Islamic Development Bank
- Review and ensure compliance to Financial Accounting standards by AAOIFI and International Financial Reporting Standards(IFRS) for all general ledger transactions for the Bank and Trust Funds.
- Prepare accurate financial statements for the Special Purpose Vehicles (SPV) (AUM > US$15bln) and the Trust Funds (AUM > US$5bln) in accordance with AAOIFI.
- Perform advanced financial analysis for the Bank’s Ordinary Capital Resources (AUM > US$25bln) and various Special and Trusts Fund under the management of Financial Control Department.
- Advanced knowledge of all relevant IFRS and AAOIFI accounting standards and a working knowledge of the Bank’s SAP financial reporting system.
- Review and clear all treasury and investments related financial transactions for posting in SAP-GL for all company codes.
- Undertake analysis and recommend corrective measures to improve accuracy and completeness of financial statements.
- Monitor the recording of financial transactions related to IsDB treasury, funding, and investments in Misys.
- Generate income accruals from Misys for all treasury investments and make posting on SAP-GL.
- Review inter-fund reconciliations, resolve related issues, and follow up for the timely settlements.
- Monitor technical clearing accounts related to treasury investments and Project Assets.
- Compilation of the various Audit and Pension Committee reports for the assigned entities together with detailed financial analysis, commentary, and recommendations (if required).
- Development and formulation of appropriate financial performance indicators to be included in the Bank’s annual report.
- Determine appropriate and relevant financial analysis metrics to adequately assess the financial performance of the relevant entities.
- Develop meaningful and user-friendly financial analysis reporting packs for each reporting entity.
- Provide accurate and timely financial analysis and other information on Treasury, Investment, and funding portfolio performance.
- Carry out periodic analysis of treasury investments, equity and other investments and funding instruments.
- Provide regular detailed analysis of the Fund’s financial performance to management.
- Preparation of monthly, quarterly, and annual financial statements with all the required disclosures for the assigned Bank entities.
- Prepare financial statements for the assigned funds and SPVs, in accordance with applicable IFRS/AAOIFI standards.
- Manage and finalize audits of the Funds and SPVs’ financial statements.
- Develop appropriate financial statement formats in accordance with relevant accounting frameworks for any newly created funds/entities.
Policies & Procedures:
- Participate in formulation and implementation of policies and procedures for the division.
- Ensure that all financial transactions comply with Generally Accepted Accounting Principles (GAAP).
- Formulate appropriate accounting frameworks in response to the introduction of new IFRS and AAOIFI standards.
- Coordinate within the department as well as all other relevant stakeholders to establish a framework of internal controls over the financial transactions of all departments to adequately safeguard assets and efficiently manage the liabilities.
Reporting & Communication:
- Prepare all Treasury, Investment and Funding related information and reports as per FCU requirements for the annual rating of the Bank.
- Prepare monthly financial reports on the Funds and highlighting areas of concern, if any.
- Prepare monthly and quarterly financial analysis and reports on the financial statements.
- Prepare ad-hoc reports/technical papers as and when required by management.
- Coordinate between internal departments & external auditors and follow up with the relevant departments on audit recommendations.
- Development and preparation of relevant reporting templates, data and other necessary detailed information needed for the Bank’s credit rating exercise, external consultants for sukuk issuances and annual actuarial valuation exercises.
- Contribute and support Bank wide initiatives with respect to system enhancements, new system integrations and system corrections
Education, Experience & Certification:
Academic and professional qualifications:
- Bachelor’s degree in Accounting, Finance, Business Administration, or related field.
- Certification in CA, CMA, ACCA, CPA or CIPA is preferred.
- Minimum 5 years of experience in finance and accounting, preferably in a Multilateral sector or large Global organization.
Skills & Necessary Knowledge:
- Building Relationships
- Passion for Excellence
- Analytical Thinking
- Problem Solving
- Knowledge of Development Sector
- Strong MS Excel and ERP skills and experience.
- Financial Management
- Financial Reporting
- Financing Instruments
- Audit Operations
- Report Writing
- Product Knowledge in Islamic Finance, Sukuk, Murabaha etc.
- English ( Mandatory )
- Arabic ( Preferred )
- French ( Preferred )
How to apply
Please follow the link http://www.isdbcareers.com/careers/isdb/VacancyDetail.aspx?VacancyID=163513
Deadline: 26 Mar 2023