Assistant Manager, Financial Reporting

1. To perform the centralized accounting functions relating to MB Subsidiaries (Osool, Mashreq Securities, Mashreq Capital, MFZ, Invictus, IDFAA, MAIFC , Centres of Excellence) and related MIS.
2. To perform accounting and control functions for subsidiaries in an efficient and timely manner such that it conforms to the requirements of International Financial Reporting Standards, regulatory authorities and Bank's Accounting Policies.
3. Responsible for ensuring integrity of accounting and MIS, Regulatory Compliance, Expense Control, Completion for special projects undertaken from time to time and to ensure all sundries are settled in accordance with the ADM.
4. Managing Islamic Banking function which includes preparation of financial statements, their audit (external, internal, Sharia'h), regulatory approval, quarterly distribution of profit to customer through PMS, calculation of Zakah per shareholder etc.

1) Ensure recording of transactions and reporting Subsidiaries are in conformity with International Financial Reporting Standards and Bank's Accounting Policies.

2) Finalization of Annual\Quarterly Financial Accounts for subsidiaries as per International Financial Reporting standards in liaison with external auditors, their audit, submission to respective regulatory authorities. 

3) Manage recording of Staff and Occupation/Administrative expense relating to all Subsidiaries ensuring accurate recording in line with APPM.

4) Review outstanding items in Sundries Accounts of all subsidiaries for follow up and escalate for settlement / write off instructions / approvals in line with APPM for subsidiaries and take corrective action to safe guard against potential losses. 

5) Investigate deviation in the GL and subsidiary accounts and arrange rectification by the concerned unit to keep the books of accounts balanced

6) Regularly monitor nostro/mirror statements of all subsidiaries accounts and to investigate outstanding items and take corrective actions and follow up with respective departments for their clearance.

7) To review month end reports related to all subsidiaries and ensure the correctness of data at month.

8) Continuous review of areas requiring automation for generating MIS in an efficient and timely manner and carrying out testing for new or upgraded systems.

9) Update existing SOP and preparation for new and changed process of all subsidiaries. 

10) Ensure and periodically update of Services Level agreement with all stake holders.

11) Other miscellaneous functions include checking of Online and EJ report, coordination in year-end processes, with other departments and with external Auditors.

12) Run Islamic profit management system in coordination with business and Tech.

13) Prepare Islamic banking division in accordance with IFRS and Shariah supervisory board guidance.

14) Review daily disbursement of staff loans report and control reports.

15) To review SOC of UAE susbidaries at month end arrange rectifications of abnormal balances if any.

The incumbent should be a Chartered Accountant with more than 4 years of work experience in the field of Accounting & Financial reporting and Control function preferably in a bank. 

He should have excellent inter personal and written / spoken communication skills with good working knowledge of International Financial Reporting Standards (IFRS) and regulatory guidelines.

Proficiency in ERP, Core Banking systems and various other application software's is required.

Job demands adherence to established policies & procedures including timeliness and accuracy to avoid inherent financial risk and avoid punitive action from regulatory authorities to safeguard bank's image in diversified environments & conditions.

The job-holder has working relationships with all MB UAE & Ovs Branches/ HO Departments,  all staff of MashreqBank UAE, all Subsidiary Companies, the External / Internal / Central Bank Auditors and other units of the Bank.

To ensure implementation of approved accounting policies with efficient and accurate maintenance of accounting records for production of timely MIS, Regulatory and other requirements. Implement and monitor checks on accounting records according to IFRS standards in order to ensure that the quality of information produced is of a high standard and in line with Bank's policies, timely action, accurate maintenance of records, handling of investigations so as to maintain due controls on the risks inherent and identification of system related weaknesses, for improvements, investigations, rectifying the same as per Bank's Accounting Policies and regulatory requirements.    

Ensure timely submission of financial statement and maintain accuracy