Job description / Role
The Head of Accounting directs the development and implementation of Accounting policies, systems and procedures for the company.
They manage the financial and project Accounting activities, particularly the GRP and MIS reporting, and analyse financial data to support senior management with financial decision making, whilst ensuring adherence to regulatory requirements.
My client is a very well known and prestigious upstream Oil & Gas organisation, based in the UAE, with operations across the Middle East.
Reporting to the Director of Accounting & Reporting, the Head of Accounting is responsible for;
Accounting Policies, Systems, Processes and Procedures
* Formulates and contributes to the development of Accounting policies, systems, processes and procedures.
* Recommends procedures and work instructions covering specific Accounting/Financial processes in light of overall Finance policy and regulatory requirements to ensure that all activities are carried out in a controlled manner.
* Maintains an on-going awareness of statutory and legal necessities by ensuring that these are communicated to all relevant employees so that the company fulfils its statutory requirements.
* Ensures the conformity of data in order to meet the requirements of external representatives such as regulatory authorities, external auditors and partner company representatives.
* Analyses and evaluates the economic stability of the business by providing essential financial information (e.g. reports highlighting costs, productivity and expenditures).
* Oversees the productions of key financial reports and statements according to defined schedules to ensure the provision of accurate, timely financial information to assist management decision – making.
* Provides guidance and recommendations as required to allow the realisation of cost saving or efficiency enhancing opportunities.
* Reconciles financial data according to stated schedules so that the company remains aware of its financial position on an on-going basis and statutory reports can be produced within internal and legislative time limits.
* Prepares monthly financial projects report including projects balance sheets, profit and loss on any discrepancies, budget control and reconciliations.
* Presents financial data and reports for each project, including projects budget, monthly finance reports, authorisation for expenditure ‘AFE’s’ drafting, financial statements and any other related information.
* Originates joint venture accounting activities including Accounting matters related to budgets, AFE’S billings, cash calls, audits and audit queries in line with the applicable contract.
* Submits routine financial information after necessary approval to the legislative authorities such as – provisional trading statements, quarterly financial statements and royalty payment.
* Recommends effective preventative and detective financial controls and internal compliance processes to ensure financial and receivable activities are conducted in line with Generally Accepted Accounting principles.
Payroll Operational Activity
* Directs the daily payroll operations by ensuring that all payroll transactions and reports are processed and completed according to generally accepted Accounting principles.
External Audit Compliance
* Coordinates completion of internal and annual statutory audits as per agreed schedules so that the company meets its statutory obligations and financial risk is minimised.
* Organises and supervises the activities and work of subordinates to ensure that all work within a specific area of financial management is carried out in a manner consistent with operating procedures and policy.
Reporting and Communication
* Liaises with external bodies and representatives (e.g. regulatory authorities, external auditors, partner company representatives) as required to ensure that any queries are answered in a prompt and efficient manner.
* Maintains and exhibits excellent working relationships with all colleagues.
In return, my client can offer an extremely competitive salary, as well as a strong benefits package, and an opportunity to develop your career with a highly desirable employer.