Assistant Manager Finance | RAKBANK
Company Name: RAKBANK
Qualification: ACCA, CPA, ACA, & MBA
Location: Dubai, United Arab Emirates
Salary Range: 16,000 AED – 20,000 AED
Company Size: 500 – 1000 Employees
Other Benefits: Medical Insurance | Bonus
Employment: Full Time
About Company
RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including retail and business banking, credit cards, loans, investment services and wealth management.
In the recent years, the Bank has achieved significant milestones which includes being named as one of the world’s best banks by Forbes ME (2022) and was awarded UAE’s SME Bank of the year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending and business loans.
Job Description/Role
What You Will Be Doing
- Reviewing and applying VAT in Profit & Loss (P&L) accounts.
- Assigning tax categories after reviewing accounts and ensuring VAT compliance for returns.
- Managing and overseeing VAT return activities and Tax Invoicing.
- Developing process notes for VAT-related activities and addressing any identified gaps.
- Ensuring timely completion of all VAT-related month-end processes.
- Preparing annual VAT wash calculations and special method workings.
- Facilitating and supporting VAT and FTA audits.
- Advising on VAT management and compliance for various business units.
- Acting as the VAT Subject Matter Expert (SME) for queries and process enhancements.
- Reviewing agreements for VAT implications and handling Tax Residency Certificates (TRC) applications.
- Conducting periodic reviews and managing notifications for Economic Substance (ES) and Country-by-Country Reporting (CBCR).
- Staying updated on VAT rules and providing training to teams on compliance.
- Coordinating with consultants and auditors for VAT advisory functions.
- Managing VAT automation processes and internal controls.
- Reviewing other applicable taxes like Withholding Tax (WHT).
What You Should Have
- Chartered Accountant qualification.
- Knowledge of VAT law and regulations.
- 10-12 years of experience in Banking & Finance.
- Knowledge of banking systems and products.
- Understanding of regulations/standards related to TAX.
What We Are Looking For
- Ability to understand VAT law and effectively implement it to ensure compliance.
- Ability to visualize potential real-life end-to-end business scenarios to ensure VAT compliance.
- Ensuring that products and services meet customer expectations and are simple and easy to use.
- Examining detailed real-life business scenarios, making recommendations, and proposing appropriate solutions.
- Communicating effectively and efficiently through both verbal and written forms.
- Gathering, analyzing, and evaluating information to make appropriate business decisions within the applicable framework.
- Working effectively under pressure, managing constraints often outside of control, such as resources, tight timelines, and task complexity.
What’s In It For You
- Pay for performance culture (Competitive and performance-linked compensation)
- Provision of medical care plan for your family and you
- Comprehensive Life insurance plan
- Diverse workforce and inclusive culture
- Career development and growth opportunities by design
- Work with the best minds in the field
- Get opportunities to bring your whole-self to the organization and perform to your best