Business Financial Controller - Taqwa Islamic Banking

Division/Department: Taqwa Islamic Banking / Financial Controller Treasury & Pool Mangement

Grade Range: AVP1 to SVP1

Reports To: Head IBD

Job Summary:

The Financial Controller will assist in financial planning and attaining financial goals of BOP Taqwa Islamic Banking andwill have specific responsibility for the following;

Major Duties & Responsibilities to perform the Role:

Financial Planning & Management

• Serve as a member of the senior management team supporting strategic planning and decision making.
• Assisting Head IBD to maintain proper position of books.
• Development and adherence of policies, procedures and implement an effective financial control structure in the business group to ensure proper maintenance of books and its reconciliation and reporting in a timely and effective manner.
• Preparing annual budgets & forecasting and providing variance analysis on an ongoing basis liaising with senior management to have a good understanding of the financial performance.
• Preparation of daily activity reports.
• Preparation of analytical reports and making decisions with respect to funds deployment / placement, margins/ spread earnings, pricing, profitability etc.
• Identify areas of improvement and any unusual trends are properly investigated.
• Analyze and evaluate market and business opportunities.

Asset Liability Management

• Analysis of Deposits, Advances, Investments and Placements portfolio composition and related earnings and costs.
• Preparation of daily detailed deposit and advances composition reports in different manners like branch-wise, profit tier-wise, CASA, Over CASA, private & government deposit, region-wise, tenure-wise etc. for better analysis and decision making as well as for effective monitoring.
• Support management to make correct business decisions based on financial analysis of new products, acceptance of deposit at particular rates, pricing of Islamic Finance Facilities and making investments in various modes.
• Review of Balance Sheet along with Income & Expenditure Statements on regular basis and making necessary rectifications where required.
• Management of CRR, SLR, IRR and other regulatory reserves and ratios.

Profit Distribution & Pool Management System

• Managing Pool Management and Profit Distribution Mechanism under Islamic Banking arrangements in line with regulatory requirements.
• Managing placement of funds in different pools, their tagging to assets, and creation of special pools.
• Implementation of end to end automated PDPM system based system in coordination with CBS - ITD.
• Calculation / assignment of weightages, their approval from Shariah and circulation & display as per regulatory requirements.
• Calculation, Shariah approval, circulation & display of monthly profit rates as per regulatory requirements.
• Monitoring of monthly profit distribution mechanism.
• Review of profit rates and make analysis of Cost of Deposit/Funds, opportunity cost etc.
• Management of periodical audits of PDPM by internal and external auditors and Shariah Compliance Department.

Treasury Operations

• Liaising with Bank’s Treasury for management of all TIB Treasury Operations.
• Analysis of Treasury Investment opportunities and assisting senior management in this regard.                                                                                      

Accounting Operations & Financial Discipline

• Oversee accounting operations and managing quality control over financial transactions and reporting.
• Monitoring and rectification of daily Affairs and I&E differences in association with branches, operations and IT.
• Balancing, adjustment and reconciliation of various GLs.
• Smooth month-end, half year end and year-end closing processes.
• Supporting with taxation issues.
• Identifying accounting and financial issues and manage timely solutions and necessary rectifications.
• Monitoring of Sundry GLs. Monitoring of Cash in hand balances and their ratio to deposits and suggesting measures to reduce the risk and improve profitability.
• Counter-signing branches requests to open accounts with other banks and monitoring of limit breach and reconciliations. 

Performance Management

• Providing general staff leadership to the finance department in addition to improving policies and procedures.
• Develop a performance management system to help monitor key financial metrics.

Minimum 10 Years Banking experince including Financial Planning and Management, Asset Liability Management,Profit Distribution & Pool Mangement System,Traesury Operations,Accounting Operations & Financial Discipline,Performance Mangement.

Relevant Experience: 10 Years of banking experience

Qualification: Post Graduate / CA / ACMA

Location:  Head Office Lahore