KAC190709120746 - Finance Manager

Organization: Kuwait Airways Job: Finance Manager
Division: Finance Employment Type: Full Time - Permanent
Last date of application: 2019-07-23 Country: United States Of America,


Job Description:

  • Job Responsibilities     Accounting and Treasury:
  • Direct and oversee timely processing of all invoices and payments in strict adherence with company policies and procedures.
  • Manage the induction of new vendors and ensure compliance to OFAC regulations by sanctions screening these vendors before onboarding.
  • Maintain a vendor master file of all recurring payments with their payment’s terms.
  • Ensure an accurate and timely monthly, quarterly and year end close.
  • Manages the general accounting process including account reconciliations, month-end close procedures and accruals.
  • Review aging reports to identify issues and take appropriate action for debt collection.
  • Assist with preparation and evaluation of yearly budgets and conduct monthly analysis to identify any variances to actuals.
  • Coordinate day-to-day Treasury activities such as daily cash positioning, cash forecasting, liquidity planning and funds requirements.
  • Ensure sufficient funds are available to meet ongoing operational and capital requirements. 
  • Work with bank partners to ensure that services provided are meeting business needs.
  • Administer bank accounts including open/closing accounts, managing mandates related to authorize signatories.
  • Ensure that collections of whatever nature are deposited and transferred to KAC Corporate bank accounts in a timely manner as per HO guidelines.
  • Maximize repatriation of funds at the most beneficial exchange rates by partnering with Banks to negotiate when trading.
  • Assist in preparation and periodic review of the Finance functions process manual. 
  • Financial reporting and submissions:
  • Assist in preparation and review of the local financial statements in accordance with the country requirements wherever needed.
  • Ensure timely submission and filing of the Annual returns to the Registrar of Companies.
  • Review all financial statements for accuracy and completeness during month ends.  
  • Internal controls:         
  • Ensure that financial controls, processes, procedures and systems as defined by the Head Office Finance are in place and being adhered to.
  • Ensure compliance with OFAC regulations to prohibit dealings and transactions with sanctioned counties, entities and individuals.  
  •     Regulatory compliance and audits:
  • Ensure compliance with all local regulatory and tax legislation through frequent reinforcements and regular reviews.
  • Proactively communicate non-compliances and process deviations if any to Head Office finance.
  • Provide support to internal and external auditors and furnish evidences and required information to ensure quick resolution of audit queries.
  • Address audit observation and closing comments raised by internal and external auditors by coordinating responses through Head Office Finance.   
  • Communicate and collaborate:
  • Work with Head Office to establish goals and objectives for each year and monitor and advise on the progress.
  • Regularly communicate and educate all other departments within the country about internal processes and controls as well as statutory requirements.
  • Collaborate with other departments and business partners to bring in process improvements in order to gain efficiencies.
  • Provide guidance and support to Country Managers in order to develop their financial awareness, so that any financial risks at their stations are highlighted and timely addressed.
  • Partner with Head Office Finance to actively seek inputs and advise them on improvement opportunities with the objective to increase efficiencies.
  • Regularly support and apprise Head Office Finance of any changes in the tax reforms.
  • Proactively highlight to Head Office about any risks or process deviations and propose additional process controls for risk mitigation.  People management:
  • Develop, coach and motivate the team members across all regions into a cohesive work unit.
  • Facilitate appropriate training for the Finance Manager, Supervisors and key finance personnel at the stations in applicable systems, internal control procedures and statutory compliance matters so that they are able to achieve their objectives.
  • Provide performance related feedback during monthly 1 to 1 meetings and suggest development opportunities to address gaps, if any.
  • Manage the recruitment of key finance personnel at the station including selection of candidates, through participation in the interviews.
  •  

Requirement:

  • University degree in a finance or accounting discipline.
  • Should have visa status or qualify for work permit in USA
  • MBA or any other professional Accounting qualification preferred.
  • A minimum of 10 years accounting experience including experience of leading small to medium sized team.
  • Knowledge of airline accounting procedures preferred.


Skills:

  • Strong execution skills, analytical and problem solving skills.
  • Self-motivated, able to prioritize multiple tasks, work under strict deadlines and exhibit a team player attitude.
  • People Managers skills while providing the appropriate performance feedback to ensure career development and growth.
  • Experience with policy and procedure development and documentation.
  • Experience with local taxation laws and legal requirements.
  • Strong interpersonal skills and ability to communicate at all levels within the organization.
  • Proficient in Microsoft office; specifically, Excel and PowerPoint.



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