Financial Reporting Specialist

**Job Overview:**

The Assistant Manager – Financial Reporting plays a pivotal role in overseeing financial reporting activities, ensuring compliance with relevant IFRS and local regulatory requirements, and enhancing financial reporting accuracy. This role involves participating in the strategic planning process and coordinating the budgeting and forecasting process of the organization.

Key Responsibilities:

• Financial Reporting and Regulatory Compliance:
  • Prepare/Review the skeleton financial statements for both consolidated and Islamic entities and discuss and get approval for changes, if any, from Senior Manager, Financial Reporting, Head of Finance, and the auditors of the organization.
  • Prepare/Review the organization's financial statements for both consolidated and Islamic entities, both quarterly for FSA as well as annual financial statements, in compliance with IFRS/AAOFI framework, based on the skeleton agreed as above.
  • Coordinate with statutory auditors for smooth completion of quarterly reviews and audit within prescribed deadlines and in compliance with statutory regulations. Also interact with other departments for smooth flow of information as requested by external auditors for completion of their work.
  • Prepare Board presentations, rating agencies presentations, and prepare any other information requested by Board or Executive management.
  • Review investment sheet on a monthly basis and prepare investment performance summary for inclusion in EMC and ALCO meeting.
  • Support in BBB and General insurance (Property Insurance, Cyber Crime, EEI Policy, CGL, and Travel Policy) annual renewals.
  • To adhere to FSA, MSX, and CBO guidelines for financial reporting.
  • To ensure year-end deliverables of annual report, summary annual report, MD&A both in English and Arabic are completed in an efficient and timely manner.
  • To spearhead all Arabic translations of the organization on a quarterly and annual basis.
• Investment Accounting and Operational Support:
  • Preparing the monthly investment portfolio sheet in coordination with Treasury Bank Office (TBO) using reports received from them and ensuring that the portfolio is up-to-date and complete, and all entries relating to purchase, sale of equity, gain or loss on sale of investments, dividend received, and revaluations have been accounted for on a timely basis.
  • Recommending GL accounts opening in core banking systems for investment-related activities on TBO request.
  • Assist product team and IT department for any product development in the system by providing GL parameters/accounts/involvement in testing.
  • Driving automation initiatives for financial reporting team.
  • Submitting quarterly and annual financial statements in FSA XBRL Portal to ensure compliance with reporting requirement.
  • To perform variance analysis and monitor movements in BS and PL on a quarterly and annual basis and keep reasons for movement ready for responses for CBO and audit team.
  • Publication of financial statements on a quarterly and annual basis as per CBO/MSX requirement.
  • Year-end liaising with regulatory reporting and CBO team.
• Technical Knowledge and Professional Development:
  • To keep abreast of the latest changes in IFRS and AAIOFI to enable effective financial reporting.
  • To keep updated on changes in FSA/MSX or CBO guidelines in relation to financial reporting.
  • To improve understanding of organization's policies/procedures.
  • To coordinate with HR/IT for regular training on updated versions of systems used.
• Compliance, Budgeting, and Interdepartmental Coordination:
  • To ensure compliance with organization rules & regulations & staff conduct policies.
  • To liaise with CBO examiners jointly with Management Accounting team and coordinate with other departments in order to provide required information and provide all returns/forms required from Finance Department.
  • To assist in Annual Business Budget/Plan.
  • To maintain operational standards and safeguards the organization from loss and fraud.

Requirements:

• Degree in Finance or Accounting with minimum 3-5 years in financial reporting as per IFRS, preferably in a bank or listed companies with total of 5 years of working experience.
• Professional qualification like ACCA/CA/CPA would be an added advantage. Candidates pursuing ACCA/CPA or Master's degree can also apply.
• Strong communication and engagement skills – written, oral, and presentation.
• Highly competent in the use of Microsoft Office – Word, Excel, and PowerPoint, MS Project.