Description

Team Leader, Accounting (General Ledger)

Job Id 1853

Category Other

United Arab Emirates

JOB PURPOSE

The jobholder is responsible to lead the General Ledger for Borouge ADP, and Borouge PTE Abu Dhabi in line with the IFRS, ADNOC & Borealis directives, to ensure proper financial structure of Borouge and support Finance and Owners\' requirements and Borouge\'s processes.

This role includes; developing and monitoring accounting principles, practices and procedures to ensure accurate and timely financial; managing the creation and adjustment of all accounts; reviewing and analyzing accounts and preparing financial statements; setting up the financial calendar for accounting activities; i.e. general ledger preparation, financial reporting, and year end audit and tax preparation, while ensuring the internal control over the tasks to avoid risk or conflict; and leading the audit activities to ensure the accounts reconciliation.

KEY ACCOUNTABILITIES

Accounts Management

Manage the structure of the general ledger to ensure correct classification of accounts in the relevant general ledger, as part of planned general ledger standardization, and best accounting practices to support budgeting and forecasting.

Lead the development and creation of new Accounts in the Financial System to support the business requirements.

Drive the process of hierarchy and scalability in chart of accounts and accuracy in the general ledger and financial statements.

Authorize to create, delete and block cost elements to ensure scalability of chart of accounts, in line with the authorization for the entire Borouge ADP.

Maintain the posting and maintenance of general ledger accounts to ensure integrity of the General Ledger reconciliations to appropriate sub-ledgers and supporting documents for the monthly end reconciliation.

Finance Service Plan

Develop the Finance Plan, and Calendar to meet various requirements from internal and external stakeholders to ensure timely submission, revision, and closure by respected teams.

Lead the financial calendar within Borouge to ensure clarity of timelines and all other required information; i.e. Financial Closures Calendar, etc.

Lead the communication and planning with the selected end users in Borouge on monthly basis with the closure plan to ensure their understanding and discuss any issue.

Periodic Financial Closure

Manage the overall month end and fiscal year end closing processes, ensuring timely and accurate reporting for Borouge ADP and Borouge Private PTE Abu Dhabi that are compliant with corporate and local statutory requirements

Review the monthly financial closure to ensure accurate analysis of financial results for all respective organizations and cost centres, while handling the financial variances and any related explanations.

Perform monthly accruals/journals posting in an accurate and timely manner according to timetables and ensure that they conform to guidelines and/or procedures for Borouge ADP and Borouge Private PTE Abu Dhabi.

Revise all balance sheet accounts including Interco, bank reconciliations and Fixed Assets Register to ensure they are reconciled and analysed

Provide guidance and advice to team members and business partners related to general ledger, fixed asset and payment processing in areas including but not limited to approval authority, procedures, account coding and set-up, deadline tracking and general process workflow.

Accounts Authentication

Maintain journal entries with the details of every business transaction, as each transaction occurs, to ensure each transaction is categorizing under a relevant account, and data accuracy for each account

Lead the intercompany reconciliations on monthly basis with various stakeholders to reduce the chance of inaccuracy in our financial statements

Maintain a monthly revision of all general ledger accounts and have a proper justification for unusual transactions and fluctuations.

Maintain and ensure the accruals and provisions are recorded with proper approvals as per the DOA for effective internal control.

Statutory Reporting & Audits

Manage the process of the statutory financial statements for Borouge ADP and Borouge PTE Abu Dhabi Branch; this includes the final reconciliations, disclosures and schedules for the external auditors\' work.

Manage the revision and finalization of the external audit findings with all stakeholders, and follow up the agreed recommendations.

Manage the process of internal Audit in General ledger and provide ideas and solutions to close all audit points with the agreed timeline.

Manage the ICFR (Internal Control over Financial Reporting) process with external auditor within General Ledger section to comply with ADNOC requirements.

Finance Processes & Support

Evaluate existing accounting processes, workflow and documentation and recommend and drive continuous improvements and enhancements to systems and processes to increase efficiencies

Oversee SAP general ledger account master data maintenance, including yearly cleansing of master data

Develop and improve by automation of the general ledger reports with the support of Business Process Specialist regularly.

Lead the periodic; i.e. year-end, monthly, etc. financial closure to prepare a detailed closing plan with full month end activities

Manage the revision of the General Ledger Procedures on yearly basis if needed.

Record the sales of Ethylene and cost of goods sold related to it if not recorded automatically in the system.

Implement the Internal Controls over Financial Reporting in the financial activities within General ledger to ensure safeguard an organization and minimize risk

Evaluate and revise the current internal control and update the risk assessment matrix related to General Ledger on yearly basis to have a clear view of the risk environment .

Business Strategies & Practices

Contribute to the proper cascade of Borouge, and respective Functional / Departmental strategies, policies, and practices of the vision and long term strategy for Borouge, and contribute to the overall process of corporate governance, management and decision making to ensure the organization maximizes returns to its shareholders.

Lead the implementation of the function\'s Business Strategy, ensuring that the overall business goals are fully adhered by the team.

Monitor the team\'s performance in relation respective contribution towards the company\'s and functional long and short term plans, functional objectives, and in line with established service levels.

Operations Supervision

Manage the outputs and all expectations by the team. Empower, recommend, and motivate the team towards uplifting their competencies in relation with their occupations and projects.

Derive and empower the team to ensure proper working environment according to the company culture.

Control expenditure against approved functional budget on a regular basis and investigate & reconcile any significant variances to ensure effective performance and cost control

Spearhead the Team through staffing, conducting performance appraisals, training and developing successors.

Lead the team to make sure accomplishment of all tasks by conducting regular short and weekly meetings.

Provide the team with support and guidance in relevance to all activities, policy and procedures.

Process Development

Propose, update, and recommend improvements to process that enhance the quality of service provided to employees

Create and foster spirit among the team that encourages innovation, enhances employee motivation and supports initiatives for implementation of Change Management to continuously improve processes and services.

Lead the evaluation of internal processes against best practices in pursuit of more efficient functional processes in order to define intelligent solutions for issues confronting the function.

Align the respective policies, processes, systems, standards, procedures and internal controls, includes ensuring compliance with Functional and Company\'s guidelines.

Ensure compliance with all applicable legislation and legal regulations and propose solutions to the management on issues related to the function.

Borouge Generic Responsibilities

Keep abreast and knowledgeable about his / her role contribution towards the areas of Health, Safety & Environment (HSE), Sustainability, Energy Management, Ethics & Regulations, and Quality Management and its respective policies, frameworks, procedures, and objectives; it. And to support and enrich the culture and understanding of it through his / her communications with the internal and external contacts

Participate and contribute in the design, development and establishment of an Integrated Risk Management Framework within the Unit while identifying and assessing relevant domain risks and implement measures to manage and mitigate all identified risks within the function.

Ensure corporate business ethics and Company\'s Code of Conduct are communicated to employees within the function in compliance to the Corporate Policies and guidelines.

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS

Minimum Qualification

University degree in Business, Finance, , accounting or any related discipline

Fluency in English Language; written and oral

IFRS training courses

Minimum Experience & Knowledge & Skills

Minimum 10 - 12 years of related experience in accounting, preferably in a corporate environment

Computer literate with ability to operate the SAP 4 HANA system.

Strong communication and organizational skills.

Proficient in MS Excel.

Good critical thinking and problem solving skills.

Professional Certifications

ACA, ACCA, CPA, CIMA, CFA Holder (Mandatory)

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