Executive-Finance

IFFCO • United Arab Emirates • 3d ago

Job Summary

To record and carry out all finance transactions with the requisite controls and maintain books of accounts to prepare financial statements.

Roles & Responsibilities

Process and book vessel-related invoices by coordinating with operations and shared service center (SSC), ensuring correct coding and supporting documentation; Coordinate with SSC AR for timely generation of sales invoices based on vessel Disbursement Accounts (DA) and share details with operations; Track vessel-related fund movements, prepare detailed narrations for accounting entries, and coordinate with SSC for posting and status updates.
Coordinate with SSC AP and cash management team for supplier payments (advance/final) and LC processing for fixed assets; Liaise with operations and GL team for asset capitalization, ensuring correct asset-wise value and classification; Maintain and reconcile the fixed asset register with operational records, ensuring periodic updates (e.g., vehicle registrations)
Prepare and submit monthly accruals and provisions (recurring and non-recurring) to SSC; Review trial balance during month-end/flash reporting and pass necessary adjustment entries; Prepare working capital schedules, including receivables, payables, and provisions; Process intercompany cost recoveries (e.g., vehicle R&M, diesel, driver costs, fines) through AGIS, ensuring proper documentation and follow-up for entries; Review and validate prepaid and provision entries processed by GBS/SSC before final posting
Compute monthly cost recovery from business units based on employee usage of employee transportation service and budgeted rates and raise accounting entries, accordingly; Prepare and circulate annual budgeted cost per seat for bus services; Perform half-yearly actual costing and analyze under/over recovery; Coordinate with operations for PO, MRR, and invoice booking and support contract renewals with relevant stakeholders
Prepare customer aging reports and statements of account (SOA) and follow up with customers and internal teams for collections; Coordinate with customers, KSA office, and internal teams to ensure timely recovery of outstanding balances; Inform SSC AR of receipts (cash/cheque) and ensure proper allocation against invoices; Process invoice corrections through debit/credit notes and ensure proper accounting entries
Prepare and file monthly VAT returns for assigned entities within statutory deadlines.
Create and update customer and supplier master data in ERP systems (Oracle/OTM) based on approved requests.
Create charge codes, map accounting distributions, and resolve AP interface issues in coordination with IT/IS teams.
Follow up with SSC for supplierpayments, including urgent and priority transactions, and resolve vendor queries; Prepare payables list and identify priority disbursements based on fund availability.
Review and approve purchase requisitions (PRs) and validate supporting documentation.
Perform intercompany reconciliations and ensure timely booking of cross-charges and allocations.
Handle KSA-related cost booking and quarterly allocation of overheads across business units.
Coordinate with insurance team for policy renewals and provide required documentation; Handle CRI-related activities, including turnover declarations, new applications, and monitoring.
Raise invoices for recovery of accident-related claims and follow through until settlement.
Provide inputs for cash flow forecasting and assist in prioritizing payments.
Address queries from drivers and internal teams related to payments, deductions, and settlements based on financial records.
Coordinate with multiple departments (Operations, SSC, AR/AP, GL, Insurance, etc.) to ensure smooth financial operations.
Conduct periodic stock checks and monthly cash verification to ensure adherence to internal controls.
Review and approve operational invoices (e.g., driver settlements, transport-related bills) within delegated authority.

KPIs

Avoid delays in closing the books of accounts monthly.
Keeping the accounts up to date along with intercompany reconciliation.
Avoid delays in surrendering the expired bank guarantees, performance and letters of credit to release the blocked funds
Planned voucher processing time including supplier’s payments
Planned vs actual time to make financial data and statements made available to the users
Planned vs actual time to finalize the books of accounts and obtain audit certification
Avoid bad debts due to inaction of accounting staff
Accuracy index of accounting (can be generated by way of total errors in primary functions such as data entry, payroll processing, accounting codifications etc.,)
Average time taken to collect accounts receivables.
Avoid incidents and seriousness of cash shortage to meet operational requirements