Finance Manager Regulatory & Financial Reporting (IFRS-9), Integration Specialist
The Saudi British Bank - Sabb
Total years of experience :24 years, 9 Months
• Monthly management reporting & regulatory reporting of ECL as per IFRS-9, perform different analysis for find out the variances between MOM.
• Prepare various disclosures of IFRS-9 for Financial Statements on quarterly & annual basis.
• Responsible for accounting related to IFRS-9, and ensure all the accounts should be reconciled.
• Accounting of Fair value adjustments, arrived due to merger.
• Prepare and review all the financial and non-financial regulatory returns for reporting to Saudi Monetary Authority (SAMA), and ensure effective implementation of Accounting Standards and completeness of Disclosures. In addition to tallying the figures with underlying records.
• Plan, direct and oversee regulatory reporting and ensure it is performed in accordance with SAMA regulations and guidelines and submitted it on schedule.
• Provide SAMA with sufficient explanations for any significant movement and addressing any request from them or from other regulatory bodies.
• Actively participating in integration process, provide guidance to core integration team especially in consolidation of reports.
• Responsible for manage and review all the balance sheet accounts, including Suspense, Prepayments, Accrued expenses and Payables.
• Responsible for check and review the daily request from different departments, for opening/closing the new accounts, mapping for different accounts, new GL categories in T-24 (Temenos).
• Prepare various types of analysis for management, which support the vision of cost controlling.
• Responsible for monthly financial reporting to the President, Business Heads and principal office, in spread sheet and power point, which includes total and segment wise profitability reports, product wise portfolio analysis, Business Indicators report, Mark-up and Fee income analysis, Budget variance analysis report and expense comparison report.
• Provide support to Senior Management in formulation of Bank-wide strategy, by performing various financial analysis.
• To attend Senior Management Committee (SMC) on monthly basis, and present various financial analysis on overall performance of the bank.
• To attend monthly business reviews with Senior Management Committee (SMC), and highlight the weaknesses and the strength of each business group.
• Responsible to perform analysis on various advances products like Term loan, Running finance, Export re-finance, FATR and other trade finance products to obtain the reason of low/high gross yield. Also analyze the Deposits side (CASA and TD) to obtain the information about high cost deposits, top 20 customers, Gape analysis and maturities.
• Responsible for preparation of annual segmental financial budget of entire bank through using the tool of financial modeling, which includes businesses like (Corporate, Commercial, Retail Banking, SME and Consumer banking).
• Responsible for monthly CAPEX reporting, same report would be reviewed by the Senior Management of the bank.
• Designed the mechanism of cost allocation process for determine the true profitability of the business.
• The bank has successfully launched CREDIT CARD, I represented the finance in pre-launching activities like system development and preparation of accounting manual.
• Lead the team which performs the task of General Ledger (GL) accounting, daily and monthly GL closing and generating various closing reports, recording daily transactions like, Credit Card Visa transactions, merchant settlement, repayment of installment loans of Auto financing / leasing, Mortgage and personal financing, loan disbursement, vendors payments and others.
• On behalf of finance department, responsible to maintain the portfolio of following products in ERP environment, moreover the most important responsibility is to reconcile sub-ledger and GL at any point of time.
• Responsible for monthly financial reporting to Group Head, Business Heads and principal office, in spread sheet and power point, which includes total and segment wise profitability reports, product wise portfolio analysis, Business Indicators report, Mark-up and Fee income analysis, Budget variance analysis report and expense comparison report.
• Responsible for preparation of annual financial budget of Consumer banking group through using the tool of financial modeling, which includes products like (Auto financing / leasing, Personal loan, Mortgage Finance, Bancassurance and Credit Card).
• Perform detail analysis of variances between budget and actual numbers, and prepare comprehensive report which include, the reasoning of variances, highlighting the weak areas and potential opportunities within the domain of Consumer Group Head.
• Accountable for strict compliance of IFRS, International Accounting Standards (IAS), General Principal of Accounting and Bank financial policy.
• Responsible for co-ordination / communication with external and internal auditors, State Bank’s auditors and other regulatory authorities.
• Responsible for completeness and appropriateness of lease documents, including lease agreement, indemnity & guarantee and insurance papers at the time of lease disbursement.
• Responsible for supervised complete lease disbursement process.
• Responsible for scrutiny and preparation of different lease proposals to customers.
• Preparation of credit evaluation report of lessee before lease disbursement. Also responsible for extraction of credit worthiness report from e-CIB online system. Attended one week special training of new e-CIB system at State Bank of Pakistan Training Center.
• To compliance all Prudential Regulations of NBFI’s at the time of execution of lease agreement.
• Worked as Account Manager to maintain customer account, total portfolio size 200 million PKR.
• Represented company in Banking court during the proceedings of legal cases against defaulters
• Responsible for lease rentals collection and recoveries.
• Preparation of account wise delinquent report for management reporting.
• Responsible for all rescheduling and restructuring of leases.
• Preparation of monthly accounts of the company according to the International Accounting Standards (IAS), GAAP and as per requirement of parent company (ORIX Corporation Japan). It includes balance sheet, profit and loss account and its notes along with different required schedules. After the review from finance director same reports to ORIX Corporation Japan through e-mail.
• Performed and supervised accounting of all types of leases includes finance lease, operating lease, sales & lease back and hire purchase. Major areas of accounting are income recognition of leases according to the annuity-based method, provision for bad debts and pre mature termination leases.
• Responsible for the reconciliation of lease receivable account (sub ledger) and control account i.e.(General ledger). The total portfolio was around 18 billion PKR included corporate lease, consumer finance lease and auto lease, also involved in the development of MIS system which facilitate user in reconciliation.
• Responsible for printing of annual, half year and quarterly accounts (as per statutory requirements) and supervised whole activity, also have experience of annual audit and the procedures and the communication with external auditor.
• Prepared and checked different proposals regarding rescheduling and restructuring of lease contracts and update current MIS system.
• Performed the complete process of payments related to the complex transactions like sales and lease back and syndicate leases, moreover validate all lease related documents before payment.
• Prepared bank reconciliation of bank accounts and performed resolution of all un-reconciled entries.
• Performed computation of average funding cost for monthly accruals at month end.
• Prepared customer wise delinquent report for management reporting.
Associated Cost & Management Accountant