Associate Vice President Controls Finance RAKBANK Dubai

Associate Vice President Controls Finance at RAKBANK Dubai is responsible to lead the finance controls function, ensuring effective oversight of financial processes and compliance with regulatory requirements, while supporting strategic decision making.

Responsibilities of Associate Vice President Controls Finance

• To be responsible for leading and transforming the internal controls function of Finance department.
• Responsibility covers the bank and its subsidiaries.
• To be responsible for designing and effective implementation of internal controls for the Finance department.
• To be responsible for providing assurance on effectiveness of controls framework and continuous monitoring for enhancing the framework to adapt changing business / operating environment.
• Design, implement and enhance internal control frameworks to safeguard financial integrity and minimize risks.
• Monitor and enforce compliance with laws & regulations applicable to the Group.
• Act as a SPOC (special point of contact) for RCSA & operational risk related aspects of Finance department.
• Develop and implement a robust control environment defining the structure, authority and responsibilities within the finance function.
• Establish and maintain proper segregation of duties to prevent conflicts of interest and enhance the integrity of financial processes.
• Conduct comprehensive risk assessments to identify potential financial vulnerabilities and develop strategies to mitigate them.
• Review and enhance procedures for financial authorizations, ensuring proper approvals are obtained for transactions in accordance with established guidelines.
• Assess and manage financial risks by identifying potential threats, evaluating their impact, and implementing strategies to mitigate or control them.
• Regularly monitor financial activities, generate relevant reports and communicate findings to management, highlighting areas of concern or improvement.
• Leverage technology tools to enhance controls, such as implementing automated monitoring process and advanced analytics for risk assessment.
• Develop and maintain protocols for responding to financial irregularities, including investigations, corrective actions, and reporting to appropriate stakeholders.
• Maintain clear and comprehensive documentation of finance’s control procedures, ensuring transparency and facilitating audits.
• Conduct training sessions to educate finance staff on controls, promoting a culture of compliance and accountability.

Requirements of Associate Vice President Controls Finance

• Bachelor’s degree in a relevant field like Accounting, Finance, or Business Administration.
• Minimum 5- 10 years’ experience in financial services, preferably in the banking sector.
• Experience working in fast paced and dynamic environment.

Skills and Knowledge Desired

• Proven track record in developing and implementing financial controls framework.
• Strong understanding of internal controls.
• Knowledge of Sarbanes Oxley or ICFR or similar frameworks is preferable.
• Attention to detail and knowledge of relevant laws.
• Ability to visualize potential real life end to end business scenarios to design / strengthen controls.
• Excellent analytical, communication, presentation and problem-solving skills.

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.

Associate Vice President TWC Coverage RAKBANK Sharjah

Data Governance Analyst RAKBANK

Finance Analyst (BRF) RAKBANK

Tagged as: Vice President