Financial Analyst (Iraqi nationals preferred)

Job: Finance
Primary Location: Africa & Middle East-Iraq-Baghdad
Schedule: Full-time
Employee Status: Permanent
Posting Date: 25/Aug/2021, 6:52:15 PM
Unposting Date: 09/Sep/2021, 1:59:00 AM

 

About Standard Chartered 

We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.

 

To us, good performance is about much more than turning a profit.  It’s about showing how you embody our valued behaviours – do the right thing, better together and never settle – as well as our brand promise, Here for good.

 

We’re committed to promoting equality in the workplace and creating an inclusive and flexible culture – one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.

 

JOB PURPOSE:

The job purpose of the Finance Analyst, Iraq is primarily as below:

• Responsible for Regulatory Reporting.
• Responsible for Group reporting Management and Financial (IFRS) and business MIS and support.
• To facilitate / co-ordinate expense processing done by AO in FSSC.
• To assist cost management in Iraq through effective financial business support to the CFO / Businesses.
• To provide effective financial support to other finance customers like Group Finance, Group Auditors, Statutory Auditors, Local Regulators, Other Support Functions, etc.
• To provide effective financial support to country businesses through analysis and insight.
• To maintain an effective control environment ensuring that all regulatory and financial control requirements are met. Most importantly, to ensure the robustness and integrity of the General Ledger of the Bank.
• To ensure compliance and implementation of Group standards and policies as also local regulatory policies impacting Finance.

• To be a value-added, professional and cost effective finance service provider to all interested parties, within and outside the Bank.

KEY RESPONSIBILITIES:

Regulatory reporting

• To ensure high quality regulatory reporting in compliance with CBI regulations and requirements and implementation of Group standards and policies where required.
• To confirm the accuracy, perform a variance analysis with the previous submission and ensure that all returns are submitted by the due dates.

• To maintain adequate documentation in respect of regulatory returns.

• To check that the capital adequacy and other regulatory ratios on a daily basis and escalate breaches, if any.

Group reporting Management and Financial (IFRS) and business MIS and support

• Ensure daily, weekly and monthly group reporting processes are robust and financial controls are in place to prevent accounting errors and inaccuracies.
• Management reporting process for WB performance within agreed Group or Regional deadlines

• Ensure compliance of Wholesale banking products to Group Accounting Policy.

• Assist Operations and Transaction Processing System owners to develop robust processes & ensure effective escalation for appropriate action, where necessary.

• Ensure new and existing Product Programmes have clear accounting entries and align with RIWAC and RWA guidelines.

• Ensure timely and accurate reporting for all internal and external reporting, e.g. Business Flash, Management Results, Forecasts, etc.

• Ensure cost accruals are made in line with financial control policy and tracking of accruals.

Expense processing and cost management

• To ensure adherence to Delegated Authorities.
• To ensure that the correct account number and the cost centers are mentioned on the bills / invoices / reimbursement claims so as to optimise the efficiency and facilitate accuracy in expense processing in FSSC, AP unit.
• To facilitate cost management by highlighting abnormal costs, giving cost cutting suggestions.

• To maintain a proper filing system for expenses.

Fixed Assets Management

• To ensure adherence to the Group Accounting Policy.
• Check the entries for depreciation are correctly coded for the account number and the cost centers.

• To maintain an up-to-date Fixed Assets register and ensure reconciliation of the register to the GL on a monthly basis.
• To facilitate the physical verification of fixed assets conducted by Support Services.

General Ledger reconciliation and controls

• To ensure that a timely and effective reconciliation is carried out for the accounts owned by Finance (ie. provisions, sundries, fixed assets and project accounts).

• To ensure completeness and quality of the reconciliations received from other departments.
• To assist in the adoption and implementation of the Financial Control Policies and ensure compliance to the same. To ensure that effective control tools like KRIs, KCS and KCSA are in place.
• To update the GL database immediately on receiving a account maintenance request

Others

• Maintain updated DOI’s for all in country processes, and ensure a periodic review on DOI’s for team’s supporting Iraq in the hub centers.

 

KEY RELATIONSHIPS:

 

Internal

• CEO, Iraq
• CFO, ME excl UAE
• FC, Iraq
• Heads of businesses
• Heads of Operations / Service Delivery
• Group Finance
• Group Taxation
• Group Treasury
• Group Market Risk
• Group Auditors
• FSSC (All teams)

External

• KPMG External Auditors
• Regulator
• Tax authorities
• Tax Advisor E&Y

KEY MEASURABLES:

• Integrity and independence of the Finance function and impeccable trust.
• An appropriate and focussed level of Finance business partnership, support and challenge.
• A strong focus on cost management including value added, analytical, insightful and timely information delivery, a well understood cost base, strong anticipatory and accrual cost processes and forward looking forecast information.
• A strong and robust financial control framework with minimal surprises. A clear message of zero tolerance on financial controls.
• Compliance from a financial point of view on all Group policies, IAS, Local Regulatory Policies, Delegation of Authority, etc. Minimization of financial compliance risk.
• Good network with Auditors, Local Regulators and Group Finance.

 

Apply now to join the Bank for those with big career ambitions.

 

To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.