Manager- Reporting & Compliance- VAT- Oracle System Expert

  • Contract
  • Dubai
  • Posted on May 6, 2024

aG Resources is looking to connect with Manager-Reporting & Compliance (VAT)- Oracle Expert on an immediate basis.

Location: Dubai

The job holder will manage and oversee financial accounting and reporting function and implement financial reporting/accounting, VAT (Value Added Tax) and Corporate and control methodologies/initiatives and offer financial advice in line with the strategic objectives of the company to ensure financial control and profitability for the business.

Key Accountabilities:

Financial Objectives, Controls and reports

  • Support the department head in the implementation of financial plans related to Financial Accounting in-order to meet the departmental objectives and to ensure financial stability and cost benefits for the organization. Assess and measure control measures for Financial Reporting.
  • Maintain Chart of Accounts (COA) and General Ledger (GL) Hierarchies/Organization Structure which includes managing the process for COA and Hierarchy change requests from Entities while adhering to a control framework. Liaise with other enntities as needed to ensure compliance with structural requirements.
  • Responsible for issuance of consolidated and standalone statutory/ financial statements and reports, audit co-ordination and financial accounting and schedules in line with Company policies and procedures to ensure compliance with relevant financial reporting standards such as IFRS for all entities.
  • Generate Ad Hoc Reports as and when required by the business and external third parties by coordinating with the concerned departments for information required for consolidating the reports.
  • Provide quarterly/semi quarterly and consolidated regulatory and financial report(s) on non-compliance and governance with recommendation and corrective actions for decision making to senior management to make informed decisions.

VAT

  • Manage monthly VAT return preparation, review and submission process. Review, reconcile and approve monthly VAT Returns to ensure accurate, timely and complete submission of VAT returns.
  • Collaborate with the VAT consultants for accurate and efficient submission. Stay up to date on current VAT and excise duty regulations and changes to apply as per business requirements.
  • Provide advice on general VAT liabilities and VAT implications of transactions to the wider business. Ensure adequate reflection of such transactions in the VAT return.
  • Manage monthly VAT refund submission process and document information as applicable.
  • Carry out adhoc projects to review selected business activities and processes to manage VAT risks.
  • Stay abreast with any new tax regulations, assess their implications and support in implementation of new tax regulations.

Corporate Tax:

  • Ensure compliance as per applicable laws and requirement by reflecting correct accounting treatment.
    Systems:
  • Provide input for the development and enhancements of systems in coordination with other concerned department to meet departmental business requirements and to be in line with best standards.
  • Provide inputs and suggestions for continuous improvement of Financial Reporting processes and practices taking into account ‘International Best Practice’ changes in International Standards and changes in the business environment which demand proactive action plans in line with company objectives.

GL activities:

  • Review monthly financial accounts, balance sheet schedules, management reports and financial analysis within stipulated deadlines.
    Audit:
  • Schedule Internal/External/Government/Third Party audit activities and prepare for the auditing of financial data and assist the auditors for completing audits as per the schedule.
  • Prepare action plans for audit findings and interact internally and externally to ensure all the audit findings are worked on and successfully dealt with facilitating subsequent audits. Maintain and manage audit clearance and external audit ICR (Internal control Review) documentation.

Policies, Processes, Procedures and Practices:

  • Provide inputs in developing financial policies, processes, procedures and practices for financial management that ensure adequate financial controls over all company operations thereby ensuring the cost advantage in all its resource utilization and financial activities.
  • Review and evaluate the financial information periodically/regularly to ensure compliance with company policies and procedures and effective control within the company.

Advisory and Leadership:

  • Provide support to team in interpreting, analyzing, and concluding the financial accounting issues related to application of Internal Policies and Accounting Standards.
  • Conduct in-house trainings for the team members to keep them updated regarding the standards for financial accounting and ensure timely resolution of their queries.

Key Performance Indicators

  • Timely and accurate System enhancements and customized reports.
  • Number of recommendations approved and accepted.
  • Financial plans approved and implemented.
  • Financial Policies and procedures; forms and templates in place.
  • Timely and accurate submission of all monthly, quarterly and annual reporting.
  • Overall quality of the Financial Statements, GRPs and Reports.
  • All statutory financial statements are in line with policies and procedures and are IFRS compliant.
  • Control measures in place for Financial Reporting.
  • Latest Hierarchies in Financial Systems reflect the latest Organization structures as confirmed by legal team.
  • Follow up on Audit feedbacks.

 

Customer Satisfaction.

  • Team members have clear understanding of policies and financial accounting standards.
  • Number and quality of improvements are in line with corporate expectations and implemented.
  • Robust review of VAT return and refund submissions and underlying reconciliations.
  • 100% compliance to regulations and laws in relation to VAT.
  • Effectiveness in establishing appropriate reporting and control procedures.

Internal/External:

  • External auditors/ Government auditors/ FTA auditors
  • External consultants/ Industry peers and bodies/ Regulatory & statutory authorities

 

Minimum Qualifications and Knowledge:

  • Qualified ACA (Associate Chartered Accountant) /CPA (Certified Public Accountant)/ ACCA (Association of Chartered Certified Accountants)
  • In-depth knowledge of accounting principles and financial reporting standards
  • Minimum of 4-6 years’ experience with at least 2 years’ experience at managerial level working with Financial Reporting, tools and Oracle systeJob Types: Full-time, Contract