Financial Management Analyst (Disbursements)
ISLAMIC DEVELOPMENT BANK
Total years of experience :16 years, 1 Months
• Verify each payment against financing application to ensure they are made in
accordance with the provisions of contract that specify currency and mode of payment.
• Check disbursement requests and ensure project effectiveness, availability and
sufficiency of funding and necessary compliance with provisions of contract.
• Post all accounting entries related to disbursements in timely manner and assist in
reconciliation exercise.
• Ensure that all the payment instructions are successfully validated and sent to the
concerned department for disbursements.
• Verify effectiveness of the projects by validating performance bonds and guarantees
with Legal department.
• Monitor exchange of necessary documentations with operations complex for
disbursement applications.
• Analyze history of the amounts disbursed for each account to ensure that total overdue
does not cross the approved limit set by bank.
• Prepare verification analyses for necessary follow-ups by different stakeholders from
various departments.
• Prepare quarterly disbursement summary for each project covering complete cycles of
fund movements.
• Ensure prompt notifications to stakeholders about payment (debit) advice for each
withdrawal pertaining to the disbursement application.
• Coordinate with Treasury on allocation and sufficiency of funds for disbursement Request.
• Assess and validate financial data for integrity and analytical purposes, as and when
required.
• Prepare disbursement forecasts for the disbursements by analyzing all projects
financed by IDB along with their planned expenditure.
• Conduct sensitivity analysis on key business parameters and regular stress testing of
the financial statements to gauge their impact on the bank’s financial performance.
• Perform specific analyses of financial or operating data to satisfy certain regulatory
requirements or to establish required internal controls over business processes.
• Provide necessary financial information and analysis of the Bank’s financial
performance to be included in the Annual Report.
• Analyze the current projects status and identify any problem areas that warrant
attention of the concerned departments.
• Participate in annual planning and periodic forecasting including detailed scenario and
run rate analyses, and other standard or ad hoc analyses to meet variety of
management objectives.
• Coordinate and facilitate internal or external audit and provide relevant inputs for all
disbursement related activities.
• Assist the senior management in framing effective policies and guidelines for the
division on disbursement matters.
• Suggest improvements to policies and procedures for more effective disbursement
operations.
• Knowledge Sharing &
Innovation
• Coach new Associates on disbursement procedures and internal control framework
followed by the Bank.
• Assist in designing materials for disbursement seminars and workshops.
• Reporting &
Communication
• Maintain all documents related to disbursement for future reference.
• Maintain accurate information on project beneficiaries in the information system.
• Prepare periodic reports on disbursement activities for Senior Management and Board
of Directors.
• Answer queries on filing of disbursement requests and provide necessary information
on policies and procedures to facilitate smooth processing of requests.
• Prepare financial reports, monthly statements, overdraft reports, and design and
maintain on-line and manual financial reporting systems
1- Reporting all banking facilities such as company loans, the rate of interest, currency exchange rate, letter of credit, overdraft limit, bonds bid, performance retention, etc…
2- Daily reconciliation of the bank statements and follow up with potential discrepancies.
3- Day-to-day solving any issue related to the company's Operations with the banks in a proactive manner
• Perform tasks required by team members and/or Top Management
1- Timely execution of the payments to subcontractors and suppliers.
2- Periodic preparation and analysis of the company's financial statements and any relevenat reports
3- Overseeing the cash management functions of the company
1- Processing invoices by: checking amounts and relevant details, ensuring compliance to purchase's oders and material request, verified that the goods
are received and services are rendered.
2- Issuing Periodic Account Payables reports showing analysis of balances and overdue amounts with payments follow up.
3- Ensuring the appropriate accounting of the fixed assets functions (keeping monthly records/registers and ensuring the depreciation is accounted correctly,
4- Monthly reconciliation of the physical inventory of assets vs the accounting records .
I have a profession Certificate (CMA) The CMA is the globally recognized, advanced-level credential appropriate for accountants and financial professionals in business. CMA demonstrates professional expertise in financial planning, analysis, control, decision support, and professional ethics and skills The CMA exam is organized into two parts PART ONE: FINANCIAL PLANNING, PERFORMANCE AND CONTROL Planning, Budgeting, and Forecasting Performance Management Cost Management Internal Controls Professional Ethics. PART TWO: FINANCIAL DECISION MAKING Financial Statement Analysis Corporate Finance Decision Analysis and Risk Management Investment Decisions Professional Ethics