Senior Officer Financial Reporting – Dubai Islamic Bank
A well-known and well-reputed Company based in Dubai, United Arab Emirates is looking for an experienced, skilled, competent, mature, qualified, creative, and intelligent candidate with significant knowledge and relevant working experience for the position of “Senior Officer Financial Reporting”.
| Company Name | Dubai Islamic Bank |
| Qualification | Masters Degree | ACCA | CPA | ICAEW |
| Experience | 5 – 6 years of Relevant Experience Required |
| Monthly Salary | 15,000 AED – 18,000 AED |
| Employment Type | Full Time | Permanent |
| Company Size | 50-100 Employees |
| Benefits | Medical Insurance | Accommodation |
| Location | Dubai |
Job Duties and Responsibilities:
To assist in the Group Consolidation function to ensure the timely compilation of the monthly financial information of the Bank and all of the subsidiaries.
To support in the preparation of quarterly and annual consolidated financial statements for the Group in accordance with International Financial Reporting Standards (IFRS) and UAE Central Bank’s rules and regulations.
Group Consolidation Process
Updating Group Financial Reporting Package and instructions and circulating to all group entities.
Coordinating with all group entities submit reporting package and other deliverables within the due date.
Uploading monthly financial information of the Bank and other non- HFM subsidiaries are in the Hyperion Financial Management (HFM) for consolidation purposes.
Assisting in preparation of quarterly group consolidation working in accordance with International Financial Reporting Standards (IFRS) / International Accounting Standards (IAS) within the stipulated deadline.
Preparation of the high-level variance analysis for significant movement in the consolidated financial statements.
Financial Reporting
Provide full assistance in the preparation of the Group’s consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS), rules and regulations of the UAE Central Bank, and all other related rules and regulations.
Collecting and summarizing data used in the preparation of the financial statements and disclosures in order to validate the accuracy of such data.
Coordinate and follow-up with all concerned subsidiaries within the Group to ensure that consistent accounting policies are applied in the preparation of the financial information.
Collecting and summarizing data for external auditors of the Bank to ensure smooth conduct of the audits and issuance of the financial statements within the proposed timeframe and deadlines.
Coordination with the Internal Auditors and Dewan Auditors for their audits.
Basel Reporting
Responsibility for computing Capital adequacy ratio of the Bank in accordance with UAE Central bank and BASEL III guidelines.
Determining, understanding, and explaining clearly key variance drivers in Credit and Operational Risk-Weighted Assets measures based on balance sheet dynamics and portfolio mix.
Provide regulatory interpretive guidance based on enhanced understanding of Basel and other relevant regulatory regimes.
Preparing high-quality presentations for key management in Finance and Risk.
Identify opportunities to improve data quality, efficiency, and regulatory capital optimization.
Policies, Procedures and System Review
Updating the policies and procedures manuals and recommend the necessary changes, amendments & updates in the policies and procedures, and coordinate with relevant units within Finance Department for updating.
Assist in automation initiatives and participate in providing business specifications, testing, and other related activities.
Coordinating with business units in setting up the new products on the Core Banking System and specifying the accounting entries and information requirements for MIS purposes.
Others
Collecting and summarizing information for Investor Relations unit / Rating Agencies.
Assist Risk to identify and define requirements and translate business needs into complex reporting data that could lead to an analysis of any reporting errors and recommendations of regular / Adhoc projects like Stress testing, Pillar II, Interest Rate Risk on Banking Book, and based on new guidance.
Assist in preparation of Expected Credit loss as per IFRS 9 for DIB Pakistan (Bank subsidiary) on a quarterly basis.
Assisting the Head of Financial Control / Manager – Financial Reporting with other Adhoc transactions and queries as and when required.
All the above accountabilities include but not limited to any additional/new tasks or responsibilities assigned by the Line Manager.