Job Summary
The role is responsible for supervising the Receivables Department in all aspects for UAE / Oman / Turkey directly. Working closely with the Head of Finance Operations and other departments on receivables-related internal controls and compliance issues, Tax and external audits, and relevant data inputs in order to ensure that Receivable Accounts in the assigned accounting area are accurate and transactions are in compliance with the Company's policies and procedures, regulatory requirements, and international financial reporting standards.
Key Responsibilities
- Lead the process of recording and submission of invoices in line with the active contracts/LOA/POs for Fixed monthly and additional jobs.
- Ensure that all unbilled amounts are reviewed regularly and converted to billing efficiently.
- Ensure that all Invoices to Clients are submitted within timeline and Invoice Tracker is updated accordingly real time.
- Leading the process of creating New Customers and updating existing Customers, in accordance with internal control procedures.
- Ensure that ERP is properly updated / monitored as per contracts/LOA/PO, in terms of payment terms, customer name, amounts, billing rules and contact details etc
- Ensure that books are closed accurately, and arrange monthly reviews with FP&A.
- Review of Project Financials with Operation Teams on monthly basis before closing the numbers.
- Cleaning of all Balance Sheet schedules especially fully cleaning & control on unbilled / over under billing / provision for sales & KPI / cleaning of negative amounts from AR Agings and submission of clean & signed BS schedules to shared folder, for audit purposes.
- Leading the process of monthly reconciliations for related parties and other clients and follow up with client and team for updates.
- Lead the process of detailed review and finalization of month end closing, revenue accruals, KPI/other provisions and POC revenue calculations, within deadline.
- Leading the calculations of Bad Debts Provisions as per policy and ECL as per IFRS 9.
- Leading POC calculations for energy projects and follow up and update budgets on monthly basis.
- Monthly DSO targets monitoring by project and by country. Reporting of DSO variance analysis to management every month.
- Monthly collection forecast reporting to Treasury.
- Weekly monitoring / reviews / meetings for collection targets, challenges and expectations. Submission of Weekly detailed cash forecast variance analysis with commentary to management.
- Perform escalation for collection or unbilled, in case of delays.
- Leading the process receipts recording & allocations.
- Lead / Arrange regular monthly or bi-monthly meetings with Enova Ops to align outstanding collections & unbilled amounts.
- Lead / Arrange regular online or physical meetings with key clients and make professional relationships with clients.
- Ensure all the requirements & deadlines are met from Shareholders Internal Audit departments.
- Ensure that Internal Audit observations are taken care of, action plan is prepared, and actions are implementation within agreed timelines. No observation should be re-opened.
- Ensure to abide by all the requirements of Group Cap Campaign / Internal Control Guidelines. In case of non-compliance, action plan to be prepared and actions are implemented within agreed timelines.
- Full compliance with group policies & procedures, internal control measures, and regulatory requirements.
- Lead on the process of developing, maintaining and revising group AR related Policies & Procedures, based on current requirements and business changes.
- Identifying the compliance issues within the business processes, escalating to the relevant senior stakeholders, and ensuring proper safeguards are in place. Collaboration with other departments (FP&A, Operations, Energy Team & Other Regions) to improve business processes.
- Ensure all External Audit (Interim & Full Year) requirements are provided within agreed timeline and with high accuracy.
- Ensure all Tax & regulatory requirements are met accurately and well within deadlines (VAT, E-Invoicing etc).
- Successful identification of key enhancements and drive implementation/ rollout to enhance controls, efficiency and standardization of processes.
- Attend weekly meetings with ERP teams and lead on identification of issues, data gathering, Testing, Go-Live and post go-live testing processes.
- Provide support to all relevant internal stakeholders including guidance/training on Receivables related areas.
- Develop proactive working relationships with external stakeholders including Customers, Auditors, Consultants and Related Parties.
- Provide timely and accurate information to all stakeholders.
- Streamline team structure, clearly define and assign roles, responsibilities and weekly/monthly/annual goals.
- Create backup plans for leaves and terminations.
- Focus on developing a resilient model structure (standardize processes, documentation, handover methods to ensure departures and terminations are mitigated).
- Assess and recommend development plans, focusing on key team members.
- Delegate wherever possible, make team accountable for their tasks, continuously monitor the performance and provide guidance/feedback for improvement.
- Engage with team on regular basis for Training & Development / IC & audit issues / Awareness on P&P and best practices / Closing and to enhance team work etc.
- Providing training for new & existing staff for AR processes in all regions. Create training videos and process manuals for future references.
- Develop weekly / monthly workload planning, taking a proactive approach to tasks, to efficiently manage department workload.
- Ensure that workload is efficiently and fairly distributed among team members.
- Any other job assigned by the Line Manager.
Tools & Methods, HSEQ
Abide by the Health, Safety, Environmental and Quality, (HSEQ) policy, procedures necessary for the good conduct and safety of the workplace. It is a requirement and moral obligation of each employee to be actively committed and accountable to the compliance of Enova's HSEQ policy, operating procedures, as well as being compliant to local legislation. The Employee shall seek clarification and guidance in specific cases or whenever one feels necessary.
Customer Relations
Develop a pro-active working relationship with all authorities and assist in establishing areas for service improvement.
Minimum Qualifications
- Bachelor's / Master's degree in Accounting & Finance.
- ACA / ACCA / CPA / CMA will be an added advantage.
Minimum Experience
- 8-10 years of total work experience in Accounts Receivable + Collection.
- Industry/contracting business/construction business experience preferred.
- GCC experience is a must.
Job Specific Skills
- Ability to work independently and lead on AR with cross-functional divisions
- Strong but pleasant personality
- Ability to manage large teams performance, workload, hiring, and backup plans
- Dispute management & Negotiation skills with clients and operations teams
- Sound presentation and communication skills
- Ability to influence internal and external stakeholders
- Knowledge of IFRS 9 / ECL calculations
- Must be experienced in AR Dashboards, Reports, DSO and collection monitoring.
- Advanced Excel skills
- Experience of handling of Output VAT, E-Invoicing and other relevant taxation/regulatory requirements.
- experience working with ERP such as Microsoft D365 / Oracle / SAP would be preferable.
- Experience working with multiple regions within GCC will be an added advantage
