وصف الوظيفة
Role Overview
Assistant Vice President, Accounting & Cost Management at First Abu Dhabi Bank, responsible for all cost activities, accruals, amortizations, and financial management for Personal & Private Banking segments.
Company Overview
First Abu Dhabi Bank is the largest bank in the UAE and one of the world's largest and safest financial institutions. It offers a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. The organization is committed to excellence and innovation, providing top-tier financial solutions to clients globally.
Role Purpose
This role performs all cost activities related to Personal & Private Banking segments, including cost booking, cost review and analysis, cost reporting, accruals management, amortizations, manual adjustments related to financials, business finance review, and approvals of purchase requisitions within both business divisions.
Key Responsibilities
Cost Management & Reporting
- Review all costs recognized to the profit and loss statement to ensure correct cost reporting.
- Maintain prudent cost booking structure to enable cost reporting.
- Review and analyze cost lines to identify major or unusual month-on-month movements, investigate, and initiate corrective actions.
- Ensure cost bookings are done to the right responsibility centers.
- Maintain the divisions' cost booking structure to ensure business-wise cost reporting and allocation.
- Review monthly cost reports line by line to identify the accuracy of cost booking.
- Identify anomalies and initiate reversals or corrections.
Accruals & Provisions
- Manage the divisions' accruals process to ensure expenses and income are accrued in the respective periods in alignment with accounting standards, thereby achieving accurate financials for the divisions.
- Review monthly provision requirements for all income and expenses of the division.
- Perform provision accounting process for all income and expenses of the division.
- Arrange for approvals and coordinate with TBO for posting of provisions prior to month end.
- Follow accounting calendar and coordinate with expenses booking units to ensure timely accruals for postings outside Finance.
Amortizations & Manual Adjustments
- Carry out amortization entries for key general ledger lines based on accounting standards.
- Manage all monthly manual adjustments as part of month end reviews and subsequent booking to core systems.
- Post manual adjustments for any exclusions or incorrect bookings as part of month end process.
- Post adjustments as per FR calendar in a timely manner.
- Maintain records related to manual adjustments.
- Confirm corrections in respective core banking systems within the posting month against manual adjustments.
Month End & Financial Review
- Carry out month end review of divisions' books to identify any anomalies.
Purchase Requisitions & Budget Review
- Review all purchase requisitions of the business.
- Conduct business finance reviews on accounting and budget availability for purchase requests.
- Process purchase requisitions of the division.
- Review legal entity, responsibility center, and general ledger used for booking.
- Conduct budget reviews and ensure right approval hierarchy.
- Clear all purchase requisitions in a timely manner.
Chart of Accounts & Systems Management
- Coordinate for new chart of account requirements in line with reporting standards in coordination with GF and FTBS.
- Raise system requests for creation of new GL, LE, RC, duly ensuring the reporting structure in coordination with FTBS and GF.
Reconciliation
- Reconcile all suspense accounts under ownership of the unit as per AOV process.
Qualifications & Experience
- Professional degree in Accounting or Finance.
- CA, ACCA, or CPA certification preferred.
- Approximately 5 or more years of working experience within banking in similar roles.
- Strong understanding of Retail banking business.
Skills & Competencies
- Proficiency in MS Office tools.
- Committed team player with strong interpersonal and communication skills.
- Ability to multi-task.
- Attentive to details.
- Proactive and flexible.
- Result oriented.
- Ability to perform and deliver under pressure within tight timelines.
Additional Information
FAB offers unique career choices, learning and development initiatives, training and skill development support for all employees, structured plans for the recruitment and career progression of Emirati talent, and a performance-based culture.