Description:
RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including personal and business banking, credit cards, loans, investment services, and wealth management.
In the recent years, the Bank has achieved significant milestones which includes being named as one of the world’s best banks by Forbes ME (2022) and was awarded UAE’s SME Bank of the year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending, and business loans.
Being on a transformational journey, in partnership with Honeywell, RAKBANK has also taken steps towards sustainability by reducing its overall energy consumption.
We are a diverse team comprising of over 3,000 employees from across 58 countries. We make conscious efforts to build talented and diversified teams and encourage people to develop their full potential. We are committed to providing a working environment that promotes work-life balance, career development, recognition and security for the future.
In line with our strategy, a major part of our transformation journey is to future proof our bank and establish ourselves as a ‘Digital bank with human touch’, for our customers.
So join us in co-creating the future of RAKBANK!
What You Will Be Doing
Overseeing and managing all the financial/accounting aspects of the Bank’s treasury products
Monitoring and reporting treasury products (with focus on including interest rate, liquidity, and market risks).
Monitoring risk management strategies and controls in line with Bank’s accounting policy, IFRS, mandate of Investment committee and ERM framework
Ensuring accurate and timely financial reporting for treasury products and transactions, including reconciliation of trading positions, P&L, and balance sheet accounts
What You Should Have
Experience in analyzing financial data, ensuring compliance with regulations, and providing financial reporting and insights to support Bank’s treasury operations
Ability to ensure proper valuation of treasury products, derivatives, and financial instruments in accordance with accounting standards and regulatory guidelines (including price verification)
Ability to perform impairment analysis of treasury investments
Experience in analyzing the performance of treasury products and providing insights to senior management on profitability, risk and potential opportunities
Experience in contributing to budgeting and forecasting processes and assisting in setting financial targets and monitoring performance against them
Ability to identify and implement process improvements to enhance efficiency, accuracy, and control within the treasury product control functions
Experience in collaborating with other departments and stakeholders to provide insights and recommendations regarding treasury products
What We Are Looking For
Minimum 5 to 10 years of experience in treasury operations, financial control or product control within the banking industry
Bachelor’s degree in Finance, Accounting or any related field is required.
Professional qualification (CA/CPA/ACCA or equivalent) preferred
Deep understanding of treasury products, financial markets and risk management
Strong quantitative and analytical skills for managing and controlling treasury products effectively
Knowledge of financial regulations and ability to ensure compliance with them
Strong communication skills and ability to collaborate with various stakeholders
Proficient in financial modelling, data analysis and use of financial software
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