CFO- Islamic Banking & NHL

Job Description

As a result of the new UAE Central Bank regulations covering the Islamic Banking Businesses of Banks in UAE, the CFO - Islamic Banking role is responsible for managing all activities and deliverables of the Finance Function of the Islamic Banking businesses for the entire Bank (including IB, CCIB, GM, CB, PB and GT) as well as that of the FAB Islamic Finance Company. This role is also responsible for managing all Finance related work relating to the National Housing Loan (NHL) Business and Govt Housing Program businesses of the Bank.This includes preparation of statutory financial statements, regulatory reporting, monthly management reporting, strategic planning, forecasting and budgeting, compliance with the AAOIFI standards, profit distribution system, Sukuk management, advisory and monthly operation of the Financial Control tasks. The role is also responsible for monitoring and evaluating overall Islamic strategy and business partnering with the Islamic Banking senior executive team and Sharia Risk and advisory team.

• Financial & Reg Reporting: Ensure that all the financial and regulatory reporting for FAB Islamic Windows and FAB Islamic Finance Company is timely completed and is in compliance with the IFRS, AAOIFI & regulatory requirements.
• Management Reporting: Ensure timely preparation of the monthly management results and business performance packs.
• Business Partnering: Partner with the CEO Group Islamic Banking, CB Islamic Banking & NHL CEO and other key business stakeholders on developing and driving Islamic business & NHL strategy and balanced scorecards.
• Monthly Financial reviews: Facilitate the Business reviews and strategy discussions at the monthly Business review meetings involving CEO Group Islamic Banking , Head of Islamic Business and other key stakeholders. Support the business head in the business review meetings with the HOCBG.
• Budgeting / forecasting: Manage the annual Budget setting process with the Islamic Product & Business Head, monitor financial performance vs Budget and projects/initiatives and key ratios, and provide commentary analysis to Senior Management on performance gaps with proposals on how to improve P&L performance and achieve KPIs.
• Advisor to the businesses on accounting/finance matters and bridge communication with Group Treasury on all FTP issues
• Ensure effective cost management for the business which should be in alignment with group strategic plan.
• Build strong relations with the Islamic Banking Senior executive team, the Internal Sharias control team and other key stake holders in the Bank to shape and deliver business strategies
• BOD Meetings: Oversee the production of Board financials and papers for the Board meetings. Represent Finance at the quarterly BOD meetings to present financial performance of the Business and answer questions from the Board members.
• Central Bank inspection & External / Internal Audit: Develop a working relationship with the regulators and external / internal auditors. Ensure that all the required information necessary for the inspection / audit is timely submitted and timely closure of all issues identified.
• Manage the Revenue/Cost sharing/allocations exercise to ensure transparent/arms-length internal transfer pricing between the windows and the finance company.
• ALCO: As a member of Islamic Banking ALCO team, support ALCO in the management of liquidity risk ensuring compliance with all Group & Regulatory requirements.
• Manage the Islamic Finance team by leadership. Mentor and develop the team, managing work allocation, training, problem resolution and effective team building.
• Financial Control: Manage the monthly AOV and annual RCSA process. Ensure robust self-testing and timely closure of all control issues.

• 12+ years similar experience in a finance function of an Islamic FI
• Should have experience in partnering with business executive team.
• Excellent knowledge of data analysis and forecasting methods
• Skill in examining, developing and reengineering of financial policies and procedures.
• Excellent communication and people skills
• Ability to strategize and solve problems
• Experience in project handling.
• Demonstrated excellence in managing finance, accounting and reporting

• Professional Accounting qualification - ACA / CPA / ACCA
• Bachelors degree from a recognized university with a relevant major

Keyskills :
Project Handling Data Analysis accounting Forecasting Reporting

About Company

FAB, the UAE’s largest bank and one of the world’s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank’s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.