Role Objective
The Accounting Function Head at Oman Air is responsible for managing the end-to-end accounting operations and revenue accounting while ensuring compliance with accounting standards and regulations. This role will be key in ensuring all financial statements are periodically updated in a timely and accurate manner while managing the month-end closing process. The Accounting Function Head will maintain compliance, transparency and financial accuracy while managing a team of accountants and provide guidance and support to ensure accounting procedures are being conducted effectively. Furthermore, the function head will work closely with the financial reporting department and other key departments to provide financial analysis and insights to drive decision-making.
Duties and Responsibilities
Area of responsibility
General Responsibilities
1. Ensure timely and accurate delivery of monthly, quarterly, and annual financial statements in compliance with international accounting standards (IFRS) and regulations.
2. Oversee accounts receivable and payable and ensure timely receipts from customers and timely payment to suppliers with relevant supporting (for audit trail) in line with contractual obligations.
3. Close monitoring and follow up on the collection days and payable days gap and manage the reconciliation of supplier statements
4. Timely communication with relevant departments for monthly accruals and provisions with reasonable supporting evidence.
5. Drive and manage the month-end closing process, including reconciliations, journal entries, and other financial reports.
6. Oversee accounting at all outstations.
7. Manage compliance to the monthly check list of key function activities, reconciliation and controls in place to ensure the reporting deadlines are met with accuracy without default.
8. Oversee the general ledger and manage the journal entries capture in a timely and accurate manner while ensuring necessary approvals are received.
9. Manage the recording of financial transactions and reconciliations and ensure financial data is accurate and complete.
10. Bring new initiatives and automation in the processes, reporting and monthly closing process.Review of Chart of Accounts and audited Financial Statements to ensure Trial Balance is in line with the audited results / classifications.
11. Intime response to stakeholder’s emails and requests without significant delays and inform the management in time in case of any delays or unusual events.
12. Maintain organized and accurate financial documents and records and develop all reports for tax, audit and regulatory purposes.
13. Oversee fixed assets accounting and ensure compliance with international accounting standards and industry-specific reporting, as applicable.
14. Ensure the ERP systems are periodically updated to facilitate timely payment processing.
15. Review and ensure that accounting policies are applied consistently across Oman Air.
16. Keep abreast of accounting developments / standards changes and proactively manage the impact on Oman Air’s current accounting procedures accordingly.
17. Oversee all revenue accounting activities in close collaboration with the revenue management department including performing monthly revenue-related journal entries, accounting procedures for the partnerships and code-share alliances, reconciling balance sheet accounts, preparing the revenue P&L reports and more.
18. Support external financial audits in collaboration with the Financial Reporting Manager and act as a liaison between internal and external auditors.
19. Work closely with the Vice President to improve and implement accounting strategies and other ad-hoc initiatives, in line with Oman Air’s new direction.
20. Collaborate with the financial planning and budgeting team to understand gaps between budget and actuals and aim to mitigate/minimize moving forward.
21. Work closely with all departments to ensure timely and adequate accounting processes, reporting and monthly closing.
22. Collaborate with the leasing teams to provide accounting-focused advice on aircraft leasing, sale and leaseback or purchases.
23. Supervise the team of accountants and provide them with guidance, support and training, as required and KPIs.
Education & Experience
➢ 10-12+ years of experience with a minimum of 4 years’ experience in a managerial role in finance and accounting. in Aviation industry experience is a strong plus.
➢Bachelor’s degree in finance, accounting or related field and a professional accounting accreditation (eg CA, ACCA, CIMA, CPA, etc) is a must.
In depth knowledge of international accounting standards (e.g., IFRS, GAAP)
➢ Strong ethical conduct with dedication to maintaining ethical standards across all corporate matters and adhering to the aviation industry laws and Code of Conduct.
➢ Demonstrated outstanding organizational and leadership abilities.
➢ Strong organizational and time-management skills.
Special Skills & Knowledge
➢➢Ability to adapt to changing financial challenges and optimize financial resources accordingly.
➢Dynamic leader able to manage a multi-cultural team, with a commanding presence and excellent communication skills.
➢Ability to work in a fast-paced environment / transformational setting.
➢Ability to work with key stakeholders and external partners through teamwork in a non-hierarchical relationship framework.
➢Organized and efficient and a strong problem solver and decision-maker.
➢Strong financial acumen and familiarity with aviation accounting practices
➢Demonstrated ability to lead and manage accounting functions, including accounts receivable, payable, general ledger entries and more while complying with accounting standards (e.g., IFRS) and regulatory requirements.
➢Experience preparing income statements, balance sheets and cash flow statements.
➢Experience in managing financial transactions and complying with accounting policies and procedures.
➢Outstanding organizational and leadership abilities
➢Deep business knowledge, strategic thinking and ability to derive financial insights for decision making.
➢Experience driving large financial transformations with proven track record of driving financial success.
➢Proven track record collaborating with cross-functional teams and stakeholders to achieve financial objectives.
➢Proficiency in English (must) and Arabic (preferred)