Financial Analyst - Temporary Assignment
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Key skills for this role
About the Role
ENOC is seeking a Financial Analyst for a temporary assignment to manage financial accounting, credit analysis, and payment controls. The role involves overseeing joint ventures, ensuring compliance with accounting standards, and supporting audits.
Key Skills for This Role
Responsibilities
- Manage financial accounting function of all joint ventures and associates, ensuring proper periodical closure of books
- Monitor and control performance of GFS for segment related activities
- Ensure implementation of international financial accounting standards
- Conduct weekly/monthly credit review meetings with Marketing Departments
- Review annual credit limits and evaluate customer credit applications
- Supervise accounts payable section to ensure timely and accurate booking and payment to vendors
- Control and supervise maintenance of books of accounts and review monthly accounts
- Ensure quarterly intercompany reconciliations and follow up on open items
- Monitor working capital requirements and coordinate with Group Treasury
- Plan and oversee interim, hard close, and final statutory audits
Requirements
- Experience in financial accounting, credit control, and payment management
- Knowledge of international financial accounting standards
- Ability to manage joint ventures and associates accounting
- Experience with credit analysis and credit policy compliance
- Strong analytical and problem solving skills
Full Job Posting
Job Purpose
- The job holder plays a key role in providing both operational and functional support by managing and directing the financial accounting in functions such as credit, GL.
Financial Accounting
- Manage the financial accounting function of all joint ventures and associates with responsibility to ensure proper periodical closure of books as per agreed timelines for reporting to management.
- Responsible to monitor and control performance of the GFS for the segment related activities under GFS purview.
- Ensure implementation of international financial accounting standards.
- Responsible to ensure compliance to DOA and credit policy.
Credit Analysis & Credit Control
- Ensure weekly/monthly credit review meetings are conducted with respective Marketing Departments as per guidelines.
- Conduct credit committee meetings of Marketing companies with all concerned and documenting it with formal MoM.
- Review annual credit limit conducted by the team for all existing customers.
- Review and evaluate customer credit application forms for customer account opening.
- Analyze and recommend credit periods, credit terms, allowable credit exposure and securities limits for all new customers.
- Ensure that credit violations are being approved as per the DOA hierarchy.
- Review ECL working and discuss possible changes with external auditors.
- Review write off cases and ensure supporting documents are provided.
- Maintain Credit Smart Dashboard.
- Ensure details of all returned cheques are intimated to concerned departments.
- Coordinate to ensure receipting, remittance and banking of all cash and cheques are done on time.
- Ensure monthly receivables KPI is worked out and communicated with businesses.
Payments Control
- Ensure AGIS, PRs, claims, cheques and payments are allocated to right charge code, captured in the GL on time, and processed to the vendor.
- Supervise the day to day functioning of the account payable section to ensure timely and accurate booking and payment to vendors.
- Ensure necessary approvals are obtained prior proceeding for payment.
Monitoring and Controlling of Monthly Closing for Accounting
- Control and supervise the maintenance of books of accounts and review monthly accounts upon closure as per agreed timelines.
- Coordinate and control the preparation of periodic and year end GL schedules for the accounts.
- Review opex analysis report and detailed explanations on the variances.
- Ensure corrections are done within the same period.
- Ensure interfaces are run and reports are reconciled with GL.
- Ensure compliance with the fast quality close timelines and Flash reporting.
Intercompany Reconciliations
- Make sure quarterly reconciliations for Intercompany accounts are maintained and follow up with respective companies for clearance of open items.
- Make sure of the circulation of all AR Balances and Statement of Accounts to respective staff in the Group Co’s.
Others
- Monitor the working capital requirements of the business units, works with Group Treasury on management of Segment borrowings and foreign exchange requirements.
- Track and monitor the correctness of VAT liability being captured in the system for all AP and AR invoices.
Audit
- Overall responsibility for planning of interim, hard close and final statutory audits of Business Units.
- Overall responsibility in overseeing the conduct of government, external and internal audits and compose responses to observations.
- Coordinate with external auditors on interim, hard close and final audits.
Due Diligence
- Responsible for implementation of Corporate Governance framework specified by Group.
- Ensure business dynamics are reflected appropriately in the framework creation.
- Coordinate with IT for any system development, automation, and implementation in all fields (AR, AP, GL).
Regulatory Submittals & Special Assignments
- Manage the overall submittal timelines and provides guidance and clarification on doubts.
- Assist the Segment Finance Head with ad hoc projects and special assignments.
- Participate in various committees either as member or special invitee.
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