Associate Vice President - Financial Planning and Analysis

Role Overview

Associate Vice President - Financial Planning and Analysis at RAK BANK. The role provides strategic financial insights and decision support to the Retail Banking business, working closely with senior management and cross-functional teams to drive financial performance, optimize resource allocation, and align Retail Banking priorities with the Bank's overall financial objectives.

Role Purpose

Lead the Financial Planning & Analysis function for Retail Banking, serving as a strategic finance partner to business leaders. Deliver financial insights, analytical commentary, and recommendations that support business decisions and drive financial performance across products, segments, and client portfolios.

Key Responsibilities

Strategic Partnership & Advisory

• Act as a strategic finance partner to Retail Banking leaders, providing financial insights and recommendations to support business decisions.
• Develop and implement strategies to improve financial performance and optimize resources.
• Collaborate closely with senior management to understand their financial needs and provide tailored financial insights and recommendations.
• Conduct in-depth financial analysis and modeling to support decision-making, identifying areas for improvement and cost-saving opportunities.
• Identify opportunities for revenue growth, cost optimization, and risk mitigation.

Financial Planning & Budgeting

• Lead the preparation of business plans, budgets, and forecasts in collaboration with cross-functional teams.
• Develop and monitor Retail Banking targets and budgets, tracking performance against agreed objectives.
• Prepare and present financial reports, forecasts, and budgets to senior management, clearly communicating complex financial information.
• Develop and implement robust financial planning and analysis processes, ensuring accurate and timely financial reporting.

Financial Analysis & Reporting

• Manage monthly accounting and reporting for Retail Banking, including analytical commentary and performance reviews.
• Prepare and analyze financial reports, including profit and loss statements, balance sheets, and cash flow statements.
• Monitor and analyze client, product, and segment profitability to identify areas for improvement.
• Build detailed financial models to assess business scenarios and their potential financial impact.
• Track financial and non-financial KPIs across Retail Banking products and segments.
• Conduct detailed financial reviews to assess specific issues or opportunities within the Retail Banking business.
• Manage amortization processes and prepare product-level P&L reports.
• Monitor and analyze financial performance, identifying variances and trends, and providing proactive recommendations to optimize financial outcomes.

Business Support & Performance Management

• Provide financial support for new product launches, including viability assessments and impact analysis.
• Contribute financial inputs to Group Management Committee packs and prepare Retail Business Review packs.
• Conduct peer and industry benchmarking to support best-in-class Retail Banking practices.
• Stay updated on industry trends, best practices, and emerging technologies in financial planning and analysis, driving continuous improvement.

Compliance & Systems

• Ensure financial activities comply with relevant regulations, reporting standards, and internal policies.
• Ensure compliance with financial regulations and internal policies, maintaining a strong internal control environment.
• Support the implementation of financial systems and technologies, including integration, testing, and user training.

Stakeholder Management

• Liaise with external auditors, regulators, and other stakeholders.
• Build and maintain strong relationships with key stakeholders across the organization, fostering a collaborative and supportive environment.

Team Leadership

• Lead and manage the Retail Banking Financial Planning & Analysis team, providing strategic direction and guidance.
• Provide mentorship and guidance to the finance team, including goal setting, feedback, and development support.
• Mentor and develop team members, fostering a culture of learning and professional growth within the department.

Qualifications & Experience

• Bachelor's degree in Finance, Accounting, Business Administration, Economics, or a related field. Master's degree in a relevant discipline is preferred.
• Minimum of 10 years of experience in financial planning and analysis or a similar finance business-partnering role within banking or financial services, with a proven track record of success in a leadership role.
• CMA, CPA, or CFA certification is preferred.
• Previous experience supporting Retail Banking is preferred.
• Experience within the UAE market is preferred.
• Demonstrated expertise in financial analysis, budgeting, forecasting, and financial modeling techniques.
• Strong knowledge of financial analysis, accounting principles, budgeting, forecasting, and banking products and services.
• Strong knowledge of Retail Banking products, including personal loans, mortgages, credit cards, and deposit accounts.
• Understanding of Retail Banking market dynamics, industry trends, and the competitive landscape.

Skills & Competencies

• Advanced proficiency in financial reporting, Excel, and PowerPoint.
• Proficiency in using financial software and tools, including ERP systems and financial modeling software.
• Experience using financial management systems and ERP platforms.
• Ability to interpret complex financial information and translate it into practical business insights.
• Strong business acumen and a deep understanding of Retail Banking products, services, and operations.
• Exceptional stakeholder management and influencing skills.
• Strong financial analysis and problem-solving capabilities.
• Strategic and commercial thinking.
• Excellent written and verbal communication skills.
• Ability to present financial information clearly and concisely to senior stakeholders.
• Exceptional communication and presentation skills, with the ability to articulate complex financial concepts to both financial and non-financial stakeholders.
• Strong relationship-building and cross-functional collaboration skills.
• Knowledge of financial regulations, compliance requirements, and reporting standards.
• Strong knowledge of financial regulations and compliance requirements, with the ability to ensure adherence to internal and external standards.
• Excellent leadership and management skills, with a proven ability to lead and motivate a high-performing team.
• Strong attention to detail and accuracy.
• Ability to work independently, manage multiple priorities, and maintain a high level of accuracy.
• Ability to work independently, manage multiple priorities, and meet tight deadlines.
• Analytical mindset with strong problem-solving and critical thinking abilities.
• A proactive mindset with the ability to manage several priorities effectively.
• A proactive and results-driven approach, with a commitment to continuous improvement and innovation.

Additional Information

• Exposure to senior management and strategic financial decision-making across Retail Banking.
• The opportunity to influence financial performance, product profitability, and resource allocation.
• Experience partnering with teams across Finance, Sales, Marketing, Risk, Operations, Product, and Technology.
• Involvement in business planning, financial modelling, performance management, and new-product assessments.
• Exposure to management-level reporting through Group Management Committee and Retail Business Review packs.
• The opportunity to contribute to financial systems implementation and process improvement.
• The opportunity to strengthen your leadership capabilities by guiding and developing finance team members.