required disclosures for the assigned funds/entities.

Lead research and analysis on relevant areas such as IFRS/AAOIFI accounting standards specific to financial accounting of the Bank and other funds.

Develop/Evaluate appropriate financial performance indicators to be included in the annual report.

Coordinate the annual Shari’ah clearance procedures between the Shari’ah Division and other relevant Bank departments.

Contribute in the preparation of IsDB's accounting policies in conformance with the International Accounting Standards like AAOIFI, IFRS and compliance with Sharia’h rules and guidelines.

Advise in the drafting and updating of policies on technical accounting issues related to complex transactions.

Coordinate with the team to establish a framework of internal controls over the financial transactions of all departments to adequately safeguard assets and efficiently manage the liabilities.

Provide technical guidance on interpretation of policies and procedures, relevant AAOIFI and IFRS pronouncements and legislative regulations applicable for the division.

Interpret complex disclosure requirements as per latest standards to ensure conformance with necessary audit requirements while preparing financial statements.

Oversee effective implementation of new statutory accounting standards after evaluating their impact on the relevant functional areas.

Reporting & Communication:

Manage applicable financial audits and conduct follow up with the Division on audit recommendations.

Manage the preparation of the relevant audit committee reports to be submitted to the Audit Committee of the BED.

Facilitate timely availability of the relevant data from other departments for the preparation of financial statements.

Represent IsDB at various external forums including regional and international events to establish a strong image of the Bank as a group.

Keep abreast with the latest regulations in the international markets and any other jurisdiction that may have an impact on the Group’s operations.

Prepare the relevant and necessary information needed for the Bank’s Rating Agencies and for Sukuk Issuance.

Education, Experience & Certification:

Academic and professional qualifications:

Bachelor’s degree in Accounting, Finance, or related field.

Certification in CA, CMA, ACCA, CPA or CIPA is preferred.

Minimum 8 years of experience in finance and accounting at senior roles, preferably in a Multilateral sector or large Global organization.

Skills & Necessary Knowledge:

• Strong MS Excel and applied SAP skills and experience.
• Building Relationships.
• Passion for Excellence.
• Analytical Thinking.
• Problem Solving.
• Knowledge of Development Sector.
• Accounting.
• Audit Operations.
• Report Writing.