Vice President - Accounting And Statutory Reporting

Role purpose:

To direct and supervise the activities of the Financial Accounts section at EMARAT in assuring the financial integrity of its accounts and to provide recommendations on improvements related to the implementation of new accounting systems and procedures in line with International Accounting Standards and industry best practice.

• Contributes to the development and implementation of the Finance & Accounts Department’s strategic priorities and goals
• Ensures business processes and work activities, relevant to position, are planned and executed in compliance with EMARAT policy, procedures and best practice to achieve business objectives in a safe, efficient and cost effective manner
• Conducts periodic review of policy, procedures and practices, relevant to position, to identify opportunities for improvement and engagement in best practice
• Generates periodic financial reports as per procedures in an accurate and timely manner, to meet company and department requirements, policies and standards
• Analyzes and interprets financial statement reports, cost controls and expenses in coordination with Department Managers and JV partners towards optimum utilization of company’s resources
• Supervises and approves all activities related to the reconciliation ledger accounts, general and retail accounting units, and inventory to maintain integrity of financial information
• Conducts financial prudence in all decisions; approves operational expenses within level of authority
• Exercises Finance mandate on objectively reviewing documentation; co-ordinates with external and state auditors on all matters relating to year end accounts and interim audits
• Reviews and approves all cheques and cash requests, and authorizes letters to banks for the transfer of funds ensuring compliance with authority limits and corporation policies and procedures
• Reviews and controls inputs and updates to the Payroll module and reconciles all monthly payroll payments with relevant documentation to ensure accuracy
• Coordinates with Purchasing and Terminals for completion, proper recording and documentation of stock to ensure settlement of purchases in accordance with contractual terms
• Supervises all purchasing activities related to oil and material inventory to ensure that inventory transactions are accurately accounted for
• Supervises all retail accounting activities focusing on information related to supplier payments, stock control, cash discrepancies, and payments from the station proceeds in coordination with Retail Sales Management
• Reviews and analyses accounting systems and procedures on an on-going basis; recommends improved processes to facilitate work flow, financial control etc. while ensuring compliance with international accounting standards and benchmarking with industry best practices
• Coordinates with IT Department to implement new accounting systems relating to GL, inventory and Payroll activities in order to improve and automate working methods
• Establishes and maintains effective relationships with external parties required to meet EMARAT’s business and operational objectives
• Represents EMARAT vis-à-vis external stakeholders in areas of operational importance
• Works effectively, proactively and with urgency across EMARAT and externally to ensure the delivery of joint services/results that meet EMARAT’s interests, and for knowledge sharing
• Motivates staff and empowers direct reports by providing the necessary tools and support required to support Section goals and objectives
• Establishes clear direction, prioritizes tasks, assigns and delegates responsibility and monitor the workflow of the Section
• Builds opportunities for staff to suggest, participate in and contribute to improvement, innovation and knowledge sharing initiatives
• Provides guidance and ensures that the Section members comply with EMARAT’s policies, processes, practices and systems
• Ensures proper target setting and staff performance management in line

Knowledge:

• Deep knowledge of Financial Accounting, and financial policies and procedures
• Thorough understanding of financial management principles
• Good knowledge of regulatory rules and regulations in relation to financial practice and law

Education:

• Bachelors Degree in Finance or Accounting
• Certification of Public Accounts (CPA) / or equivalent

Experience:

• A minimum of 8 years experience within Finance or Accounting with at least 3 years in a managerial role
• Experience in the Oil & Gas Industry preferred

Competencies:

• Excellent Communication
• Business Acumen
• Analytical and Leadership skills
• Proficient in various accounting and business systems
• Role is for UAE national talent only