Head of Financial Control

Job Purpose
Head of Financial Control Department is responsible to provide the overall direction to oversight and control function of Finance.

• Provide reports to CFO on oversight and controls necessary to ensure the accuracy of financial statements
• Responsible for designing controls and testing framework for Finance Department, communication with business lines for all finance related control and oversight activities
• Interact with internal stakeholders and function as a key member of Financial Committee as required
• Lead department managers to ensure the timely and accurate completion of deliverable

 Accountabilities 

• Ensure continuous oversight of General Ledger (GL) balances
  Completeness and accuracy of General Ledger (GL) balances
• Enforce General Ledger Oversight Framework (GLOF) ,
• Monitor GL account opening and closing process and ensure full ownership by business and support divisions for all balances appearing on Balance Sheet and income Statement
• Facilitate and document the control testing frameworks and findings
• Function as first point of contact for all business lines (Institutional Banking, Retail Banking & Global Market Group) and support divisions for all accounting and finance related clarifications
• Identify opportunities for continuous improvement in all areas of responsibility. Instigate and implement changes and where appropriate recommend more strategic changes to the team
• Perform processes as part of the NAP (New Product Approval) committee and NTS (New transaction System) committee
• Produce and present regular update reports for the management on observations , controls and improvements
• Ensure and contribute towards timely update of SOPs for all the sub-departments of finance
• Work in close coordination with Risk Department and recommend control design changes or improvement when needed
• Work closely with other senior management and in the overall running of business including development of short and long term financial plans and provides feedback to CFO on all accounting and financial control issues
• Perform accounting consultancy to business lines and senior management on critical issues and accounting clarifications
• Clear all issues escalated, either through people management or specialized opinions
• Lead the process of effective “Financial Control” including recruiting, adopting and implementing HR best practices and ensuring a high level of employee engagement and motivated work environment
• Coordinate with External and Internal Auditors for providing the relevant documents and take necessary steps to close audit recommendations

• Master’s degree in Accounting or Finance. Advanced qualification like CFA, CPA or FSA will be an added advantage
• 12- 15 years of practical experience in Finance control and accounting functions in banking environment
• Knowledge of financial control framework
• Experience in risk and internal control management
• Fraud detection and prevention techniques
• Prior knowledge of general ledger oversight is preferred
• Excellent knowledge of financial services covering both retail and business banking products
• Knowledge of SAMA guidelines and Banking regulations
• Understanding of IFRS and relevant local statutory requirements
• Pressure absorbent and good management skills
• Excellent command of English language
• Strategic perspective and management
• Critical judgment and decision making