Finance Manager

Recruiter
Business Machines Company
Location
Al Kuwait, Kuwait
Salary
Competitive salary
Posted
24 Aug 2020
Closes
21 Oct 2020
Ref
4214946
Job role
Finance manager
Experience level
Manager
• Develop and ensure the implementation of the Finance strategy in line with BMC’s business directions.
• Direct and implement BMC’s Finance strategy and annual Finance business plans.
• Approve BMC’s overall budget, ensuring that adequate provision is made for all activities, monitor and control expenditure against approved budget and reconcile budget variances to ensure on-target performance against budgets.
• Review and authorize capital plans and budgets to ensure that plans are realistic, strive to capitalize upon opportunities and are consistent with the long-term strategy.
• Develop and ensure the implementation of the Finance Department’s established policies and procedures and ensure their alignment to overall business objectives.
• Administer prompt, fair and consistent corrective action for all violations of company policies, rules and procedures & financial systems to ensure efficiency.
• Manage accounting activities, cash and processing payments to achieve the Finance department’s objectives and ensure that the financial transactions are performed and managed accurately.
• Manage the maintenance of General Ledger to ensure that all transactions are properly recorded.
• Ensure that the financial statements and books of accounts of BMC are prepared timely and accurately and in line with Company accounting policies and schedules and international accounting standards.
• Manage the company petty cash system to ensure it is correctly operated and regularly balanced and reconciled to the appropriate balance sheet account.
• Review financial controls such as cycle counts, stock counts and fixed asset checks in support of external and internal audits in partnership with the Controllers, ensuring processes are well controlled and delivered in a timely manner and according to requirements.
• Oversee the preparation of reports for management accounting ensuring the accuracy of work.
• Ensure the correct revenue is recognized each month in the accounts on jobs and that the client advance billing account is regularly reconciled.
• Ensure preparation of BMC consolidated financial statements, special analysis and information report in a timely and accurate manner.
• Manage the performance of the financial ERP system and recommend for suitable enhancements to the same, depending on changing needs of the organization.
• Follow-up and maintenance of all records, data, systems containing financial transaction data and their audit.
• Ensure accurate monthly management accounts are available to management, reporting against budgets/ forecasts and the previous year, together with full variance analysis.
• Liaise and ensure that external auditors are provided with relevant financial information in order to properly complete the external audit.
• Oversee verification of contract documentation to ensure clarity of payment terms and other financial terms are in line with business objectives.
• Drive inventory governance through adherence to global policy, standardization of inventory processes and automation.
• Help drive automation in the inventory function by advancing technologies and functionality enhancements, such as future projections, general ledger automation, help drive implementation of a tool for identification of “at-risk” inventory.

• Oversee the monthly consolidation of BMC inventory and assist with the preparation of reports and analysis necessary for the month-end close, including assessment of overall balance, analysis of deferred margin in relation to inventory on hand and impact of exchange.
• Perform other duties related to the job as assigned by the Direct Manager.
• Manage inputs and recommend action to be taken when there are weaknesses in internal controls or compliance issue with set policies and procedures.
• Monitor the Department’s employee’s performance and provide the required direction to maximize their performance in order to achieve Individual & departmental objectives.
• Recommend salary adjustments, rewards and promotions based on the employees’ performance appraisal.
• Ensure the training needs of employees are identified and recommend relevant training initiatives that will assist in building a highly professional and knowledgeable workforce.
• Manage the preparation of the daily and monthly financial reports, showing key performance indicators, trends, and comments on budget variations, relevant outside information, risks and areas that require management attention.
• Ensure that all reports are accurate and being prepared on time and all financial data are updated on the system.