Finance Manager

Company Description

AL-SALAM S.P.C. is a leading air conditioning and electronics dealer based in the Capital Governorate, Bahrain. Established in 1978 by Mr. Mohsin AlBunni, AL-SALAM has become one of the largest specialized companies in the region, offering a wide range of products and services including air conditioning, home appliances, electronics, mobiles, satellites, distribution and piping of cooking gas, and maintenance and repair services. With a customer base of over 100,000 individuals and corporate customers, AL-SALAM is known for its competitive prices and exceptional customer support.

Role Description

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Ensure design of chart of accounts remains robust at all times to meet the

reporting requirements and needs of Senior Management and Board of Directors.

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Provide the necessary infrastructure for budget preparation and controlling of actual revenues and expenditure.

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Ensure that revenues and costs are allocated to the correct cost centers to enable proper management reporting and controlling.

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Ensure systems for monitoring and managing expenses are effective

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Ensure Management are held accountable for expenditure control

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Ensure business units/functional profitability statements are properly structured and prepared to assist correct decision making.

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Ensure management and financial reports to the Board and to line departments are accurate and timeous.

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Assess organizational performance against both the annual budget and Al Salam Gas`s long term strategy.

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Ensure cash flow is properly managed to consistently meet financial obligations and that excess cash is kept to a sensible minimum

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Optimize the use of favorable and cost effective banking/credit facilities.

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Develop tools and systems to provide critical information to Management and the Board and make actionable recommendations on both strategy and operations.

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Provide valuation and other strategic evaluation of acquisition/new business opportunities

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Prepare standard templates for business cases and ensure appropriate decision making tools / methodologies are adopted whilst evaluating projects.

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Perform cost-vs.-benefit analysis for capital projects to ensure value for money deals are secured.

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Ensure accounts are accurate and comply with international accounting standards

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Assist in ensuring compliance with government and the Company`s accounting and reporting requirements.

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Ensure proper control of accounts receivable and accounts payable

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Ensure effective internal controls are in place at all times to avoid abuse, fraud or unethical practices.

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Ensure positive audit reports are achieved.

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Ensure written/documented policies and procedures are in place, accessible and complied with.

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Ensure Company assets are effectively managed and controlled.

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Manage Al Salam Gas`s insurance portfolio. Ensure insurance cover is adequate to meet risks at cost effective premiums.

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Ensure constructive relationship with key stakeholders e.g. banks, insurance companies, external auditors, major suppliers etc.

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Prepare appropriate corporate performance measurement packs (budget-vs.-actual, trend analysis, key performance indicators, etc.) in a timely manner to assist internal users in steering the business, profitability and future prospects

Education, Skills and Experience

CA, ACCA, CIMA or equivalent ( Plus MBA desirable )

Minimum 12 years` experience of which 6 years at senior finance management role

Well- developed English and Arabic language skills

Strong analytical skills

Financial management – budgeting, expenditure control, asset control

Experience in interpreting a strategic vision into an operational model

Good working knowledge of audit processes

Good knowledge of international accounting and auditing standards and practices

Good knowledge of applicable laws, codes and regulations

Ability to use statistical tools and analysis methods

Good understanding of banking and investment market

Knowledge of corporate insurance environment and standards

Good IT skills

Strategic and business planning skills

Strong executive management skills

Good knowledge of contract and commercial law

Awareness of major stakeholders

Commercial awareness