Job Role : Finance Manager
Purpose of the job :
The Finance Manager is responsible for managing all day-to-day Finance matters inclusive accounting, treasury, business control, internal control and other finance day-to-day activities for the Mirfa Project.
The Finance Manager assists the Chief Financial Officer in various Project Finance and Corporate Governance matters. The position covers Owner and O&M dimensions of the project.
Scope of the job :
Entities : MIPCO (main entity), M Power O&M Power Company, Mirfa Shared Facilities Company
Accounting : ensuring proper development and maintenance of the Company’s accounting and reporting systems, smooth closing process, compliance with IFRS rules in line with shareholders’ respective accounting policies.
Ensuring that all accounting and other related administrative records of the Companies are maintained properly. Produce periodical valuation of the Company’s inventories in compliance with International Accounting Standards and Company Policies.
Business Control : timely and accurately producing reports for management, lenders, shareholders and authorities on a periodical basis, with production of variance analyses on a monthly basis.
Production of periodical financial statements. Liaise with auditors. Participate actively into the production of the Budget of the Company by interacting with the different departments.
Involvement in the procurement process.
Internal Control : defining and implementing set of Finance Policies & Procedures. Developing adequate Internal Control environment and ensuring compliance with Company’s set of Policies and Procedures.
Continuous improvement of MIPCO IT systems.
Treasury : cash management, payments, cash projections, monthly drawdown in compliance with Finance Documents. Bank day-to-day management.
Other ad hoc tasks on request of Chief Financial Officer
Health, Safety, Environmental & Quality Management :
Committed to ensuring a safe working environment for colleagues and contractor staff.
Points out any unsafe conditions or unsafe act to the HSE Security Officer.
Contributes to the achievement of safety and environmental objectives by providing leadership in the areas of safe working practices and housekeeping.
Emergency planning and preparation;
Cleanliness and safety of operational areas;
Financial objectives and KPI’s :
Ensuring that requirements of Company Law and other local directives and regulations are being fulfilled
Ensuring the compliance of the Companies with shareholders’ Finance and Accounting policies and reporting requirements.
Ensuring compliance with Company’s internal rules and guidelines.
Timely reporting to management, shareholders and authorities on periodical basis, including variance analyses on monthly basis.
Finalizing quarterly (when applicable), half-yearly and yearly financial statements of the companies and workings / schedules relating to financial statements.
Supervising the work carried out by staff of Accounting Department and Reporting Manager (when applicable). Checking and reviewing accounting record for accuracy and completeness.
Ensuring that accounting and other related administrative records of the Company is maintained properly.
Timely submission of VAT and other Tax filings and payments
Being accountable for the set-up and update of the forecasting model, including monthly rolling forecast, Budget and Medium-Term plans.
Being accountable for the Team Management (incl. skills development, training, supervision).
Treasury management : cash projections, financing requirements (drawdown request preparation, working capital facility drawdown), loan repayments, deposits,
Contributing actively to the improvement of the processes and organization of the work.
Ensuring proper maintenance and development of Company’s accounting and reporting systems.
Supporting the Chief Financial Officer on all Finance, Corporate Governance and other ad hoc matters.
Financial planning :
Respect of timelines.
Challenge operations for all matters impacting Finance aspects.
Anticipate and quantify (simulations). Advice Executive Management.
Being accountable for cash management and short-term cash flow forecast.
Prepare annual Budget, forecast and long-term planning.
Monitor and report :
Being informed about Operations, Administration, legal and Corporate Governance evolution.
Being accountable for the Financial reporting to the Executive Management and to shareholders Finance organizations.
Monitoring the Financial / Fiscal risks of the Business.
Audit and Control :
Responsible for various audits of the companies and to liaise with auditors and the Internal Control Officer.
Compliance with all relevant applicable laws, Directives and project documents;
Compliance with the appropriate corporate Policies and Procedures; and,
Compliance with corporate internal controls.
Human Resources :
Directs, controls, guides, coaches and develops the subordinates and staff in the department to ensure that they are motivated and trained to carry out their responsibilities to the required standard.
Transfer, recruitment, training and development of the O&M staff;
Emiratization specifically the development of Emiratis within O&M;
Performance management and appraisal
Outcome, Results and Key Performance Indicators :
Compliance with IFRS and Shareholders’ Accounting Policies
Production of timely and accurate managerial reports and statements.
Implementation and continuous improvements of management systems, policies and procedures (internal control)
Compliance to policies and procedures, internal control and ethics
Positive attitude, working in autonomy, decision-maker, focus on results
Achieve / maintain ISO 9001
Graduate degree in economics, accounting, finance, business administration or equivalent.
Qualified Accountant from an internationally recognized institution (ACCA, )
Any complementary qualification is a plus.
Knowledge and skills :
Strong accounting background : accounting standards (IFRS), systems, controls
Excellent aptitudes in Business Control : reporting, planning
Treasury concepts : cash management, cash flow projections
Knowledge of UAE or ME working practices : vat, custom duties
Good understanding of Project Finance concepts (Facilities, covenants, )
IWPP sector : key contractual arrangements, power plant basic technical understanding
Proficient in Microsoft Excel (Financial modelling), PowerPoint and databases.
Fluent in English. Knowledge of Arabic is a plus.
Strong interpersonal, organizational and analytical skills
Excellent verbal and written communication.
Self-directing, ability to coordinate and direct others. Problem-solving
Systems / Procedures / Controls driven mindset
Able to manage a team within tight deadlines, heavy workload and ability to deliver.
Able and willing to work efficiently in a global, culturally diverse and changing environment.
Minimum 8 years of experience in finance, accounting and / or controlling, in an equivalent position. Experience as Audit Manager is a plus.
Understanding and experience in the Power Sector
Understanding a shareholder environment / organization is a plus
Behavioral Capabilities :
Good command of the English language.
Excellent verbal and written communication skills.
Ability to interact with all levels of management and employees.
Strong analytical skills.
A good listener with the ability to provide constructive feedback.
Fair and consistent in dealing with people.
Works collaboratively with colleagues to achieve organizational goals.
Generates ideas and solutions to overcome problems and improve performance
Builds relationships with key stakeholders
Promotes team working with colleagues to maximize performance
Identifies and develops talent within the team
Clear and confident communicator
Commitment to delivering results