Head of Accounting

The NORDIC INVESTMENT BANK (NIB) offers you the chance to do banking that makes a difference. The projects that we finance benefit the environment and improve productivity in the Nordic-Baltic region. We are an International Financial Institution owned by the eight Nordic and Baltic countries, and we offer you the possibility to work with experts from around the world. The journey working at NIB is a unique one and will provide you with valuable experiences. We value diversity and we are a community of some 250 professionals located in the heart of Helsinki. The atmosphere is international, and our official working language is English.

The outstanding lending portfolio amounts to some EUR 24 billion. The liquidity buffer portfolio amounts to EUR 17 billion, and the total balance sheet is EUR 42 billion. The Bank has the highest possible credit rating, AAA/Aaa, from leading credit rating agencies.

The Treasury and Finance department is now seeking a new Head of the Accounting Unit reporting to the Chief Financial Officer (CFO), Kim Skov Jensen, Head of Treasury and Finance department. The position is based at the Bank’s headquarters in Helsinki, Finland.

Head of Accounting

The Head of Accounting will be a member of the Treasury and Finance Management team. As Head of Accounting, you will be responsible for the accounting platform for the Nordic Investment Bank (NIB) that also is used for accounting services provided for the Nordic Development Fund (NDF) and the Nordic Environmental Finance Corporation (Nefco) and their various trust funds.

The team currently consists of 11 employees and is responsible for managing NIB’s financial controlling and internal and external financial reporting in a timely and accurate manner. The financial reporting is based on IFRS and the team has expertise in accounting techniques and works in close cooperation with other business and support functions of the Bank with the aim to secure accuracy, transparency, and efficiency in the financial reporting. You will collaborate closely with other parts of Treasury and Finance, as well as network with other International Financial Institutions and with Multinational Development Banks within the field of accounting. This role also encompasses the responsibility for two ongoing strategic transformation activities and integrating all sustainability and financial data and reporting. As Head of Accounting, you will play a pivotal role in developing the team, ways of working as well as the accounting and reporting platform.

Candidate Profile Expectations

Education

Relevant academic degree at Master’s or Bachelor’s level.

Responsibilities

• Lead and drive the Accountancy agenda and strategy for NIB.
• Lead and develop a team of 11 individuals.
• Lead the work in further developing NIB’s accounting standards, financial controls and the internal and external reporting of the Bank’s financial performance as well as its sustainability impact.
• Continuously strive for increased efficiency and accuracy in accounting processes and systems through standardization, automation, digitalisation and a strong focus on data quality and governance.
• Providing good accounting services to NDF and Nefco.
• Be a value-adding partner to the CFO and other key stakeholders in the Bank.
• Together with the Financial Planning Unit responsibility for reporting on the Bank’s activities to the Board of Directors, Control Committee and internal Management Committees established by the President and CEO of NIB.
• Managing the relationship to NIB’s external auditors.
• Responsibility for developing a strong sustainability reporting founded on same solid data and control processes as the reporting of financial figures.
• Drive two strategic transformational activities;
  • Implementing a new ERP system, and
  • Transitioning to the selected new external auditor that based on NIB’s audit rotation principle will take over from the existing one from 2025.
• Secure solid and value add level of communication with all external and internal stakeholders.

  Experience

• A minimum of 10 years relevant experience in accounting or auditing, preferably with a background in banking or other financial services business.
• Relevant experience in NIB’s member country markets.
• Formal leadership experience, and experience from change and project management.
• Deep understanding of IASB standards, hedge accounting, and loan, guarantees and financial instruments accounting and valuation techniques.
• Insight and knowledge of sustainability reporting standards, preferably including new ISSB standards, GRI, the TCFD framework and EU-developed standards.
• Experience in managing relationships with auditors.
• Understanding of liquidity ratios and capital adequacy measures will be an advantage.
• A proven track record of delivering good results and following strategic plans.
• Fluency in English, both spoken and written; knowledge of NIB member country languages is an advantage.

  Leadership & Personal Competencies

• Solid leadership skills with a focus on team development, engagement, and managing expert teams.
• Strong collaborative, team-working, communication and stakeholder management skills, capable of creating positive energy and momentum as well as gaining trust from key stakeholders.
• Intellectual capacity, with quick comprehension of complex matters and excellent problem-solving skills.
• Independent thinking with a proactive working style and high energy.
• High level of integrity.
• Analytical mindset and structured approach.
• Purpose-driven approach with an understanding of sustainability matters.
• Prestige less and able to contribute to the team delivery.

  What do we offer you?

• A unique opportunity to work for an International Financial Institution with a vision to support a prosperous and sustainable Nordic and Baltic region.
• The possibility to impact the strategic direction of the Bank through the contributions given on accounting and reporting matters when presenting to the Board of Directors and in Committees.
• An opportunity to further develop your professional skills.
• A role in an ambitious and supportive organization and the ability to proactively collaborate with colleagues in other Departments across the Bank.
• A flexible way of working combining office life and remote work.
• A dynamic workplace in the heart of Helsinki, a lively Nordic capital with a modern atmosphere.

For more information about NIB, please visit www.nib.int.

The executive search firm Amrop AB is supporting the recruitment process and Pernilla Engwall (pernilla.engwall@amrop.se) is pleased to answer any questions that may arise.

Further information about the position can also be obtained from Associate Director, HR Business Partner, Marcos Esteves, marcos.esteves@nib.int (+358 50 467 8488) or CFO, Kim Skov Jensen, kim.jensen@nib.int (+358 50 473 4347)

Applications, together with a CV, should be submitted in English and emailed to NIB@amrop.se, no later than 30 June 2024.

We warmly welcome expatriate employees and their families by supporting their relocation and integration to living in Finland.

The vision of NIB is a prosperous and sustainable Nordic-Baltic region. Our employees are our strongest asset in realising this vision. Our core values are competence, commitment and cooperation.

In recruitment, NIB puts the main emphasis on personal and professional qualifications and experience.

NIB is a professional expert organisation and encourages employees to continuously develop their professional competencies while maintaining a sustainable work-life balance.

All applications will be handled with strict confidentiality.