Director, Financial Controls

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

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, Fund’s 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 Fund
• Manages the financial reporting requirements of the Fund and any special funds under the OPEC Fund’s administration to safeguard financial integrity and ensure compliance with International Financial Reporting Standards and other Special Accounting Standards
• Leads the quarter-end and year-end close process to ensure accurate and timely reporting
• Authorizes administrative payments in accordance with the relevant approvals, rules and guidelines
• Verifies compliance with financial/accounting rules and procedures, including cost center allocation
• Promotes 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 timely
• Advises 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 purposes
• Reviews and authorizes the confirmation of treasury deals, in accordance with the approvals and established procedures, rules and regulations
• Supervises 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 Office
• Leads by example, inspiring and motivating the team to maintain the highest level of engagement with the institution
• Drives and supports change management initiatives
• Manages engagement with external auditors to assist them to discharge their responsibilities, ensuring accurate, timely, and complete submission of financial data to the Audit & Risk Committee
• Develops 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

• Master’s degree in Accounting, Business Administration, Financial Management or other related field
• A recognized accounting certification such as the CA or CPA is required
• Minimum of 15 years relevant professional experience.
• Preferably five (5) years at a senior level in an international banking institution
• Fluent 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.