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Senior Finance Executive
2 months ago
We are seeking a highly skilled and experienced Senior Finance Executive to join our team at Arabnews. As a key member of our finance department, you will be responsible for providing financial expertise and support to our business units.
Key Responsibilities- Financial Planning and Analysis: Prepare daily cash flows indicating bank-wise balances, Shariah Compliant Deposits, and expected profit rates, as well as contingencies and PDC financial exposure.
- Bank Reconciliations: Prepare assigned bank reconciliations and POS reconciliations on a daily basis for uploading bank statements and clearing in SAP.
- Transaction Processing: Prepare banking letters to process transactions, including vendor payments, customer refunds, bank transfers, Shariah Compliant Deposits, and Activate/Unblock Credit Cards.
- Letter of Credit Management: Arrange Letter of Credit and LC amendments required by different business units, ensuring LC clauses are aligned with our treasury policies.
- Discrepancy Resolution: Check for document arrival notifications for LC discrepancies and cash against documents, arrange approval from respective business units, and process the same.
- Guarantee Arrangements: Arrange Letter of Guarantees within SLAs as requested by different business units.
- Cashiering Activities: Sort out any discrepancies arising out of cashiering activities, coordinate with IT to find solutions to resolve issues.
- Commission Verification: Verify the commission rates for each card type for both QNB and Doha Bank.
- Reclass Posting: Perform PDC and Credit Card reclass posting based on data provided by the payables team.
- Month End Reconciliation: Prepare Month End reconciliation files to ensure no long outstanding pending transactions in the reconciliation.
- System Testing: Regularly test basic controls in SAP relating to the cashiering system.
- Communication: Communicate with banks for queries, issues, payment account confirmation, SWIFTs, and remittance details.
- Business Unit Support: Communicate with business units for banking needs, sharing exchange rates, payment status, or other financial metrics.
- Check Verification: Verify cheques in RDC, clear cheques, and notify the sales team in SAP on alternate Saturdays.
Arabnews is a leading company in the automotive dealership and distributor industry.