Director, Financial Controls

Job Profile:

The Director, Financial Controls, is responsible for managing and executing the work plan of the financial controls unit in accordance with the institutional strategy and framework, to ensure a robust internal control framework and delivery of financial statements in full adherence to accounting standards, Fund’s policies and priorities as well as best practices.

Duties and Responsibilities:

Financial management and control

• Ensures quality controls over financial transactions, maintains accurate records of accounts and supporting documents for all financial transactions of the OPEC Fund
• Manages the financial reporting requirements of the OPEC Fund and any special funds under the OPEC Fund’s administration to safeguard financial integrity and ensure compliance with International Financial Reporting Standards and other Special Accounting Standards 
• Supports quarter-end and year-end accounting close process
• Authorizes all administrative payments in accordance with the relevant approvals, rules and guidelines
• Verifies compliance with financial/accounting rules and procedures, including cost center allocation
• Promotes a sound internal control environment by managing the design, implementation, update, and dissemination of policies, procedures and guidelines for recording, processing and reporting financial transactions
• Identifies opportunities for innovation and implementation of best practices, system updates and workflows optimization

Back Office 

• Oversees banking and custodian relationships to ensure all financial transactions are executed and settled timely
• Supports treasury on a wide-range of activities, including cash and liquidity management, foreign exchange, funding and reporting valuations externally to the Custodian and internally for accounting purposes
• Reviews and authorizes the confirmation of treasury deals, in accordance with the approvals and established procedures, rules and regulations
• Supervises the creation and maintenance of business partner records

Leadership and direction

• Provides leadership and manages a highly skilled, multicultural diverse team of professionals with direct reporting from Accounting (Financial Controls and Reporting) and Back Office 
• Leads by example, inspiring and motivating the team to maintain the highest level of engagement with the institution
• Drives and supports change management initiatives
• Manages the relationship with external auditors to assist them to discharge their responsibilities; accountable for all submissions to the Audit & Risk Committee that relate to Finance 
• Develops and mentors staff and supports personal development plans

Capability building

• Contributes to the strengthening and capacity building of the OPEC Fund by developing and/or improving management and organizational processes and procedures; participates in the committee/s relevant to these matters

Carries out other tasks assigned by the Vice President, Finance that are related to the job function.

Qualifications and Experience:

• Master’s degree in Accounting and Control/Business Administration, majoring in Accounting, Financial Management and other related field. 
• A recognized accounting certification such as the CA or CPA is required
• A minimum of 15 years relevant professional experience.
• Preferably seven years at a senior level in an international banking institution
• Fluent in English. Good working knowledge of Arabic, French, German or Spanish is an added advantage.