Assistant Manager, Financial Reporting (Mashreq Global Network Pakistan)

Mashreq, , Pakistan, Pakistan

1 day ago

Job description

Responsible for performing centralized accounting functions for MB subsidiaries (Osool, Mashreq Securities, Mashreq Capital, MFZ, Invictus, IDFAA, MAIFC, Centres of Excellence) and related MIS. Ensures accounting and control functions meet International Financial Reporting Standards, regulatory authorities, and the Bank’s Accounting Policies. Responsible for integrity of accounting and MIS, regulatory compliance, expense control, and completion of special projects, ensuring sundries are settled in accordance with the ADM. Manages Islamic Banking function, including preparation of financial statements, audits (external, internal, Shariah), regulatory approval, quarterly distribution of profit to customers through PMS, calculation of Zakah per shareholder, etc.

Key Result Areas :

Ensure recording of transactions and reporting for subsidiaries are in conformity with International Financial Reporting Standards and Bank’s Accounting Policies.
Finalize Annual / Quarterly Financial Accounts for subsidiaries as per International Financial Reporting Standards in liaison with external auditors, conduct audits, and submit to respective regulatory authorities.
Manage recording of Staff and Occupation / Administrative expense relating to all subsidiaries ensuring accurate recording in line with APPM.
Review outstanding items in Sundries Accounts of all subsidiaries for follow up and escalation for settlement / write‑off instructions / approvals in line with APPM, taking corrective action to safeguard against potential losses.
Investigate deviations in the GL and subsidiary accounts and arrange rectification by the concerned unit to keep the books balanced.
Regularly monitor nostro / mirror statements of all subsidiaries, investigate outstanding items, and take corrective actions with respective departments for clearance.
Review month‑end reports related to all subsidiaries and ensure correctness of data at month‑end.
Continuously review areas requiring automation for generating MIS efficiently and carry out testing for new or upgraded systems.
Update existing SOP and prepare new / changed processes for all subsidiaries.
Ensure and periodically update Service Level Agreements with all stakeholders.
Other miscellaneous functions include checking Online and EJ reports, coordinating year‑end processes with other departments and external auditors.
Run Islamic profit management system in coordination with business and Tech.
Prepare Islamic banking division in accordance with IFRS and Shariah supervisory board guidance.
Review daily disbursement of staff loans report and control reports.
Review SOC of UAE subsidiaries at month‑end, arrange rectifications of abnormal balances if any.

Knowledge, Skills and Experience :

Chartered Accountant with more than 4 years of experience in Accounting & Financial Reporting and Control functions, preferably in a bank.

Excellent interpersonal and written / spoken communication skills with good working knowledge of IFRS and regulatory guidelines.

Proficiency in ERP, Core Banking systems and various other application software is required.

Adherence to established policies & procedures, timeliness and accuracy to avoid inherent financial risk and potential punitive action from regulatory authorities.

Working relationships with all MB UAE & Ovs Branches / HO Departments, all staff of MashreqBank UAE, all Subsidiary Companies, External / Internal / Central Bank Auditors and other units.

Implementation of approved accounting policies with efficient and accurate maintenance of accounting records for production of timely MIS, regulatory and other requirements. Monitor checks on accounting records per IFRS standards to ensure high quality information, timely action, accurate maintenance, investigation, identification of system weaknesses, and improvement measures.

Ensure timely submission of financial statements and maintain accuracy.

Seniority Level

Associate

Employment Type

Full-time

Job Function

Finance

Banking

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Assistant Manager • , , Pakistan, Pakistan