Division Finance Accountant

Job Description : DIVISION FINANCE ACCOUNTANT OMAN 12+ years experience FMCG accounting knowledge for distribution is preferred. SAP knowledge is mandatory. Education: M.Com. / ACCA / MBA (Finance) /CA is not absolutely mandatory Description MIS & Reporting Preparation, Review and submission of periodically financial reports P/L, Balance sheet along with necessary Annexures and commentary. Timely submission of the required information/reports to the concerned HoDs to meet with their operational requirements. Highlighting major variance (i.e.>5%) between Actuals vs. previous year / Budget of Profit & Loss and Balance Sheet items to be prepared and submitted to respective HoD & HO/Cluster-Finance. Review General / Sub-ledger before closing books. Review Gross Profit by Agencies / Product categories Month-end closing on time (including review) MIS reports submitted to HoD on time Monthly Report on key control areas along with variance report to be submitted to HO/Cluster-Finance by 15th of subsequent month. Policies, Systems, Processes & Procedures Review and report the exceptional items like Legal & corporate non-compliance, slow & non-moving inventory, abnormal expiry, damaged & stock differences/shortages, thefts, cash shortages, Recoverable Ageing, Receivable Ageing, etc. to Cluster Finance & HO-Finance. Ensure implementation of Accounting guidelines/policies from HO Ensure proper accounting & maintenance of General / sub Ledger Review of all Suppliers payment and capex proposals before forwarding it to HO/Cluster-Finance for payment/approval Provisions for aged inventory & receivables as per companys policy Compliance with procedural and legislative requirements Effective communication of policies and procedures and periodic training to the team Timely reporting of exceptions Accounting records are well maintained and update Management and Divisions Team structure Manage the effective achievement of the divisions objectives through the leadership of the subordinates setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal in order to maximise subordinate and the performance of the division Recommend an optimum team structure for the division’s financial accounting and outsource routine tasks to India team. Individual objectives, training and development plans in place for all direct reports Periodic training are imparted to the team Routine tasks are outsourced to India Efficiency of the division and delivery of outputs Working Capital Management Managing effective utilization of working capital deployed in the Division Review of borrowing from Head office / banks Facilitate external borrowings for the JV company’s Ensuring timely deposit of Customer Collections Inventory and Receivables are reviewed and adequately provided as per HO guidelines. Reconciliation of Customer account, Vendor Account, Principal’s Recoverable account, Bank account periodically and highlight any exceptions. Monitor Debtor’s KPI (days, provisioning, ageing) vs. LY and Budget Inventory days are monitored vs. LY and Budget Recoverable ageing should be aligned with the terms with Principal Interest cost as per the plan Routine Operations Review and recommendation on receivables to HO-CCC in the following cases; Sales order release request when there is overdue in days/amount Review of credit limit of customer. Review of PDC details in the system & PDC to be deposited on due date. Raise legal recovery claims for overdue above 1 year Review of all the purchases above threshold limit before release of purchase orders to the suppliers. Ensure all promotions, display and other A&P spends are captured in system as per company guidelines. Escalate any exceptions. Ensure Timely capturing of all transaction in books Day-to-day operations are consistent with established policies, processes and procedures All balances are reconciled and reviewed. Exceptions are highlighted. Internal Audit compliance Timely response Corrective actions Minimize audit queries Tax & legal Management Prepares tax returns as per law within timelines & coordinates with Auditors for annual financial closing Review of commercial/legal documents eg. Agency Agreements, Contracts, Sub-contracts, Rental contracts etc. and liaise with HO/Cluster-Finance & HO Legal. VAT & other tax compliances as per law Coordinate for secretarial requirements related to JV’s Timely compliances Avoidance of penalty and extra tax Budgets & Plan Prepare and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, and areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalized upon All reports are prepared timely and accurately and meet company policies and requirements New Business Initiatives Review & active evaluation of new business opportunities eg. Exports, Agencies, Projects, etc. with concerned HoDs before forwarding it to Cluster finance head / HO-Finance for approval. Implementation of new initiatives related to Finance & IT. Any other areas to be assigned by Cluster CEO and HO-Finance in addition to the areas specified herein-above Support business head on business analysis COMMUNICATIONS & WORKING RELATIONSHIPS Internal Communication: Logistics, Demand Planning, HR, Sales & Marketing, Internal Audit, IT, Legal External Communication: Banks, Auditors, Customers, Vendors / Principals, Tax office, JV partners Qualification & Experience Qualification: Graduate or Post Graduate, MBA [Education: M.Com. / ACCA / MBA (Finance) / CA is not absolutely mandatory Industry Experience: FMCG product mandatory IT Experience: SAP mandatory Salary Range: Products Handled Distribution of Parachute, Al Alali, Amul, Sunwhite, Syrenn Saffron, Rice, Sugar, Flour and Pulses

---