Job Description

Job Summary
We are recruiting for a General Accounting Lead position for Dubai Location.
Job Requirements:
Key Result Areas (Key Accountabilities)
General Accounting Oversight

• Direct and oversee the daily activities of the general accounting team, ensuring accurate and timely recording of financial transactions, journal entries and reconciliations.
• Direct and oversee the month-end and year-end closing, including preparation and monitoring of month-end timetable, closing of books of
• Dubai Petroleum Establishment (DPE) and Dubai Supply Authority (DUSUP), and reconciliation of management reports and trial balance.
• Preparation of year-end and statutory adjustments, including but not limited to inventory obsolescence and decommissioning liability.
• Ensure compliance with accounting policies / standards and regulatory requirements. Stay updated with changes in accounting standards and regulations and implement necessary adjustments in accounting procedures.
• Review the monthly billing and schedule relating to Joint Operating
• Agreement between DPE and DUSUP.
• Assist the Accounting Team Lead during financial audits of external and government auditors. Provide necessary documentation and explanations to support audit activities and ensure audit readiness.

Accounts Receivable Management

• Supervise the accounts receivable process, including issuing invoices accurately and on time, monitoring collections, and following-up on overdue payments.
• Coordinate with Department of Petroleum Affairs (DPA) for the amounts received from DUSUP customers.
• Maintain customer master in Oracle ERP and periodic review of the customer accounts in accordance with Accounts Receivable Procedure.
• Maintain positive relationships with customers to resolve billing inquiries and payment issues promptly and professionally.

VAT Compliance

• Review monthly reconciliation of VAT accounts.
• Review the quarterly VAT Returns and ensure accuracy and compliance with VAT Laws and Regulations. Ensure submission of the Quarterly VAT Return to Accounting Team Lead for review as per the agreed timeline.
• Prepare the VAT Refund Form and ensure compliance with the latest requirement from Federal Tax Authority (FTA). Ensure submission of the Quarterly VAT Refund Form to Accounting Team Lead for review as per the agreed timeline.
• Preparation of the Presentation of the Quarterly VAT Return for Finance Manager and Head of Finance review and approval.
• Coordinate with tax advisors for the review of Quarterly VAT Return and any requirement from tax advisors as part of Quarterly VAT Return review. Prepare response to Tax Advisor's comments on Quarterly VAT Return.
• Submit the Quarterly VAT Return to FTA Portal on or before the deadline.
• Ensure to obtain the required supporting documents for any adjustments in Box 7 of the Quarterly VAT Return.
• Prepare an assessment on tax application of new transactions for review of the Accounting Team Lead.
• Maintain the Tax Manager in Oracle ERP, including defining the tax type for each activity.

Fixed Asset Management

• Review and ensure an accurate and up-to-date fixed asset register, including acquisition, depreciation, disposal, and write-off details for all fixed assets owned by DPE and DUSUP.
• Review schedule of Capital Work in Progress and coordinate with Budget and Reporting Team the timely submission of Authorization for Expenditure (AFE) Closure Form and ensure that completed AFEs are capitalized on time.
• Ensure compliance to Fixed Asset Policy and AFE Procedure.
• Review the depreciation/depletion expenses for Fixed Assets in accordance with Accounting Policies.
• Perform periodic impairment assessments for fixed assets in accordance with Accounting Policies.

Financial Reports

• Lead the preparation and review of the monthly reports and annual reports required by DOF.
• Lead the preparation and review of the annual financial statements of DPE and DUSUP.
• Ensure that the above reports are prepared accurately in accordance with DPE and DUSUP Accounting Policies and Regulations and submitted within established deadlines.
• Preparation of Accounting (Technical) Memos as required support for the financial statements.

Balance Sheet and Account Reconciliations

• Review of balance sheet and account reconciliation prepared by the Accounting Team to ensure accuracy completeness, and proper classification of assets, liabilities, and equity.
• Identify and resolve discrepancies or issues in reconciliations promptly, working collaboratively within Accounting Team and Budget and Reporting Team to address underlying causes and implement corrective actions.
• Prepare schedules required for the audit of DPE and DUSUP financial statements.

Policies and Procedures

• Develop, update and implement accounting policies, procedures and controls to enhance internal controls, streamline processes and ensure compliance with regulatory requirements.
• Ensure awareness of Accounting Team members on new policies, procedures, and systems. Monitor adherence to policies and procedures and recommend improvements as needed.
• Ensure that all accounting policies and procedures are updated in accordance with Corporate Governance Policy.
• Respond to supplier's inquiries in Supplier Portal regarding VAT.

Supplier Master Updates in Oracle
Supplier Master Updates in Oracle

• Oversee updates and maintenance of supplier master data in Oracle ERP System, ensuring accuracy, completeness, and compliance with Policies.
• Ensure that vendor bank account details are registered in Oracle ERP after receiving all required documents and performing due diligence, including confirmation call in accordance with procedure.
• Ensure that tax is properly set-up for suppliers.

Others

• Be a super user for Oracle within the Finance department, working on ways to improve efficiency and working practices for the benefit of the broader Organisation.
• Perform special projects as and when required by the Finance.
• Back up for Accounting Team Lead when on leave or not in office.

Other Competencies / Skills / Others
Educational Qualifications:

• Bachelor's degree in Accounting, Finance or a related field is required.
• Professional Qualification, Certified Public Accountant (CPA), Chartered Accountant (CA) or Association of Chartered Certified Accountants (ACCA) is required.

Experience Profile:

• Minimum 10 years of general accounting experience, preferably in Oil and Gas industry , with significant portion of time in a supervisory or team lead capacity.
• Minimum 10 years of experience in preparing financial reports, financial statements, technical accounting memos, and exposure to external audit processes, with extensive knowledge in International Financial Reporting Standards.
• Minimum 5 years of experience in UAE VAT Laws, including preparation of VAT Return, VAT Refund, Tax Treatment Assessment, and in-depth knowledge of regulations and compliance requirements.
• Hands-on experience in managing accounts receivable processes, including invoicing, collections, and reconciliations.
• Strong background in developing and implementing accounting policies, procedures, and controls to ensure regulatory compliance and mitigate financial risks.
• Expertise in reviewing balance sheet reconciliations and resolving discrepancies in a timely manner.
• Experience in maintaining supplier master data, including bank account details, in Oracle or similar ERP systems, ensuring accuracy and compliance with internal policies.
• Experience working with ERP system (preferably Oracle ERP).

Competencies/Skills/Others:

• Excellent analytical and reporting skills.
• Strong communication and interpersonal skills, including the ability to effectively communicate financial information to non-financial stakeholders.
• Ability to collaborate across teams, work effectively in a fast-paced environment, and manage multiple priorities while meeting deadlines.
• High attention to detail and ability to multi-task.
• Ability to identify and address issues, proposing effective solutions.
• Flexible to navigate changes in regulations, procedures, or organisational structure.
• React and adapt to change and new developments in a positive manner.
• Strong leadership abilities, including the ability to mentor and develop team members, foster a positive work culture, and drive performance excellence.
• Proficiency in Microsoft Office (Excel, Word, PowerPoint and Outlook), preferably with intermediate to advance excel and PowerPoint skills.
• Valid United Arab Emirates (UAE) Driving License.

Skills Required