Senior Accounting and Reporting Analyst – Islamic Development Bank , Saudi Arabia

Job Purpose:
Review and ensure compliance to Financial Accounting standards by AAOIFI and International Financial Reporting Standards (IFRS) in all Treasury financial transactions (such commodities, sukuk investments, swaps, forex, sukuk liabilities, reverse murabaha, currency alignments, Treasury payments) of the bank and trust funds. Oversee preparation of financial statements for Special Purpose Vehicles (SPV) in compliance with IFRS, perform financial analysis as required by fund managers / rating agencies, manage all accounting transactions related to medium complexity funds.

Key Accountabilities (not exhaustive list):
Account Management
Implement necessary operational procedures to meet accounting, reporting and disclosure requirements of the international accounting standards and AAOIFI
Review all financial transactions to ensure their compliance with Generally Accepted Accounting Principles and Practices
Ensure compliance and conformance of all transactions with IDB’s rules, guidelines and internal control systems
Ensure effective integration of division’s policies and procedures with SAP making finance and accounting more SAP compliant
Generate and verify Income accruals from CML for all Project Assets and postings to GL
Run, verify and post all foreign exchange valuations of the assigned funds.
Review balances of all technical clearing accounts relating to projects and ensure timely clearance
Financial Statements
Prepare monthly/quarterly and annual financial statements with all the required disclosures for the assigned funds
Evaluate financial performance indicators to be included in the annual report
Assist seniors in reviewing financial statements for the group to address regulatory and other management reporting requirements
Policies & Procedures

Contribute in preparation of IDB’s accounting policies in conformance with international accounting standards like AAOIFI, IFRS and compliance with Shariah rules and guidelines.
Advice on drafting and updating policies on technical accounting issues related to complex transactions
Coordinate with the team to establish a framework of internal controls over the financial transactions of all departments to adequately safeguard assets and efficiently manage the liabilities
Administer implementation of new statutory accounting standards after evaluating its impact on functional areas

Reporting & Communication
Coordinate with internal and external auditors for financial audits and conduct follow up with division on audit recommendations
Facilitate timely availability of the relevant data from other departments for preparation of financial statements
Represent IDB at various external forums including regional and international events to establish a strong image of the bank as a group
Keep abreast of latest regulations in international markets and any other jurisdiction that may have an impact on the group operations
Prepare the information needed for Rating Agencies and Sukuk Issuance.

Job Requirements:
Academic qualifications
Bachelors degree in Accounting, Finance, Economics, Business Administration or related field is required, masters degree is preferred
Certification in CA, CMA, ACCA or CPA Certification in Islamic Finance/Accounting is preferred
English (Mandatory)
Arabic (Preferred)
French (Preferred)
Minimum number of years and nature of experience
7-9 years experience in finance and accounting
Advanced ERP experience

Job specific competencies
Building Relationships
Client Centricity and Responsiveness
Motivation to Learn and Share
Passion for Excellence
Analytical Thinking
Communication Effectiveness
Drive for Results
Knowledge, Learning and Communication
Problem Solving
Stakeholder Management / Client Orientation
Strategic Planning
Bank Knowledge
Financial Management
Audit Operations
Financial Reporting
IDBG Financing Instruments
Report Writing
Islamic Finance
Product Knowledge
Business Process Knowledge
Systems Development and Maintenance
Policies and Procedures

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