Business Unit Finance Manager – OMASCO

Job description / Role

Oman Marketing and Services Company (Omasco) is a leading trading, property and financial services business in Oman with key activities in automotive, marine, electronics, projects and engineering, industrial products and other services. Established in 1974, the company represents leading world-renowned brands and strives to be one of the most respected companies in Oman.

We currently have an opening for an experienced Business Unit Finance Manager, for Retail, Electronics and Distribution Business to join OMASCO.

The responsibilities of this role are:

Financial & Internal Controls

* The job-holder keeps internal controls under review and ensures that they are adapted when necessary to meet the changing business requirements and that all transactions are properly validated and authorized in accordance with Group Policies.
* Do location audit to review the operations at Branch level and to ensure that the operations are in compliance with the Company policies and procedures.
* To ensure that all collections are secured and banked daily and continuously review the process and controls.
* To ensure that all collections are entered in SAP before being sent to bank and valid receipts are issued to customers.
* Preparation of monthly management reports and reports for management board on running contracts/orders.
* Prepare tracker for industrial equipment for rentals and leasing.
* Support Finance Manager in Divisional Performance Review and Variance analysis.
* Co-ordinate and support Finance team in GL review and accounting related issues.

Commercial Management

* The Job-holder actively contributes in the formulation of the division's commercial policies & practices, provides close support, financial appraisal and analysis to support the decision-making.
* To co-ordinate with the Finance team to provide effective monthly, quarterly and annual forecasting and carry out feasibility studies for new projects. To conduct business reviews to evaluate the performance against forecasts.


* To review, on an ongoing basis, the insurance coverage of the Division's operations, assets and interests and ensure that risks have been properly assessed and hedged. To streamline and monitor the process for raising and settlement of claims.

Commercial Support

* Provide analytical support to Finance Manager in inbound and outbound pricing strategies.
* Evaluates tenders and bids highlighting the financial implications of proposals under consideration with the support of Cost Sheets appraisal & approval, pricing, margin management etc.
* Support review of procurement process from Group companies / analysis and control.
* Streamline vendor selection, evaluate vendor quotations and make recommendations
* To ensure PO's raised in SAP are per terms & conditions agreed and to make a periodical review of open PO's in the system.
* Certification of vendor's invoices for payment & submission to head office.
* To support and advise Finance Manager in Capex and Project evaluation and recommendation and prepare feasibility reports.

Working Capital and Cash flow

* Review and advise Finance Manager in Inventory and Order planning by analyzing historical data and validating underlying assumptions.
* Review and Monitor Branch/Country level overdue and follow-up with the team for corrective actions.

Invoicing and Collections

* The job holder is responsible for managing all necessary documentation required for invoicing & collection with all customers duly completed in all respects.
* To co-ordinate with the head office to ensure payments & collections.
* To ensure that all invoices are raised as per contracts and on timely completion of projects.
* Manage all necessary documentation required for invoicing & collection with all customers duly completed in all respects.

Management Information Analysis & Reporting

* The job-holder reviews and analyses variances against budget and business objectives.  He provides a commercial interpretation of financial data and where appropriate suggests and implements remedial action.
* In addition to providing routine management reports the job holder identifies critical areas within the operation which are monitored and where appropriate reported.  He highlights in a timely manner areas of potential threat and opportunity.
* To provide timely insight into operational performance through operational reports and dashboards. To ensure timely advice on variances, trends and corrective action to be taken.

Requirements

To be successfully considered for the above position, candidates will possess the following attributes, knowledge and competencies:

* Internationally recognized accountancy qualification.
* 10 years overall experience in same field.
* Retail and Electronics business process, accounting and PC skills.
* KPI driven customer focused operation.
* Have the ability to lead change processes.
* Provide financial leadership.

About the Company

Established in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt.

The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Groups continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery.

The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Groups belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility.