Job description

JOB PURPOSE:

Lead and control all activities related to areas of Management Accounts, Accounts Payable, Accounts Receivable, Fixed Assets, General Leader, CCB systems and Payroll for all financial activities and day to day operations. Control all activities related to organizational performance and reporting to ensure timely deliverable of various reports, which will enable ADNOC City Gas senior management and stakeholders’ decision-making.

Directs the ongoing effectiveness and efficiency of the Accounts Receivables, including bank & collections, in order to support the business in the commercial environment.  Ensure the capturing of all financial information timely in compliance of company policies and procedures. To support the management and internal stakeholders for day-to-day business and dealing with external stakeholders on business matters. Assisting the CFO for strategy development, funding, investment decisions and developing business plans.

Supporting the internal stakeholders and executing any special task assigned by Management. Ensure that AGDC financial activities are conducted in accordance with ADNOC best practice.

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

Support to the Line Manager & Senior Management

• Support Line Manager and Senior Management in developing short and long term business plans and strategies with the objective of establishing growth of company and its profitability.
• Support Line Manager and Corporate finance head group for data analysis and reporting requirement.
• Coordinate with concerned stakeholders and assist CFO/Finance Manager for implementing the accounting policies.

Management Accounts

• Monitoring of Annual Plans/Strategy, Performance indicators. Monitor actual performance against Operating Plan & Budget by analysing data, obtain justification, assess financial impact of change, recommend corrective actions for necessary rectification and maximize performance.
• Contribute in timely updating/reviewing ADNOC City Gas Contract and closely monitor financial KPI’s proposing recovery plans for any slippage. Contribute to the management of financial risks by keeping management abreast of any findings or variances related to financial performance.
• Review monthly financial performance presentation to Executive Team along with proper major variances justification.
• Compilation, review and submission to ADNOC City Gas senior management 5 years Business Plan for approval. Coordinating with ADNOC HQ for its submission. 
• Provide internal/external audit with required financial documents. Provide financial consultation to management and other stakeholders as and when required. Participate in budget preparation activities as and when required. 

Accounts Receivable

• Ensures the accuracy of the accounts receivables listings to make timely collections and payments. Develop and implements a payment, credit and collections policy which is designed to ensure timely collections and control over receivables.
• Directs the development and oversee the implementation of operational policies, procedures and controls covering all areas of Accounts Receivables activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service to financial function across the Group.
• Ensures the maintenance of all accounting and financial records, including the proper safekeeping of invoices and payments in/out. Ensures proper review and verification of requests for reimbursement of imprest funds and maintenance and control of the accounts receivables systems.
• Coordinates with Government, External and Internal Auditors regarding their observations on the internal controls and other related matters over the department activities.
• Participates on the development and implementation of new projects that will have an impact on the accounts.
• Directs all related activities to the monthly/yearly closing related to the department.

Accounts Payable

• Recommend modification with a view to improving suppliers accounting, reporting, accounts payable system, policies and procedures.
• Ensure the preparation of monthly reconciliation and interfaces with general ledger and the corresponding contractors, consultants and suppliers.
• Ensure the maintenance of accounting and all financial records, including proper safekeeping of various bank guarantees, cash calls and operating agreements, leases, etc.
• Ensure the preparation of necessary bank transfers/other payment documents, including verification of the validity and accuracy of the payments.
• Control the review of bank guarantees liquidated damages, retention and advances recovery.
• Approve the calculation of accruals at the close of each accounting period and ensure the execution of necessary accounting entries.
• Ensure maintenance of control of the accounts payable, payroll and employee ledger systems.
• Coordinate with Government, external and internal auditors with regards to their observations on the internal controls and other related matters over the department activities.
• Devise work methods according to company's objectives, policies and specialised accounting procedures and standards.
• Liaise with Corporate Services Manager regarding employees' actions, programs and payments to and on behalf of employees.
• Liaise with suppliers, consultants and contractors regarding their invoices, credit notes and payment queries.
• Liaise with external/ internal auditors relative to review of suppliers and employees cost and records.

General Ledger & Consolidation

• Control all activities of General Ledger including the preparation and issuance of periodic trial balances and related financial statements in line with company financial policy and procedures and international Financial Reporting Standards.
• Supervise the periodic reconciliations for all Control Accounts, covering Accounts Receivable, Accounts Payable, Payroll, Employee Ledger, Billing Systems and inventory including goods-in-transit.
• Review and Endorse month/year-end closing programmes in line with ADNOC guidelines ensuring deadlines are met as per the schedule.
• Ensure the preparation of all necessary schedules to the Financial Statements and external auditor requirements. Evaluate and challenge claims, contingent liabilities and provisions in order to be accurately disclosed in Financial Statements notes.
• Review inventory provision calculation and approve related Journal Vouchers. Review the stock certificate letter and ensure the relevant authority approves it.
• Review required Financial Statement data to ERP system quarterly. Review and endorse requests to create control account segment including related hierarchy.
• Ensure providing required financial information to Internal, External and Government auditors, review draft report and develop action plans to implement recommendations. 

Fixed Assets

• Supervise and monitor all Fixed Assets related activities to ensure proper accounting of additions, disposals, transfers, write offs and depreciation in line with corporate accounting policies and procedures. Provide reports as appropriate to enable informed decision making.
• Reviews & monitors accrual entries pertaining to capital expenditure on a yearly basis and ensure that they are reconciling with the general ledger accounting.
• Endorses reconciliation process of fixed asset verification and abandonment cost.
• Endorses Asset Retirement/Transfer requests and obtain management approval as per DOA.
• Reviews and endorses write-offs & Financial Discrepancy Report requests to ensure conformity of the mentioned information with the data in Fixed Asset Register and obtain management approval as per DOA.
• Ensures depreciation has been carried out as per ADNOC Policies & Procedures on a monthly/yearly basis prior to initiating execution of depreciation to General Ledger.
• Ensures standard and ad-hoc reports are prepared based on requests from ADNOC and shareholders including consolidated Fixed Assets and Depreciation for Shareholders.

Forecasts, Budget, Funds, Treasury, Taxation, VAT & Reporting

• Initiate the Forecast and Budget Revision to identify and advice management of any changes that are significant to warrant amendment to the approved Annual Operating Plan & Budget.
• Lead the Annual Operating Plan & Budget as aligned with the Company Business Plan, including guidelines, instructions, format and presentations to Management and Shareholders.
• Managing the requirements of AD HQ finance and required reporting for AGDC.
• Ensure all required Financial reports including billing statements, supplement to the financial statement, other mandatory reports are submitted to Shareholders as per the deadlines.
• Review and participate user acceptance test for financial system enhancement. Identify and review existing Processes and Procedures to identify required control, analyse user requests and recommend enhancement.
• Manage the handling of Tax related activities along with coordination of AD HQ TAX team. Timely submission of VAT related reconciliations to ADNOC HQ Tax team.
• Managing the update of collection and disbursements of funds for company business.