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Assistant Finance Controller ? Automotive

1.00 to 10.00 Years   Al Kuwait, Kuwait   20 Jan, 2025
Alert International
10 to 49 Jobs Openings
Job LocationAl Kuwait, Kuwait
EducationNot Mentioned
SalaryNot Mentioned
IndustryRecruitment & Employee Placement Agency
Functional AreaNot Mentioned

Job Description

DescriptionIn this role, you will be responsible for supporting the financial management and operations of the company, working under the guidance of the Finance Controller.

  • Accounts Closing & Financial Preparation
  • Ensure accounting accuracy with adequate validation and checks.
  • Preparation of statutory financials every quarter for all entities in BU.
  • Ensure intercompany reconciliations are completed every month and balances confirmed with counter party.
  • Ensure BRS is completed every month, and no open item remains beyond the last week of the month.
  • Ensure year end statutory financials are prepared in compliance with applicable
  • Accounting Standards, reviewed for accuracy and submitted to Statutory Auditors with all necessary supporting information and sign off within prescribed timelines.
  • Ensure all queries & additional information requested by Statutory Auditors are submitted and closed within set timelines.
  • Ensure provisions are analyzed and reviewed for adequacy on a monthly basis.
  • Ensure adequate CAPEX control exists in the BU. Additions are processed in
  • compliance with policy with necessary justification, comparative quotes etc. Assets are periodically verified, tagged and variances reported, adjustments made with appropriate approvals.
  • Ensure financial systems/ modules (ERP, EPM, SAP, CDK etc.) are adequately configured with necessary control and validation checks.
  • Receivables & Payables Control
  • Receivables
  • Ensure appropriate Receivables monitoring & collection process exists in BU.
  • Adherence to Group Credit Control policy.
  • Ensure necessary documentation is in place to facilitate recovery of dues in case of legal action.
  • Exchange of monthly statements and quarterly balance confirmation with customers.
  • Dues to be collected within approved credit period.
  • Ensure adequate provision is created as per Group policy, also compared with ECL method as per IFRS 9 and maintain whichever is higher.
  • Payables
  • Ensure appropriate procure to pay process in place.
  • Vendor credit terms are periodically reviewed.
  • Vendor balances are reconciled monthly and balance confirmations obtained quarterly.
  • Cash flow Management
  • Ensure effective planning and execution to have positive cash flows month-over-month
  • Ensure no idle cash remains in the Business by resorting to,
  • repay loan if any and/ or
  • invest in FD
  • Major unexpected collections and payments to be immediately informed to GT for effective cash management.
  • Overhead Control
  • Extend complete support to GIA initiatives & verifications.
  • Ensure all compliance /responses coordinated with respective stake holders and submitted within stipulated timelines.
  • Escalate overdue High Risk open items on priority for resolution and co-ordinate for timely closure.
  • All action items assigned to Business stakeholders are followed up and closed within the agreed timeline.

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