A multinational free zone company is recruiting a CPA (or equivalent qualified) Senior Financial Accountant having 5 years of accounting and audit experience who will play a pivotal role in ensuring accurate financial reporting and maintaining financial integrity within the organization. He/She will be responsible for overseeing various accounting functions. This position requires strong analytical skills, attention to detail, and the ability to collaborate across departments.
Job Responsibilities
1. Verify, allocate, post, and reconcile accounts payable and receivable
Reconcile monthly sales journal with Debtors/Creditors Account
Reconcile monthly purchases journal with Creditors accounts
Cooperate with the treasurer to repatriate the funds and confirm ALL transactions are hedged, except for USD
2. Ensure correct hedging rates are processed for each receipt/payment
Receipts: Liaise with the treasurer to ensure timely repatriation of funds and timely receipt of final hedged rates to be applied to the received funds
Payments: Coordinate with the Treasurer for setting-up of automated hedged payments during the set-up process. Once the set-up has been completed, ensure that rates are received, and that the treasurer has all necessary information for requests of funds and hedging.
Check and explain the exchange gains and losses on debtors\xe2\x80\x99 settlement monthly.
3. Monthly Reporting to the parent company:
Debtors/Creditors ageing by invoice date and due date
P&L Interco transactions by entity
Balance Sheet Interco balances by entity
4. Send monthly statements to customers
Latest date to input ALL receipts from customers is 1st working day M+1 / ensure all entries are made in the accounting system
Check and match the receipts in the bank statements against the accounting system records
Follow-up with ALL distributors to receive the confirmation of their balances and transactions
Explain ALL discrepancies
Create / update the monthly reconciliation file.
Calculation and recording of late interest payments of group customers as per group policy.
6. Investigating and resolving account discrepancies, and issues of non-compliance.
Update the monthly reconciliation file used for follow-up and documentation of balances and differences against the records of debtors and creditors
7. Handling Accruals and Prepayments
Follow-up and matching with corresponding invoices + liaise with the treasurer for hedging and repatriation of funds and follow-up with Supply Chain department with rates to be applied when invoice is issued
8. Handling requests from Auditors for all debtors-related queries
9. Self-evaluation of PACI Standard Priorities / Internal Audit for the department
Self-evaluate the department with respect to the questionnaire
Identify deficiencies and improvements + propose action plans
Evaluate the consistency of the questionnaire and propose amendments with explanations
10. Ensure a well maintained, clean and accurate ledger and GL accounts related to customers and suppliers.
11. Prepare and explain the debtors/creditors balance for weekly meetings.
12. Prepare Tax Returns and documentation for FTA and MOF
Prepare VAT declaration and upload the in the FTA portal
Support on the preparation of Economic Substance Regulations report
Assist on the preparation of Corporate Income Tax declaration
13. Propose initiatives for improvement of current and new processes and accounting system.
14. Assisting with audit preparations.
15. Assist on revaluation of balance sheet accounts.
16. Act as a back-up for the General Accountant
Qualifications and Education Requirements
Bachelor\xe2\x80\x99s degree in Accountancy
Minimum of 5 years of experience in UAE
Strong expertise in AR, AP, and General Accounting
Audit or accounting shared service experience (Advantage but not required