Job Description:

This position is a VP position, often the highest finance position in any organization in any industry.

Duties:

• The CFO oversees the entire financial operations of the company, all accounting departments and functions, as well as the internal audit function. The CFO is directly responsible for the company’s financial reports to stakeholders and tax authorities.

• The CFO directs the company’s financial strategy, heads management planning as top management – CEO and the other VPs confer on company action plans and forecasts. (Often, the CFO is known to be the most influential of all VPs as he or she can make or break any other VPs department goals with an opinion on the financial soundness of their plans and intentions.)

• The CFO directly supervises investment of company assets and its activities to raise funds from whatever sources.

• The CFO is responsible for identifying opportunities and trends for business expansion and other opportunities to raise the market value of the company’s stocks, if it is publicly-held, or to give more returns to investors.

Qualifications:

• Experience – At least a 10-year experience in a senior accounting/finance/audit position. This role requires extensive industry experience because seasoned judgment is key to making sound financial decisions especially in turbulent economic times.

• Education – Often, a master’s degree is required specifically in the finance and/or accounting field. Continuing Professional Education (CPE) is also a standard requirement, which is actually earned in credit units for various specialized trainings or conferences attended.

• Technical Qualifications – A professional license as an accountant (CPA or similar) is required. In specific financial services industries, additional certifications or licenses may be required. CFOs are also expected to be proficient with the latest accounting or audit applications in the market.

Salary Range:

AED 45,000 – negotiated sums. Salaries for top management positions are rarely disclosed and varies widely even within the industry. The bottom-line determinant of a CFO’s compensation package is their reputation, built over years of experience and industry associations.

Employers’ Description:

All reputable organizations with highly structured operations have finance directors. Often, these are large multinational or international firms with complex financial needs and operations. However, smaller firms with local, UAE only operations or Middle East-only operations may also hire CFOs.

Job Description:

This role is often found in financial services firms. Finance managers generally are advisors to clients and colleagues with regard to the soundness of economic or business decisions. In the banking and finance industries in Dubai, accountants report directly to Finance Managers (FM), who take these collated data and analyze them for reporting to the CFO.

Duties:

• The FM supervises general accounting and other finance teams and functions in their specific divisions or areas and report directly to the CFO.

• The FM provides management with data and interpretation of cash flows, as well as being primarily responsible for predicting trends and making projections.

• The FM is responsible for the implementation of the company’s finance policies and strategies, especially as it relates to clients and the company accounts.

Qualifications:

Experience – At least a five-year experience in a senior accounting role is important as advising, forecasting and projecting are largely functions that relies on experience.

Education – At least a Bachelor’s degree in a finance or related field; often a master’s degree is preferred. Continuing Education credit units is also a must, especially to show proof of keeping current with banking, investments, tax and other finance trends.

Technical Requirements – A CPA or equivalent is a pre-requisite, alongside a keen familiarity of accounting software and information systems used by banks and financial services firms. Excellent communication and interpersonal skills are also necessary as the FM manages a team of professionals.

Salary Range:

AED 15,000-40,000 or more

Employers’ Description:

Investment firms, mortgage companies and other firms specializing in financial services are the usual companies hiring finance managers, as they are often firms with regional and/or international operations or affiliates.

Job Description:

There are many different types of auditors but in the banking and financial services industries, there are two basic types – internal and external (independent) auditors. Internal auditors are those employed by banks and all the other financial services companies; external auditors on the other hand, are usually teams of auditors employed by Accounting/Audit firms who are hired by the banks or financial services companies for an independent financial statements audit or for other engagements. This is the same the world over. Regardless of whether you are seeking an internal or external audit position, the requirements are practically the same; you only differ in the type of audit you do for the most part. Internal auditors generally perform compliance and operations audits; external auditors perform financial statements audits.

Duties:

Compliance and performance audits. Collect data and analyze information as to efficiency of company operations and the effectiveness of automated and other internal control systems in place.

Independent audits. Analyze and verify completeness, appropriateness and reliability of management-prepared financial statements for external reporting purposes.

Reporting Requirements. Report to management on weaknesses and inefficiencies noted of the internal control systems; reports on detection of fraud and its impact on the company’s books and may recommend legal action to management.

Salary Range:

AED 5,000-25,000 depending on related professional qualifications, experience, organizational size and clientele and other factors.

Employers’ Description:

Several audit firms are offering a range of audit services in Dubai, including branches or affiliates of the big four firms in the world – PricewaterhouseCoopers, KPMG, Ernst & Young and Deloitte & Touche. Banks – local, regional and international banks have internal audit teams as well. These are prestigious, not to mention stable businesses with highly organized and highly structured operations.

Job Description:

Banks hire accountants to manage the numerous books of accounts they maintain for reporting purposes. Bank operations are complex as it often involves inter-company accounts, third-party liabilities and even offshore remittances. The banking industry is also a highly-regulated industry and Dubai’s banks are subject to special laws such as those pertaining to Islamic banking.

Duties:

• Finance Operations. Accountants oversee the day to day financial operations of the bank – conduct cash counts and look into daily teller reports, prepare checks for local and regional clearing, etc.

