Chief Financial Officer (CFO) at Qatar First Bank – Qatar


Job Description

Qatar First Bank is always in search of top talent and bright minds to contribute to the current transformation taking place at our bank. We are looking for unique individuals that are passionate and hungry to add value. Every day at QFB is a different day that presents a new challenge with the opportunity to contribute and grow. We are currently looking for a Chief Financial Officer (CFO).
 
 
Purpose of the role:
This role is responsible for the management and control of corporate financial activities and management reporting. Banking experience is a must to be considered for this role.
 
Background:
QFB’s Finance Division contributes to the firm by partnering with each department’s business activities to understand and manage risks, measure profitability, and create solutions through quantitative analysis, projecting, and forecasting.
 
 
RESPONSIBILITIES:
 

  • Develop and maintain a comprehensive Financial Control framework for QFB in strategic alignment with the overall business objectives.
  • Drive the preparation of the Annual Financial Statement in close coordination with the top management.
  • Satisfy requirements of shareholders, directors, management, and government institutions and agencies for financial data related to QFB’s business
  • Oversee the production of Board papers and schedules and maintenance of all financial reports required under regulatory standards
  • Ensure expedient and accurate production of financial reports for internal and external purposes
  • Ensure timely preparation and accuracy of a financial reporting system for management and directors
  • Ensure QFB comply with all Qatar Financial Centre Regulatory Authority (QFC) and other government financial reporting requirements
  • Ensure consistent application of accounting policies and procedures in accordance with AAOIFI standards and that required changes are promptly documented and communicated throughout the bank
  • Ensure that accruals, adjustments, financings reserve requirements, etc., are made on a timely basis in accordance with QFC regulations and AAOIFI accounting principles/standards
  • Recommend a strategy to minimize domestic tax liabilities in line with existing rules and regulations and administer tax payments including Zakat.
  • Provide advice to marketing and product managers on tax and Zakat implications for purchasers of the bank’s products. Ensure that any changes in tax regulations/ rules which could impact products are advised to business units.
  • Manage relationship with external auditors, tax advisors and government bodies for tax-related issues
  • Ensure compliance with QFB’s policies and procedures
  • Ensure that planned targets are met and report on any positive or negative deviation from plan on a regular basis
  • Ensure required reports, audits, checks and returns are completed
  • Attend management conference and meetings as required
  • Plan, revise and approve the financial budget for Financial Control activities in close coordination with the management.
  • Ensure quality services are being offered by external consultants at acceptable rates.
  • Envisage measures to cut costs and improve productivity in the department.

 
 
D. KEY PERFORMANCE INDICATORS (KPI) – (To measure and monitor the performance of the role in the context of the Section/Department’s activities)
 

  • Accuracy of financial records
  • Timely submission of accurate reports to QFC and other government bodies
  • Number of Audit Findings
  • Alignment of the bank’s finance function with the strategy.
  • Efficiency of the strategic decision making as per the business insight
  • Timely management of strategic objectives and plans.
  • Compliance with procedural and legislative requirements.
  • Effective leadership of budget throughout the year

 
 

Skills

Minimum Experience & Essential Knowledge

  • 15 years experience in finance

 
Minimum Entry Qualifications

  • Bachelor degree in Commerce/Accounting, MBA preferred  
  • Familiar with AAOIFI and IFRS accounting standards
  • Experience in Banking/Big4
  • Experience with Financial Statements and year closings
  • Knowledge of corporate compliance and regulatory requirements
  • Knowledge of new amendments in the local regulatory environment (law).
  • Leadership skills
  • Coaching & Motivating            
  • Negotiation skills        
  • Problem Solving ability
  • Planning and organizing ability.
  • Teamwork & Delegation

Job Details

Job Location
Qatar

Company Industry
Banking

Company Type
Employer (Private Sector)

Job Role
Accounting and Auditing

Employment Type
Full Time Employee

Monthly Salary Range
Unspecified

Number of Vacancies
1

Preferred Candidate

Career Level
Senior Executive

Residence Location
Qatar



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