Manager - Financial Accounting & Reporting

About the Role
This position is responsible for the management of overall Financial Accounting, Reporting, and Treasury function while overseeing the budget/forecast process. The role requires defining, developing, and implementing plans, policies, and procedures that conform to generally accepted accounting principles and comply with the approved policies and procedures of the company.

Functional Responsibilities
Accounting & Reporting

• Supervises and controls the general accounting operations, developing effective standards and systems to ensure strict compliance with IFRS, laws, rules, policies, and procedures. Ensures financial and accounting information is accurate and produced on time.
• Develop and maintain financial accounting systems for cash management, accounts payable, accounts receivable, credit control, and petty cash.
• Monitor the day-to-day accounting process and ensure all postings are completed on time; maintain the SL/GL and ensure all control accounts are reconciled and tallied.
• Prepare, verify, and record journal vouchers, ensuring entries are booked under appropriate accounting heads for all company transactions.
• Ensure all reconciliations, including cash and banks, are completed on time and pass necessary adjustment entries.
• Prepare and consolidate financial statements such as the Trial Balance, Profit and Loss statement, and Balance Sheet, incorporating budget information prepared by the Management Accountant; provide inputs on the administrative cost budget.
• Submit variance reports on a monthly basis along with the monthly accounts statement.
• Provide analysis and advice to the Senior Finance Manager on potential implications of proposed changes in accounting rules/policies and legislation/government rules.
• Participate in the period-end stock and physical verification program.
• Initiate the FA verification as per company policy.
• Monitor all CAPEX procurement and ensure it is within company budgets/policy.
• Analyze actual manufacturing expenses and prepare periodic reports comparing standard costs to actual production costs.
• Maintain accurate and up-to-date records of all financial transactions and present a report to the Senior Manager - Finance whenever required.
• Ensure monthly closing of financial books is done as per the scheduled timeline and submit the report to the Senior Manager - Finance.
• Ensure corporate tax for UAE and Zakat for KSA working and timely filing are completed as per FTA & ZATCA regulatory requirements.
• Partner with the Senior Finance Manager to develop and maintain process charts and policies, ensuring compliant, effective financial systems that support operations and future growth.
• In conjunction with the Senior Finance Manager, develop insurance policy and plans to ensure adequate coverage of risk to protect company assets. Send monthly declarations to insurance companies to cover all assets.
• Partner with function heads across the organization to identify and manage risks associated with the production of the annual report and accounts. Prepare the official annual report of actual revenues, transfers, and expenses.
• Ensure all team members in the Finance Department and organization are aware of any significant implications arising from changes in accounting rules.
• Ensure monthly VAT data is compiled and conduct necessary checks and balances. Prepare VAT returns, ensure VAT is filed on time, and that liabilities are settled well before the last date.
• Ensure all regular and special financial reports are circulated to shareholders for their consideration.
• Liaise with external and internal auditors to facilitate completion of statutory audits as per agreed schedules and ensure all audit recommendations and findings are acted upon promptly with necessary actions implemented.
• Partner with the Senior Finance Manager in developing and maintaining Liquidity and Funding Policy/Standard/Mandate and Contingency Funding Plan & associated stress scenario descriptions and assumptions.
• Oversee overall credit functions; set objectives for credit control function. Review monthly aging and circulate to Head-Commercial; highlight critical issues in collection and escalate at the right point.
• Ensure credit control is strictly followed and customer accounts are serviced according to norms.
• Ensure compliance with Safety, Quality, Food Safety, and Environment requirements specified in the global QHSE Management System with strict adherence to ISO and local regulatory authority.
• Ensure that all records and documents are up to date, true & correct, and have full traceability at all times, and that processes, procedures & activities meet and match those laid down under company ISO and management procedures.

Treasury Management

• Establish effective working relationships with banks and financial institutions to secure loans, overdrafts, guarantees, foreign exchanges, and other financial facilities at the most competitive rates for the company's cost benefit.
• Prepare and/or monitor the company’s quarterly cash flow forecasts and perform financial modeling; advise management on liquidity aspects of its short- and long-range planning.
• Prepare cash flow and fund flow statements, considering anticipated receipts and payments; highlight significant cash flow variances compared to the budget and advise on short-term placement of surplus funds to maximize it.
• Continuously monitor currency exposure and report to the Senior Manager-Finance, including details of the exposure and the hedging requirement.
• Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements.
• Review the Account Payables aging and ensure payments are released on time; direct the payable function.
• Ensure all payments are cross-checked and put up for approval.
• Ensure all documents pertaining to vendor payments are updated and cross-checked.

Budget/Annual Plan, Strategy Plans

• Assist the Senior Manager-Finance in annual budgets/forecast and strategic five-year planning; ensure timelines and guidelines are issued and followed up with various departments for timely submissions.
• Review submissions and ensure all required data are submitted.
• Complete budget preparation and compilation as per stipulated timeline.

Systems

• Effectively identify areas of improvement and implement necessary process changes.
• Monitor ERP software, reconcile all control and auto posting accounts, and the cost ledgers.
• Coordinate with the AMC support vendor to resolve areas of concern.
• Develop and support additional report requirements (Financial and Operational reports).

People Development

• Manage the effective achievement of team objectives through setting individual objectives, managing performance, developing and training staff, and providing formal and informal feedback to maximize overall performance and team motivation.

Requirements
Education/Qualifications

• Bachelor's degree in finance or accounting
• Qualified accountant (CA, ACA, ACCA, CPA, or equivalent)
• MBA preferred

Experience

• At least 8-10 years of financial experience in a manufacturing industry preferred.

Functional Skills & Specific Knowledge

• Expert knowledge of International Financial Reporting Standards
• In-depth knowledge of financial/ERP systems.