About the Role
This position is essential for cost management within the enablement functions and business units. The individual will assist in providing monthly financial reports with detailed variance analysis and will take ownership of the end-to-end Cost Allocation process for the Group.
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Key Accountabilities
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Generic Accountability
- Provide guidance and on-the-job training for junior colleagues, conducting knowledge sharing to achieve team objectives and ensure timely and efficient task completion.
- Promote the organization's core values and ethics in all activities within the team and the wider organization, supporting the establishment of a value-driven culture.
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Budgeting and Financial Performance
- Monitor and overview Cost Allocation financial performance for a designated area versus the budget, ensuring compliance with approved guidelines while reporting variances to management.
- Identify risks and opportunities, advising management on measures to support decision-making.
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Policies, Systems, Processes & Procedures
- Provide inputs and implement policies, systems, and procedures for the assigned team to ensure relevant procedural and legislative requirements are fulfilled, delivering a quality and cost-effective service.
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Continuous Improvement
- Participate in identifying opportunities for continuous improvement and sustainability within systems, processes, and practices, with consideration for global standards, productivity improvement, and cost reduction.
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Reporting
- Prepare sectional statements and reports timely and accurately to meet business and departmental requirements while adhering to policies and quality standards.
- Manage the end-to-end Cost Allocation process for the group.
Job Specific Accountabilities / KPIs
- Manage the month-end Cost Allocation Process for the company UAE Enablement functions.
- Prepare and develop the monthly Management Information (MI) reports for enablement functions cost allocations and handle any reporting issues that arise.
- Provide analysis of enablement functions cost allocations actuals to relevant stakeholders, identifying actions for corrective measures.
- Implement various reports as requested by stakeholders.
- Analyze cost allocation charges, providing adjustments where necessary.
- Assist in the budget process for enablement functions cost allocations and in the setup of budget templates.
Qualifications and Experience
- Minimum Qualification
- Bachelor’s degree required.
- Professional qualification (CA, ACCA, etc.) or master’s level qualification required.
- Minimum Experience
- Minimum 10 years of relevant experience in the banking sector, with progressively increasing managerial responsibilities in the finance function.
- Demonstrated ability to successfully manage and motivate a team of finance professionals.
- Experience in leading a team and daily interaction with senior management and stakeholders.
- Ability to respond to and resolve issues and needs from both the team and business stakeholders.
- Must be detail-oriented while maintaining a focus on the big picture; ability to multi-task and perform under pressure is crucial.
