Finance Analyst

ENOC LUBRICANTS AND GREASE MANUFACTURING PLANT LLC

Job Purpose

The job holder plays a key role in preparation and analysis of company s financial accounting and maintains books of accounts on ERP systems with very minimum supervision. In addition, he provides necessary support to Finance Controller and other departments in maintaining unified controls, governance, accounting standards relevant to all business issues/concerns.

Principal Accountabilities

Financial Accounting Activities

• Passing JV s as required to conclude month end and year end closing.
• Prepare GL schedules and reconciliations for balance sheet items and highlight to Controller.
• Responsible for finalization of annual accounts, as per local standards (where applicable) and international standards like IFRS in line with external reporting timelines.
• Participates in projects that require input and advice from Finance.
• Provide backup support for team members during their leaves.
• Other projects like review of agreements, DOA, policies, and procedures etc as and when arises.
• LPG Network accounting.
• Rebate and Discount accrual Customer-wise.
• Month end closing modules (GL, AP, AR, Treasury, FA.etc).

Accounts Payable

• Follow up with Group Financial Services to ensure that all payments are released on time.
• Generate report showing consignment stock report and analyse the turnover, the quantity and value associated with it.
• Check and analyse invoices mismatch list and provide with the clear clarifications and corrections of the same.
• Conduct intense analysis on AP accounts as well as supplier aging reports and provide with an action plan.
• Prepare and perform variance analysis of payments and present payments trends based on the previous payment history and make recommendations for further improvements.
• Pass necessary accruals/provisions if required.
• Submitting LPGNW, Beyond Gas, ENOC expense recharge Invoices, CNG, RFID, and other to GFS for direct booking.
• Submitting Prepaid Invoice to Ad hoc AP and reversal when GRN is made.
• Dewa, Fewa, Sewa, ETISALAT Invoice booking to GFS, sharing Invoice with Department, and sharing payment with Vendor for allocation.
• Process timely payments for all the utility /account/diners accounts & corporate credit cards, petty cash, and other bill payments.
• Checking Dugas and ESTC Product Invoices with Delivery note and submitting ISTO Invoice to GFS
• Retention payable to be released on due date after taking Depart manager Approval.
• Liaising with Vendor Registration and Group Finance for Vendor Bank details amendment.
• Reviewing suppliers invoices received by mail, other departments.
• Ensuring suppliers invoices are approved, wherever applicable in line with the company procedure and booked in the system on a timely basis.
• Check payment schedules and process payments on due dates, and urgent payment request as per agreed timelines.

Fixed Assets & Projects Capitalization

• Closely interacts with operations and technical services departments/IT regarding projects which are commissioned and ensure its timely capitalization.
• Ensures that all projects are capitalized within the set time frame as laid out in the company's procedures by providing details of ER's and follow up with these departments.
• Issue monthly status to report on capitalisation.
• Assist the business units in asset upload and ensure that necessary details are included while upload.
• Ensure that asset write off are done as per approved DOA and asset identified for write off are in agreement with FA register.
• Assist the Finance Controller in periodic impairment testing (CGU).
• Prepare necessary fixed assets schedule as per audit requirement.
• Communicate to business ER which are long pending to be capitalized and clear the same accordingly.

Additional Principal Accountabilities

• Produces ad-hoc reports as required by the Management or Departments.
• Co-ordinates with Group Finance Shared Services (GFS) on specific transactions of the company under the purview of GFS.
• Ensure timely closure of project module.

Cash & Bank Reconciliations

• Preparing Bank Reconciliation all 3 Bank Account on daily basis. Inclusive of different MOP s.
• Intimating Cashier for preparing receipt for Bank transfer all 3 Banks.
• Petty Cash Reimbursement claim checking for Account codes and Approval as per DOA.
• Perform a daily reconciling between the daily transactions from the system/website to what is received in NI portal and from NI portal to designated bank account.
• Contribute to identifying improvement in payment solution process relating to system integration and reconciliation.

Insurance

• Insurance Declaration.
• Insurance claim liaising with Group Insurance.
• Product in Transit Insurance Declaration.