Associate Vice President Accounting Policies RAKBANK UAE

RAKBANK is presently hiring suitably qualified and experienced candidate for the job role of Associate Vice President Accounting Policies. The role holder is responsible to oversee the development and implementation of accounting policies at RAKBANK UAE, ensuring compliance with regulatory standards and enhancing financial integrity and transparency.

Responsibilities of Associate Vice President Accounting Policies

• To be responsible for ensuring the Bank’s financial reporting and accounting policies comply with International Financial Reporting Standards (IFRS).
• To develop, update and communicate accounting policies for the bank and its subsidiaries in accordance to IFRS.
• To conduct research on accounting issues, and providing guidance to the Finance team to ensure accurate and transparent financial reporting.
• Developing, implementing and maintaining accounting policies and procedures in line with regulatory, industry, legal requirements and IFRS.
• Provide guidance to the Finance team on accounting treatment of complex transactions and issues. If required prepare written summaries supporting accounting positions taken and get external auditor concurrence.
• Advice business partners on structuring of complex deals and products ensuring compliance with IFRS.
• Review product program guide issued by various business partners and confirm compliance with IFRS and Central Bank of UAE (CBUAE) regulations.
• Ensure consistency in accounting treatment and policy across the bank and its subsidiaries.
• Review financial statements, disclosures, and reports to ensure accuracy and compliance with accounting policies and regulations.
• Collaborate with internal and external auditors to facilitate the audit process and address any accounting related issues.
• Keep abreast of changes in accounting standards and regulations, and assess their impact on the bank.
• Identify and address potential accounting related risks, ensuring effective risk management practices.
• Evaluate and enhance internal controls related to accounting policies to minimize the risk of errors or non-compliance.
• Continuously review and improve accounting policies and procedures to enhance efficiency and effectiveness in financial reporting.
• Conduct training and awareness programs for various stakeholders fostering understanding and compliance.

Requirements of Associate Vice President Accounting Policies

• Bachelors degree in Business, Finance, Accounting or related field.
• Minimum 5-10 years of experience in accounting and financial reporting, preferably in the banking sector.
• Experience working in fast paced and dynamic environment.

Skills and Knowledge Desired

• Strong understanding of International Financial Reporting Standards and their interpretations.
• Attention to detail, strong analytical skills and ability to work independently and as part of the team.
• Ability to influence teams across organization.
• Excellent analytical, communication, presentation and problem solving skills.
• Proven track record in developing, implementing and maintaining accounting policies preferably within the Bank or Accounting firms.

Job Benefits

• Pay for performance culture (Competitive and performance linked compensation).
• Provision of medical care plan for your family and you.
• Comprehensive Life insurance plan.
• Diverse workforce and inclusive culture.
• Career development and growth opportunities by design.
• Work with the best minds in the field.
• Get opportunities to bring your whole self to the organization and perform to your best.

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Tagged as: Auditor