Financial Control and Reporting Specialist

Crescent Petroleum; Sharjah; On-site; AED 120,000 - 180,000; Full time

Job summary

An established industry player is on the lookout for a meticulous Financial Control and Reporting Specialist to join their dynamic accounting team. This pivotal role involves overseeing financial control processes, ensuring the accuracy of financial records, and leading the book-closing activities. The ideal candidate will have a robust background in financial reporting within the Oil and Gas sector, complemented by a deep understanding of accounting principles and compliance regulations. Join a forward-thinking company that values precision and integrity in financial management, where your expertise will contribute significantly to their success and operational excellence.

Qualifications

• 6-8 years experience in financial control and reporting, preferably in Oil and Gas.
• Strong knowledge of accounting principles and regulatory compliance.

Responsibilities

• Oversee financial control processes and ensure accuracy of financial data.
• Lead month-end and year-end closing processes, ensuring compliance with standards.

Skills

Financial Control

Financial Reporting

Analytical Skills

Organizational Skills

Communication Skills

Education

Degree in Accounting

Professional Accounting Qualification (CA/ACCA)

IFRS Proficiency

Tools

SAP

MS Office

Power BI

Job description

Major Functions

We are seeking a detail-oriented and experienced Financial Control and Reporting Specialist to join our accounting and reporting team. This role is crucial for ensuring the integrity of our financial records, overseeing the book-closing process, and delivering accurate and timely financial reports. The ideal candidate will have a strong background in financial control, reporting within the Oil and Gas industry, and a deep understanding of accounting principles and regulatory compliance.

Key Responsibilities

1. Financial Control:
   • Oversee and manage the financial control processes to ensure accuracy, completeness, and timeliness of financial data.
   • Develop and enforce internal controls and accounting policies to safeguard company assets and ensure compliance with relevant regulations.
   • Perform regular reviews of financial transactions and reconciliations to identify and address discrepancies or issues.
2. Book Closing:
   • Lead the month-end, quarter-end, and year-end closing processes, ensuring all financial transactions are recorded accurately and in accordance with accounting standards.
   • Coordinate with various departments to gather necessary information and documentation for book closing activities.
   • Prepare and review journal entries, account reconciliations, and financial statements to ensure accuracy and completeness.
3. Treasury Management:
   • Cash Flow Management: Monitor and manage daily cash flow to ensure sufficient liquidity for operational needs and investments.
   • Treasury Reporting: Prepare and analyze reports on cash positions, forecasts, and investment performance for management review.
   • Compliance and Controls: Ensure compliance with internal policies and regulatory requirements related to treasury activities and financial transactions.
   • Treasury Systems: Utilize and manage treasury management systems to streamline processes and enhance reporting accuracy and efficiency.
4. Financial Reporting:
   • Prepare and present timely and accurate financial reports, including monthly, quarterly, and annual financial statements and performance metrics.
   • Analyze financial data and trends to provide insights and recommendations for financial performance improvement.
   • Ensure that financial reports comply with regulatory requirements, industry standards, and company policies.
5. Compliance and Documentation:
   • Maintain up-to-date knowledge of accounting standards, regulations, and industry best practices to ensure compliance.
   • Assist with internal and external audits by providing necessary documentation and explanations.
   • Develop and maintain comprehensive documentation for financial processes and procedures.
6. Digital Initiatives and General Support:
   • Drive automation in various routine and ad-hoc reporting (using latest technology).
   • Provide support to the finance team in ad-hoc financial analysis, reporting, and project-based tasks.
   • Collaborate with other departments to facilitate accurate financial reporting and analysis.
   • Stay current with industry trends and changes in accounting standards that may impact the company’s financial reporting.

Minimum Educational, Technical Qualifications/Certifications Required

• Degree in accounting (Bachelors/Masters)
• Professional Accounting qualification: CA / ACCA or equivalent qualification
• IFRS proficiency (including certifications thereon)
• Strong knowledge of SAP
• Advanced skills in MS Office applications
• Proficient in data visualization tools (Power BI preferred)
• Bilingual capabilities preferred (English & Arabic)

Minimum Professional Experience Required

• Qualified CA or ACCA with 6 to 8 years experience, preferably in Oil and Gas industry
• Should have worked in a supervisory role managing a team of 2-5 people
• Trainee from BIG 4 audit firms preferable
• 5+ years of experience in financial control, book closing, and reporting, preferably in the Oil and Gas industry.
• Strong knowledge of accounting principles, financial reporting, and regulatory compliance.
• Proficiency in SAP Modules (such as FICO, MM, PS, BPC) and advanced Excel skills.
• Excellent analytical skills with a keen eye for detail and accuracy.
• Strong organizational and time-management skills, with the ability to manage multiple tasks and meet deadlines.
• Effective communication skills and the ability to work collaboratively with cross-functional teams.