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 Government 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 Shari’a Risk and advisory team.

Key Responsibilities:

Ensure that all financial and regulatory reporting for FAB Islamic Windows and FAB Islamic Finance Company is completed timely and in compliance with IFRS, AAOIFI, and regulatory requirements.

Prepare monthly management results and business performance packs.

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.

Facilitate business reviews and strategy discussions at monthly Business review meetings.

Manage the annual Budget setting process, monitor financial performance vs Budget, and provide commentary analysis to Senior Management.

Advise businesses on accounting/finance matters and bridge communication with Group Treasury on all FTP issues.

Ensure effective cost management for the business in alignment with the group strategic plan.

Build strong relations with the Islamic Banking Senior executive team, the Internal Sharia’s control team, and other key stakeholders in the Bank.

Oversee the production of Board financials and papers for Board meetings. Represent Finance at quarterly BOD meetings.

Develop a working relationship with regulators and external/internal auditors.

Manage the Revenue/Cost sharing/allocations exercise to ensure transparent/arms-length internal transfer pricing between windows and the finance company.

Support ALCO in managing liquidity risk ensuring compliance with all Group & Regulatory requirements.

Manage the Islamic Finance team, mentor and develop the team, manage work allocation, training, problem resolution, and effective team building.

Manage the monthly AOV and annual RCSA process. Ensure robust self-testing and timely closure of all control issues.

Qualifications:

Job knowledge, skills & experience:

12+ years’ similar experience in a finance function of an Islamic FI.

Experience in partnering with the business executive team.

Excellent knowledge of data analysis and forecasting methods.

Skill in examining, developing, and reengineering 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.

Academic/Professional Qualifications:

Professional Accounting qualification – ACA / CPA / ACCA.

Bachelor’s degree from a recognized university with a relevant major

contact us : islamiccustomercare@bankfab.com