About the Role:
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The role holder will have accountability for the on-time production and analysis of performance packs and the creation of effective, accurate, and user-friendly management information ("MI"). This position is critical for all financial performance reporting and analysis bank-wide, focusing on the preparation of annual plans, regular and reliable forecasting, business performance reporting, sales incentive validation, and expense versus budget monitoring. The role also involves project and cost management across the group.
This position will assist in translating business strategy into measurable objectives and metrics, enabling regular monitoring and performance measurement against business goals and strategy.
Principal Accountabilities:
- Work Management
- Financial Plans: Assist in the strategic and operational financial planning process, which includes plans at the bank level, business unit, performance unit level, bank-wide and cost center level expense plans, and branch budgets. Responsible for the financial forecasts of the bank.
- Business Performance and Insight: Responsible for the preparation and submission of monthly management reporting, ensuring deadlines are met, integrity and consistency of financial information, and usability for end users. This includes providing deep insights, scenario analyses, and recommendations to drive business performance aligned with enterprise strategic goals. Insights will span revenue, expense, capital, return on equity, regulatory, liquidity, and funding dimensions to support decision-making for new business propositions and product promotions.
- Net Interest Margin Analysis: Conduct detailed customer-level analysis of interest margins for all products, maintaining a model that simulates the impact of margin compression.
- Peer Group Analysis: Prepare a detailed pack comparing the company against Tier 1 banks and peer groups on various parameters, including five-year quarterly movements in revenue, expenses, operating profit, provisions, net profit, assets, loans, and deposits. Include comprehensive UAE Bank benchmarking on financial parameters such as return on asset, return on equity, dividend yield, price to earnings, market capital, loan and deposit market share, and price to book.
- Economic Updates: Support the preparation of Board and Investor packs with economic updates, including UAE purchasing managers index, GDP growth, CPI & inflation, oil prices, GDP by sector, growth in the economy, and the company’s corporate social responsibilities and awards.
- Cost Control: Support the Group's cost management framework to help control/manage costs (capex and opex). Manage the cost center structure with active business engagement to deliver cost reports and support achieving the bank's cost targets through adequate cost controls and transparency.
- Sales Incentives: Review sales incentive pay-outs, providing approvals and ensuring accuracy and compliance with pay-out policies. Maintain strict control on pay-outs by ensuring appropriate computation as per existing policies and challenge new proposed sales incentive policies.
- Financial Modelling: Prepare detailed financial projections and models for various business initiatives, evaluating financial returns and economic viability while considering risks and various scenarios.
- Projects and Transformation: Gather and consolidate accounting and financial information for management report preparation. Investigate and recommend improvements, coordinate with business owners to define methodology for new performance measures, and resolve issues across data sources and business requirements.
- Ad-hoc Requirements: Support ad-hoc business queries and return measurements to assist business managers with day-to-day operations.
- SOP: Ensure compliance with documentation standards and adhere to 'Departmental Operating Instructions' and 'Standard Operating Procedures.'
Requirements
- Education and Experience:
- Experience working in a chartered accountancy firm with 5-10 years of experience in financial services.
- Knowledge of banking products, planning, operations, profitability, performance analysis, MIS, and reporting. Ability to combine good financial acumen with accounting principles to contribute to banking strategy and profitability.
- Working knowledge of financial modeling, financial and management accounting, and commercial attributes associated with full-scale banking activities.
