Assistant Finance Controller – Automotive

Our client is a leading Kuwaiti business with a diverse portfolio across multiple industries. Their philosophy emphasizes developing innovative solutions with vast potential in multiple sectors, aiming to create opportunities that foster business growth.

What we offer

In addition to a competitive tax-free salary and excellent benefits, you'll work in a professional, collaborative environment with a diverse team and numerous opportunities. Our client offers a rewarding career experience and is excited to connect with individuals seeking new challenges.

Who you are

You are a dynamic professional with a proven track record in managing financial risks. Highly analytical and detail-oriented, proactive and strategic thinker. You accurately interpret financial data to guide the finance team and make critical decisions. Self-driven with the ability to focus on key priorities and work independently with minimal supervision.

Description

In this role, you will be responsible for supporting the financial management and operations of the company, working under the guidance of the Finance Controller.

Accounts Closing & Financial Preparation

1. Ensure accounting accuracy with adequate validation and checks.
2. Preparation of statutory financials every quarter for all entities in BU.
3. Ensure intercompany reconciliations are completed every month and balances confirmed with counterparty.
4. Ensure BRS is completed every month, and no open item remains beyond the last week of the month.
5. Ensure year-end statutory financials are prepared in compliance with applicable Accounting Standards, reviewed for accuracy, and submitted to Statutory Auditors with all necessary supporting information and sign-off within prescribed timelines.
6. Ensure all queries & additional information requested by Statutory Auditors are submitted and closed within set timelines.
7. Ensure provisions are analyzed and reviewed for adequacy on a monthly basis.
8. Ensure adequate CAPEX control exists in the BU. Additions are processed in compliance with policy with necessary justification, comparative quotes, etc. Assets are periodically verified, tagged, variances reported, and adjustments made with appropriate approvals.
9. Ensure financial systems/modules (ERP, EPM, SAP, CDK, etc.) are adequately configured with necessary control and validation checks.

Receivables & Payables Control

1. Receivables
2. Ensure appropriate Receivables monitoring & collection process exists in BU.
3. Adherence to Group Credit Control policy.
4. Ensure necessary documentation is in place to facilitate recovery of dues in case of legal action.
5. Exchange of monthly statements and quarterly balance confirmation with customers.
6. Dues to be collected within approved credit period.
7. Ensure adequate provision is created as per Group policy, also compared with ECL method as per IFRS 9, and maintain whichever is higher.
8. Payables
9. Ensure appropriate procure-to-pay process in place.
10. Vendor credit terms are periodically reviewed.
11. Vendor balances are reconciled monthly and balance confirmations obtained quarterly.

Cash flow Management

1. Ensure effective planning and execution to have positive cash flows month-over-month.
2. Ensure no idle cash remains in the Business by resorting to,
3. repatriating loans if any and/or
4. investing in FDs.
5. Major unexpected collections and payments to be immediately informed to GT for effective cash management.

Overhead Control

1. Extend complete support to GIA initiatives & verifications.
2. Ensure all compliance/responses are coordinated with respective stakeholders and submitted within stipulated timelines.
3. Escalate overdue High-Risk open items on priority for resolution and coordinate for timely closure.
4. Follow up on all action items assigned to Business stakeholders and ensure closure within the agreed timeline.

Skills
Education & Qualifications:

• Bachelor's Degree and Master's with a minimum of 10 - 15 years of professional experience in Accounts/Finance.
• Qualified Finance Professional holding CA / CPA / CMA / ACCA is mandatory.
• Proven work experience at Managerial Level or similar role for at least 5 years, with exposure to Automotive Trading/Engineering/EPC/Contracting/Construction/Remittance/Insurance.
• Strong knowledge in business analytics combined with advanced technical skills, working with different stakeholders.
• Experience with Enterprise Resource Planning (ERP) software (e.g., SAP, Oracle) and advanced financial systems to improve efficiency, transparency, and decision-making.
• Experience in overseeing Supply Chain Management (SCM), Inventory, Warehouse & Logistics Management.

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