Accounting & Financial Reporting Specialist

Overview

The jobholder will be responsible for:

• Good understanding of IFRS and Insurance industry
• Accurate and timely reporting of financial & regulatory reporting as per IFRS and ensure compliance with Insurance Regulatory (CBUAE & FSA Oman).
• Involve and support Tax department (UAE and Oman) for filing VAT and Corporate Tax returns, including Tax compliance and advisory functions as and when required.
• Responsible for all GL data entry transactions related to Oman branch.
• Month end close activities reporting work including compilation and analysis of financial data.
• Maintain supporting documents related to BS reconciliations while ensuring full compliance with accounting principles adopted by the company.

Accountabilities:

• Follow the month end close procedures and ensure timely and accurate closure of general ledger for both IFRS 4 & IFRS 17
• Ensure the GL balances reported are aligned with the respective sources and supporting documentations (front end systems, data provided by other functions)
• Enhance/develop internal controls for Oracle Finance General Ledger transactions
• Prepare Fixed Assets (including IFRS-16), Prepayments, Accruals, Staff Debtors registers etc
• Support BS reconciliation team to clear reconciling items related to GL accounts and provide supporting documents.
• Involve in preparation of IFRS financial statements, Ministerial returns and disclosures in accordance with IFRS and regulatory requirements.
• Preparation of periodic regulatory deliverables to FSA Oman and other regulatory authorities in Oman.
• Act as the first level of contact for both internal / external stakeholders regarding all Financial Reporting matters (Like External Auditor, Tax consultant, Compliance, Legal, etc)
• Preparation of the reconciliation of respective VAT balance sheet accounts and take initiatives to resolve differences monthly basis.
• Ensure timely preparation and filing of VAT and CT returns with tax authorities and to resolve queries if any. To liaise with Tax authority, internal and external auditors to ensure a smooth audit closure.
• Prepare monthly P&L for all lines of business and other supporting report
• Provide monthly/quarterly profit center forecast and prepare yearly budget of respective profit centers
• Support Unit head performing financial analysis

Qualifications / Requirements:

• Bachelor’s degree in Accounting, Finance, or a related field; professional certifications such as CPA, ACCA, or CA are highly desirable.
• Minimum 5 years of relevant experience in financial reporting, insurance accounting, and regulatory compliance, preferably within the insurance or financial services sector.
• Strong understanding of IFRS standards, particularly IFRS 4 and IFRS 17.
• Proficiency in insurance industry regulations (CBUAE, FSA Oman).
• Hands-on experience with Oracle Finance or similar ERP systems.
• Knowledge of VAT and Corporate Tax regulations in UAE and Oman.
• Experience in tax compliance, advisory, and liaising with tax authorities.
• Strong skills in financial analysis, budgeting, and forecasting.
• Ability to prepare and analyze P&L statements, balance sheet reconciliations, and regulatory returns.
• Excellent problem-solving, negotiation, and communication skills.
• Ability to work under pressure and meet strict deadlines.
• Strong attention to detail and commitment to accuracy.
• Experience coordinating with internal and external auditors.
• Proven track record of clean audit reports and regulatory compliance.