Finance Manager

Oman Investment Authority

STRATEGY

Develop the yearly financial budgets and prepare long term projections to incorporate into the organizational overall business plans and strategies.

Participate in the formulation of the long-term business plan and strategy by providing inputs on the financial strategy to ensure that finance and any regulatory or tariff requirements are incorporated into the organizational strategy.

Formulate CAPEX forecast and cash flow forecast for short and long term period and recommend cost effective options for financing future CAPEX projects or investments

Approve and authorize the purchase or request for petty cash to ensure timely availability of the cash/goods/services within the limits specified in the Financial Delegation of Authority (FDA).

Monitor deployment of accounting policies, systems, processes and controls for the finance department to ensure adherence to the financial requirements, formats and guidelines set by the company.

OPERATIONS

Purchases

Review all purchase requests received and purchase orders accordingly, oversee the purchase order process to ensure that goods are delivered as per the required time and specifications.

Initiate the related letter of credit procedures and advance payments and oversee the clearing and forwarding processes to ensure timely delivery of goods from suppliers.

Inventory

Create and Control the master items record, analyze and rectify any excesses and shortages to ensure availability of accurate information of stock.

Financial Accounts

Monitor and maintain the company s accounting function of the department which includes accounts receivable, accounts payable, payroll, general ledger preparation, asset registration, financial statement preparation to ensure that financial accounting is done in a timely and accurate manner.

Oversee the preparation of financial statements and management reports in compliance with IFRS.

Ensure all financial transactions are accurately recorded and reconciled, including general ledger, accounts payable/receivable, payroll, and fixed assets.

Accounts payable

Closely monitor all accounts payable activities for timely payments to suppliers to promote good relationship with the suppliers

Audit & Compliance

Lead coordination of internal and external audits and ensure timely closure of audit recommendations.

Maintain audit readiness across the organization through strong control environments and evidence-based documentation.

Ensure all statutory and shareholder reporting obligations are met.

Support MD in Audit & Risk Committee reporting and governance reviews.

Stake holders Relations

Coordinate with the General Manager and inform the Board of Directors, Shareholders on budgetary, accounting and other financial matters to ensure clarity in the company s financial health amongst the stakeholders.

Taxation & Statutory Reporting

Oversee preparation and filing of all tax returns, ensuring compliance with Omani tax laws and Group reporting requirements.

Manage transfer pricing, deferred tax, and withholding tax obligations across group entities.

Maintain proactive relationships with the Tax Authority to ensure efficient compliance and risk management.

Payroll

Review the monthly payroll for all employees by liaising with HR which includes over times, deductions, allowances, coordinating with banks to ensure timely deposit of salaries in the bank.

Insurance Management

Lead the design, renewal, and administration of corporate insurance policies to ensure comprehensive coverage of DQ assets and operations.

Manage insurance claims, track settlements, and reconcile coverage costs within budget.

Coordinate with Procurement for insurance tendering and broker selection.

Internal Controls & Risk Mitigation

Implement and continuously enhance internal control frameworks across financial processes.

Monitor risk exposure and ensure compliance with delegated financial authority limits.

Collaborate with group internal audit department to strengthen financial risk reporting.

Management Accounts

Initiate and coordinate with all the departments for the monthly preparation of various management accounting reports which includes the variances, cash flows, projections, etc.

Petty Cash and Reimbursements

Oversee the reimbursements activities which include computation of total reimbursement to be made to employees, petty cash requirements received from various departments to ensure availability of cash for immediate purchase requirements of various departments and reimbursements are accurately made to the employees on a monthly and annual basis

Records

Coordinate and oversee the maintenance of all financial records and supporting financial documents related to the company and carry out timely updates and review of documents to ensure it meets with the financial legal requirements and directions of the company.

Department s Development

Lead and guide subordinates by providing them with technical guidance, training and the required growth opportunities to ensure that subordinates are developed for higher-level roles.

Set the key performance indicators and goals for the employees in the department to direct them towards the departments goals

Other Responsibilities

Liaise and facilitate audit activities with state, internal and external auditors.

Present as the secretary to the Internal Audit Committee and carry out all its related activities