Job Description:
Job Title: Legal Entity Controller
Corporate Title: Assistant Vice President
Location: Riyadh, Saudi Arabia
Company Overview:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
The Team:
The 4-person MENA Finance team (3 in UAE, 1 in Saudi Arabia) supports 4 legal entities across the UAE, Saudi Arabia, Qatar and Egypt, each subject to distinct regulatory and statutory requirements.
Role Description:
MLKSA is a Tier 3 regulated capital market institution and BAC’s sole legal entity operating in Saudi Arabia and a member of the Saudi Stock Exchange. The Finance role is registered with the Regulator (CMA) and serves as the principal Finance contact for the Saudi Tax Authority (ZATCA). Responsible for local reporting across statutory financial reporting and external audits, regulatory reporting (capital adequacy) and tax (CIT, VAT, WHT). Acts as a Subsidiary Governance Delegate supports MLKSA Audit Committee and Board meetings.
Responsibilities:
- Preparing month end close Journals in Oracle Cloud General Ledger
- Preparing monthly commentary on BS and PL variances for both local IFRS reporting and US GAAP
- Preparing MLKSA’s CMA Prudential Returns, and responses to the regulator on questions and surveys.
- Preparation of Financial Statements, working with Accounting Policy, presenting to the MLKSA Board.
- Support internal and external audits.
- Review of Trading PL, including reconciliation to GL, and proactive resolution of breaks.
- Obtaining Vendor Management approval on engagement letters
- VAT, WHT & CIT Compliance. Including leading tax inspections and appeals, e-Invoicing and Contracts Information Filing
- Completing and evidencing controls the monthly Supervisory Review
- Update and maintain Finance procedures and Intercompany agreements
- Work within the MENA finance team as a whole to develop knowledge share and provide appropriate levels of cover
What we are looking for:
- Qualified accountant
- Ample Excel skills
- Can work well both individually as well as part of a team
Bank of America:
Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of gender/sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status, socio-economic background, responsibility for dependants, family status or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.