Finance Manager

7 hours ago

Jeddah, Saudi Arabia Al-Ghazzawi Group of Companies Full time

Under the general direction of the Group Chief Financial Officer and Group Financial Controller the Finance Manager has to ensure the accuracy and authenticity of all accounting transactions as per the IFRS guidelines, manage various accounting functions such as maintaining the books of accounts, supervising accounting staff; assisting the preparation of the annual budget; in charge of timely closing of accounts for quarterly review as well as annual financial audit as per the deadlines; control on record keeping/documents filing, taking care of Zakat, VAT, Withholding Tax, Customs Duty Drawback computation & and obtaining the certificates, keeping track of intercompany transactions, monitor related party transactions, ensure timely collection from debtors.

Major

**Responsibilities**:
► Obtain and maintain a thorough understanding of the financial reporting and general ledger structure.

► Ensure the accuracy and authenticity of all accounting transactions as per the IFRS guidelines.

► Ensure an accurate and timely monthly, quarterly and year end closing and reporting.

► Provide necessary information and data required by the Auditors (Statutory & Internal)

► Ensure the quarterly reviews and annual auditing as per the management deadlines.

► Proper Accounting, monitoring and reconciliation for Intercompany transactions.

► Monitoring and reporting related party transactions.

► Ensuring timely collection from debtors.

► Recommend for appropriate provisions for bad debts on a consistent basis as per the company policy.

► Controls on records keeping, proper filing and documentation.

► Ensuring appropriate provisions for Zakat & VAT and coordinating for final Certificates from the GAZT.

► Coordinate with consultant for Withholding Tax (WHT) clearance and submitting necessary documents for WHT provisions. Ensuring compliance with WHT rules on monthly and quarterly basis.

► Inventory valuation and ageing analysis.

► Monitoring Fixed Assets Accounting and depreciation computation.

► Proper and timely booking of provisions, accruals and prepaid expenses

► Appropriate and accurate provisions for End of Service benefits.

► Keeping track of important Insurance policies of the company.

► Supports budget and forecasting activities.

► Competent in making 3 to 5 year’s financial projections.

► Must be conversant in making the capital investment evaluations (IRR, NPV Payback period etc.)

► Collaborates with the other department managers to achieve the overall goals and objectives of the company.

► Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy.

► Advises staff regarding the handling of non-routine reporting transactions.

► Ensure that efficient cash flow is achieved in the entity.

► Responds to inquiries from the GCFO, GFC,Treasury Manager and other department managers regarding financial results and special reporting.

► Work with GCFO, GFC, Reporting Manager, Treasury Manager and to ensure clean and timely quarterly review and yearend audit.

► Supervise the general ledger group to ensure all financial reporting deadlines are met.

► Assist in development and implementation of new procedures and features to enhance the workflow of the department.

► Provide training to new and existing staff as needed.

► Handle personnel issues relating to staff conflicts, absenteeism, performance issues.

► Work with each direct report to establish goals and objectives for each year and monitor and advice on the progress to enhance the professional development of staff.

► Prepare the KPIs for all direct reports.

► Additional duties as directed by GFC & GCFO.

► Checking and Verifying all Booking of Payments and Receipts, Journal Entries of AR, AP, Cash and Bank, GL and Each Accounting Activities

► Monitoring and Controlling Chief Accountant and Other Accountants for Perform daily accounting activities such as journal entries.

► Coordinate with finance team to complete assigned accounting tasks within deadlines

► Reviewing all Payments, Collections and make sure properly booked in Oracle

► Provide guidance to Chief Accountant and Other Accountants.

► Calculate Daily pricing and Discounting for Sales Team.

► Monitor and record financial transactions according to company policies and regulations

► Verifying journal vouchers for entry of direct GL transactions (manual, recurring, allocation journals etc.) into the General Ledger. Verifying and Advising to Record all adjusting, closing and reversing entries to attain reconciliation of sub ledgers.

► Approving all POs and Checking Minimum Level and reason for Urgent Purchases.

► Managing Working Capital which including Inventories, AR, AP and Cash

► Ensure posting of sub-ledgers is performed on timely basis and in accordance with month end closing.

► Ensure that all accountin

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