Accounting and Reporting Analyst

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time
IDB3168 - Accounting and Reporting Analyst

Business Unit: Finance & CFO

Division: Accounting and Reporting

Job Purpose:
  • 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 Trust Funds under the management of the 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.
Key Accountabilities:

Account Management

  • 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 forthe 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.
  • 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.
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.
  • Accounting.
  • Strong MS Excel and ERP skills and experience.
  • Audit Operations.
  • Report Writing.
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