Director, Financial Controls
Vacancy Number: 2262
Department/Unit: Finance / Financial Controls
Date of Issuance: May 26, 2025
Deadline of Applications: Vacancy open until filled
Required Languages: English
Contract Type: Fixed Term Contract
Grade: Management
Job Category: H1
Recruitment Status: International
Contract Duration: Two-year fixed term appointment, with the possibility of renewal
This is a readvertisement of the vacancy. Candidates who already applied do not need to re-submit their application.
Job Profile
The Director, Financial Controls is responsible for managing and executing the work plan of the financial controls unit in accordance with the institutional strategy and framework, to lead the implementation of a robust internal control framework and ensure the timely, accurate delivery of financial statements in full compliance with accounting standards, Fundโs policies and priorities as well as international best practices.
Duties and Responsibilities
Financial management and control
Ensures quality controls over financial transactions, maintains accurate records of accounts and supporting documents for all financial transactions of the OPEC FundManages the financial reporting requirements of the Fund and any special funds under the OPEC Fundโs administration to safeguard financial integrity and ensure compliance with International Financial Reporting Standards and other Special Accounting StandardsLeads the quarter-end and year-end close process to ensure accurate and timely reportingAuthorizes administrative payments in accordance with the relevant approvals, rules and guidelinesVerifies compliance with financial/accounting rules and procedures, including cost center allocationPromotes a sound internal control environment by managing the design, implementation, update, and dissemination of policies, procedures and guidelines for recording, processing and reporting financial transactions.Drives financial innovation and leads the implementation of best practices, systems enhancements, and workflow optimization
Back Office
Oversees banking and custodian relationships to ensure all financial transactions are executed and settled timelyAdvises and partners with Treasury on a wide-ranging of activities, including cash and liquidity management, foreign exchange, funding and reporting valuations externally to the Custodian and internally for accounting purposesReviews and authorizes the confirmation of treasury deals, in accordance with the approvals and established procedures, rules and regulationsSupervises the creation and maintenance of business partner records
Leadership and direction
Provides leadership and manages a highly skilled, multicultural diverse team of professionals with direct reporting from Accounting (Financial Controls and Reporting) and Back OfficeLeads by example, inspiring and motivating the team to maintain the highest level of engagement with the institutionDrives and supports change management initiativesManages engagement with external auditors to assist them to discharge their responsibilities, ensuring accurate, timely, and complete submission of financial data to the Audit & Risk CommitteeDevelops and mentors staff and supports personal development plans
Capability building
Strengthens the capacity building of the Fund by leading the enhancement of financial management processes and procedures; participates in the committee/s relevant to these matters.
Carries out other tasks assigned by the Vice President, Finance that are related to the job function.
Qualifications and Experience
Masterโs degree in Accounting, Business Administration, Financial Management or other related fieldA recognized accounting certification such as the CA or CPA is requiredMinimum of 15 years relevant professional experience.Preferably five (5) years at a senior level in an international banking institutionFluent in English. Good working knowledge of Arabic, French, German or Spanish is an added advantage.
Competencies
Subject Matter Knowledge - The in-depth understanding and expertise in specific fields relevant to the OPEC Fund's operations and the individual's role.Ability to Work Under Pressure - The capacity to remain composed, focused and productive when facing tight deadlines, high-stakes situations and demanding workloads.Collaboration and Teamwork - The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.Communication - The ability to relay ideas, information and messages effectively and succinctly to a variety of audiences.Customer Centricity - The ability to focus on comprehending and addressing customer needs; consistently deliver exceptional service and foster strong, lasting customer relationships. Cross-Cultural Sensitivity - The ability to take into account the variety of the human experience and how it contributes to the workplace and to demonstrate respect for diverse cultures and viewpoints.Decision making - The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications. Effective Planning and Follow Up - The ability to set clear goals and priorities; skillfully organize tasks for efficiency; consistently follow through on commitments and plans. Problem Solving Ability - The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges. Sense of Responsibility - The ability to demonstrate ownership and accountability in tasks and outcomes; uphold reliability and commitment to fulfilling responsibilities.
Leadership Competencies
Leadership & People Management - The ability to guide and empower team members effectively; cultivate a positive work climate; delegate tasks skillfully and nurture team members' growth. Results Orientation - The ability to set ambitious targets for self and the team; drive progress toward objectives; initiate actions to achieve desired outcome, Creativity, Initiative & Innovation - The ability to nurture novel concepts and inventive approaches; take calculated risks to foster innovation; identify chances for process enhancements and expansion. Trustworthiness, Ethics & Governance -The ability to act with integrity and transparency; safeguard confidentiality; demonstrate ethical decision-making and interactions; to adhere to organizational regulations and ethical benchmarks, foster a culture of compliance and strong governance; ensure team members understand and adhere to protocols. Business Alignment - The ability to align team objectives and undertakings with broader organizational aims; make decisions contributing to the organization's strategic direction.