Head of Claims
Human Capital House
Bahrain
The Role
Coordinates
managing new business underwriting.
- Ensures full information/data accuracy of initial Standard Risk Review and Statistics Sheets, and if necessary, completes necessary details as per assigned approved offer policy limits and authority level, in adherence to underwriting guidelines and Insurance protections, using existing modeling, pricing tools and methods.
- Reviews all Offer Summaries; makes quotation or counter proposals (if necessary) prior to sign as 1st level acceptance or decline as per assigned approved offer policy limits and authority level before submitting for counter-signature.
- For offers above approved authority level, reviews accuracy of Offer Summary, adds additional recommendations (if necessary), and provides 1st level signature prior to submission for counter-signature.
- As per assigned approved authority level, reviews for complete accuracy of final Offer Slip and Wording documents prior to signing as 1st or 2nd level signatory, or refers to higher authority level highlighting changes/discrepancies in Final Slip Summary.
- Supervises accuracy of DMS files and Oracle Data entries
- Ensures aggregate exposure entries and approved limit’s accuracy.
- Reports to department management any positive or negative effects of all market developments and proposes strategies to example the potential or diminish costs.
- Conducts Portfolio, capacity and profitability analysis
Existing Business/Renewals Underwriting.
- Reviews all Endorsement Standard Risk Review and Statistics Sheets within and below approved per existing offer policy limits and authority level with emphasis on technical results and premium settlement aspects and makes
- proposals (if necessary) prior to signing as 1st level acceptance or decline before submitting for counter-signature.
- Ensures accuracy and provision of pre-renewal portfolio/capacity and profitability statistics (and monitors continuous updates) per region/country/cedant/clients/risk to ensure evaluations are within Insurance protection practices and conducts portfolio, capacity, and profitability analyses.
- Ensures accurate Renewal Review & Statistics Sheets and Renewal Summary that are within or below approved offer policy limits and authority level to ensure renewal details adhere to underwriting guidelines and Insurance protections and provide 1st or 2nd signature for acceptance or decline the renewal.
- For renewals above authority level, reviews Renewal Summary, observations and suggestions and makes additional recommendations if necessary prior to submission of file to seniors for acceptance or decline.
- Ensures accuracy of Signed Lines Report for renewal acceptances submitted to U/W.
- Within assigned approved offer policy limits and authority level reviews Endorsement Summary from assigned distributed geographical and provides 1st level signature and submits for counter-signature.
- For endorsements above authority limit/level, studies/analyzes endorsements within assigned approved authority level and distributed geographical area against original offer, completes and signs Endorsement Summary and submits to higher authority.
- After reviews of Outstanding Status Report, proposes solutions to Finance to obtain outstanding from cedents/brokers.
- Proposes a formal plan for collection of outstanding accounts and settlement receipts with Market Unit leaders and department management.
- Studies, within authorized class of business, Retro renewals and provides an analytical report for department management.
Market Research/Intelligence/Analysis and Marketing.
- Acts as the primary point of contact for direct and/or brokered Insurance markets (specific producer accounts and its agency personnel).
- Reviews accuracy of complex business and statistical data produced on each cedent/ broker as per designated market area, and amends/proposes necessary changes/ modifications and integrate into Divisional database
- Analyze developing exposures and market trends.
- Checks and validates market data for new markets, products, and or segments and works with the Business Development & Risk Departments to identify new production opportunities and track competitor activity.
- Stays abreast of information on insurance laws, regulations and cedents’/clients’ importance and standings in their markets.
- Participates in the development of LOB and Product strategies by providing analysis and recommendations.
- Continuous cross-marketing of new business opportunities through existing and new lines of business within the Marketing Unit territory.
- Studies actuarial tables which provide statistical probabilities and prepares marketing strategies for their Marketing Unit territory in line with other parties involved in the same Marketing Unit.
- Prepares marketing strategies for their Marketing Unit territory in line with other parties involved in the same Marketing Unit.
Production/Market Reporting.
- Assists in gathering necessary statistical information through visit reports, team briefings and market updates, and communicates information to underwriting personnel.
- Reviews statistics/information accuracy for monthly/quarterly production, CBB, A.M. Best & S&P reports.
- Supports preparation or prepares various management reports and Labuan reports.
- Provides complex raw data and assists in departmental Business Plan preparation.
- Works with Underwriter to identify new production opportunities and stays current regarding competitors.
- Coordinate and oversees regular and periodic underwriting review and audits in line with internal audit
Managerial/Leadership Role.
