JJob SummaryTo protect the interest of the Shareholders and become one point of contact to advise on the financial status, risks of the company from a trusted source and to direct organizational\' s financial planning and accounting practices as well as relationships with lending institutions, shareholders and the finance team.Job ResponsibilitiesEssential Duties, Responsibilities and Accountabilities

• Financial Accounting:
• Fixed assets and capital work in progress:
• Ensure that fixed asset database is maintained with all required details regularly reconciled to physical assets inventory and general ledger
• Maintain control over on-going capital expenditure and prepare a monthly report.
• Responsible for the insurance portfolio of the Company to ensure that all assets and risks are adequately insured.
• Proper inventory on assets allocations and assets transfers, with the establishment of strong controlling procedures on such activities.
• Accounts receivable:
• Monitor Working Capital requirements and the utilization of operational and maintenance stocks.
• Ensure proper control and valuation of raw materials and finished products.
• Proper control over all contracts (purchases) for the direct and indirect raw materials and products.
• Maintain database of all debtors (trade and sundry) with relevant details to be used by finance, logistical and marketing staff.
• Follow up on receivables through daily reporting, especially on overdue amounts, subject to guidelines by the General Managers and / or the Shareholders of the company.
• Administer the goods Export and ensure proper tax benefits are recovered on time (if any).
• Manage all tax and custom examinations and finalizations (for all of taxes, levies and duties).
• Ensure that all banks reconciliations are prepared / reviewed / cleared on a daily basis.
• Accurately report cash flow statements (along with projected cash flow for three future months at least) in coordination with the GMs.
• Maintain good / sound business relationships with Banks and proper administration of the credit lines and bank facilities. To secure continuous timely funds and make sure that banks are charging the company a reasonable commission rates.
• Control and manage banks funds efficiently; and provide periodical reporting for the same.
• Continuously work on reducing the overall cost of funds and good working capital management.
• Foreign currency reporting must be done on a fixed timely basis along with explanation of tools to manage the risk.
• Timely follow up and control over received / issued Letters of Guarantee and Letters of Credit
• Ensure proper control over outstanding crediting customers, and credit rates with regards t repayments and collection.
• Accounts payable
• Ensure control over outstanding crediting, and crediting rates regarding to repayments and interest payments.
• Ensure correct calculation, reconciliation and disclosure of deferred tax assets and liabilities.
• Ensure proper control over suppliers and proper utilisation of suppliers\' credit levels.
• Ensure control over cheques issuance and not to issue a financially none covered cheques.
• Ensure proper control over petty-cash expenditures.
• Ensure establishing strong policies and procedures to control all procurement transactions.
• Establishes efficient procedures for processing timely records of payroll, compiling payroll statistics, maintaining payroll records, and transferring payrolls to the bank.
• Cost Accounting:
• Design, implement and manage a costing system that facilitates the preparation of a zero budget, based on identified cost drivers.
• Ensure budget is managed by the lowest level of management.
• Ensure regular revision of the budget and estimates are done and reported to management and shareholders, to avoid budget exhaustion.
• Ensures the completion of all budgetary policies, procedures and processes, and all budgeting activities and reports takes place on a timely basis every year through the ERP System.
• Production cost accounting services.
• Regulatory Issues:
• Displaying wide knowledge of financial knowledge to provide sound financial advice to the Managing Directors, GMs and other senior management colleagues for stronger decision making base.
• Provides effective financial management advice in the case of deployment of funds for charitable causes.
• Ensures the best establishment of all financial principles, systems, policies, procedures and practices to provide the management with accurate financial reports and forecasts to the reflect business current performance and future growth business plans as well.
• Continuously follows market indices (Equity / bourses / commodities) and recommends portfolio placements to the Top Management to manage foreseeable risks of Business.
• Monitors risk exposure of investments and recommends disinvestments where warranted.
• Ensures that approved investments / expansion plans are implemented effectively, on time, within very clear and approved budgets.
• Manage the financial and inventory audits for the Business on regulatory and annual basis.
• Closely work with the Legal Department on all litigations and un-asserted claims. Report to the management claims and litigation on monthly basis (as part of the monthly management booklet).
