Industry: Automobiles
Total Positions: 1
Job Type: Full Time/Permanent
Gender: No Preference
Salary: 9000USD - 10400USD (Monthly)
Education: Chartered Accountant
Experience: 20-20 Years
Location: Masqat, Oman
Skills: Budgetting, Costing, Implementing Systems andStrategies, Improving Profitability
Posted Date: 05-10-2023
Description:
1. Ensure availability of funds at the lowest possible cost
2. Advice the Organization on matters regarding finances including proper
application of funds
3. Take responsibility (either directly or via staff) for all cash management,
investments, insurance, budgeting, and financial reporting, and help drive the
company’s financial strategy and hiring needs.
4. Safeguard the assets of the company by ensuring appropriate internal controls at
all levels
5. Ensure compliance of all statutory requirements pertaining to the Organization
including accounting of all financial transactions.
6. Control credit and recoveries.
7. Spearhead IT initiatives in the Organization.
8. To enunciate and put in place sound administration policies, procedures and
systems and ensure compliance and implementation thereof.
9. Assisting the Chief Executive Officer (CEO) to develop financial plans.
10. To guide the organization as an Organization in instituting sound HR practices (Good
Human Resources Management Practices).
Major Roles:
1. As member of senior management, CFO shall assist the CEO and the Board
Members in:
(a) providing strategic direction to the institution through strategy formulation,
decision making, forecast/budgeting and its implementation/monitoring
(b) establishing and implementing internal controls and ensuring efficient and
effective financial operations as per industry benchmarks. Act as a custodian of
all company documents and assets.
2. Validate all financial transactions for its genuineness and proper application
3. Sound management on wasteful practices, improper use of financial resources
including overshooting of budgets
4. Guide management in the proper use of financial resources
5. Streamline credit processes to ensure recoveries of money due.
6. Sound management on the status of businesses and generate MIS.
7. Spearhead computerization efforts in the organization. Support in dissemination
of information across organization wherever necessary for smooth operations.
8. On a continuous basis audit functioning of administration policies, procedures and
systems and ensure compliance
9. Define and put in place all Organizational HR related processes including
defining of the policies, procedures, systems, structure and standard operating
procedures.
10. Ensure that Financial and Accounting policies & procedures are in accordance
with statutory regulations and global standards and complying with risk
management and internal controls.
11. Initiate performance assurance mechanisms in the Company.
12. Provide effective supervision to the Administration function and ensure its
effectiveness.
13. Prepare financial projections and budgets in line with business plan and get these
approved from senior management and the Board members.
14. Co-ordinate with stakeholders for arrangement and management of funds
(including Grants).
Major Responsibilities:
1. Prepare financial projections and budgets in line with business plan and get these approved from senior management and the Board within the timeframe.
2. Prepare monthly accounts with comparison to budgets and variances as per agreed timeframe.
3. Take charge of Finance, Accounts, Credit and Taxation matters. Ensure that all accounting records are properly and timely maintained, reporting cycles and other
associated engagements are successfully performed in an effective and timely
manner in accordance with the regulatory and organizational requirements.
4. Monitor Foreign Currency and act as per agreed guidelines.
5. Prepare and get the annual accounts audited as per agreed schedule with the
Auditors
6. Monitor working capital and manage cash flows
7. Negotiate with banks and other financial institutions improved terms with regard
to interest, bank and or other charges
8. On a continuous basis audit, the managerial processes for understanding wasteful
and unsound practices and take corrective actions
9. Establish and ensure compliance of Schedule of Authorities.
10. Establish systems & procedures to monitor credit and recoveries.
11. Design and implement performance assurance mechanisms and ensure
compliance in the Organization.
12. Employee cost optimization
13. Ensure compliance of all matters relating to insurance, licenses, government
orders and sanctions and renewals thereof.
14. Finalize annual financial statements/ periodic financial statements (where
required), get them audited from External Auditors and place them before Board
for consideration and approval.
15. On a continuous basis audit, the administration overhead expenses and check for
wastages and non- value-added expenses for cost reduction.
16. On a continuous basis review administration practices and course correct
wherever necessary.
17. Assist in implementing performance Management system to recognize and reward
good performance and promote a culture of accountability and merit.
18. Develop and administer the following activities:
• Financial reports both internal and external
• Financial policies, procedures and systems
• Reimbursement strategies, reports and appeals
• Budgeting systems for both operating and capital budgets
• Tax & VAT system.
• Financial analysis of new programs, acquisitions and business development.
• Disbursements (payroll and accounts payable) processing