- Demonstrates expert technical, professional, or job-related knowledge and skills required to guide effectively and provides hands-on training to team members of the section/ department when required.
- Expert understanding of the functionality of and capability in using underwriting systems (automated and manual) and ensures utilization of these systems by juniors.
- Adopts a range of management styles to get the best out of individuals, with sharing credit for good ideas or accomplishments, takes opportunities to delegate activities to develop their skills and knowledge, and the necessary authority for problem solving and decision making.
- Controls sections’ workload activities for maximization of section members’ time and resource usage, and provides guidance on section and departmental work-related aspects.
- Clearly communicates departmental expectation of team members to each team member, directs prioritization of departmental requirements to ensure target achievement, ensures solid information management for team focus and target achievement.
- Contributes extensively to development of departmental/sectional goals in line with business plan, and ensures achievement through establishment of a solid action plan.
- Support establishing and monitoring of individual performance management goals, and monitors team achievement progress with appropriate feedback on technical and non-technical work matters.
- Submits monthly sectional operational productivity reports to management with improvement or resolution recommendations to department management.
- Manages department/cross functional process inefficiencies through providing timely information about products, underwriting process and compliance requirements along with recommendations to ensure capable human resources and controls and for process improvements.
- Coaches and/or mentors staff on business issues (market conditions, competitors, relationship management, important developments in exposure, compliance or underwriting process, etc.).
- Ensures 100% development and implementation of departmental policies and standard operating procedures (SOPs), conducts periodic reviews and recommends necessary changes.
- Maintains a learning environment with monitoring sectional individual staff T&D plans for improvement progress
- Contributes to compilation of department budgeting and business planning.
- Plans closely with senior management staff recruitment, promotions, and re-deployment within the section anticipating short and long-term human capital requirements and establishment a departmental succession plan.
- Demonstrates solid technical and non-technical interviewing skills for appropriate sectional staff selection.
- Ensures good communication within the department, and addresses queries or concerns in a positive and sensitive way.
- Demonstrates good communication skills - the ability to listen, to articulate ideas, to convey departmental plans clearly to their team in the most appropriate manner, using the most effective language.
- Directs others to ensure that high quality results/relationships are developed and maintained with customers and client/brokers within their part of the business.
- Inspires colleagues to believe in the organization’s mission and values, and adopt a ‘can do’ attitude with support of others through the confidence they instill that difficult goals can be achieved.
- Manages and deals with performance issues in a timely and constructively manner.
- Ensures full information/data accuracy of initial Standard Risk Review and Statistics Sheets, and if necessary, completes necessary details as per assigned approved offer policy limits and authority level, in adherence to underwriting guidelines and Insurance protections, using existing modeling, pricing tools and methods.
- Reviews all Offer Summaries; makes quotation or counter proposals (if necessary) prior to sign as 1st level acceptance or decline as per assigned approved offer policy limits and authority level before submitting for counter-signature.
- For offers above approved authority level, reviews accuracy of Offer Summary, adds additional recommendations (if necessary), and provides 1st level signature prior to submission for counter-signature.
- As per assigned approved authority level, reviews for complete accuracy of final Offer Slip and Wording documents prior to signing as 1st or 2nd level signatory, or refers to higher authority level highlighting changes/discrepancies in Final Slip Summary.
- Supervises accuracy of DMS files and Oracle Data entries
- Ensures aggregate exposure entries and approved limit’s accuracy.
- Reports to department management any positive or negative effects of all market developments and proposes strategies to example the potential or diminish costs.
- Conducts Portfolio, capacity and profitability analysis
Existing Business/Renewals Underwriting.
- Reviews all Endorsement Standard Risk Review and Statistics Sheets within and below approved per existing offer policy limits and authority level with emphasis on technical results and premium settlement aspects and makes
- proposals (if necessary) prior to signing as 1st level acceptance or decline before submitting for counter-signature.
- Ensures accuracy and provision of pre-renewal portfolio/capacity and profitability statistics (and monitors continuous updates) per region/country/cedant/clients/risk to ensure evaluations are within Insurance protection practices and conducts portfolio, capacity, and profitability analyses.
- Ensures accurate Renewal Review & Statistics Sheets and Renewal Summary that are within or below approved offer policy limits and authority level to ensure renewal details adhere to underwriting guidelines and Insurance protections and provide 1st or 2nd signature for acceptance or decline the renewal.
- For renewals above authority level, reviews Renewal Summary, observations and suggestions and makes additional recommendations if necessary prior to submission of file to seniors for acceptance or decline.
- Ensures accuracy of Signed Lines Report for renewal acceptances submitted to U/W.
