Financial Controller

Job Title: Financial Controller

Reports to: Group Sr Finance Director

Department: Finance

Function: Finance and Accounting

JOB PURPOSE:

Managing Kuwait market financial activities. Providing guidance and presenting accountability for meeting the desired goals of financial management, financial reporting, and financial control. Planning, managing, and overseeing the activities, operations, and resources, and providing support to the staff to enable generating accurate and timely financial information.

KEY ACCOUNTABILITIES:

Strategy

• Develops the strategy for operating and financing activities of the finance and accounting department of the company entity in Kuwait, in line with the head office finance and accounting strategy to ensure vertical alignment. Establish horizontal integration with other interfacing departmental strategies across management
• KPI: The strategy is aligned with the Company's and departments' strategy. The strategy is documented, approved, communicated and implemented.
  

Budget

• Champions the preparation of company- Kuwait budget, recommends to management changes to the budget and liaise with the head office for approving the budget. Monitors financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance are identified, and potential areas of cost reduction or performance improvement opportunities are exploited.
• KPI: Financial variance versus budget.
  

Leadership

• Manages the effective achievement of the departmental objectives through leading the team towards common goals. Guides oneself and team members on setting individual objectives, and subsequently managing performance, putting development plans and motivating team members on achieving their potential. Provision of formal and informal feedback and appraisal in order to maximize subordinate and departmental performance.
• Individual objectives, training and development plans are in place for all direct reports within the timescales defined by the head office Management.
• KPI: Frequency of feedback & appraisal meetings.
  

Change Management

• Oversees the management of change through continuous improvement of departmental systems, processes and practices taking into account international best practice, changes in international standards and changes in the business environment which demand proactive action plans.
• Number and quality of improvements are in line with top management expectations and implemented.
  

Job Related Tasks / Duties and Responsibilities:

• Develops and forecasts budgets for the company in Kuwait and collaboration with business units and under direction of General Manager. Group MD and Group FD.
• Implements finance and accounting policies and procedures.
• Revises finance and accounting policies and procedures based on change in business transactions, standards update or feedback from auditors.
• Determines effect of potential business decisions on financial performance.
• Collaborates as company representative with business partners, such as banks, ERP providers, suppliers, auditors and other service providers.
• Coordinates with banks if needed to execute trade finance arrangements. Oversee that supporting documents for such transactions are complete and accurate.
• Cooperates with business units and support functions across company.
• Ensures prompt and accurate month-end and year-end close processes.
• Prepares timely financial statements.
• Reports variances and liaise with business units and support functions to analyze the variances and agree on corrective actions.
• Oversees accounting operations such as accounts payable, accounts receivable, revenue recognition, costs recognition, inventory and general ledger entries.
• Ensures compliance with company and statutory requirements. Stay up to date with possible developments in areas of VAT, excise tax, withholding tax and Zakat.
• KPI: Accuracy of financial reporting
• KPI: Timeliness of financial reporting
  

COMMUNICATIONS & WORKING RELATIONSHIPS (Illustrative not exhaustive):

Internal All Functions Within The Company As Needed

External: Banks, Suppliers, Customers, Auditors, Consultants, Investors, Tax Authorities

QUALIFICATIONS, EXPERIENCE, & SKILLS:

QUALIFICATIONS:

• Bachelors in Accounting or Finance
• Professional qualifications from a recognized body is a plus (CPA, ACCA, CMA, DipIFR)
  

EXPERIENCE:

• (9) years of experience among which at least (2) years in a supervisory/managerial position
• Experience in a distribution company
  

SKILLS:

• Microsoft office Excel and PowerPoint
• ERP solutions
• Administration Skills
• Business Understanding Skills
• Communication Skills
• BEHAVIOURAL COMPETENCIES:
• Initiative & Drive for results
• Change & Innovation
• Communication & Influence
• Developing & Empowering others
• Problem solving & Decision Making
• Planning & Organizing
• Collaboration & Team work
  

FUNCTIONAL COMPETENCIES:

• Department Performance Management
• Risk Analysis & Management