Location :- Abu Dhabi
Brief about company :- Mazrui International - A diversified holding group with businesses across different industries such as Trading, Distribution, Construction, Real Estate, Oil & Gas/Oilfield Services, Financial Investments, Retail, Hospitality, Education etc. This role will be part of oil and gas/oilfield services division.
Website :- https://www.mazruiinternational.ae/ (Main Holding Group)
Due to urgency, candidates who are available to join immediately are highly preferred for this role.
Job Title :- Management Accountant
Reporting to :- Business Unit Finance Manager (BUFM)
Brief about the role :- Management Accountant will be part of oil and gas/oilfield services division. This role will mainly revolve around Management Reporting, Dashboards, Month-end closing, VAT (Value Added Tax), IFRS, Revenue Recognition, Incoterms/International Commercial Terms, ICV (In-Country Valuation registration/certification pertaining to ADNOC). This is not a typical accounting role but more focused on reporting/financial analysis.
Job Purpose :- The key purpose of this function is to prepare, develop and analyse management accounting information including effective delivery of statutory accounts and monthly management reports. To support the Finance Manager role (BUFM) on performing delegated duties and responsibilities of finance procedures, performance delivery and management controls. As well of supporting business management with ad-hoc financial information and administrative processes.
Key Responsibilities/Duties :-
- Finance and Accounting Services: Act as first point of contact and liaise with GL Team in the Group Accounting Services, to ensure that accurate Financial and Accounting records are maintained by providing accrual entries and checking of entries prior to GL Team closing the books, in accordance with IFRS & Accounting standards and management accounts are prepared accurately, efficiently as per agreed deadlines.
- Review / update Month-end Financial Report.
- Review of month end file produced by Group Accounting Services; highlight issues to BUFM and coordinate with operations and GAS team to resolve issues on a timely manner. Month end files contain reconciliations of subsidiary to GL balances, bank reconciliations, control accounts reconciliations Coordinate with Operations and Group Accounting Services for conducting physical verification of assets and ensure that financial records are correctly reflected. Ensure additions, disposals and impairments are approved as per policy for the Treatment of Fixed Assets. Maintaining the Tax routines as defined by the group policy such as submitting returns and other documents with the Tax department as advised by Tax Analyst.
To work in coordination with the BUFM to:
- Generate Reports related to Financial Reports in Discoverer & Hyperion, SWAN ,POWER BI & review with BUFM.
- Assist in Preparation of monthly Dashboard Reports (MINT)
- Run and review the standard periodic performance reports; assist BUFM in preparing nonstandard periodic and ad-hoc management reports.
- Assist BUFM in implementing approved Policies & Procedures; review efficacy or otherwise of internal control environment and bring to the attention of BUFM.
- To prepare Business and Financial Planning, including filling up various budget templates, interaction with users & HR, initial review, maintaining versions
- To prepare Financial Forecasting including periodic and ad-hoc financial forecasts on the companies’ planned performance.
- To prepare three months rolling Cash Flows forecast briefing BUFM of any issues
- Assist BUFM in coordinating with Auditors, answering audit queries, accompanying auditors during annual stock count, including the preparation/review of initial and final draft financial statements.
- Prepare Capex and Investment forms for review of BUFM. Ensure required documents are attached and follow the DOA.
- Assist BUFM in verification of Inventory Purchase Orders update BUFM. Ensure three quotes, quote analysis, justification for not attaching three quotes; stock demand sheets etc are attached.
- Ensure that Non-Inventory Purchase Orders follow a verification of three quotes, quote analysis, justification for not attaching three quotes is attached, whether the proposed expenses are as per plan and charge accounts are correctly selected.
Support the BUFM on the Working Capital Management activities:
- Accounts Receivable: Review completeness of customer credit application forms, obtain credit reports for customer credit appraisal, conduct periodic credit reviews for BUFM actions, and assist in reviewing open receivable balances.
- Accounts Payable: Coordinate with payables team under GAS to resolve any open issues, follow upon payments
- Work in Process & Inventory: Ensure review process is carried out by Operations periodically (cycle and physical counts)
- Ensure guarantee and letter of credit applications are filled up correctly, track guarantees issued and act as first point of contact point for Treasury.
Ensure the accurate and timely Financial Transactions such as:
- Petty Cash Payments: Verify that payments are made from petty cash in accordance with approved policies and procedures; ensure expenses are correctly coded. Ensure periodic surprise check of all applied funds and document and report to BUFM.
- Travel & other business expenses: Verify that payments are made/expenses are incurred in accordance with approved policies and procedures; ensure expenses are correctly coded.
- Costing of inventory: Ensure that application of landed cost is correctly done, and inventory is correctly valued. Inform BUFM of any deviations. Ensure no old transactions are pending in landed cost control accounts
- Open PO and SO: Review open purchase and sales orders and update BUFM of issues if any.
- Customer acceptance: Carry out periodic checks to ensure that revenue and COGS are recognised correctly. Update BUFM for issues if any.
- Others: Any other assignments that BUFM may give from time to time.
Ability & Skills :-
- Expertise in ERP Oracle
- Expertise in MS Office
- Knowledge in reporting tools, such as Power BI / Tableaux / Hyperion
- Experience in working collaboratively and constructively at all levels, including senior managers, to achieve company goals
- Good people and diplomacy skills at all levels within the organization
- Driven and pro-active with a focus on adding value
- Excellent communication skills (written and verbal)
- Analytical
- Decisive
- A strong team player
- High standards of ethics, professionalism, and respect for all employees
Experience :-
- 2 to 5 years' experience in finance roles preferably in financial analysis, reporting along with exposure to AP/AR.
- Experience in Oil and Gas/Oilfield services industry will be highly preferred.
Academic Qualifications :-
- Professional Accounting Certifications from CA, ACCA, CMA, CPA will be highly preferred
- Bachelor’s and Master's degree in commerce & Accounting can also be considered depending on the experience
Due to urgency, candidates who are available to join immediately are highly preferred for this role.
Please apply by attaching your CV only if you have relevant experience and qualifications.
Due to high volume of applications, only shortlisted candidates will be contacted.