- Within assigned approved offer policy limits and authority level reviews Endorsement Summary from assigned distributed geographical and provides 1st level signature and submits for counter-signature.
- For endorsements above authority limit/level, studies/analyzes endorsements within assigned approved authority level and distributed geographical area against original offer, completes and signs Endorsement Summary and submits to higher authority.
- After reviews of Outstanding Status Report, proposes solutions to Finance to obtain outstanding from cedents/brokers.
- Proposes a formal plan for collection of outstanding accounts and settlement receipts with Market Unit leaders and department management.
- Studies, within authorized class of business, Retro renewals and provides an analytical report for department management.
Market Research/Intelligence/Analysis and Marketing.
- Acts as the primary point of contact for direct and/or brokered Insurance markets (specific producer accounts and its agency personnel).
- Reviews accuracy of complex business and statistical data produced on each cedent/ broker as per designated market area, and amends/proposes necessary changes/ modifications and integrate into Divisional database
- Analyze developing exposures and market trends.
- Checks and validates market data for new markets, products, and or segments and works with the Business Development & Risk Departments to identify new production opportunities and track competitor activity.
- Stays abreast of information on insurance laws, regulations and cedents’/clients’ importance and standings in their markets.
- Participates in the development of LOB and Product strategies by providing analysis and recommendations.
- Continuous cross-marketing of new business opportunities through existing and new lines of business within the Marketing Unit territory.
- Studies actuarial tables which provide statistical probabilities and prepares marketing strategies for their Marketing Unit territory in line with other parties involved in the same Marketing Unit.
- Prepares marketing strategies for their Marketing Unit territory in line with other parties involved in the same Marketing Unit.
Production/Market Reporting.
- Assists in gathering necessary statistical information through visit reports, team briefings and market updates, and communicates information to underwriting personnel.
- Reviews statistics/information accuracy for monthly/quarterly production, CBB, A.M. Best & S&P reports.
- Supports preparation or prepares various management reports and Labuan reports.
- Provides complex raw data and assists in departmental Business Plan preparation.
- Works with Underwriter to identify new production opportunities and stays current regarding competitors.
- Coordinate and oversees regular and periodic underwriting review and audits in line with internal audit
Managerial/Leadership Role.
- Demonstrates expert technical, professional, or job-related knowledge and skills required to guide effectively and provides hands-on training to team members of the section/ department when required.
- Expert understanding of the functionality of and capability in using underwriting systems (automated and manual) and ensures utilization of these systems by juniors.
- Adopts a range of management styles to get the best out of individuals, with sharing credit for good ideas or accomplishments, takes opportunities to delegate activities to develop their skills and knowledge, and the necessary authority for problem solving and decision making.
- Controls sections’ workload activities for maximization of section members’ time and resource usage, and provides guidance on section and departmental work-related aspects.
- Clearly communicates departmental expectation of team members to each team member, directs prioritization of departmental requirements to ensure target achievement, ensures solid information management for team focus and target achievement.
- Contributes extensively to development of departmental/sectional goals in line with business plan, and ensures achievement through establishment of a solid action plan.
- Support establishing and monitoring of individual performance management goals, and monitors team achievement progress with appropriate feedback on technical and non-technical work matters.
- Submits monthly sectional operational productivity reports to management with improvement or resolution recommendations to department management.
- Manages department/cross functional process inefficiencies through providing timely information about products, underwriting process and compliance requirements along with recommendations to ensure capable human resources and controls and for process improvements.
- Coaches and/or mentors staff on business issues (market conditions, competitors, relationship management, important developments in exposure, compliance or underwriting process, etc.).
- Ensures 100% development and implementation of departmental policies and standard operating procedures (SOPs), conducts periodic reviews and recommends necessary changes.
- Maintains a learning environment with monitoring sectional individual staff T&D plans for improvement progress
- Contributes to compilation of department budgeting and business planning.
- Plans closely with senior management staff recruitment, promotions, and re-deployment within the section anticipating short and long-term human capital requirements and establishment a departmental succession plan.
- Demonstrates solid technical and non-technical interviewing skills for appropriate sectional staff selection.
- Ensures good communication within the department, and addresses queries or concerns in a positive and sensitive way.
- Demonstrates good communication skills - the ability to listen, to articulate ideas, to convey departmental plans clearly to their team in the most appropriate manner, using the most effective language.
- Directs others to ensure that high quality results/relationships are developed and maintained with customers and client/brokers within their part of the business.
