Senior Manager, Planning & Performance

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose:

The role holder will be responsible for supporting the Group CFO and Head of Planning and Performance, whilst leading the annual plans, regular and reliable forecasting and business performance reporting including capital and balance sheet planning, Expense governance including budget monitoring, project / cost management across the group, business case challenge and analysis to aid executive decisions. Act as a No. 2 to the Head of Planning and Performance in successfully driving the team in its delivery of monthly, quarterly and annual reporting, including ad hoc requests and various initiatives. Provide oversight and support on financial performance reporting and analysis bank wide. The role will assist in translating business strategy into measurable objectives and metrics to enable regular monitoring and performance measurement against business goals and strategy.

Principal Accountabilities:



Work Management:

Financial Plans: Lead the bank wide Planning process end to end which will involve interaction and discussion with senior stakeholders. Planning process will include detailed working on revenue, expenses balance sheet and key ratio plans at bank level, business unit and performance unit level. This will also include detailed workings on expense plans for every business and support unit.

Forecasting: Build and implement rolling forecast for the bank and business units, including detailed capital and balance sheet forecasting

Business Performance and Insight: Manage the preparation of monthly performance reporting ensuring deadlines are met, integrity and consistency of financial information and usability of end users. This includes providing deep insight, scenario analysis and recommendations to drive business performance to achieve enterprise strategic goals. Insight to span revenue, expense, capital, return on equity, regulatory, liquidity and funding dimensions. The insight is to be aimed at assisting business decisions through fact based timely, accurate and insightful financial data and analytics. Analysis providing direction and thinking to support decision making such as any new business proposition, product promotion etc.

Net Interest Margin Analysis: Develop and maintain model with detailed customer level analysis of the interest margins for all products with historical trends. The model to include simulation of the impact of margin movements.

Peer Group Analysis: Develop detailed packs showing comparative against Tier 1 banks and CBD peer groups on various parameters including 5 year quarterly movements in revenue, expenses, operating profit, provisions, net profit, assets, loans and deposits. Comprehensive UAE Bank benchmarking which includes various financial parameters such as return on asset, return on equity, dividend yield, price to earnings, market capital, loan and deposit market share, price to book etc.

Economic Updates: Support the preparation of the Board pack and Investor pack with Economic updates such as UAE purchasing managers index, UAE GDP growth, CPI & inflation, Oil prices, GDP by sector, growth in economy, CBD’s corporate social responsibilities and CBD awards

Cost Control: Manage the cost center structure in conformity with Bank’s cost management framework with active business engagement to deliver cost reports. Support in achieving the banks cost targets by ensuring adequate cost controls and transparency and analysis including but not limited to cost center review & and process efficiency. Propose control improvements, enhancements and simplifications where appropriate.

Financial Modelling: Prepare detailed financial projections and models for the various business initiatives of the bank to evaluate them in terms of financial returns and economic viability after considering various scenarios and all the risks involved.

Projects and Transformation: Take initiative to investigate and recommend suitable suggestions to improve the effectiveness of the MI produced. Engage with business owners to define methodology and business logic for new performance measures. Identify and resolve issues, errors, gaps between data sources and business requirements. Own the calculation process that transforms raw data into structured information for reporting needs

Adhoc requirements and SOP: Support ad-hoc business queries and return measurements to meet the needs of senior stakeholders for day-to-day operation management. Ensure adequate documentation is adhered to at all times for all standard process through ‘Departmental operating Instructions’ & ‘ Standard operating procedures’

Requirements

Education and Experience:

Bachelor or Master Degree from the reputed universities

8 years’ experience in financial services

Deep understanding of banking products, planning, operations, profitability, performance analysis, MIS and reporting. Ability to understand business requirements and combine good financial acumen with accounting principles/ other regulations to contribute to banks strategy and profitability.

Expert knowledge on financial modelling, financial & management accounting and commercial attributes associated with full scale banking activity.

3+ years’ experience working in accounting public practice