The Group Head of Management Accounting is responsible for setting management accounting policy, and for providing management accounting reports to the executive management and various Boards and executive committees of the Group to support strategy development and management decision-making.
The Group Head of Management Accounting sets cost allocation policy and directs and oversees the Bank’s annual budgetary planning cycle, ensuring that appropriate cost and profit centre budgeting, management, control and reporting is executed across the Group.
The Group Head of Management Accounting provides analysis to support the analysis of customer and product profitability, and reports the impacts of Funds Transfer Pricing across the business units.
Management Accounting Policy
Define and implement comprehensive and effective policies and processes to manage the ongoing Management Accounting activities throughout the Group.
Direct and administer the accounting, reconciliation and reporting of financial performance against the bank’s annual budget to ensure that the annual budget reflects all anticipated commercial and operational activities.
Direct the timely and accurate formulation of all financial management reports and forecasts for business units, the bank’s Management Committee (ManCom) and the Boards of the Group.
Cost Allocation and Control
Set, direct and administer the Cost Allocation policies and processes of the Group, including internal Funds Transfer Pricing allocation.
Provide insights and analysis to the CFO and management of the Group, and participate in strategic planning for the Group.
Customer and Product Profitability
Provide business units and management with information to support analysis of customer and product profitability.
Fund Transfer Pricing
Oversee the implementation of the Funds Transfer Pricing Policy.
Manage and develop the Financial Accounting Department across the Group, ensuring appropriate skills, capacity and business resilience, while supporting the team members in their career progression.
Develop, document and implement, with regular review, the long-term business plan to ensure continuity of the unit.
Key Performance Indicators (What are the key measurable/quantifiable aspects of the job where the jobholder has significant impact?)
Timely and accurate delivery of Management Accounts for the Group
Timely execution and management of the annual budgeting cycle
Effective provision of analysis to support business unit and executive decision-making, including customer and product profitability
Cost allocations are structured to be fair, legal, and drive optimal business outcomes
Implementing individual objectives, training and development plans for all team members, within the Group’s overall performance management processes
Qualifications, Experience and Skills
Degree in Finance/Accounting/Business Administration,
Chartered Certified Accountant (CAA)
Certified Public Accountant (CPA)
Certified Management Accountant (CMA)
and/or MBA (preferably in Finance or Accounting)
° 20+ years of experience in banking/financial services, at least partly in GCC
° Preferably both retail and corporate background
° Experience in transformation projects or processes
° Prior supervisory experience
° Strong organisational and financial accounting skills
° Strong interpersonal and communication skills, both oral and written
Banking Financial Services Accounting