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Urgent! Financial Controller Projects | Descon Engineering


Posted on February 27, 2020

8 - 15 years Abu Dhabi - United Arab Emirates

Chartered Accountant(Chartered Accountant), CA Inter(Chartered Accountant), Master of Commerce(Commerce), Chartered Financial Analyst(Finance). Any Nationality

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Job Description

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• FINANCIAL STRATEGY: Supporting BU FC in formulating financial strategy for BU by analyzing short term & long-term business prospects & financial standings of BU.
Analyzing past trends, internal & external factors & performing SWOT analysis to assist BU FC in giving strategic direction to the BU for upcoming years.

• BUDGETING: Reviewing annual budget to report BU FC, the matters to be addressed in order to align the BU’s performance with the devised business strategy

• FINANCIAL REPORTING: Establishing robust & relevant reporting mechanism (using ERP) to support BU FC in timely & accurate decision making.
Monthly financial analysis to identify & highlight areas to BU FC that require immediate management attention due to weak controls and anticipated cost overrun.

• MONITORING & CONTROL: Review of project budget, project’s latest forecast, to report BU FC the areas where cost is likely to overrun.
Support BU FC in ensuring the application of budgetary, internal controls compliance and documentary requirements over the procurement process.
Review of project trial to identify areas requiring adjustment including advances, IR/GR, security deposits, sales taxes etc.

• BID ANALYSIS: Assisting BU FC in performance of SWOT analysis during bid evaluation process.
Supplementing BU FC by exploring the actual results of similar nature project to compare with the bid figures so as to highlight any discrepancy due to recent modernization in laws & regulations, inflation, currency exchange rate etc. to avoid any off beam future impact on Organization’s profitability.

• CASH FLOW MANAGEMENT: Assist BU FC to manage working capital by reporting the projected inflows & outflows.
Communicate with clients to ensure timely inflows as per terms of the contract so as to maintain positive cash flow of the project.

• MANAGING PEOPLE: Set individual targets, manage, develop & motivate staff & demonstrate leadership by suggesting & implementing improvements in complex internal procedures to ensure effective and efficient utilization of organization’s resources.
Directing & convincing other departments towards improved controls & adhering to company policies & procedures.
Be up-to date and have broad know-how of the industry to lead the team in right direction to support the organization’s vision & mission.

Report balance cost to complete every project well in time.
Conduct audit & get statutory reports
Prepare and submit project budget to CFO for financial review and authorization by CEO before start of project execution.

Compare and report on budgeted versus actual figures for each project on monthly basis.
Maintenance of accounting records and ensuring financial reporting of project as per best practices
Control and monitor BA establishment expenditures in accordance with budgeted comparison and achieve self-reliance in funding from existing projects resources.
Preparation of project budget approval.
Follow up the accounts of financial control manual
Report extra-ordinary events and deviation instantly to CFO/BA Head
Preparation of payroll and other benefits
Maintain fixed assets register in order.

To closely monitor funds movement by focusing on timely generation of invoices, follow up and chasing of receivables and administering payables
To facilitate smooth operation of future and existing projects while keeping financial charges at minimum
To arrange for and expedite procedures for Letter of Credit, L/G, Bid Bonds, leases and non-funded facilities with bank in accordance with division of responsibilities of treasury functions between BAs’ and Head office in close collaboration with treasury managers

To improve financial reporting documentation of systems for better internal control as per company policies and procedures for control
Be proactive and raise flag immediately on violations and bypass of systems
Be aware and monitor risks and communicate to CFO and BA Head
Keep checks and strict control on expenses and verify the sources; if doubtful
To monitor & suggest corrective measure Head BA, in order to control projects within budgeted limits with respect to cost, profitability, revenue generation and general monthly cash flows
To prepare, implement and update monthly cash flows in each BA and identify the reasons of variation from budget.

Achievement of financial objectives through the strong leadership by – setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal in order to optimize the manpower resources.

Accountable to create a safe working environment, manage risks, reduce exposure to hazardous liability and ensure implementation of QHSE policy.
Comply with all QA/QC standards (DIMS standards) as applicable to the company systems, policies, procedures, and documents in order to deliver the expected quality of work.

 B.COM, M.COM, MBA FINANCE, ACMA, ACA, ACCA, CIMA, CA Final, with 5 years’ experience in project Management.

Minimum Experience:
• 8 to 12 years’ experience with Oil & Gas industries.
• Candidate should have good in UAE Market along with In depth knowledge of International Financial Reporting Standards, accounting policies & accounting software systems.
• In depth knowledge of business law & taxation matters to deal & conclude conflicts with vendors & customers.

Please share your updated resume along with professional picture on below email id: recruitment.uae@descon.com

Oil & Gas / Petroleum

Finance / Treasury

Desired Candidate Profile

The incumbent working on this position shall be mainly responsible to run, coordinate and ensure timely and accurate reporting of financial information with proper books of accounts as per standard accounting practices while effectively managing the financial and cost control functions of the BA, maintaining accurate books of accounts and ensure daily recording of transactions at project and BA office in the system, to ensure good governance in Funds management, commercial transactions, banking and treasury functions, and to advice BA Head regarding financial health of the project-overseas BA.


Finance Controller FINANCIAL STRATEGY Budgeting Cash Flow Management Budgeting & Forecasting Cost Control Project Monitoring Cost Control Management sap banking Financial Management Accounting

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Descon Engineering Limited is an integrated engineering services and manufacturing company operating in Pakistan and the Middle East. We are in the business of delivering client-specific solutions for projects related to Energy, Infrastructure and Process industry. The integrated package of service s encompasses engineering, procurement, manufacturing, construction, commissioning and maintenance.
We are a multi-dimensional engineering and Construction Company, supported by more than 25,000 employees from around 22 different nationalities. The services portfolio covers project management, engineering, procurement, construction, plant services and manufacturing of process equipment for the sectors of Oil & Gas, Chemical/Petrochemical, Power, Fertilizer, Cement, and Infrastructure.

Today Descon is a major player in the region serving the oil and gas, chemical, petrochemical, cement, power and infrastructure sectors in Pakistan and the Middle East.
The company is driven by clearly defined vision and strives to add value to its clients’ businesses by providing world-class solutions at cost-effective levels.
Services: EPC, Project Management, Engineering, Construction, Maintenance and Manufacturing

Presence: Pakistan, United Arab Emirates, Qatar, Saudi Arabia, Kuwait
View Contact Details


Name/ Designation:
Deepak Kuamr - Lead HR Generalist & Recruitment Specialist

Address: Prestige tower, East 2 MBZ city Pin 46821 United Arab Emirates (UAE)
Abu Dhabi
United Arab Emirates




Website https://www.descon.com

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