• Ensure that all business licenses and permits are renewed on timely manner and with high coordination with the Legal Advisor and Admin Department.
• Ensure that each business agreement is supported by signed contract and / or approved purchase order and offer.
• Ensure proper filing for all signed contracts; preferably in the ERP.
• Organizational Relations
• High coordination with all business GMs on all financial issues (e.g.: financial results, financial data analysis, cash flows etc.).
• Full responsibility on all external Auditing reports and making fast and strong action plans to rectify all findings.
• Ensures that reports from external auditors have been verified, carefully explained and reviewed by ToP Management and Shareholders
• Full responsibility on all results comes out of internal Auditing Department and takes fast and strong corrective acting to adjust all findings, to be able to leverage the performance of the finance department into the best practice international standards.
• General Financial Management
• Continuously reviews financial information detailing assets, liabilities, and capital, and directs the preparation of balance . sheet, profit and loss statement, and other reports to summarize current and projected financial position of the Companies / individual business.
• Ensure the proper scrutinizes operational and other management reports and prepares high-level (financial) management analysis for corporate decision-making.
• Directs the budget preparation and review cycles efficiently by ensuring the timely and accurate compilation of the annual business unit budget, semi-annual forecasts, monthly mid-quarter updates, and quarterly close process and long term budgetary plan.
• Provides reasoned recommendations on capital and operating budgets for the company.
• Guides managers in all financial issues involving efficient planning, co-ordination, adherence to financial targets / work schedules etc.
• Creates and maintains financial analyses reporting prompt and accurate to enable effective decision making by Shareholders, Executive Management and the GMs.
• Performs special projects and ad-hoc financial modelling as requested by the Shareholders, the Executive Management and the GMs.
• ERP System and Controls:
• Take a leading role in developing, testing and using the ERP system. Work closely with the implementation team until it is fully operational. Ensure that the system is fully integrated and interfaced with other parts of the company (commercial, production, inventory, cash flow management, fixed assets, HR and others).
• Ensure that all control considerations are built-in the ERP system (such as - but not limited to - segregation of compatible duties and invoice matching mechanism, banks reconciliations etc.)
• Prepare and implement a financial authorisation matrix to ensure that all financial transactions, in all operational areas are strongly controlled and properly approved.
• Ensure that ERP budgeting system is properly presented to the shareholders and progress report takes place always.
• On a monthly basis (comparing actual cost/time to budget). Suggest system enhancements and provide better controls always.
• Lead the organization and achieve staff results by recruiting, selecting, orienting, training, communicating values, strategies, objectives, job expectation and sharing job descriptions, delegating duties and responsibilities, assigning accountabilities, planning, monitoring, and appraising job results (performance management), coaching, counseling, motivating, developing incentives, developing a climate for offering information and opinions, providing educational opportunities and disciplining employees as well as initiating, coordinating, and enforcing systems, policies, and procedures.
• Maintain a safe and clean work environment by educating and directing staff on the use of all control points, equipment, and resources and maintaining compliance with established policies and procedures.
• Maintain professional and technical knowledge by including but not limited to attending educational workshops, reviewing professional publications, establishing personal networks, benchmarking state-of-the-art practices and participating in professional societies in person or virtually. Share new manufacturing techniques and developments in the manufacturing technology with the management team and reviews usage to bring about increased efficiencies.
• Leadership: Ability to get the Department to efficiently accomplish their responsibilities. Lead the learning and development of his/her team to leverage their capabilities and improve the work quality. Set goals for his/her functional area; and guide the team to see the value in their jobs to achieve these goals.
• Management: Oversee and lead the operations of his/her Team. The manager must ensure that the requirements of his department are met as per the priority of matters set by the Manager. Conduct professional interviews and select the best-fit talents to fill in vacant positions within the department. Manage the performance process of the team, give timely and constructive feedback to them on their performance issues and guide the team to work and improve their areas of development.
• Delegation: Ability to delegate the department's workload effectively and monitor its progress towards completion. Know what each of the team members is capable of; and give them work that they can complete effectively while also challenging and encouraging them to achieve more.

Al Khaleej Sugar