Hiring For Division Finance Head in Oman

Job Title: DivisionFinance HeadReports to:      Directreporting: Division HeadLine reporting: Cluster Finance HeadFunction: FinanceBusiness Unit - Cluster: Consumer Product Division: Commodity Products Handled: Distribution of Parachute, Al Alali, Amul,Sunwhite, Syrenn Saffron, Rice, Sugar, Flour and Pulses  JobPurpose• To manage financial & sales accounting in theirrespective divisions/group including JV's and new project to ensure propercontrols, policy adherences and periodic reporting's.• Report and drive Financial KPI (including appropriateescalations for major variances) KeyAccountabilitiesDescriptionMIS& ReportingPreparation, Review and submission of periodically financialreports – P/L, Balance sheet along with necessary Annexures and commentary.Timely submission of the required information/reports to theconcerned 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 preparedand submitted to respective HoD & HO/Cluster -Finance.Review General / Sub -ledger before closing books.Review Gross Profit by Agencies / Product categoriesPolicies,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, RecoverableAgeing, Receivable Ageing, etc. to Cluster Finance & HO -Finance.Ensure implementation of Accounting guidelines/policies fromHOEnsure proper accounting & maintenance of General / subLedgerReview of all Suppliers payment and capex proposals beforeforwarding it to HO/Cluster -Finance for payment/approvalProvisions for aged inventory & receivables as percompany's policyManagementand Division's Team structureManage the effective achievement of the divisions objectivesthrough the leadership of the subordinates– setting individual objectives,managing performance, developing and motivating staff, provision of formal andinformal feedback and appraisal – in order to maximise subordinate and theperformance of the divisionRecommend an optimum team structure for the division'sfinancial accounting and outsource routine tasks to India team.WorkingCapital ManagementManaging effective utilization of working capital deployedin 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 adequatelyprovided as per HO guidelines.Reconciliation of Customer account, Vendor Account,Principal's Recoverable account, Bank account periodically and highlight anyexceptions.RoutineOperationsReview and recommendation on receivables to HO -CCC in thefollowing cases;o Sales order release request when there is overdue indays/amount Review of credit limit of customer. Review of PDC details in the system & PDC to be depositedon due date. Raise legal recovery claims for overdue above 1 yearReview of all the purchases above threshold limit beforerelease of purchase orders to the suppliers.Ensure all promotions, display and other A&P spends arecaptured in system as per company guidelines. Escalate any exceptions.Ensure Timely capturing of all transaction in booksInternal Audit complianceReview of past Internal Audit Reports and report theprogress made on areas highlighted for improvements by Audit.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 withHO/Cluster -Finance & HO Legal.VAT & other tax compliances as per lawCoordinate for secretarial requirements related to JV'sBudgets& PlanPrepare and monitor financial performance versus the budgetso that the business is aware of anticipated costs/revenues, and areas ofunsatisfactory performance are identified, rectified promptly and potentialperformance improvement opportunities are capitalized uponNewBusiness InitiativesReview & active evaluation of new business opportunitieseg. Exports, Agencies, Projects, etc. with concerned HoDs before forwarding itto 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 -Financein addition to the areas specified herein -above KeyResults AreasMonth -end closing on time (including review)MIS reports submitted to HoD on timeMonthly Report on key control areas along with variancereport to be submitted to HO/Cluster -Finance by 15th of subsequent month.Compliance with procedural and legislative requirementsEffective communication of policies and procedures andperiodic training to the teamTimely reporting of exceptionsAccounting records are well maintained and updateIndividual objectives, training and development plans inplace 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Monitor Debtor's KPI (days, provisioning, ageing) vs. LY andBudgetInventory days are monitored vs. LY and BudgetRecoverable ageing should be aligned with the terms withPrincipalInterest cost as per the planDay -to -day operations are consistent with establishedpolicies, processes and proceduresAll balances are reconciled and reviewed. Exceptions arehighlighted.Timely responseCorrective actionsMinimize audit queriesTimely compliancesAvoidance of penalty and extra taxAll reports are prepared timely and accurately and meetcompany policies and requirementsSupport business head on business analysis Communications& Working RelationshipsInternalCommunication:Logistics, DemandPlanning, HR, Sales & Marketing, Internal Audit, IT, Legal ExternalCommunication:Banks, Auditors, Customers, Vendors / Principals, Tax office,JV partners IndustryExperience: FMCG product mandatoryITExperience: SAP mandatorySalaryRange:OMR 1500 – 1700/ - per month based on experience (familystatus will be provided)Requirements Technical•Good knowledge of sales and goods / services accounting•Analysis of Trial balance and stock / customer / Salesman /vendor accounts / balance sheet•Sound commercial knowledge•Accounting knowledge to manage local GAAP & Tax laws BusinessCompetencies•Knowledge of own role & responsibilities•Awareness of group's / divisions business driversCoreCompetencies•Execution for results•Dynamic team building for success•Problem solving for powerful solutions•Leading for success•Structured decision making•Customer focus•KR's Ethics & ValuesFunctionalCompetenciesBehavioral•Hands On and eye for details•Ability to manage team with proper delegation and controls•Acceptable level on communication skill•Able to stand up to control requirements•Good coordinator•Systems and process oriented•Analytical skillsQualification& Experience :Graduate or Post Graduate, MBA with minimum  years' experience out of which atleast 2 years' experience in managerial position leading a team of 4 to 7 team members