• Financial Reporting. Accountants maintain and update books of accounts, prepare reconciliations, analyses and reports for internal and external reporting requirements, especially as it relates to intercompany accounts and home office reporting requirements, as well as tax reports.

• Management Reporting. Accountants work as teams to report on the performance of multiple entities, consolidations and other complex financial reporting requirements, especially required and looked into by independent auditors and top management.

• Support functions. Accountants work closely with internal audit team in evaluation of internal control systems, especially in the selection of IT services providers and testing of systems.

Qualifications:

• Education – A Bachelor’s degree in Accounting is a must. A professional license as an accountant issued by any regulatory body is a plus. Although not a standard requirement, continuing education units pertaining to international business, correspondence banking and/or tax laws are excellent qualifications

• Technical Skills – Experience with specialized accounting software is a given; excellent MS Excel skills is a must. Familiarity with banking laws and the banking and financial services industry is an advantage. Proficiency with generally-accepted accounting principles (GAAP) and proficiency with various financial analysis techniques is also important.

• Other Requirements – Experience specific to the banking and financial services industries are not necessary although would definitely be an attractive item on the resume. Excellent communication skills is a must as accountants work with colleagues and clients both within and outside the UAE.

Salary Range:

AED 5,000-25,000, depending on position level, organization size and related qualifications.

Employers’ Description:

Various companies in the banking and financial services industries hire qualified professional accountants, with or without experience. As Dubai has become the financial center of the Middle East and Africa, many multinational firms with global presence are located here. In fact, accountants are among the most sought-after professionals in the Dubai job market.

Job Description:

Primarily positions in the customer service industry, banking and finance jobs in Dubai include this position in their list because in most cases, banks and financial services companies here do not outsource these positions to the customer service industry. Many financial companies choose to build an in-house team of telemarketers to handle their sales activities.

Duties:

• Sales-calling. This is primarily the task performed by telemarketers. Often, they call prospects who do not have account with the bank yet and encourage them to use their services. Often, if they are selling to employees of various companies, they push for Checking/Savings Accounts (CASAs), credit cards or loan products.

• Information Handling. Often, as telemarketers go about doing their sales calls, prospects would bombard them with questions pertaining to various aspects of business. As they handle their phone calls, telemarketers act like human FAQ specialists, explaining options, policies and other related information to clients.

• Documentation and Recording. As they go about their sales calls, telemarketers update their CRM databases and write reports on each phone call. When they succeed in making a sale, i.e., when clients agree to open an account with the bank, telemarketers collect relevant client information to effect such account openings and forward these to account managers for follow up.

Qualifications:

• Education- Some college is a common requirement, although experience in customer relations or client services is given more weight in the selection process.

• Technical Skills. Experience in the customer service industry is often a requirement, along with familiarity with any Client Relationship Management (CRM) applications. Excellent English communication skills is a must. Unless specified as a primary qualification, spoken Arabic is a core advantage.

• Other Requirements – Patience, professionalism and forbearance are necessary attributes required of most telemarketers. Stress-management skills would also be helpful as the job would generally be stressful. The Dubai market does not like telemarketers any less than the American or European market does.

Salary Range:

AED 3,500-8,000, often on salary plus commission basis.

Employers’ Description:

Banks and other financial services companies, including real estate and mortgage firms requiring telemarketers are generally developing business in the Dubai market. Often, these are Middle East branches of foreign financial services firms who are looking to penetrate the Dubai market. In established banks, telemarketers are required to generate sales and expand the bank’s market by offering additional financial products to existing clients.

Job Description:

This position is not unique to the banking industry even if banks are the only firms offering daily mercantile services that bring about a huge daily transaction volume. Other financial services firms offering quasi-banking functions such as Western Union for money transfers, also hire tellers.

Duties:

• Deposit/Payment Processing. Typically, bank tellers accept deposits, pay checks, receive associated payments and claims either for the specific client account or for third parties.

• Over-the-Counter Transactions. Exchanging foreign currencies, issuing of traveler’s checks, receipt and recording of loan payments on a per-transaction basis is also part of a teller’s job description.

• Specialized Tasks. Recordkeeping, tracking and reporting may also be required of tellers at the end of each day, depending on the type of transactions they process.

Qualifications:

• Education – At least a high school diploma is required but banks would prefer applicants with some college or graduates of associated courses looking for entry-level positions. In most cases, banks will offer training courses for new tellers as part of orientations to have them be familiar with internal control systems. Credit units earned in training on related fields would be a huge advantage.

• Technical Skills. Proficiency with computers and office machines is a requirement as tellers work with these on a daily basis.

• Other Requirements. Attention to detail is a must. Excellent organizational skills is also important.

Salary Range:

AED 3,000-4,500

Employers’ Description:

Banks are the primary employers of tellers. Depending on the size, a bank may hire one teller for specific functions or could hire one to do multiple teller functions. In larger banks, it’s not uncommon to have one teller attending to deposit accounts and other processing payroll checks and still another, taking care of third-party payments. In any case, vault tellers perform specialized functions and the position is often given to more experienced tellers.