Assistant Manager - Financial Accounting

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile. 

Job Purpose:

Provide support to the Senior Manager, Financial Accounting and Head of Financial Control in managing financial accounting activities, period-end books closing, fixed assets accounting, GL reconciliation and substantiation, new product accounting, finance system maintenance and transformation, process controls, and bank-wide insurance renewal, ensuring accurate financial reporting, effective controls and compliance with accounting and regulatory requirements.

Key Accountabilities:

Manage fixed assets accounting, including recording and monitoring additions, deletions/disposals, monthly depreciation, capitalization of eligible assets, generation of fixed asset reports, preparation of disclosure notes for financial statements in accordance with IFRS, and providing relevant schedules, reconciliations and supporting details to internal and external auditors.

Execute the periodic books closing process in the financial system, ensuring completion of required period-end activities, validation of closing entries, proper closure of the accounting period and adherence to applicable internal controls and timelines.

Perform reconciliation of GL accounts, investigate reconciling items, coordinate resolution with relevant stakeholders, and ensure timely clearance of outstanding balances in line with internal controls and reporting requirements.

Perform quarterly financial statement substantiation, including review and validation of balances, supporting schedules, reconciliations and related documentation to ensure completeness, accuracy and audit readiness.

Review existing finance processes to identify process improvement and automation opportunities, enhance operational efficiency, strengthen controls, and coordinate with relevant stakeholders for implementation.

Address and resolve GL account-related requests received from business units and support departments, ensuring timely response and appropriate accounting guidance.

Handling bank-wide insurance renewal process for coverage of risks related to products and properties held by the Bank. 

Coordinate with business, IT and relevant stakeholders to review and advise on accounting schemas for new products and variants of existing products, assess related system interfaces, and support user acceptance testing to ensure accurate accounting treatment and system readiness.

Support external audits, internal audits and regulatory reviews by coordinating information requests, preparing required schedules and documentation, and ensuring timely and accurate submission of relevant financial information.

Support the implementation of system transformation initiatives and upgrades by coordinating requirements, reviewing system functionality, supporting testing activities and ensuring alignment with finance processes and controls.

Perform any other ad-hoc assignments and responsibilities as required to support the objectives and deliverables of the Financial Control team.

Experience & Academic Qualifications:

7- 8 years’ experience in finance / accounts functions preferably in a bank or Big 4 accounting firm, including 5 years post qualification experience.