Chief Financial Officer
Gulf International Bank
Total years of experience :24 years, 11 Months
Mandated to drive business growth through proper financial planning and ensure execution of the Bank’s strategy.
Lead changes in the finance function to bring change across the Bank through implementing financial discipline and effective MIS.
Provide support to the business lines to ensure alignment with the Group and help them in implementing their respective strategies and business plans.
Represent the CEO on various bank’s committees and business-lines meetings.
Responsible for financial, management, regulatory and tax reporting.
Spearhead the Bank’s Finance, Operations, Information Technology, Treasury, Legal and Corporate Communication departments.
Direct and oversee entire aspects of the financial, management, investors and regulatory reporting functions of the Group.
Represent as a Board member in number of Bank’s subsidiaries and associates, involved in overseeing the establishment of their strategies, business plans and instrumental in their governance processes.
Ensure credibility of Finance group by providing timely and accurate analysis of budgets, financial trends and forecasts.
Lead the development for the continuous evaluation of short and long-term strategic financial objectives.
Pro-actively involved in deal structuring, valuation and other investment banking activities
Evaluate and advise the impact of long range planning, introduction of new programs/ strategies and regulatory action.
Advice the Board on the financial implications of business activities and make recommendations to strategically enhance financial performance and business opportunities.
Attend and participate in the Board & Management Steering Committee
Manage entire financial functions of the bank & maintain the bank’s books and record in accordance with GAAP & specific financial polices including systems of internal controls surrounding the finance function.
Handled financial control, reporting, and policy& planning departments with over 50 staff.
Led the Bank’s strategic planning and budgeting process.
Oversaw the bank’s management reporting processes including transfer pricing and budgeting.
Introduced, designed and developed “Assertion Program” for the bank. (We are the first bank to implement such program in Middle-East). This is equivalent to US Sarbanes Oxley (SOX)
Deputized CFO in his absence
• Represented and managed the interest of Bank of Nova Scotia in Canadian Bankers Association’s committee on Operational Risk for development & implementation of Basle II Accord.
• Responsible for implementation of recent regulatory capital accord mandated by Basel Committee of Banking Supervision.
• Set up guidelines to improve operational controls in higher risk areas of Scotia Capital and Group Treasury including market and credit risk management functions.
• Performed explorative analysis using Processes and Systems mapping techniques and Activity Based Costing information to determine if the processes could be streamlined or improved.
• Worked with business units to improve back office operations and to develop various control reports.
• Assessed operational efficiencies of US and Canadian desks. This includes understanding the processing of information; evaluating various built-in control mechanisms and developing risk profile.
• Participated in the development of risk-based Audit Plan for the Bank.
• Responsible for auditing Risk Management Processes including Market, Credit and Operational risks
• Audited Front, Middle and Back offices of Global Equities, TD Asset Management, Treasury and Balance Sheet Management, Capital Markets (Interest rate, cross currency, Index and FX Swaps, Index option), Convertible Arbitrage, Fixed Income portfolio, Equity and Credit Derivatives and Mutual fund notes.
• Reviewed stress tests and stock shocks on historical simulated data to validate Value at Risk (RiskWatch ™)
• Participated in the development and subsequent implementation of Operational Risk Management Scorecard for the Bank to support implementation of Basle II.
• Tested various front and back offices’ models for marking the portfolio to market and its independent verification.
• Reviewed Capital Adequacy reporting for its accuracy, logic and adherence to Securities & Exchange Commission (USA) and OSFI (Canada). This reporting requires the proper usage of Value at Risk (VAR), Garch Model, and market volatility and sensitivity models in addition to specific risk calculation.
• Audited Debt capital market division. This includes assessing the market and credit risks, testing key controls and compliance with regulators.
• Assessed the adequacy of various types of reserves including Deal structuring, Tax Equivalent Basis (TEB) and liquidity reserves from risk management perspective.