Chief Accountant

Octal Petrochemicals
Salalah, Oman

Ref: GP871-07

Octal Petrochemicals

The Role

The Chief Accountant’s main objective is to ensure that Octal’s financial statements reflect the fair value of the company as defined by International Financial Reporting Standards and that business risks are identified and monitored. This position is also in a management capacity to supervise accounting professionals and support staff to ensure accomplishment of assigned functions of the department.

Essential Functions

The Chief Accountant is responsible for the following operational and technical aspects within the Accounting Department:

•Plans, organizes and implements accounting operations and objectives: team work within the department, tasks sharing, work methodologies, deliverables definition and time schedules.
• Responsible for knowing critical functions within the department and capable of mentoring and assisting employees within the department.
• Book keeping: the CA makes sure all transactions are booked on time (on a daily basis for business transactions, on a monthly basis for non-continuous or one shot or extraordinary transactions) and in accordance with IAS requirements.
• Closing: Books (balance sheet + P&L) are closed every month at D+3 (3 working days after month end), in accordance with IAS requirements.
• Audit: General organization and relation with the auditors. The CA prepares the financial statements thoroughly enough so that there is no adjustment with impact on net equity required by the auditors.
• Tax: Compliance with Omani rules (withholding tax, observance of free zone rules), relation with tax authorities, Compliance with other countries regulations (USA for Octal Inc. for instance).
• Legal: CA makes sure all legal documentation with impact or potential impact on financial statements is kept at Salalah, he supervises filing. Corporate controller informs the CA of all pending negotiations (contracts, agreements…) and reviews documents before they are signed.
• Project controlling: defines general procurement policy and controls, reviews tender documents and contracts, checks project monthly progress and reports deviance versus budget, prepares a rolling end of project costs reforecast on a monthly basis, manages supplier relationship when needed.
• Systems: In the case of any new system implementation, the CA ensures general cross function consistency.
• Internal controls and procedures: Assists the HOA with Octal’s procedure handbook in the accounting field (setting-up, writing and up-dating procedures).

Organizational Relationship

The Chief Accountant reports and receives instructions from the Head of Accounting.

Requirements

Knowledge, Skills & Experience

• Certified Chartered Accountant
• 3-4 years’ experience in auditing
• Experience in team management
• Excellent knowledge of International Financial Reporting Standards
• Good knowledge of international trade rules & regulations
• Good knowledge of tax rules and regulations in the countries where Octal is operating
• Good knowledge of customs rules and regulations in the countries where Octal is operating
• Good knowledge of IT systems, ERP and financial applications
• Experience with SAP a plus

About the Company

Established in 2006 to meet the accelerating demand for PET sheet and PET resin, OCTAL has emerged as the largest PET resin manufacturer in the Middle East and the largest integrated PET sheet manufacturer in the world. Strategically located in the port city of Salalah on the southern coast of the Sultanate of Oman, OCTAL is well positioned to meet customer requirements from production to delivery.

At OCTAL, we take innovation to its highest level, setting the standard in PET packaging with our patented technology and proprietary processes. Through applying the most advanced technologies, OCTAL has set new global benchmarks for both product and environmental excellence.