Position Requisition Id Department Closing Date
Job Description

Position Title: Manager – GL and Financial Reporting

 

JOB PURPOSE:

To supervise, manage and monitor the work of GL&FS employees and ensure that they carry out their tasks and responsibilities as per instructions; issue instructions to them as appropriate on financial accounting, maintenance of trial balance, systems and accounts within the limits of internal control procedures and ensuring compliance with all relevant regulatory and legal requirements. In charge of preparation and monitoring the monthly, quarterly and annually financial statements for all the companies including the consolidated financial statements and ensuring compliance with all relevant regulatory and legal requirements.

 
 

KEY ACCOUNTABILITIES:

Supervision of Subordinates

§ Organize and supervise the activities and work of subordinates to ensure that all work/ activity within the section are carried out in an efficient manner which is consistent with operating procedures and policy.

§ Establish appropriate procedures and controls within the department, which ensures that all financial transactions are accurately recorded in the books on a timely basis and are adequately supported.

§ Ensure the presence of adequate internal control procedures for financial accounting and compliance with the established policies and procedures.

§ Ensure that the monthly closing activities are well managed and ensure that it covers the following quality aspects: completeness, accuracy & timely submission of the financial reports.

§ Ensure that all GL entries are done in accordance with the International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and local legal framework.

Financial Accounting (General Ledger) Duties

§ Supervise the execution of standard accounting functions such as the preparation of statements, the posting to and reconciliation of accounts in the various ledgers, ensuring they are compliant with Company procedures.

§ Custodian of the Chart of Accounts of all companies and in all systems.

§ Review all TB for all group companies to ensure that the accounting records reflect the true & fair financial position of the companies.

§ Ensure that all the requirement for IFRS 9, 15 and 16 are developed and complied for.

§ Hedging, MTM and all loan related transactions, templates and entries are done accurately and on time.

Asset Management

§ Ensure that the company’s assets have been properly accounted for in compliance with the International Accounting Standards and used in accordance with management authorization.

§ Ensure that the fixed asset register of the company is well developed, maintained up to date; take periodic measures to ensure that the information contained in the fixed assets register is validated against physical presence of assets.

§ Ensure that regulatory requirements (financial and accounting) and requirements of other agreements are compiled with properly and on a timely basis.

§ Test the company assets for Impairment as required by IAS/IFRS.

Dividend Distribution

§ Calculate the dividend amounts to be declared by the SPCs and Omani Companies.

§ Liaise with lenders/shareholders to Complete all requirements in order to allow OSC to distribute dividends to shareholders of all SPC’s and Omani Companies

§ Liaise with treasury and lenders/shareholders to send the financial statements to comply with the loan covenants.

Financial Accounting Duties and Supervision of Subordinates

§ Ensure the presence of adequate internal control procedures for financial accounting and compliance with the established policies and procedures

§ Supervise the preparation of monthly, Quarterly and annual financial statements for the group companies

§ Ensure that financial statements are prepared in accordance with the International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and local legal framework.

§ Supervise the execution of standard operating procedures are complied with during the preparation of statements.

§ Review all TB for all group companies to ensure that the accounting records reflect the true & fair financial position of the companies.

§ Preparation of the Group Consolidated Financial Statements.

§ Auditing by Internal, External and State Audit

§ Responsible to prepare the up to date financial statements word documents with all the notes and attend all the changes requested by the company external auditor.

§ Ensure along with the Senior Manager - Financial Planning & Reporting that the financial statements of the company are audited smoothly and within the stipulated time.

§ Act as a focal point with the statutory audit and resolve as possible audit related issues.

§ Coordinate and Co-operate with external auditors to ensure they have full access and support throughout the audit process to minimize the likelihood of disruption or unnecessary discrepancies.

§ Coordinate the preparation of Letter of Representation (LOR) and its final submission to the auditors and shareholders.

§ Prepare all the documents required for the Annual General Meeting and assist to ensure smooth AGM are held on time.

§ Policies, Systems, Processes & Procedures

§ Follow all relevant departmental policies, processes, standard operating procedures and instructions so that work is carried out in a controlled and consistent manner.

§ Assist in the development and update of relevant SOPs to financial reporting and monthly closing.

§ Updating of Finance Manual and Procedure to bring them in line with the best industry practice and in accordance with the IFS/IFRS

Continuous Improvement

§ Contribute to the identification of opportunities for continuous improvement of department systems, processes and practices, cost reduction and productivity improvement.

 
 

Minimum Qualifications:

§ Bachelor’s Degree or a Master’s Degree and should be an ACCA or, CMA or CPA accreditation,

 
 

Minimum Experience:

§ Minimum 8-10 years’ experience in a similar role in an accounting function.

 
 

Job-Specific Skills:

§ Leadership

§ Computer (Excel)

§ Presentation

§ Organisational

§ Planning

 
 

COMPETENCIES:

§ Information seeking

§ Initiative

§ Teamwork and cooperation

§ Attention to details

§ Punctual and Multi-tasking

§ Flexible

§ Organizational Commitment

 
 

Frameworks & Authority:

§ Manager – GL and Financial Reporting reports to the Senior Manager - Financial Planning & Reporting and confers with the latter on critical and strategic issues.

§ The jobholder is expected to draw up plans and strategies for accounts operations and ensure their implementation.

§ Key decisions having significant impact on the Manager – GL and Financial Reporting function are referred to the Finance Director or CFO for approval before implementation.

§ The jobholder exercises financial authority as per the level established by OSC’s Manual of Authority

Job Requirements
Minimum Qualification : Bachelor Degree
Experience : You should have Experience of Minimum 8 years to apply for this Job