| JOB NAME |
Accountant (IFRS 17) [Jeddah, Saudi Arabia]
POSTED BY: Islamic Development Bank
REF:ISDB 2000
Date Published:Monday, July 22, 2024
Date of Expiration:Saturday, January 18, 2025
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| LOCATION OF THIS JOB |
 Saudi Arabia | JEDDAH in Saudi Arabia |
| INDUSTRY |
| DEVELOPMENT FINANCE INSTITUTIONS
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| JOB TYPE |
| Full-Time |
| MAIN JOB DESCRIPTION |
Ref. Number IDB3352
Business Unit: ICIEC
Division: Finance Division- ICIEC
Department: Finance and Treasury - ICIEC
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 25-Jul-2024
JOB PURPOSE:
1. The role holder is responsible for assisting Manager, Finance in ensuring compliance with IFRS 17 standards and providing accurate financial reporting and analysis.
2. In addition, this role is responsible for preparing financial reports and analyses in order to facilitate Senior Management decision making.
KEY RESPONSIBILITIES:
Core Responsibilities
Implementation and Compliance
1. Leads or supports the post implementation integration of IFRS 17 standards within the organization.
2. Ensures that all financial reporting processes and systems are aligned with IFRS 17 requirements.
3. Monitors changes in IFRS 17 regulations and assesses their impact on financial reporting practices.
Financial Reporting
1. Prepares and analyses financial statements, in accordance with IFRS.
2. Ensures accuracy and completeness of financial data and disclosures.
3. Consolidates financial data from various sources to produce consolidated financial statements.
Data Management and Analysis
1. Gathers and analyses financial data.
2. Performs detailed data reconciliations and validations to support financial reporting.
3. Identifies and investigates discrepancies or variances in financial data.
Auditing and Assurance
1. Conducts internal reviews to verify compliance with IFRS 17 standards and internal controls.
2. Assists external auditors during audits and provide necessary documentation and explanations.
3. Prepares audit schedules and support audit findings.
Cross-functional Collaboration
1. Works closely with other departments such as actuarial, IT, and legal to ensure comprehensive understanding and implementation of IFRS 17 requirements.
2. Provides guidance and training on IFRS 17 standards to finance and non-finance personnel as needed.
3. Collaborates with stakeholders to address issues and improve processes.
Accounting Statements
1. Assists the Lead Accountant in ensuring that the book accounts are updated at all times in order to facilitate accurate report generation for the Management decision making.
2. Assists the Lead Accountant in finalizing quarterly and annual financial statements in a timely and accurate manner.
Bookkeeping and General Ledger Management
1. Maintains and reconcile general ledger accounts.
2. Provides support in recording financial transactions and ensures entries are posted correctly and on time.
Audit Support
1. Assists in the preparation for and coordination of internal and external audits.
2. Provides audit schedules, documentation, and explanations as required.
3. Addresses audit findings and implements recommendations.
Documentation and Reporting
1. Maintains documentation of accounting policies and procedures.
2. Prepares and presents reports on IFRS 17 implementation progress and compliance status to management.
3. Prepares monthly reconciliations.
Continuous Improvement
1. Recommends and implements improvements to financial reporting processes and systems to enhance efficiency and accuracy in IFRS 17 reporting.
2. Stays updated with emerging trends and developments in IFRSs and Takaful accounting.
Special Projects
1. Participates in ad-hoc projects and initiatives as assigned by management.
2. Contributes to process improvements and organizational growth.
Other Responsibilities
1. The role holder will also perform duties pertinent to the Department/Division as assigned by his line manager.
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| REQUIREMENTS FOR THIS JOB |
Field of Study: Finance/Accountancy
ACADEMIC QUALIFICATIONS AND RELEVANT EXPERIENCE
Qualification Level EXPERIENCE
High School Diploma N/A
Bachelor’s Degree 5-8 years
Master’s Degree 2
Doctorate 0
Nature of Experience
1. Prior experience in Finance, in managing and handling financial accounting operations from financial, insurance, reinsurance and banking institutions.
2. In-depth experience in IFRS implementation.
Professional Certifications (as applicable)
Relevant certifications such as CPA / CA preferable.
Business Language Skills
Good command of written and spoken English essential, additional languages such as Arabic, French is an added advantage.
Key Performance Indicators
1. Timeliness and Quality of Reports
2. Timely and accurate generation of quarterly and year-end financial statements
3. Percent adherence to accounting norms (AAOIFI & IFRS)
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English 
FRENCH
