Finance Manager

 

Description:

Major Duties and Responsibilities

► Obtain and maintain a thorough understanding of the financial reporting and general ledger structure.

► Ensure the accuracy and authenticity of all accounting transactions as per the IFRS guidelines.

► Ensure an accurate and timely monthly, quarterly and year end closing and reporting.

► Provide necessary information and data required by the Auditors (Statutory & Internal)

► Ensure the quarterly reviews and annual auditing as per the management deadlines.

► Proper Accounting, monitoring and reconciliation for Intercompany transactions.

► Monitoring and reporting related party transactions.

► Ensuring timely collection from debtors.

► Recommend for appropriate provisions for bad debts on a consistent basis as per the company policy.

► Controls on records keeping, proper filing and documentation.

► Ensuring appropriate provisions for Zakat & VAT and coordinating for final Certificates from the GAZT.

► Coordinate with consultant for Withholding Tax (WHT) clearance and submitting necessary documents for WHT provisions. Ensuring compliance with WHT rules on monthly and quarterly basis.

► Inventory valuation and ageing analysis.

► Monitoring Fixed Assets Accounting and depreciation computation.

► Proper and timely booking of provisions, accruals and prepaid expenses

► Appropriate and accurate provisions for End of Service benefits.

► Keeping track of important Insurance policies of the company.

► Supports budget and forecasting activities.

► Competent in making 3 to 5 year’s financial projections.

► Must be conversant in making the capital investment evaluations (IRR, NPV Payback period etc.)

► Collaborates with the other department managers to achieve the overall goals and objectives of the company.

► Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.

► Advises staff regarding the handling of non-routine reporting transactions.

► Ensure that efficient cash flow is achieved in the entity.

► Responds to inquiries from the GCFO, GFC,Treasury Manager and other department managers regarding financial results and special reporting.

► Work with GCFO, GFC, Reporting Manager, Treasury Manager and to ensure clean and timely quarterly review and yearend audit.

► Supervise the general ledger group to ensure all financial reporting deadlines are met.

► Assist in development and implementation of new procedures and features to enhance the workflow of the department.

► Provide training to new and existing staff as needed.

► Handle personnel issues relating to staff conflicts, absenteeism, performance issues.

► Work with each direct report to establish goals and objectives for each year and monitor and advice on the progress to enhance the professional development of staff.

► Prepare the KPIs for all direct reports.

► Additional duties as directed by GFC & GCFO.

► Checking and Verifying all Booking of Payments and Receipts, Journal Entries of AR, AP, Cash and Bank, GL and Each Accounting Activities

► Monitoring and Controlling Chief Accountant and Other Accountants for Perform daily accounting activities such as journal entries.

► Coordinate with finance team to complete assigned accounting tasks within deadlines

► Reviewing all Payments, Collections and make sure properly booked in Oracle

► Provide guidance to Chief Accountant and Other Accountants.

► Calculate Daily pricing and Discounting for Sales Team.

► Monitor and record financial transactions according to company policies and regulations

► Verifying journal vouchers for entry of direct GL transactions (manual, recurring, allocation journals etc.) into the General Ledger. Verifying and Advising to Record all adjusting, closing and reversing entries to attain reconciliation of sub ledgers.

► Approving all POs and Checking Minimum Level and reason for Urgent Purchases.

► Managing Working Capital which including Inventories, AR, AP and Cash

► Ensure posting of sub-ledgers is performed on timely basis and in accordance with month end closing.

► Ensure that all accounting entries are supported with valid documentation.

► Ensure that all period end transactions have been recorded and posted to GL.

► Check and finalize all kind of payments, such as Supplier, Employee etc., includes online payments, payroll and control.

► Checking of All bookings and Verifying and classifying all fixed asset activity (depreciation, additions, disposals, transfers, and impairments) in both the general ledger and the fixed asset system.

► Cross check and approve LC invoices and other docs.

Monthly Basis Duties and responsibilities for Both SIP and SIPW:

► Preparing and Verifying Monthly Management Reporting for Both Companies.

► Perform financial analysis and prepare reports to GFC & GCFO as needed.

► Preparing Cash Flow Statements and Make Sure Funds are moving as per the Cash Flow.

► Reporting Sales, Collection to General Manager/CEO and Concerned Department on weekly basis.

► Working Capital Management of Both Companies which involving AR, AP, Inventories and Cash and bank.

► Coordinate with finance team to complete assigned accounting tasks within deadlines

► Reviewing all financial reports and statements

► Prepare journal vouchers for entry of direct GL transactions (manual, recurring, allocation journals etc.) into the General Ledger. Record all adjusting, closing and reversing entries to attain reconciliation of sub ledgers.

► Ensure that all period end transactions have been recorded and posted to GL.

► Formal Checking of payroll which is prepared and sent by HR.

► Perform accounts for all fixed asset activity (depreciation, additions, disposals, transfers, and impairments) in both the general ledger and the fixed asset system.

► Cross check and approve LC invoices and other docs.

Yearly Basis Duties and responsibilities for Both SIP and SIPW:

► Preparing the Budget for Both Companies and Review with Management.

► Reviewing, Adjusting of all financial reports and statements for Year

► Supporting with External Auditors for auditing the financial year activities by providing necessary information and preparing requested documentations.

► Capital Investment Analysis for Investing in Machineries and Other Capital Assets.

► Bench Mark and Target fixation and analysis and Comparison.

► Monstering and Advising Chief Accountant to prepare journal vouchers for entry of direct GL transactions (manual, recurring, allocation journals etc.) into the General Ledger. Record all adjusting, closing and reversing entries to attain reconciliation of sub ledgers and approving.

► Ensure posting of sub-ledgers is performed on timely basis and in accordance with yearend closing.

► Ensure that all accounting entries are supported with valid documentation.

► Ensure that all period end transactions have been recorded and posted to GL.

► Checking accounts for all fixed asset activity (depreciation, additions, disposals, transfers, and impairments) in both the general ledger and the fixed asset system for Yearend Closing.

Managerial

► Able to manage change and risk.

► Excellent communication skills and the ability to communicate financial issues with non-finance professionals and volunteers.

► Problem solving ability.

► Strong team player.

► Excellent interpersonal skills.

► Good planning and organizational skills.

► Priorities workload and meet strict deadlines.

► Priorities workload and meet strict deadlines.

Qualifications and Experience

A minimum of:

► Master’s Degree in Commerce

► Bachelor Degree in Commerce

► Certification of CA, CPA, CMA, ACCA, CFA etc.

► Will need to demonstrate that they can apply theoretical knowledge on relevant aspects of Finance & Accounting functions as per the IFRS, VAT, RETT, WHT guidelines.

► Report writing skills.

► Experience in ERP- Oracle to thrive in a fast -pace setting.

► Advanced IT skills (especially in Excel and Power Point).

► Minimum ten year’s managerial experience in finance and accounting in Manufacturing Industries.

► Must be PC proficient and have strong experience with Microsoft Excel, Word and Power point.

► Experience in ERP- Oracle to thrive in a fast -pace setting.

► Strong verbal and written communication skills.

► Strong interpersonal, supervisory skills required.

► Ability to multi-task, work under pressure and meet deadlines required.

► Relevant experience in preparation of management and financial accounts in accordance with IFRS regulations in a multi company organization.

► First-hand experience of planning, budgeting, forecasting and Financial Analysis.

► Consolidation of group accounts,

► Working experience in computation and filing of Zakat & VAT returns.