Financial Manager - NMES, UAE
at NOMAC in
Job highlightsPosted on March 30, 2021
Finance/Accounting department is mainly responsible in preparation, submission and control of accurate financial data for reporting purposes. It provides key support for all the operating units in all financial requirements: (i) Accounting (ii) Financial Control (iii) Treasury and (iv) Controllership.
The purpose of this position is to assist the Finance Head and provide accurate and data-based insights on NMES’s financial health by reviewing business performance and monitoring the value of long term contracts, in order to identify value adding opportunities to improve efficiencies and profitability of each project.
- Provide Financial Statements for the preparation and issuance of the Annual Audited Financial Reports based on IFRS before the second week of March of each year.
- Provide Annual Corporate Tax/ Zakat Return and Withholding Tax Summary to our Tax Auditor for the preparation of Annual Tax Return to be filed with DZIT and basis for the issuance of Zakat Certificate by last week of April.
- Provide Monthly Unaudited Financial Reports (Income Statement, Balance Sheet & Cash Statement with Variance Analysis between Actual and Budget) to our Shareholders before the 3rd day of each month.
- Closing of all SAP Modules (Inventory, Accounts Receivable, Accounts Payable and General Ledger by the last day of each month.
- Consolidation of Annual Departmental Budget and Preparation of Budgeted Financial Statements for submission to shareholders for their approval before second week of November.
- Coordinate the annual inventory physical count (December).
- Provide other reports/invoice as necessary during the conduct of company's business.
- Treasury & Controllership- ensure the financial health of the company by (i) maintenance of sufficient liquidity to meet all current, contingent and future liabilities, appropriate funding of budgeted business activities in the most efficient and cost effective manner; identify risks and related actions to help mitigate the effects of these risks to RPC's financial strength.
- Participate in monthly closing process, including performing variance analysis with comparison between actual and budget for variable expenses, both consumption of supplies and maintenance expenses.
- Prepares and analyze of actual vs. budget by profit/cost center, by expense account perform variance analysis.
- Prepares yearly financial budget in close coordination with all concerned departments/functions. Consolidate and analyze financial data (budgets, income statement forecasts etc.) taking into account Organizational goals and financial standing, providing alternatives and recommendations to the management to improve financial performance.
- Guide cost analysis process by establishing and enforcing policies and procedures; providing trends and forecasts; explaining processes and techniques; recommending actions.
- Conduct business studies on past, future and comparative performance and develop forecast models to consult with the management to guide and influence long-term and strategic decision making.
- Support the review of contracts and assumptions during the project evaluation phase and analyse the implementation of contracts, to ensure efficiencies and value adding opportunities can be identified and built it, to maximize the margins from the projects.
- Collaborate with the Finance Head Managers of the Regional O&M BU’s, to get the updates on the respective Project Models on a periodic basis and ensure that Outage Models are aligned with approved budgets.
- Manage the long-term focus model of NMES by consolidating the outage models of all projects and regularly update the model to ensure correct indexation is applied and that the company is getting the value as per their expectations.
Develop Financial Database & Dashboards
- Builds financial database by identifying sources of information; assembling, verifying, and backing up.
- Develop and Monitor Dash boards /performance indicators, highlighting trends and analysing causes of unexpected variance
Strategic Finance Initiatives
- Undertake the analysis for various strategic finance initiatives and follow through on their implementation to ensure the objectives are achieved.
- Support other teams (Corporate Finance) as required and help respond to bank requests for information and data in relation to approving corporate finance facilities for NOMAC and/or its project companies.
- Keep up-to-date with market developments in order to develop an understanding of various finance products and features.
- Seek knowledge transfer from more experienced team members by closely shadowing them to gain technical experience in financing.
Policies, Processes, Systems & Procedures
- Adhere to all relevant organizational and departmental policies, processes, standard operating procedures, and instructions so that work is carried out to the required standard and in a consistent manner.
- Contribute in the identification and implementation of change initiatives, programmes and projects in line with the organization’s standards.
Health, Safety, Security and Environment
- Adhere to all relevant health, safety, security and environmental procedures, instructions and controls so that the safety of employees and environmental compliance can be guaranteed.
- Perform any other duties which the organization may require to be carried out.
- Master’s/Professional (CPA, CMA, CFA)Degree in Finance, Accounting, or Economics from a reputed international or local university, or similar equivalent education
- 9-10 years of experience.
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