Finance VP / Director

Oman Investment Authority

JOB PURPOSE:

• To Lead the corporate finance & accounting functions of the Group/Subsidiary, providing support and direction to drive the companies financial operations and improve financial performance. The role harmonizes financial operations to a group standard, develops effective financial solutions, and optimizes human capital resources across the different finance departments.

This role is responsible for:

• Group Budgeting (Strategic planning), Controlling and Reporting (GBCR): support Group CFO at Head office (HO) in translating the corporate strategy into operational plans budgets and forecasts and design and implement the controlling model and system, monitor the performance of the Group/BU vs. budgets on monthly basis, and oversee the accounts closure and consolidation processes.
• Investment analysis and financial modelling: To provide strategic and financial analysis in support of major invest / divest / keep decisions made by the Group and its Business.
• Business Units (BU s) support: provide finance function support to BU s that do not have a full-time finance department.

Job summary

• Provide Finance leadership to the group and BU s
• Provide the required support/financial analysis to the management in making strategic decisions and formulating business development plans
• Analysis and implementation of process improvements
• Advise the businesses on all major accounting issues
• Oversee the Group annual budget preparation and monthly reporting.
• Play an active role in identifying improvement opportunities within the finance departments of the BU s.

KEY ACCOUNTABILITIES:

• Strategy Development and Implementation
• Develop and direct the implementation of the strategy for HO and BU s without full-time finance function leadership ensuring alignment to ASYAD s strategy, business plan vision, mission, and corporate objectives.
• Ensure the provision of subject matter expertise for the assigned domain and provide counsel to BU s leadership on all related areas to facilitate the achievement of ASYAD s strategy and divisional strategies.

Leadership

• Manage the effective achievement of corporate objectives through effective leadership and by setting of individual objectives, managing performance, developing, and motivating team to maximise performance
• Lead the talent development initiatives for the division, collaborating with discipline experts and thereby ensure the availability of talent to fit business requirements.
• Monitor productivity and provide constructive feedback, coaching and guidance to people within the team, as well as to functional reports and peers in the majority-owned subsidiaries.
• Collaborate effectively with CXO-level executives within the BU s, as well as with senior executives in ASYAD.

Management Accounting

Planning (Budgeting)

Head Office (HO) and Business Units (BU s):

• Oversee the consolidation of ASYAD Group s/BU s five-year strategic business plan as well as support the Group CFO with consolidating the Group s annual budget. This includes the preparation of projected financial statements for HO and ASYAD Group Consolidated.
• Support the BU s CEOs in preparing the five-year business plan updated and annual budget to ensure meeting the Group deadlines.
• Oversee the preparation and recommend the finance divisional budget.
• Analyse /review and challenge the BU s and HO departments budgets and validate/discuss their consistency with the Group s mid-term objectives.
• Define the guidelines, procedures, schedules, and templates of information and analysis that needs to be reported by the subsidiaries for business plan and budget preparation.

Control

HO and BU s:

• Responsible for monitoring, controlling and reporting the financial performance of ASYAD Group and/or BU s versus the budget so that the business is aware of anticipated costs / revenues and areas of unsatisfactory performance and ensure potential areas of cost reduction or performance improvement opportunities are capitalized upon.
• Prepare periodic reports (MIR) HO as well as consolidated Group performance.
• Coordinate meetings with the BU s Leadership teams and Group Chief Asset Management to review performance reports.
• Prepare consolidated management control tools for the Group, e.g., financial KPIs.
• Continuously improve reporting and controlling system for Group and BU s reporting.
• Identify, assess and, if appropriate, develop new performance management reports/systems which support management decision making.

Accounting, Taxation and Financial Reporting

HO and BU s:

• Manage and supervise the accounts closure and the preparation of monthly, quarterly, and annual financial statements for the group companies, individual and consolidated.
• Ensure that financial statements are prepared in accordance with the International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and local legal framework within agreed timelines.
• Ensure the execution of standard operating procedures are complied with during the preparation of financial statements.
• Coordinate with technical experts (internal and external) on complex Group IFRS issues.
• Manage the submission process of Income Tax Returns and deferred tax calculations, WHT and VAT Returns.
• Ensure compliance with the rules and regulations issued by the Tax Authority.

Audit Engagements