Job Description

To lead, guide and direct the finance department of the company by developing financial plans and policies; defining accounting practices; building relationships with institutions, shareholders and the financial community; directing treasury, budgeting, accounting, tax, risk insurance and management information service activities for the company to ensure that all finance and accounting requirements of the company and the group companies are effectively managed.

1. Financial Management:

- Develop and maintain financial models, forecasts, and budgets for the factory.

- Monitor and analyze financial performance, identifying areas for improvement and implementing strategies to optimize profitability.

- Prepare financial reports, including income statements, balance sheets, and cash flow statements, and present them to senior management.

- Conduct financial analysis to support decision-making and identify cost-saving opportunities.

- Oversee the preparation of monthly, quarterly, and annual financial statements, ensuring accuracy and compliance with accounting standards.

2. Cost Management:

- Implement cost control measures to optimize factory expenses without compromising quality or productivity.

- Analyze manufacturing costs, including material usage, labor, and overhead, and provide recommendations for cost reduction.

- Collaborate with production and procurement teams to monitor and manage inventory levels, ensuring efficient stock management.

3. Financial Planning and Strategy:

- Provide financial guidance and support to senior management in strategic decision-making processes.

- Collaborate with cross-functional teams to develop and evaluate business plans, financial forecasts, and investment proposals.

- Identify and assess financial risks and develop risk management strategies to safeguard the factorys financial health.

- Stay updated with industry trends, market conditions, and regulatory changes that may impact financial operations.

4. Accounting:

- Oversee the accounting function, including accounts payable, accounts receivable, and general ledger activities.

- Ensure compliance with financial reporting requirements and relevant accounting standards.

- Review and approve financial transactions, ensuring accuracy and completeness.

- Manage the month-end and year-end closing processes, coordinating with internal and external stakeholders.

Functional Budgets and MIS

Develops budget for the finance function, key process indicators and other quantifiable measurement tools; monitors MIS to track results of department activities and takes corrective action to ensure compliance to budgets.

Coordinate preparation and approval of the annual budgets of the company, prepare MIS of planned vs. actual performance for each department, identify key issues and identify corrective action required in discussions with the top management to ensure that company budgets are accurately defined and monitored.

Conduct business operations review to identify areas of improvement from financial management and cost reduction point of view

Treasury

Develop long-term relationships with financial institutions and banks, liaise with banks and financial institutions to mobilize the funds required, coordinate preparation of the documentation required by the institutions and banks to ensure that the company receives the required finances from institutions and banks.

Analyze cash inflow statements and management reports in order to provide guidance to the top management on investment and budget issues

Statutory

1. Finalization of annual accounts and arrange for completion of Audit

2. Completion of all tax obligations in Oman including filling of returns and closure of tax assessment.

People Development

18. Select, train and develop direct reportees and other subordinates to ensure continuous improvement of finance function

19. Conduct periodic performance appraisal in line with the company's performance management program

20. Ensure continuous Human Capital improvements through business driven initiatives or as directed by Corporate Office/Management

Requirements

- Proven work experience as a Finance Manager or similar role within a manufacturing or factory environment.

- Strong understanding of accounting principles, financial analysis, and financial management.

- Proficient in using financial management software and advanced knowledge of MS Excel.

- Excellent analytical, problem-solving, and decision-making skills.

- Strong leadership and interpersonal skills, with the ability to collaborate effectively with cross-functional teams.

- Exceptional attention to detail and accuracy.

- Ability to thrive in a fast-paced, deadline-driven environment.

- Knowledge of regulatory requirements and compliance related to finance and accounting.

Education

- Bachelor's degree in Finance / Commerce

- CA / ICWA / CPA /CMA qualification is preferable

Experience

- 7to 10 years of significant experience in finance and accounting, some of which should have been as the head of the finance, preferably in the manufacturing industry

Kindly note this is a one-year contract renewable based on performance.