Finance Manager Job Dammam area,Eastern Province Saudi Arabia,Finance & Banking

Job Purpose

To manage, monitor and control the company's financial accounts and records ensuring cost, expenditure & revenue are within the right mechanism, all carried in compliance with Air Arabia policies, procedures and approved accounting standards.

Prepares budgets, financial reports and financial analysis; interacts with internal and external parties such as banks, auditors, GSAs, GHAs and suppliers to facilitate decisions or resolve function-related matters.

Key Result Responsibilities

Manages and monitors the company's accounts 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.

Monitors and analyzes the market movements and exchange rates to efficiently manage the company's foreign currency transactions and provide management with advice on exchange rates in all countries of operation that best suit its financial goals.

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.

Oversees the monthly and annual accounts movements and activities such as accruals, assets, and advanced payments, lease and sublease, end of service, etc.

Monitors the technical costs, 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.

Partners with stakeholders to supervise and follow up on all the Engineering & Maintenance technical costs of Air Arabia and Third-Party customers ensuring timeliness and accuracy in executing and recording all related transactions and ensuring they are reflected in monthly statements accordingly.

Key Result Responsibilities - Continued

Ensures the efficient preparation of the monthly, quarterly, and annual reports for financial controls and auditors ; updates the management with status regularly.

Facilitates and monitors the preparation of Security Deposits processed for the aircrafts; follows up with suppliers and lessors for confirmations.

Manages and monitors the company's revenue obtained from cargo, courier services, credit cards and ancillaries ensuring timely and accurate processing and recording in the corresponding accounts and Finance systems.

Monitors debit and credit transactions of all customers' invoicing and deposits done through the GSAs and Agents.

Partners with Stakeholders to optimize credit card revenue and resolve system related issues based on given scenarios and business cases. Ensures consistency of ancillary's payments received from interline partners, Duty-Free and insurance with sales reports and agreed terms and conditions.

Supports the Management in the decision-making process through providing valid recommendations and risk evaluation of the revenue related business cases.

Facilitates audit checks ensuring smooth inspections and compliance with audit requirements. Implements corrective measures 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 in countries of operation ensuring efficiency in processing and recording of all transactions.

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 Arabic and English Languages.

Work Experience

7+ years of similar experience in corporate finance/accounting in Airlines Industry for a company operating on regional or multinational level; a minimum of 3 years at least handling cost areas related to Engineering and Maintenance sections; experience with low cost airline is an advantage.
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.
Thorough knowledge in aircrafts engineering and maintenance systems and processes.
Strong math and numerical reasoning ability and high accuracy are mandatory…


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