Vice President - Business Planning (Retail Banking)

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including personal and business banking, credit cards, loans, investment services, and wealth management.

In the recent years, the Bank has achieved significant milestones which includes being named as one of the world's best banks by Forbes ME (2022) and was awarded UAE's SME Bank of the year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending, and business loans.

Being on a transformational journey, in partnership with Honeywell, RAKBANK has also taken steps towards sustainability by reducing its overall energy consumption.

We are a diverse team comprising of over 3,000 employees from across 58 countries. We make conscious efforts to build talented and diversified teams and encourage people to develop their full potential. We are committed to providing a working environment that promotes work-life balance, career development, recognition and security for the future.

In line with our strategy, a major part of our transformation journey is to future proof our bank and establish ourselves as a ‘Digital bank with human touch’, for our customers.

So join us in co-creating the future of RAKBANK!

What You Will Be Doing

• Developing and implementing strategies for cost optimization across the Retail Banking function while maintaining operational efficiency and quality.
• Leading the budgeting process and ensuring alignment with strategic objectives (planning, tracking, and forecasting).
• Conducting detailed financial analysis to identify cost-saving opportunities and improve financial performance.
• Identifying and implementing process improvements to enhance efficiency and reduce costs.
• Assessing and managing financial risks associated with cost management activities.
• Collaborating with internal and external stakeholders to communicate financial performance and cost management strategies.
• Providing leadership and direction to a team of financial professionals to achieve cost management goals.
• Ensuring compliance with relevant regulatory requirements related to cost management.
• Contributing to the development of the bank’s overall strategic plans and initiatives.
• Developing and implementing business plans, budgets, and forecasts for the retail banking division.
• Playing a major role in the synergies workstream, resulting in the development of Synergies and Cost Reduction initiatives based on people, process, and systems.
• Monitoring key performance indicators (KPIs) and financial metrics to evaluate the effectiveness of business initiatives.
• Staying informed about regulatory changes and industry developments that may impact retail banking operations.

What You Should Have

• Strong financial analysis skills and experience in developing and implementing strategies for cost optimization.
• Proven leadership experience, with the ability to lead the budgeting process and provide direction to a team of financial professionals.
• In-depth knowledge of regulatory requirements related to cost management in the banking sector.
• Ability to conduct detailed financial analysis and identify cost-saving opportunities.
• Excellent communication and collaboration skills to work effectively with internal and external stakeholders.
• Strategic thinking and planning capabilities to contribute to the development of overall strategic plans and initiatives.
• Experience in developing and implementing business plans, budgets, and forecasts for retail banking divisions.
• Familiarity with monitoring key performance indicators (KPIs) and financial metrics to evaluate business initiatives' effectiveness.

What We Are Looking For

• Bachelor's degree or related field, MBA preferred.
• Minimum of 5 years of experience in business planning, financial analysis, or retail banking management.
• Strong knowledge and solid skills in Microsoft Office applications, especially Excel, Access, and PowerPoint.
• Strong communication skills and interpersonal skills across diverse groups of people both verbal and written.
• A strategic thinker with a strong background in finance and cost management.
• Proven leadership skills and experience in leading teams to achieve cost management goals.
• Excellent communication and collaboration abilities to work effectively with internal and external stakeholders.
• Knowledge of regulatory requirements related to cost management in the banking sector.
• Strong financial analysis skills to identify cost-saving opportunities and improve financial performance.
• Ability to contribute to the development of the bank’s overall strategic plans and initiatives.
• Experience in developing and implementing business plans, budgets, and forecasts for retail banking divisions.
• Familiarity with monitoring key performance indicators (KPIs) and financial metrics to evaluate business initiatives' effectiveness.
• Adaptability to stay informed about regulatory changes and industry developments impacting retail banking operations.

What’s In It For You

• Pay for performance culture (Competitive and performance-linked compensation)
• Provision of medical care plan for your family and you
• Comprehensive Life insurance plan
• Diverse workforce and inclusive culture
• Career development and growth opportunities by design
• Work with the best minds in the field
• Get opportunities to bring your whole-self to the organization and perform to your best