Vice President – Accounting & StatutoryReporting

Role Purpose

To lead and supervise the Financial Accounts section at EMARAT, ensuring the accuracy, integrity, and compliance of financial records in line with International Accounting Standards and corporate policies. This role also contributes to strategic financial planning, supports the implementation of improved accounting systems, and ensures financial reporting and control processes align with best practices in the Oil & Gas industry.

Key Responsibilities

Strategic and Operational Oversight

• Contribute to the development and execution of the Finance & Accounts Department’s goals and strategic initiatives.
• Ensure all financial activities and business processes under this role are executed in compliance with EMARAT’s policies, procedures, and industry best practices.
• Identify and recommend enhancements to existing policies, procedures, and internal controls.

Financial Reporting and Analysis

• Oversee the preparation of accurate, timely, and comprehensive financial reports in accordance with regulatory and internal requirements.
• Analyze financial statements, cost control measures, and expense reports in collaboration with department managers and joint venture partners to optimize resource utilization.
• Ensure the financial prudence of operational decisions and approve expenditures within delegated authority.

Accounting Control and Supervision

• Supervise activities related to account reconciliation, general and retail accounting, inventory management, and payroll.
• Ensure accuracy in payroll processing and reconciliation, including validation of all payroll documentation.
• Monitor and approve financial transactions related to supplier payments, retail proceeds, and station cash handling.

Audit and Compliance

• Act as liaison with external and government auditors during interim and year-end audits.
• Review and ensure all accounting and operational activities are in compliance with international accounting standards and corporate governance policies.
• Oversee compliance in banking transactions, including cheque approvals and fund transfers.

Inventory and Procurement Coordination

• Coordinate with purchasing and terminal teams to ensure proper inventory documentation and timely settlement of purchase contracts.
• Oversee oil and materials inventory accounting, ensuring transactional integrity and accurate reporting.

System Implementation and Process Improvement

• Collaborate with IT to implement and enhance accounting systems, including General Ledger, Payroll, and Inventory systems.
• Continuously assess the effectiveness of accounting procedures and recommend automation and process improvements aligned with global best practices.

Leadership and People Management

• Lead, coach, and develop a high-performing financial accounts team.
• Set clear objectives, assign responsibilities, and monitor performance aligned with EMARAT’s performance management framework.
• Foster a culture of continuous improvement, innovation, and cross-functional collaboration.

External Representation

• Maintain effective relationships with external partners, auditors, and regulatory bodies.
• Represent EMARAT professionally in financial matters with external stakeholders.

Qualifications

Education

• Bachelor’s Degree in Finance or Accounting (mandatory)
• Certified Public Accountant (CPA) or equivalent professional certification (preferred)

Experience

• Minimum 8 years of experience in financial or accounting roles, with at least 3 years in a managerial capacity.
• Prior experience in the Oil & Gas industry is strongly preferred.

Knowledge & Skills

• Deep understanding of financial accounting principles, regulatory frameworks, and corporate financial policies.
• Strong analytical and leadership skills, with a focus on accuracy, compliance, and strategic alignment.
• Proficiency in ERP/accounting systems and advanced knowledge of Microsoft Office applications.
• Excellent communication, business acumen, and stakeholder management capabilities.

Competencies

• Strategic Thinking
• Leadership & Team Development
• Financial Reporting & Analysis
• Compliance & Risk Management
• Effective Communication
• Business & Financial Acumen