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DESCRIPTION
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people – your colleagues and our customers – and delivering service that really goes the extra mile.
We require an experienced professional to assist in establishing and maintaining treasury accounting procedures for the bank, ensuring compliance with reporting requirements from the local regulator (CBUAE) as well as international financial reporting standards.
It is expected that you will support in strengthening the Treasury Control function to ensure excellence in process design and implementation and ensure key controls are present and operating effectively.
Responsibilities include but are not limited to:
- Production of daily PnL and decomposition for the different Treasury businesses FX, Derivatives, Fixed income and Investments.
- Investigate daily differences between FO flash and PC reported P&L, working with Treasury Front Office (FO) to close gaps.
- Track and maintain schedules of Valuation adjustments including XVA adjustments
- Production of ad-hoc reporting as required by FO & senior management
- Prepare monthly ALCO reporting information and investigate/explain movements in key ratio’s
- Provide an effective link between FO and Financial Control (FC)
- Review accounting for new systems and products
- Track key accounting matters ensuring appropriate level of engagement and oversight, ensuring absolute integrity in the bank’s financial reporting
- Implement and maintain the monthly review program ensuring financial controls are in place and appropriate reconciliations, substantiations and attestations are completed.
- Conduct in depth product reviews and balance sheet substantiation on a regular basis to strengthen the control environment.
- Preparation of information and reports for Regulatory reporting to enable them to reports to Central Bank of UAE (CBUAE) at required submission intervals, ensuring accuracy and timeliness of information provided
- Act as liaison with IT to update, change and automate trade accounting to ensure correct treatment for new and existing products.
- Ensure timely provision of documentation for internal and external audit requests.
- Support the preparation of annual and interim financial statements along with financial disclosures in line with applicable regulations and requirements of relevant regulatory bodies.
- Coordinate and contribute to the implementation of new accounting standards.
- Ensure reporting period processing and close is well managed and stakeholders are kept appraised of progress with regular status updates.
- Ensure appropriate accounting treatment for new products, as well as major and minor product variations.
