Chief Accountant | Sharjah Coop

1. Job Purpose

• Develop and ensure implementation of new innovative budgeting models and automated planning spreadsheets to ensure adequate budgeting flow and reliability of foretasted financial data.
• Ensure that financial transactions of Sharjah Co-op have been appropriately accounted for and accurately reflect the company’s accounting process.

2. Key Accountabilities

• Consolidate business plans of all operating business units into legal entity-wise corporate budgets and into one group level business plan to provide financial data to senior management for strategic business performance evaluations.

• Prepare strategic turnaround investments/divestment business cases.

• Identify cost or expense reduction areas to ensure profitability through effective analytical techniques analysing potential or excessive cost incurrence.

• Supervise banking transactions and provide reports on day-to-day cash flow reputation.

• Responsible for Fixed Assets accounting to ensure correct allocations and remain of assets.

• Providing support to internal and external auditors for requests and inquiries.

• Assist in conducting performance reviews, SWOT analysis, valuations and capital management using different quantitative techniques.

• Supervise day-to-day financial transactions, including verifying, classifying, computing, posting, and recording accounts payable data.

• Set standard procedures for the review process of invoices and the necessary supporting documents in line with internal policies and procedures.
• Managing and developing the Budgeting & Planning team and ensuring qualified accountants can perform the assigned duties.
• Ensure all budget and planning employees have set appropriate KPIs that align with the overall department targets, analyse performance achievements, take corrective actions whenever needed, provide positive feedback regarding team achievements, and ensure high motivation levels.

• Develop a creative and innovative environment to encourage the team to implement new ideas, which lead to a competitive advantage, further growth, and profitability.

• Conduct research and identify new trends/technical solutions and feasibility studies to ensure the organisation’s development.

• Manage month-end, quarter-end, and year-end closing procedure, follow up with concerned departments and finance team members and ensure accurate and timely data entry to perform closing activities.

• Prepare reports which provide well-informed information on the section’s activities, problems/potential problems identified, short- and long-term financial implications, opportunities, results of efforts, risks, and recommendations for corrections.

• Perform any other relevant tasks assigned by the Budgeting & Planning manager along with the financial controller.