Summary
Gulf Air Group is seeking a Manager, Financial Control for its assigned division at its headquarters in Bahrain. The role oversees budgeting, forecasting, financial reporting and closing, cost control, procurement and contract reviews, and financial governance. The successful candidate needs a degree in accounting, finance, economics, commerce or a related field and at least 6 years of relevant experience. Familiarity with Gulf Air’s core financial system is required; CPA, CMA, ACCA or CIMA qualifications are an advantage.
The posting
As published on gulfairgroup.com. Pulled from the employer's site and shown as they wrote it.
JOB PURPOSE
The jobholder is responsible for all budgeting, cost accounting, and financial and economic matters of his/her assigned Division.
As such he/she will monitor the performance of the Division including control and support in areas of budgeting, reporting, cost accounting, financial account, agreement supervision and other economic matters.
The person will ensure compliance with standards as mentioned in the financial manual as also with regulatory requirements. Will also ensure long term economic merit is the prime consideration in decision-making and negotiations
KEY RESPONSIBILITIES
Budgeting and Forecasting
Provide full financial support to the Division throughout the annual budgeting process.
Provide financial guidance and support to business units in preparing their budgets.
Review budget submissions for completeness, reasonableness and compliance with budget guidelines.
Support business units with forecasts and financial projections when required.
Consolidate and coordinate budget information with the Budget Office.
Financial Reporting and Closing
Ensure month-end and year-end closing activities are completed accurately and on time.
Review and coordinate accruals, provisions, reclassifications and other closing adjustments.
Review General Ledger balances and identify unusual or unexplained movements.
Ensure transactions are recorded in the appropriate accounts, cost centers and accounting periods.
Ensure financial records comply with Company policies and applicable accounting standards.
Coordinate resolution of accounting discrepancies with the relevant departments.
Cost Control and Financial Analysis
Monitor expenditure against approved budgets.
Analyze significant cost variances and support the Division in understanding the reasons for those variances.
Identify opportunities for cost reduction and operational efficiency.
Support cost-benefit and efficiency assessments.
Procurement and Contract Controls
Participate in procurement processes by reviewing the reasonableness of tender estimates and providing financial input, as required.
Participate in tender evaluations, including the commercial and financial evaluation of bids and proposals.
Review contracts from a financial perspective and provide the necessary financial input.
Review and update Contract Approval Forms in a timely manner to facilitate the required approvals and avoid delays in the procurement and contracting process.
Internal Controls and Financial Governance
Review financial processes and controls within the assigned Division.
Ensure compliance with financial policies, procedures and delegated authorities.
Identify control weaknesses where possible and recommend appropriate improvements.
Support implementation of corrective actions arising from audits (Internal and External) or control reviews
EDUCATION / QUALIFICATIONS
University degree or equivalent qualifications in Accounting, Finance, Economics, Commerce or a related field.
Professional accounting qualifications (CPA, CMA, ACCA or CIMA) would be an added advantage
EXPERIENCE
Minimum 6 years of relevant experience.
Familiarity with Gulf Air’s core financial system is required