Specialist Technical Accounting

About EWEC

EWEC (Emirates Water and Electricity Company) is the sole procurer and supplier of water and electricity in the emirate of Abu Dhabi. EWEC drives the planning, forecasting, purchasing, and system despatch services of water and electricity. EWEC fulfils these vital responsibilities through the short-term and long-term balancing of bulk supply and demand for distribution companies and authorities in Abu Dhabi and other Emirates. EWEC is supporting the government of Abu Dhabi and the government of the UAE by enabling the reduction of cost whilst also providing the increased security of supply that comes from a cleaner, larger, and more integrated system.

EWEC is mandated to implement strategic initiatives that will achieve the 60 per cent clean energy target outlined in the Abu Dhabi Department of Energy's (DoE) Clean Energy Strategic Target 2035 for Electricity Production in Abu Dhabi, in addition to enabling the achievement of UAE Water Security Strategy 2036, UAE Energy Strategy by 2050, and the UAE Net Zero by 2050 strategic initiative. EWEC is accelerating Abu Dhabi and the UAE's energy transition by diversifying the country's energy mix through developing and deploying renewable and clean energy as well as low-carbon intensive water desalination capacities. EWEC is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. For more information, please visit www.ewec.ae.

Job Summary:

Emirates Water & Electricity Company (EWEC) is seeking a Specialist – Technical Accounting. This role is responsible for ensuring accurate and timely financial and regulatory reporting, ensuring compliance with IFRS standards and other regulatory requirements. This role is also responsible to manage monthly financial statement close process and ensure accurate monthly financial statements and finance master data are maintained in accordance with IFRS standards and other DoE requirement.

Key Responsibilities:

Financial Reporting:

• Prepare, review, and analyse monthly, quarterly, and annual financial statements.
• Ensure monthly financial statement close process calendar is adhered to.
• Ensure compliance with applicable accounting standards.
• Collaborate with the wider finance teams to gather necessary data and ensure accuracy in reporting.
• Preparation of audit committee presentations and financial analysis for external and internal stakeholders on a quarterly basis.
• Assist internal and external auditors by providing necessary documentation and insights during the audit process.
• Coordinate audit requests and ensure timely responses to auditor inquiries.
• Ensure compliance with documented internal controls, maintain documented processes, and verify appropriateness of identified risks and relevant controls to mitigate risks.
• Implement audit recommendations to enhance financial reporting processes.
• Promote the principles of good accounting practices and continuous improvement.

Regulatory Reporting:

• Monitor and identify regulatory changes affecting financial reporting and compliance.
• Prepare and submit required regulatory reports (e.g., SBA, PCR) in a timely manner.
• Liaise with regulatory bodies and respond to inquiries as needed. Prepare presentation and supporting documents.
• Collaborate with legal and compliance teams to assess the implications of regulatory changes on the organization's financial practices.
• Maintain an organized repository of regulatory guidelines and documentation to facilitate audits and inspections.

Technical Accounting:

• Identify, develop and implement new accounting and finance processes (i.e. IFRS 16, IFRS 9, IFRS 15 processes, etc.)
• Closely follow IFRS developments and determine the impact on EWEC.
• Conduct external competitive benchmarking and analysis by maintaining IFRS.
• Implement the new or modified IFRS throughout the organisation by working closely with senior team members across accounting, treasury, business performance and financial planning.

Required Educational Qualifications:

• Bachelor's degree in finance, Accounting or related field
• Professional certification (CPA, ACCA, CMA, or equivalent)

Required Minimum Experience:

• Minimum 5 years of experience in financial and regulatory reporting
• Strong exposure to IFRS (especially IFRS 16)
• Experience in large, multinational or energy & utilities organizations is a plus.