Finance Officer - ADGM

Job Description

The Finance Officer is a Controlled Function under GEN 5.3.5 and carries responsibility for the firm's compliance with the applicable Rules in PRU. The role owns the finance function of ZAD's Abu Dhabi Global Market entity, an FSRA authorised firm in prudential Category 3A conducting Islamic Financial Business, covering accounting, financial reporting, regulatory capital, liquidity and prudential returns. The role maintains capital resources above the Category 3A base capital requirement and above the applicable risk based capital requirement, and is the single owner of the prudential capital notification to the FSRA.

Responsibilities

• Hold responsibility for the firm's compliance with the applicable Rules in PRU.
• Monitor capital resources against the Capital Requirement at a frequency agreed with the Finance Committee.
• Act as the single owner of the prudential capital notification, and notify the FSRA where capital falls below 120 percent of the requirement.
• Prepare and submit all prudential returns through the FSRA electronic prudential reporting system, meeting the four month, one month and fifteen day deadlines.
• Provide the financial data, forecasts and stress testing inputs for the ICAAP and the IRAP, which the Risk Officer owns.
• Own the accounting records, the month end and year end close, and the preparation of the financial statements.
• Apply AAOIFI financial accounting standards where they govern the firm's Islamic products, and IFRS where it applies.
• Manage the annual external audit with an auditor registered in ADGM, and resolve audit findings.
• Own budgeting, forecasting, cost control and management reporting.
• Maintain and evidence the segregation and reconciliation of client money and client assets from firm money.
• Manage banking relationships, liquidity and cash flow, and confirm treasury arrangements are Shari'a compliant.
• Maintain financial controls, the delegation of authority and payment approval workflows with proper segregation of duties.
• Own the finance elements of the tax, economic substance and corporate filing calendar for the ADGM entity.
• Report the firm's financial and prudential position to the Finance Committee at every scheduled meeting, and to the Board.

Hiring Criteria

• Bachelor degree in Accounting, Finance or a related field.
• Qualified accountant holding CPA, ACCA, CA, CMA or an equivalent professional certification.
• Eight or more years in finance within regulated financial services, including at least three with direct responsibility for regulatory capital and prudential reporting.
• Demonstrated ownership of prudential returns to a financial regulator, ideally ADGM FSRA or DFSA.
• Experience of an investment firm or brokerage balance sheet, including client money and client asset segregation.
• Experience supporting an ICAAP or an equivalent capital adequacy assessment.
• Experience applying AAOIFI financial accounting standards is preferred.
• FSRA approval as an Approved Person performing the Finance Officer Controlled Function is required before the function is performed.
• Must be resident in the United Arab Emirates. This is a ZAD requirement for all ADGM roles.