VP- GM Business Unit Control

2 weeks ago

Abu Dhabi, Abu Dhabi, United Arab Emirates First Abu Dhabi Bank Full time

JobPurpose:

The Global MarketsBusiness Finance team comprises Business Unit Control IndependentPrice Verification and Central MI and Change Management teams. Theteam supports the Global Markets and Group Treasury businesseslocally and internationally. The unit falls under the Group Financedepartment and reports to the CFO CIB Finance &International.

Key priorities of this roleinclude:
Providing world class financial reporting& support services adding value through providingprofessional independent & objective financial advice whichassist in the achievement of business objectives whilst complyingwith Group policies and standards and external statutoryobligations.
Production of financial & managementaccounting reporting statements for the functional area ofresponsibility in line with Group reporting standards whilstmaintaining a robust control environment.

TheBusiness Unit Control team is responsible for accounting andfinancial reporting of the Global Markets & Treasurybusiness acting as a primary control function and monitoringtrading activity to ensure it is in a specified remit. Tasksinclude Profit & Loss (P&L) reporting decompositionand attribution dealing with ad hoc management reporting queriesreconciliation and substantiation of P&L and Balance Sheetbetween the General Ledger (Oracle General Ledger &OneSumX) and Source (e.g. Murex). This role is focused on thedaytoday tasks related to the International Business Unit Controlfunction such as daily preparation and control of P&Lgeneral ledger reconciliations and variance analysis explanationscommentaries and MI reporting.

KEYACCOUNTABILITIES:

PoliciesSystems Processes & Procedures
Follow all relevant departmental policies processes standardoperating procedures and instructions so that work is carried outin a controlled and consistent manner.
Demonstratecompliance to organizations values and ethics at all times tosupport the establishment of a value drive culture within thebank.
ContinuousImprovement
Contribute to theidentification of opportunities for continuous improvement andsustainability of systems processes and practices consideringglobal standards productivity improvement and costreduction.
Reporting
Assistin the preparation of timely and accurate statements and reports tomeet department requirements policies and qualitystandards.

JobContext 
Finance business partnerand trusted advisor on reporting and daytoday support of the GlobalMarkets business providing prompt and effective support to theGlobal Markets Front Office Market Risk Group Treasury GroupFinancial Planning & Analysis Group Financial Reporting andGM Finance management.
Comprehensive P&L analysisfor the trading desks including detailed analysis andinterpretation of daily results variances risk positions realizedand unrealized P&L components revaluation curve movementswith P&L attribution new deals cancelled and amended tradesand price / rate validation.
Provide relevant support toHead of GM Business Unit Control ensuring all business transactedis compliant safe and sustainable
Provide independentvalidation of the financials reported for the GM businesses bymaintaining a robust control framework between FO and reportedfinancials. Maintain a strong understanding of the products tradedand the trading strategies within the business.
Understanding of specific business models analysis of structureddeal packages and application of appropriate accounting standardthereupon. To provide professional & ethical behaviors byensuring compliance with external legislation bank standardsinternal operating policies and procedures.
Managing theday to day and month end controls of P&L and Balance Sheetreconciliation substantiation and reporting for GM.
Support of new business requests ensuring they are controlledthrough the existing or new system architecture providingresponsive support to front office ensuring speed to market of newproducts. Delegated authority for New Activity Working Group (NAWG)for new product signoff.
Drive development projects toenrich financials and MI data at source systems and aligning /standardizing process across groups to have consistentreporting.
Line of Business and Desk level commentarieswith market relevance when P&L thresholds arebreached.
Enhance Sales Segmental & CustomerProfitability Reporting.
Manage monthly forecastingprocess and enable forward looking view for the management to drivebusiness based on run rates and drive timely correctiveactions.
Partner with the GM business in planning andcoordinating the budgeting process across UAE and Internationallocations for the GM business.
Act as a central point ofcontact for Group Finance functions and Global Markets desks:Financial & Regulatory Reporting Treasury FP&A TaxFinancial Control relating to GM Products and ValuationControl
Engender and role model a culture of continuousimprovement ensuring operations are kept continually under review.Identify and implement any opportunities for reengineering toachieving economies of scale.
Escalate any issues to themanagement and assist in mitigating any operational risk.
Use of sophisticated arithmetic models for numerical analysis andevaluation. Writing papers on strategy or other complex issue withlogical sequencing and supporting recommendations. Synthesizinginformation from a variety of sources and extracting relevantconcepts / themes.
Preparing and delivering presentationswith context across business functions to deliver maximumimpact.
Manage and lead personnel within the BusinessUnit Control team endtoend ownership of functions guiding the teamon complex matters and resolution of any issues.
Development and ownership of Business Unit Control policies andaccountability for adherence therewith. Identification &reporting of any policybreaches.

#LIMA3

Qualifications:

  • Extensive trackrecord of successfully working in a Product Control function withproven leadership and managerial experience within a top tierfinancial institution;
  • Strong verbal andwritten presentation and senior stakeholder managementskills;
  •  Min. 1012 years experience inreputed international / global banks;
  • Advanceddegree in a financial discipline or relevant qualifications (CA/CPA/ ACCA / CFA;
  • Strong understanding of GlobalMarkets and Investment Banking products with related Technical andAccounting treatments. Excellent understanding of modern governancerisk and control assessment techniques;
  • Highlydeveloped numerical analytical presentation & interpersonalskills with expertise to represent the team on strategicinitiatives.

RemoteWork :

No

EmploymentType :

Fulltime

Key Skills
BusinessDevelopment,Financial Services,Revenue Growth,Accounting,AccountManagement,CRM,Client Relationships,Market Research,ProjectManagement,Strategic Initiatives,Business Relationships,BusinessStrategy,Sales Goals,Sales Process,Product Development
Experience: years
Vacancy: 1

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