Treasury Accountant ADNOC UAE

Treasury Accountant at ADNOC is responsible to maintain the day-to-day relationship with banks, monitor bank balances and control banking transactions, for Borouge ADP and PTE, which includes accounts reconciliation, arranging funds transfers, issuing bank guarantees and Letter of Credit (LC) and withholding payments to ensure that sufficient funds are available to meet financial commitments. The role includes  Maintaining central petty cash, Preparing cash transfer/ drawdown requests from surplus account with ADNOC, Checking daily bank/ cash balances and exchange rates, Checking with banks when payments are overdue, Preparing cash flow forecast; Utilizing access funds for maximize returns. Job ID for this vacancy is 1945.

Duties Of Treasury Accountant

Cash Call/Transfer/Drawdown:

• Computes cash transfer/drawdown requirements in a timely and accurate manner prior to requisition of funds from Borouge surplus account with ADNOC after obtaining information from various sources to compile cash flow forecast.
• Informs company bank of expected amounts to be credited with the value date and receives receipt of cash transfer/ drawdown amount from bank.
• Identifies differences between statement of actual sources, application of funds and cash forecast and prepares monthly reconciliation.
• Computes cash call within intercompany if required.

Payments (BTL, MRO and Cheques):

• Monitors the BTL (Bank Transfer Letter) between Accounts Payable (AP) and the Bank for automatic payment to vendors after verifying that funds are available to execute the payment to the correct accounts.
• Ensures that all accounting transactions under process are supervised in accordance with appropriate accounting guidelines, as per DOA and that they are accurately calculated, booked and allocated.
• Ensures the availability of funds in Borouge bank’s accounts (AED/USD/EUR/CNY/CNH) in order to meet its financial commitments.
• Endorses the payment requests, advising the bank for BTL, and preparation of cheques/Money Release Order (MRO) to authorized beneficiaries.
• Issue/Amend/Reload/Cancel any credit cards/E-Dirham/Tahaluf requests.
• Maintain a central petty cash, ensure adequate funds are available at all times to replenish requests from end users/sub cashiers and verify all submitted documents before replenishment.

What You Will Do More

Bank Reconciliation:

• Ensure that all bank statements for each bank account are uploaded on daily basis.
• Reviews Bank transactions for each bank account and post them in their relevant GLs.
• Compares each statement with corresponding entries in G/L to identify and reconcile transactions.
• Proposes corrections as needed and initiates correction of reconciling entries.
• Checks that the reconciliation is complete and issues daily Cash Balance Report which is further compared with closing balance in bank statement.
• Reconciliation of bank statement and internal computerized records and take of matters such as cheques not presented, deposit not recorded etc. with appropriate parties

Foreign Exchange Rates:

• Receives the prevalent foreign exchange rate for various currencies from Singapore on monthly basis and updates on system.

Monitoring and Utilization of Funds:

• Monitors the bank balances to ensure that funds are sufficient to make the day’s daily commitments.
• If there are not enough funds the payments are held back.
• Utilize access funds by placing it in financial markets to maximize the returns.

Borouge Corporate Responsibilities

• To keep abreast and knowledgeable about his / her role contribution towards the areas of Health, Safety & Environment (HSE), Sustainability, Energy Management, Ethics & Regulations, and Quality Management and its respective policies, frameworks, procedures, and objectives.
• Comply, support and enrich the culture and understanding of it through his / her communications with the internal and external contacts.
• Participate and contribute in the design, development and establishment of an Integrated Risk Management Framework within the Unit.
• Identifying and assessing relevant domain risks and implement measures to manage and mitigate all identified risks within the function.
• Ensure corporate business ethics and Company’s Code of Conduct are communicated to employees within the function in compliance to the Corporate Policies and guidelines.

Additional Responsibilities

Departmental Plans

• Plan, supervise and coordinate all activities in the assigned processes / area to meet functional objectives.
• Provide input for preparation of the section / department budgets.
• Assist in the implementation of the approved Budget and work plans to deliver the respective objectives.
• Contribute to the achievement of the approved Performance Objectives for the section / department in line with the company’s performance framework, and KPIs.
• Analyze and address any significant variances to support effective performance and cost control.
• Review, prepare, and recommend the required reports on work activities, projects, processes, etc.

Processes & Systems

• Implement approved the respective policies, processes, systems, standards and procedures in order to support execution of the work programs.
• Perform analysis on the respective processes and activities to ensure timely availability of the data analysis within the respective area.
• Train and develop the assigned staff on relevant skills to enable them to become proficient on the job and deliver the respective section objectives.
• Provide with feedback on updating and implementation of new tools and techniques to improve the quality and efficiency of processes.
• Identify improvements in internal processes against best practices in pursuit of greater efficiency in line with ISO standards.
• Define intelligent solutions for issues confronting the function.

Eligibility Requirements For Treasury Accountant

The eligibility requirements for the role of Treasury Accountant are as under:

• University degree in Finance, Accounting, Economics or related fields.
• Minimum 5-8 years’ relevant work experience in treasury/ cash management or banking field .

Skills Desired

• Good presentation and interpersonal skills.
• Strong computer skills with high proficiency in MS Office.
• Good communication skills with a strong command over both English and Arabic languages .
• Data analysis and report writing skills.
• Problem solving and decision making abilities when critical situations arise.

Treasury Specialist Mubadala Energy UAE