Chief Financial Officer - Bank

Objectives of the role

To provide a Financial Report and controls based on an accounting system that meets International Financial Reporting Standards and complies with the National Audit and Oman Central Bank requirements, enabling Bank to monitor and analyse its performance to identify and plan for improvements. Additionally, to provide effective and efficient processing support and control of Bank's Treasury operations.

snapshot

Position Title: Chief Financial Officer

Division / Group: Finance

Department / Region: Finance

Direct report to: Chief Executive Officer

Directly reported to by: Financial Planning/ MIS; Accounting Control; Treasury Settlements; Financial system Business Analyst

Division / Group Head: Chief Financial Officer

Total no staff controlled: 19

Key responsibilities

- Develops the Bank strategic business plan in conjunction with higher management, ensuring that sub-plans are cascaded across the Bank, monitoring their effectiveness and ensuring alignment with overall Bank strategic goals.

- Identifies the key areas for management focus and any discrepancies in the Bank budget and standards and provides financial analysis and monthly comments on Bank focus and discrepancies for higher management.

- Develops comparison methodologies to evaluate the Bank performance against other leading banks.

- Ensures Bank has an appropriate accounting treatment and monitoring system, that permits business development while protecting profitability, and ensuring that all regulatory requirements are met.

- Ensures Bank has clear accounting policies in line with GAAP that provides an accurate picture of Bank performance.

- Plans and supervises the external audit process and finalises Bank financial statements, where appropriate, negotiating the most favourable accounting treatment.

- Ensures that Bank products comply with national laws and in line with the IFRS accounting treatment.

- Ensuresan appropriate design structure and control on the General Ledger.

- Coordinates with IT to ensure Bank financial systems meet reporting requirements.

- Designs and manages the Bank financial authority matrix.

- Determines a realistic standard of cost productivity and monitoring of Bank performance.

- Ensures that proper control is maintained over the fixed assets of the Bank.

- Ensures that the Bank provides statutory reports required by the Oman commercial law and Central Bank of Oman.

- Identifies potential acquisitions/merges based on Bank requirements and market opportunities, negotiates new acquisitions on behalf of the Bank.

- Manages the Bank capital structure, to enable it to meet its business aspirations.

- Ensures that the Treasury Settlements department has the ability to provide back-office operational support that meets front-office requirements.