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Financial Controller

LITASCO Middle East DMCC

Dubai, UAE

Ref: OP552-04

Job description / Role

The primary responsibility of the Financial Controller is to maintain the company’s accounting records and prepare financial reports. This position involves supervision over general accounting, trade accounting, cost accounting, and closing of the month procedures as well as any other related accounting responsibilities.

Job Purpose

Closing of the month and Reporting:
• Oversight and monitoring over general and trade accounting function;
• Monthly closing procedures in SAP;
• Development, analysis and interpretation of accounting information in order to appraise operating results in terms of profitability, performance against budget, comments on periodic performances, management discussion and analysis;
• Preparation and regular control over the monthly/quarterly/yearly reporting under IFRS and timely reporting to the Head Office;
• Reconciliation of intercompany positions with other Group units and external counterparties;
• Researching and reporting on factors influencing business performance and ad hoc analytical reviews of trades and flows, financial position in the areas of income, expenses, and earnings.
• Monthly PL reconciliation, Management reporting and internal trading system;
• Preparation of presentation materials to different level of corporate bodies;
• Review and control receivables ageing reports on a weekly basis to determine the status of collections and the amounts of outstanding balances;
• Responsible for internal/external audits, preparation of the information for the audits;
• Reconciliation of bank accounts to the bank statements;
• VAT reporting to FTA;
• Back up to the finance team

General Accounting:
• General accounting of the administrative expenses; registration of the utility bills, office expenses, expense reports, petty cash accounting, rebilling of the administrative costs in the accounting system and filing on day-to-day basis; Issuance of debit/credit notes to counterparties when necessary;
• Derivatives transactions (futures, swaps, OTC) verification and posting (DBO);

Trade Accounting (back up assistance to the Trade Accountant):
• Gather, analyze and assort various supporting documents, communicate with Operations and Trading desks;
• Input data into ETRM module in a timely and accurate manner in order to create purchase and sales orders, good movements and cost accruals of the commodities with correct allocation to appropriate trade deals in ETRM;
• Responsible for registering of the incoming invoices of physical goods and services;
• Be in charge of commercial invoices preparation in the ETRM for the crude oil and petroleum products, services and demurrages, etc.
• Monitor the stock movement of the commodities and posting related entries into the SAP accounting system;

Ad-hoc tasks:
• Assist the team in various additional ad hoc tasks such as KYC process, tender preparation, contracts review, etc.

Requirements

• A University degree in Accounting or Finance
• CPA or CA/Chartered Accountant designation
• At least 5 years of professional experience in a similar role within a large, medium-sized company or an external audit company;
• Experience in oil & gas commodity trading is a plus;
• Knowledge of IFRS is a must;
• Experience in SAP R3 (knowledge of FI, MM, CO and other modules);
• Advanced Microsoft Excel skills;
• Accuracy and strong attention to detail;
• Ability to act and operate independently with minimal daily direction from manager to accomplish objectives;
• Ability to work cooperatively and collaboratively with all levels of employees, management, and external agencies to maximize performance, creativity, problem solving, and results;
• Excellent written and oral English communication. Other languages are a plus.

About the Company

LITASCO was founded in 2000 in Switzerland and it is the exclusive international marketing and trading company of LUKOIL Oil Company.

With head office in Geneva, LITASCO Group has established additional trading and business development offices worldwide, extending its reach around the world from the United States to Europe, the Middle East and Asia, managing LUKOIL's global crude oil and petroleum products supply, marketing and trading needs.

LITASCO has affiliates in Germany, Kazakhstan, Singapore, Sweden, the United Arab Emirates, the United States of America, the Netherlands as well as representative offices in China in Russia, in India and in Iraq.

LITASCO Group is one of the world's major traders of crude oil and refined petroleum products and deals with a vast range of suppliers and customers, including all of the world's major oil corporations.

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