Company Description
At RAKBANK, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank – we are a community that thrives on teamwork, cutting-edge solutions, and the highest standards of governance. Now, We’re looking for a dynamic Associate Vice President - Financial Planning & Analysis to join our team at Dubai Silicon Oasis, where you’ll lead the way in leveraging your expertise in Finance, you will drive the development and deployment of innovative models and insights that align with the bank’s strategic objectives, ensuring measurable impact and value creation.
Job Description

We are seeking an accomplished Assistant Vice President (AVP) of Financial Planning and Analysis to join our dynamic team in Dubai, United Arab Emirates. In this pivotal role, you will lead our financial planning efforts, providing strategic insights to drive business growth and optimize financial performance.

• Oversee all aspects of the Bank’s financial planning, budgeting, forecasting, reporting, and analysis. You will be providing insightful financial analyses and recommendations to support the achievement of RAKBANK’s business objectives, ensuring alignment with both short-term goals and long-term strategic vision.
• Lead the comprehensive budgeting and forecasting process for the organization, ensuring accuracy, timeliness, and strategic alignment of financial plans. This includes coordinating inputs from various departments and synthesizing them into cohesive financial projections.
• Develop sophisticated financial models to analyze and interpret complex financial data, identify trends, and make strategic recommendations. This involves utilizing advanced statistical techniques and predictive analytics to enhance forecasting accuracy.
• Monitor and analyze financial performance against key performance indicators (KPIs) and business objectives, providing regular updates to senior management and recommending corrective actions when necessary.
• Collaborate closely with internal stakeholders across departments to provide financial insights and support data-driven decision-making processes, acting as a strategic partner to business units.
• Prepare comprehensive management reports, executive-level presentations, and interactive dashboards for senior leadership, highlighting key financial metrics, trends, and potential risks or opportunities.
• Develop and manage detailed financial budgets, medium-term plans, and long-term forecasts to align with the organizational goals and objectives, incorporating scenario analysis and sensitivity testing.
• Support strategic decision-making through in-depth analytical insights, including cost-benefit analyses, return on investment calculations, and financial impact assessments of proposed initiatives.
• Evaluate and support the financial aspects of new product launches, ensuring viability and profitability through comprehensive financial modeling and market analysis.
• Monitor and maintain Risk-Adjusted Return on Capital (RORAC) and Risk Adjusted Return on Equity (RAROC) metrics, ensuring optimal capital allocation and risk-adjusted performance measurement.
• Establish and operationalize a robust, automated, and timely Management Information System (MIS) to support informed decision-making, including the implementation of advanced business intelligence tools.
• Conduct ad-hoc financial analysis and provide data-driven recommendations for process improvement and cost optimization, identifying areas for operational efficiency and margin enhancement.
• Stay updated on industry best practices, regulatory requirements, and economic trends impacting the financial services sector, incorporating this knowledge into financial planning and analysis processes.
• Supervise a team of financial analysts, providing mentorship, coaching, and guidance to support their professional development and ensure high-quality deliverables.
• Foster a culture of continuous improvement within the Financial Planning and Analysis team, encouraging innovation, efficiency, and best practices in financial management.

Qualifications

• A Bachelor’s degree in Finance, Accounting, or a closely related field is mandatory.
• A minimum of 10 years of extensive experience in financial planning and analysis, with a strong preference for candidates with a background in the banking sector.
• Professional certification such as CPA, CFA, or ACCA is highly desirable and will be viewed favorably.
• Demonstrated expertise in developing and implementing sophisticated financial plans, budgets, and forecasts is essential.
• Exceptional analytical and problem-solving skills are critical for success in this role.
• Proficiency in advanced financial modeling and forecasting tools is required.
• Proven ability to effectively manage and lead a high-performing team is crucial.
• Superior communication and presentation skills are necessary for interacting with senior leadership.
• Extensive experience working in a fast-paced, dynamic environment is imperative.

Additional Information

• Oversee all aspects of the Bank’s financial planning, budgeting, forecasting, reporting, and analysis. You will be providing insightful financial analyses and recommendations to support the achievement of RAKBANK’s business objectives, ensuring alignment with both short-term goals and long-term strategic vision.
• Lead the comprehensive budgeting and forecasting process for the organization, ensuring accuracy, timeliness, and strategic alignment of financial plans. This includes coordinating inputs from various departments and synthesizing them into cohesive financial projections.
• Develop sophisticated financial models to analyze and interpret complex financial data, identify trends, and make strategic recommendations. This involves utilizing advanced statistical techniques and predictive analytics to enhance forecasting accuracy.
• Monitor and analyze financial performance against key performance indicators (KPIs) and business objectives, providing regular updates to senior management and recommending corrective actions when necessary.
• Collaborate closely with internal stakeholders across departments to provide financial insights and support data-driven decision-making processes, acting as a strategic partner to business units.
• Prepare comprehensive management reports, executive-level presentations, and interactive dashboards for senior leadership, highlighting key financial metrics, trends, and potential risks or opportunities.
• Develop and manage detailed financial budgets, medium-term plans, and long-term forecasts to align with the organizational goals and objectives, incorporating scenario analysis and sensitivity testing.
• Support strategic decision-making through in-depth analytical insights, including cost-benefit analyses, return on investment calculations, and financial impact assessments of proposed initiatives.
• Evaluate and support the financial aspects of new product launches, ensuring viability and profitability through comprehensive financial modeling and market analysis.
• Monitor and maintain Risk-Adjusted Return on Capital (RORAC) and Risk Adjusted Return on Equity (RAROC) metrics, ensuring optimal capital allocation and risk-adjusted performance measurement.
• Establish and operationalize a robust, automated, and timely Management Information System (MIS) to support informed decision-making, including the implementation of advanced business intelligence tools.
• Conduct ad-hoc financial analysis and provide data-driven recommendations for process improvement and cost optimization, identifying areas for operational efficiency and margin enhancement.
• Stay updated on industry best practices, regulatory requirements, and economic trends impacting the financial services sector, incorporating this knowledge into financial planning and analysis processes.
• Supervise a team of financial analysts, providing mentorship, coaching, and guidance to support their professional development and ensure high-quality deliverables.
• Foster a culture of continuous improvement within the Financial Planning and Analysis team, encouraging innovation, efficiency, and best practices in financial management