- Inspires colleagues to believe in the organization’s mission and values, and adopt a ‘can do’ attitude with support of others through the confidence they instill that difficult goals can be achieved.
- Manages and deals with performance issues in a timely and constructively manner.
Requirements
-
Min 15 years of experience in Insurance Markets and Claims practices.
- Bachelor's degree in relevant fields. Master's is an added advantage.
- Excellent Communication skills in English both written and verbal.
- Leadership qualities
- Interpersonal Skills
- Bachelor's degree in relevant fields. Master's is an added advantage.
- Excellent Communication skills in English both written and verbal.
- Leadership qualities
- Interpersonal Skills
About the Company
Human
Capital House was set up in the year 2013 with a vision to be a progressive
talent acquisition partner for organizations within the local and regional
market in the Middle East.
As
international markets get ever demanding, corporations globally are presented
with the challenges of attracting the right talent. Human capital retention and
recruitment remain a critical factor to the success of any company. Strategic
decision to recruit the right talent is a key issue to organization as wrong
candidate selection can potentially be disastrous to their efficiency.
The
critical aspect of choosing the right individual with the apt experience and
knowledge becomes more crucial as he/she would need to share the ambitions of
the employer, while fitting in to the new culture. Human Capital House has both
the experience and expertise to help its clients make the right choice of
selection. From understanding client requirements, through identifying and
assessing the candidates, our systematic approach strives to ensure successful
executive recruitment.
Operation Assistant Manager
Clarendon Parker Bahrain
Manama, Bahrain
The Role
-
Develop and maintain a long term beneficial relationship with all existing
tenants and retail Groups to ensure continued and future business
- Prepare daily, weekly, monthly report to Asset Manager and the Management
- Do a daily/weekly visits to all assets under the scope.
- To ensure smooth and positive relationship with the tenants, suppliers and contractors
- Inspect and supervise all operations and facility management that includes and not limited to Security, Cleaning & Maintenance, with the ability to evaluate maintenance scope of work and contributing maintenance information.
- The ability to read engineering drawings and supervise the tenants fit outs work.
- The ability to do the best judgment in approving the submitted drawings for fit outs or asset development.
- Develop and implement approved procedures and systems across all assets functions to ensure smooth co-ordination / co-operation among various internal departments to facilitate business needs and deliver positive customer and tenant experiences
- Prepare plans and schedules for regular and periodic maintenance in conjunction with relevant department heads and follow up on quality and execution.
- Follow up on the collection of duties owed from tenants and implementation of contractual terms
- Resolves complaints and demands of tenants and work to remove the causes of the complaint and respond to their requests within the legal and contractual obligations
- Develop and upkeep the corporate identity for the company and all assets as well.
- Ensure adherences to corporate brand guidelines
- Take steps to improve all stakeholder’s relations.
- Performs other tasks as assigned.
- Prepare daily, weekly, monthly report to Asset Manager and the Management
- Do a daily/weekly visits to all assets under the scope.
- To ensure smooth and positive relationship with the tenants, suppliers and contractors
- Inspect and supervise all operations and facility management that includes and not limited to Security, Cleaning & Maintenance, with the ability to evaluate maintenance scope of work and contributing maintenance information.
- The ability to read engineering drawings and supervise the tenants fit outs work.
- The ability to do the best judgment in approving the submitted drawings for fit outs or asset development.
- Develop and implement approved procedures and systems across all assets functions to ensure smooth co-ordination / co-operation among various internal departments to facilitate business needs and deliver positive customer and tenant experiences
- Prepare plans and schedules for regular and periodic maintenance in conjunction with relevant department heads and follow up on quality and execution.
- Follow up on the collection of duties owed from tenants and implementation of contractual terms
- Resolves complaints and demands of tenants and work to remove the causes of the complaint and respond to their requests within the legal and contractual obligations
- Develop and upkeep the corporate identity for the company and all assets as well.
- Ensure adherences to corporate brand guidelines
- Take steps to improve all stakeholder’s relations.
- Performs other tasks as assigned.
Requirements
-
Minimum Diploma in Engineering
- 3-5 years in the same field
Skills:
- Strong business judgment and good technical knowledge of Commercial Facilities
- Good understanding of facility management, preferred in retail facility management.
