KAC181129121121 - Expert – Financial Accounting

Organization: Kuwait Airways Job: Expert – Financial Accounting
Division: Finance Employment Type: Full Time - Permanent
Last date of application: 2018-12-15 Country: Kuwait,


Job Description:

1) Basic Function and Scope:
  • To compile Kuwait Airlines Company's (KAC) interim and annual financial statement in accordance with IFRS for review by Senior Manager
  • To ensure quality in financial accounting through a process of GL review and reconciliation
  • Facilitate system implementation in Finance Department.
2) Work Performed: •       Quality of Financial Information
    • Compile Financial statement accurately in accordance with IFRS within the target dates set by Management. Towards that end, manage the monthly, quarterly and annual month closing of   accounts to ensure that the accounts are complete and accurate.  Define and implement adequate quality checks to highlight distortion in GL balances.  Influence and assist staff in the various financial accounting sections to take remedial action which requires to adhere to the disciplines of the Chart of Accounts (COA).
    • Ensure COA disciplines to be followed by all departments/ sections to ensure uniformity and quality of accounting. This involves specifying reconciliation disciplines to be followed, specifying       and testing interface controls from various feeder system to GL and drawing up / revising the flow of accounting entries to be followed.
    • Follow up and review the quality of information received from group companies for consolidation.
    • Define and implement the reconciliation disciplines to be followed by various Finance sections. This will entail specifying the responsibility, objective, timing format and the detail to which        reconciliations are drawn up.  Manage the reconciliation of the GL nominals under your responsibility as well as review the quality of the reconciliations performed by other sections to ensure        they are performed efficiently, accurately and timely.
  • Liaise with external, internal and Government auditors to ensure that queries are responded to promptly and with adequate explanation. Co-ordinate with various sections to ensure delivery of schedules, information & explanation as per the deadlines of the audit timetable.  All schedules are checked/ scrutinised prior to handing over to auditors.
  • Carry out detailed analysis and evaluation of the impact of the changes to IFRS on KAC to support recommendations made by Finance department to Senior Management.
  • To support financial reporting at Outstations in accordance with local regulations and compliance requirements by providing / validating relevant financial reports / data
  • Manage the back-office function of the company’s fuel hedging program, including recording contracts, reconciling counter party statement of account, verifying independently the mark to market values and confirming the values receivable/ payable to counter parties as a result of settlement of contract.
  • Support the implementation and upgrade of any system in Finance sections to ensure deliverables in terms of quality and timeliness. Take responsibility for the quality of the end user system development specification and testing standards.
  • To analyse and summarise the financial performance of the group companies or any other entity required by the Management, based on their Financial statements and other available information
3) Work Contacts: Regular contact with all levels within Finance department and appropriate levels in other business units.  4) Independence of Operations: Works in directives provided by Senior Manager GL and generally guided by the corporate policies, Accounting standards and administrative orders.  Individual assignments may be broad in nature where the job holder is required to take initiative and use creative thinking in providing solutions. 5) Supervisory Responsibility: Supervises accounting staff reporting to this role.

Requirement:

  1. University degree in Accounting and Professional qualification such as CPA, CA •      
  2. 3 years’ experience in supervisory role preferably with Big 4 experience
  3. Good knowledge of Accounting standards and its application
  4. Analytical capabilities and ability to work towards set priorities and goals




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