Job description / Role
Important Information This position is for a subsidiary company of Air Arabia group.
* Manage, monitor and control Company’s financial accounts and records ensuring cost, expenditure & revenue transactions are accounted for in compliance with company policies, procedures and approved accounting standards.
* Prepares budgets, financial reports and financial analysis; interacts with internal and external parties such as banks, auditors and suppliers to facilitate decisions or resolve function-related matters.
Key Result Responsibilities
* Manages and monitors the company’s accounts for both cost and revenue transactions this includes: general ledgers, subsidiary ledgers, suspense accounts, etc., ensures all entries are timely reflected, verified, and recorded in the corresponding accounts and Finance systems.
* Supports the management in the decision-making process related the Cash-Flow distribution and management based on valid estimates and forecasting.
* Provides cash forecasts and manages cash planning to optimise cash flow.
* Oversees and daily manages the “Cash” and “Bank” Accounts ensuring receivables, payables and reconciliations are executed on time and as per adopted procedures; maintains an up-to-date tracking and full control over the funds available at the respective banks to achieve maximum utilization.
* Monitors the lease and sublease agreements, service level agreements and other costs resulting from contracts in terms of claims and credits.
* Coordinates with internal departments and external suppliers to ensure claims are timely settled.
* Ensures the efficient preparation of the monthly, quarterly, and annual reports for financial controls and auditors in line with business requirements and company’s financial policies; updates the management with status regularly.
* Manages and monitors the company’s revenue obtained from all sources ensuring timely and accurate processing and book-keeping of all debit and credit transactions through prompt invoicing sent to customers for collection and deposits of payments received from Agents.
* Manages/ monitors the company’s revenue obtained from credit cards and ancillaries payments ensuring all are timely and accurately reflected and recorded in the corresponding accounts and Finance systems.
* Coordinates with internal and external auditors on schedules to facilitate their audit reviews and ensure smooth inspection as per adopted procedures.
* Implements corrective measures based on findings when and as necessary. Manages all the schedules required for statutory compliances.
* Processes and follows up on the Tax related areas required by the company ensuring timeliness and accuracy in processing and recording all transactions such as payments, returns, retention and reporting as well as compliance with the requirements and regulations.
* Partners with other departments to coordinate the financial planning, budgeting, and procurement activities.
* Facilitates the budget amendments & submission and monitors budget utilization to ensure effective cost control through accurate analysis of shortages and surpluses to the budget; applies resolutions on variances identified in coordination with Head of Finance/ Department Managers.
* Manages the skills and performance of the “Team” with focus on knowledge sharing, process improvement as well as career enhancement.
* Motivates, coaches, mentors and monitors the overall performance of the team members to achieve high standards in delivering results.
* Set objectives and identify KPIs for the respective team members; ensures his/her subordinates are fully aware and knowledgeable of their targets
* Ensures the respective available resources such as manpower, systems, tools and procedures are properly managed/utilized to achieve optimal productivity in line with company’s financial objectives.
* Supports & implements system enhancements.
* Consolidates and submits function related reports such as the MIS reports from all regions, to be presented to Management on regular basis.
* Manages and overseas all other administrative tasks as required for Cosmo Saudi.
* Performs any additional responsibilities and delivers other adhoc projects as directed by Head of Finance.
Qualifications (Academic, training, languages)
* Bachelor’s degree in accounting / Finance/Commerce or equivalent from a recognized university; alternately a related degree combined with required experience and exposure is acceptable.
* CA (Chartered Accountant) or CPA (Certified Public Accountant) certificates are preferable.
* Proficient in Microsoft Office- Advanced Excel, Access, Word, Power Point skills, Internet and Web Search.
* Cost Control, Compliance, Budgeting and Auditing certificates and trainings are an added value, and some may be treated as conditional for this role.
* Very good communication skills.
* Fluent in English Languages & atleast basic understanding of Arabic is beneficial.
* 7+ years of similar experience in corporate finance/accounting in Travel / Tourism/ Airline Industry for a mid-size organization operating on regional or multinational level; a minimum of 3 years at least in a similar managerial/ supervisory role.
* Local experience working in Saudi Arabia is compulsory.
* Experience and knowledge of country regulations and standards with respect to financial & tax accounting and reporting is a must.
* Sound knowledge in financial control and accounting fundamentals such as SFAS (Statements of Financial Accounting Concepts), accounting procedures, systems and process flow is a pre-requisite.
* Strong math and numerical reasoning ability and high accuracy are mandatory for this role.
* Familiar with formalities and pre-requisites associated with internal and external audits.
* Has worked on preparing budgets and monitoring expenditure in line with agreed targets.
* Cost-oriented, possesses effective negotiation and problem-solving skills.
* Experienced in a computerized accounting environment with exposure on financial models and new technologies.
* Ability to: produce, interpret, assimilate data and express ideas and concepts clearly.
* Experienced in measuring team’s performance against policies, procedures, business needs, and in line with adopted regulations and approved standards.
About the Company
Air Arabia (PJSC), listed on the Dubai Financial Market, is the Middle East and North Africa's first and leading low-cost carrier flying to over 100 destinations across the world. Air Arabia was the first airline to introduce the low-cost carrier concept in the region and is on a mission to serve all Arab countries and beyond, constantly undergoing aggressive route expansion, taking advantage of its ideally located hubs in the United Arab Emirates, Morocco, Egypt and Jordan. Over the past thirteen years, Air Arabia, through continuous market research and customer feedback, provides a range of value added services to millions of passengers who chose to fly with Air Arabia's fleet of A320 aircraft. The airline commenced operations in October 2003 and achieved financial break-even from its very first year of services and has been profitable ever since.