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Job Description
JOB PURPOSE
To manage the financial accounting and reporting activities within LCGPA, by providing consolidated financial statements, overseeing payment activities for third parties and monitoring the accuracy of the general ledger to ensure the financial integrity of the books and provide appropriate financial information for effective decision making.
KEY ACCOUNTABILITIES
DESCRIPTION
Strategy and Planning
§ Translate Finance General Department strategies and policies into operational plans and organize the work of the Accounting Department and oversee its implementation to deliver services and achieve its objectives.
People Management
§ Supervise the team work of the Accounting Department and follow-up on the evaluation of their performance by providing feedback on an ongoing basis and seek opportunities to develop their capabilities in order to motivate them and raise the level of performance of the work of the department.
§ Identify the training and development needs of the Accounting Department employees and fill the knowledge gaps to ensure continuous development and a high level of competence within the team.
Budget Management
§ Prepare and propose the Accounting Department budget and control expenditures within the approved budget to enable department to estimate projected expenditures to ensure efficient and effective use of financial resources.
Financial Statements and Reports Development
§ Develop and implement accounting and financial reporting systems to provide accurate and timely consolidated reports to meet the needs of LCGPA and ensure that record systems are maintained in accordance with Generally Accepted Accounting Principles and Ministry of Finance requirements.
§ Manage the preparation of financial statements by ensuring the accurate recording of revenues, expenses etc. and monitoring account reconciliations and yearly closing of accounting books to monitor LCGPA’s performance against business goals including revenue and cash flow.
§ Prepare critical financial reports and ad-hoc analysis for relevant stakeholders such as the Board of Directors to ensure reporting accurate and timely information about LCGPA’s financial position to support the decision-making process.
Accounting Systems Management
§ Oversee the approval and processing of revenue, expenditure, departmental budgets, mass salary updates, general ledger, account maintenance and data entry to ensure identifying and highlighting potential weak areas.
§ Manage the execution of central accounts activities in LCGPA to ensure that all payment, contract, accruals and related transactions are treated in an appropriate manner according to internal and statutory controls, as well as appropriate international standards.
§ Ensure the timely and accurate cost allocation of all transactions / payments to the respective departments, as well as the timely updating and communication of all payments, to support the accurate and efficient cost control.
§ Participate in the development and maintenance of proper payments within central accounts payable, other statutory reserves to ensure the timely and accurate processing of accounts payable operations.
§ Manage the fixed assets accounting for LCGPA’s capitalized and non-capitalized assets to ensure all entries and amortization calculations are performed in a timely and accurate manner.
Document Management and Control
§ Monitor and follow up on the documentation of all accounting records, book reconciliations and accounting activities to ensure the accuracy and completeness of working papers, analysis and results to support findings and recommendations.
§ Monitor document management and information systems and procedures to ensure the adequate preparation and presentation of accounts and records for financial and tax auditing processes.
Communication Management
§ Assist in the coordination with external auditors, financial controllers, Zakat advisors, and external service providers, while appropriately outsourcing relevant services to ensure that any queries are answered in a prompt and efficient manner and protecting LCGPA’s best interest.
§ Ensure the review of contracts and agreements with vendors and third parties to protect LCGPA’s financial interests while ensuring that all invoices and payments comply with the relevant terms and conditions and are processed efficiently through the central accounting unit.
§ Ensure that all required information and reports regarding the central accounts’ activities are timely and accurately communicated to all relevant parties and stakeholders to provide a thorough picture of the transactions to all relevant parties.
Tax and Zakat
§ Support LCGPA’s tax and Zakat calculations, documentations, and payments to ensure that they are carried out accurately and timely and mitigate financial risks that relate to tax and Zakat payments.
Treasury and Banking
§ Direct the cash management functions including monitoring and analyzing LCGPA’s cash position, cash forecasts, risk management, etc. to ensure proper funding management and meeting LCGPA’s liquidity demands.
§ Ensure effective working relationships with banks and financial institutions for LCGPA’s benefit.
Policies, Systems, Processes, Procedures, Standards and Reports
§ Direct the development of Accounting Department policies, systems, processes and procedures to ensure the consistent application and ease of operations for subordinates.
§ Conduct a thorough review and analysis reports submitted by subordinates and make timely decisions to ensure enhancing the Accounting Department performance, mitigating highlighted risks and achieving LCGPA’s objectives.
Related Tasks
§ Perform any other related tasks and duties as directed.
Technical Competencies
TECHNICAL COMPTENCIES
§ Performance Management – Advanced
§ Accounting – Advanced
§ Financial Reconciliation – Advanced
§ Financial Analysis & Reporting – Advanced
§ Cost Management – Advanced
§ Financial Risk Management – Advanced
§ Relationship Management – Advanced
§ Strategy Development – Advanced
Education
Finance, Accounting or related fields, including professional certification such as Certified SOCPA
