Senior Corporate Finance Manager Emarat UAE

Emirates General Petroleum Corporation (Emarat) presently has a job opening for an experienced Senior Corporate Finance Manager in Dubai. The Role is required to direct and oversee the activities of the treasury, risk and receivable section in ensuring sufficient liquidity  is available for EMARAT to meet its financial obligations effectively; to manage various risks including credit & price risk and to assist the Finance Manager establish and implement financial strategies and policies in line with best practice and legal requirements.

Job Duties of Senior Corporate Finance Manager

Planning & Implementation: 

• Contributes to the development and implementation of the Finance Department’s strategic priorities and goals.
• Ensures business processes and work activities, relevant to position, are planned and executed in compliance with EMARAT policy, procedures and best practice to achieve business objectives in a safe, efficient and cost effective manner.
• Conducts periodic review of policy, procedures and practices, relevant to position, to identify opportunities for improvement and engagement in best practice.
• Generates cash flow, MTM, receivables Aging and other relevant  financial reports as per management request, timely and accurately to meet company and department requirements, policies and standards.

Budgeting: 

• Analyses cash flow, and sales and procurement plan in  coordination with Department Managers towards optimum utilization of company’s resources.
• Supervises and manages daily cash balances and cash office .
• Forecasts EMARAT’s cash flow position, reviews related borrowing needs, anticipates challenges arising from late payments and cash flow situations, and recommends mitigation actions to Finance Manager for decision making.
• Identifies cost savings through analyzing alternative working capital tools .
• Conducts financial prudence in all decisions and approves operational expenses within level of authority.

Funding & Liquidity Management: 

• Drives and contributes to EMARAT’s long-term and short term liquidity strategy on funding requirements.
• Ensure the corporation has sufficient funds to meet its current obligations; makes appropriate company financing decisions within level of authority.
• Participates in feasibility studies for new projects/proposals.
• Evaluates the financial impact on EMARAT from a liquidity and profitability perspective.
• Arranges, evaluates and negotiates proposal for loans/overdrafts with banks in order to secure the best solution for the corporation.
• Initiates and manages major finance projects (e.g. re-financing, re-pricing of loans etc.)
• Initiates, evaluates and utilizes new working capital management tools to optimized expenditures.
• Exercises Financial Mandate by coordinating and participating in the activities of Investment Committee.

What You Will Do More As A Senior Corporate Finance Manager

Risk Management: 

• Performs risk and due diligence reviews at the direction of the Finance Manager.
• Manages all aspects of risk including liquidity risk, credit risk, currency risk, interest rate risk, and operational risk related to EMARAT’s finance.
• Develops financial risk management tools and practices to analyze and report on financial market risks.
• Reviews all fuel product purchase agreements in collaboration with concerned Department to minimize any financial risk involved.
• Evaluates and advises Finance Manager on hedging to mitigate financial risks related to interest rates on the company’s borrowings, as well as on its foreign exchange positions.
• Checks all derivative activities guaranteeing EMARAT’s exposures does not exceed prescribed limits.
• Oversees the execution, reporting and back office activities of derivative transactions to ensure the timely clearing, netting settlement, recording and performance tracking of derivatives activities.
• Reviews and negotiates risk contracts such as ISDA and CSA with counter parties.
• Builds and promotes financial risk aware culture within the corporation under the guidance of Finance Manager.

Operations & Controls: 

• Ensures all financial records, transactions, bank reconciliations, documentary credit, etc. are being prepared, maintained, and documented in adherence with EMARAT’s processes/standards and discrepancies resolved promptly.
• Reviews, analyzes and reconciles treasury, risk and receivables related balance sheets and P&L accounts.
• Exercises finance mandate by objectively reviewing  all commercial, supply and other corporate contracts and agreements to ensure EMARAT financial interests are secure.
• Highlights Finance Manager/General Manager various risks to enable informed decision making.
• Optimizes the utilization of Emarat application systems and increases accounting efficiencies  for the relevant area of responsibilities.
• Coordinates with the IT Department to ensure that appropriate levels of information systems are in place and identifies areas to be automated from existing manual systems.

Other Responsibilities

Credit Control & Accounts Receivables:

• Supervises receivable units for timely recording of invoices and on following up outstanding balances with customers.
• Reviews and approves the request for credit notes as per delegation of authority.
• Directs and reviews receivables related reconciliation and aging reports.
• Conducts Credit Committee meetings to review the performance of all customers through analyzing sales trend, payment trends, aging reports, etc. offer recommendations to the pricing committee as per Corporation’s procedures.
• Manages collection risk and assists other Departments to minimize overdue receivables.

Stakeholder Relations: 

• Establishes and maintains effective relationships with external parties (e.g. Bankers, financial institutions, legal advisors, trading counterparties, etc.) required to meet EMARAT’s business and operational objectives.
• Represents EMARAT vis-à-vis external stakeholders in areas of operational importance.
• Liaises with internal Departments (e.g. Terminals & Logistics, Commercial Sales, Retail and Engineering) on their operations and strategies to assess their likely impact on cash position.
• Works effectively, proactively and with urgency across EMARAT and externally to ensure the delivery of joint services/results that meet EMARAT’s interests, and for knowledge sharing.

People Management: 

• Motivates staff and empowers direct reports by providing the necessary tools and support required to support Section goals and objectives.
• Establishes clear direction, prioritize tasks, assign and delegate responsibility and monitor the workflow of the Section.
• Builds opportunities for staff to suggest, participate in and contribute to improvement, innovation and knowledge sharing initiatives .
• Provides guidance and ensures that the Section members comply with EMARAT’s policies, processes, practices and systems.
• Ensures proper target setting and staff performance management in line with EMARAT performance management guidelines.

Job Requirements For Senior Corporate Finance Manager

The eligibility requirements for the role of Senior Corporate Finance Manager are as under:

Qualification

• Bachelors Degree in Commerce, Finance or Accounting.
• Certification of Public Accounts (CPA) / Chartered Accountant or equivalent.

Experience 

• A minimum of 8 years experience within Treasury , Finance, Accounting and credit controls in a similar role.
• Experience in the Oil & Gas Industry preferred.

Skills & Knowledge Desired

• Through knowledge of financial instruments, and financial policies and procedures and IFRS.
• Thorough understanding of financial management principles and Risk Management.
• Good knowledge of UAE banking practices and having good network in banking circle.
• Good knowledge of rules and regulations in relation to financial practice and law.
• Excellent Communication Skills.
• Business and Legal Acumen.
• Analytical and Leadership skills.
• Proficient in various accounting and business systems.
• Fluency in English.

Job ID

• 10030

Corporate Finance Director Careem Dubai UAE