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 lead the implementation of a robust internal control framework and ensure the timely, accurate delivery of financial statements in full compliance with accounting standards, Fund’s policies and priorities as well as international 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 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
• Leads the quarter-end and year-end close process to ensure accurate and timely reporting
• Authorizes administrative payments in accordance with the relevant approvals, rules and guidelines
• Verifies compliance with financial/accounting rules and procedures, including cost center allocatio
• 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.
• Drives financial innovation and leads the implementation of best practices, systems enhancements, and workflow optimization

Back Office 

• Oversees banking and custodian relationships to ensure all financial transactions are executed and settled timely
• Advises and partners with Treasury on a wide-ranging 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 engagement with external auditors to assist them to discharge their responsibilities, ensuring accurate, timely, and complete submission of financial data to the Audit & Risk Committee
• Develops and mentors staff and supports personal development plans

Capability building

• Strengthens the capacity building of the Fund by leading the enhancement of financial management 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, Business Administration, Financial Management or other related field
• A recognized accounting certification such as the CA or CPA is required
• Minimum of 15 years relevant professional experience.
• Preferably five (5) 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.