The Divisional Finance & Accounts Manager is responsible for overseeing the financial health and accounting functions of a specific division within an organization. This role involves managing financial reporting, budgeting, forecasting, and ensuring compliance with accounting standards and internal policies. The Divisional Finance & Accounts Manager serves as a key business partner to divisional leadership, providing insights and financial analysis to support strategic decision-making. They also manage accounting operations, financial controls, and ensure that the division operates within its financial targets.
| Salary | Market Competitive |
| Experience | 10 – 15 years |
| Location | Oman |
| Qualification | Bachelor of Commerce(Commerce) |
| Posted | 21 October 2024 |
| Job Type | Full-Time |
| Posted by | Habeebi Recruiter |
| last date to apply | apply within 15 days of posting |
Key Responsibilities
1. Financial Planning and Budgeting
A primary responsibility of the Divisional Finance & Accounts Manager is to develop and oversee the financial planning and budgeting processes for the division. This includes working closely with divisional leadership to create detailed budgets, forecast revenue and expenses, and align financial goals with overall business strategies. The manager ensures that budgets are realistic, achievable, and based on sound financial data, helping the division to achieve its financial objectives.
2. Financial Reporting and Analysis
The Divisional Finance & Accounts Manager is responsible for preparing accurate and timely financial reports, including profit and loss statements, balance sheets, and cash flow reports. They analyze these reports to provide insights into the division’s financial performance, identifying trends, variances, and areas of concern. By providing regular financial analysis, the manager helps leadership make informed decisions about investments, cost controls, and operational efficiency.
3. Accounting Operations Management
The manager oversees the day-to-day accounting operations for the division, ensuring that all financial transactions are accurately recorded and that financial statements reflect the true financial position of the division. This includes managing accounts payable, accounts receivable, payroll, and general ledger activities. The Divisional Finance & Accounts Manager ensures compliance with internal policies and external accounting standards, such as GAAP or IFRS, depending on the region.
4. Internal Controls and Risk Management
A key responsibility of the Divisional Finance & Accounts Manager is to implement and maintain strong internal controls to protect the division’s financial resources and prevent fraud. They regularly review financial processes and ensure that risk management procedures are in place to safeguard assets. This includes auditing internal financial practices, identifying areas of risk, and ensuring compliance with corporate governance standards and regulatory requirements.
5. Financial Strategy and Business Partnering
In this role, the Divisional Finance & Accounts Manager acts as a strategic partner to divisional leadership, providing financial guidance and recommendations that influence business decisions. They collaborate with department heads to understand operational challenges, evaluate new business opportunities, and assess the financial impact of major projects or investments. By aligning financial management with strategic objectives, the manager helps drive sustainable growth for the division.
6. Cost Management and Efficiency Improvement
The Divisional Finance & Accounts Manager is responsible for identifying cost-saving opportunities and improving operational efficiency within the division. This includes analyzing cost structures, identifying areas for reducing waste, and working with divisional teams to implement process improvements. Effective cost management ensures that the division operates within budget and maximizes profitability.
7. Team Leadership and Development
The manager is responsible for leading and developing the divisional finance and accounting team. This involves setting performance goals, providing mentorship, and ensuring that team members are equipped with the skills and tools necessary to perform their duties effectively. By fostering a collaborative and high-performing team environment, the Divisional Finance & Accounts Manager ensures that the finance function operates smoothly and supports the division’s needs.
Qualifications and Skills
- Educational Background: Bachelor’s degree in Finance, Accounting, or a related field. A Master’s degree or professional certifications (e.g., CPA, CMA) are often preferred.
- Experience: At least 5-7 years of experience in finance or accounting, with a proven track record in financial management within a division or business unit.
- Technical Skills: Strong knowledge of accounting software (e.g., SAP, Oracle) and advanced proficiency in financial modeling and analysis tools like Excel.
- Analytical Skills: Ability to analyze complex financial data, identify trends, and provide actionable insights to support business decisions.
- Leadership: Proven leadership and team management experience, with strong communication and interpersonal skills to collaborate with both finance and non-finance professionals.
- Regulatory Knowledge: Familiarity with local and international accounting standards (GAAP, IFRS) and experience in ensuring compliance with tax laws and corporate regulations.
- Problem-Solving: Strong problem-solving and decision-making abilities, with the capacity to develop creative solutions to financial challenges.
The Divisional Finance & Accounts Manager plays a critical role in maintaining the financial integrity of the division while acting as a strategic partner to divisional leadership. With responsibilities spanning from financial reporting to cost management, this role ensures that the division operates efficiently, remains compliant, and achieves its financial objectives.
How to apply:
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