- Good understanding of tenant mix and zoning
- Good understanding of retail assets operations and associated policies and procedures
- Good understanding of marketing, advertisement and promotion
- Knowledge of managing leasing contracts and negotiation, exposure to tender management
- Understanding and experience in managing Service Level Agreements
- Strong negotiations and sales skills
- Excellent interpersonal skills
- Leadership and decision making qualities are essential
- Possess good English skills (both written and spoken) ability to speak Arabic an advantage
- Excellent Customer Service Skills
- A good team player with strong analytical skills
- Able to be trusted with confidential and sensitive company information
- 3-5 years in the same field
Skills:
- Strong business judgment and good technical knowledge of Commercial Facilities
- Good understanding of facility management, preferred in retail facility management.
- Good understanding of tenant mix and zoning
- Good understanding of retail assets operations and associated policies and procedures
- Good understanding of marketing, advertisement and promotion
- Knowledge of managing leasing contracts and negotiation, exposure to tender management
- Understanding and experience in managing Service Level Agreements
- Strong negotiations and sales skills
- Excellent interpersonal skills
- Leadership and decision making qualities are essential
- Possess good English skills (both written and spoken) ability to speak Arabic an advantage
- Excellent Customer Service Skills
- A good team player with strong analytical skills
- Able to be trusted with confidential and sensitive company information
About the Company
Established
in 1996, Clarendon Parker Bahrain is an International Recruitment Specialist
Consultancy based in Bahrains Seef Business District. We specialise in mid to
senior level professional, managerial, technical recruitment and staffing
solutions in Bahrain and beyond. Our multinational team of consultants are
experienced professionals within the fields they represent. Each consultant
brings strong industry links and knowledge to better understand your business
requirements. We know the market and we know our candidates!
Our
team of dedicated consultants specialise in the following industries:
Accounting,
Finance & Banking Logistics & Customer Service Secretarial & Administration
Human Resources & Recruitment Engineering & Construction IT/Telecom
Marketing & PR Oil and Gas
The
current range of services includes permanent and temporary recruitment,
recruitment advertising campaigns, employee satisfaction surveys, state-of-the-art
web-based recruitment technology and HR consulting services relating to
recruitment processes and activities.
Field Sales Executive
Hamdan Trading Group
Oman
The Role
Sales
Volume:
- Achieve and maintain the Company prescribed sales standards with regards to tyre sales operations, which improves and maintains company and brand image and prestige
Business Objectives:
- Achieve or exceed the allocated sales target- Customer Satisfaction:
- Achieve or exceed CSI objectives, thereby ensuring maximum customer satisfaction and repeat sales
Company Sales and Prospecting Systems:
- Adhere to company sales and prospecting systems. Achieve or exceed the target on number of prospects logged which ensures achievement of Company's business objectives and a larger
Customer/prospect base - Cash and Credit Control:
- Ensure that Company procedures are adhered to while handling cash and credit customers. This ensures safety of cash and minimal chances of any loss
Improvement and Upgrading:
- Constantly improve and update knowledge, especially product range, features, general automotive industry, new features and their benefits, technical developments, market trends, selling techniques and customer handling skills which in-turn enhance performance considerably
- Achieve and maintain the Company prescribed sales standards with regards to tyre sales operations, which improves and maintains company and brand image and prestige
Business Objectives:
- Achieve or exceed the allocated sales target- Customer Satisfaction:
- Achieve or exceed CSI objectives, thereby ensuring maximum customer satisfaction and repeat sales
Company Sales and Prospecting Systems:
- Adhere to company sales and prospecting systems. Achieve or exceed the target on number of prospects logged which ensures achievement of Company's business objectives and a larger
Customer/prospect base - Cash and Credit Control:
- Ensure that Company procedures are adhered to while handling cash and credit customers. This ensures safety of cash and minimal chances of any loss
Improvement and Upgrading:
- Constantly improve and update knowledge, especially product range, features, general automotive industry, new features and their benefits, technical developments, market trends, selling techniques and customer handling skills which in-turn enhance performance considerably
Requirements
-
Any Graduation, Bachelor of Business Administration(Management).
- Minimum 3 - 5 years of experience in Tyre Sales (relevant experience)
Specialist knowledge:
- Knowledge of GCC market related to Tyre Sales
- Good understanding of Tyre Industry
- Knowledge of product related to Dunlop tyres and its competatiors
Soft Skills and Personality traits:
- Good communicator with excellent negotiation skills
- Taking initiative and must be self motivator
Age Range: 23 - 35
Gender Preference: Male
Language Fluency: English, Arabic, Hindi
Current Location: Any GCC countries
- Minimum 3 - 5 years of experience in Tyre Sales (relevant experience)
Specialist knowledge:
- Knowledge of GCC market related to Tyre Sales
- Good understanding of Tyre Industry
- Knowledge of product related to Dunlop tyres and its competatiors
Soft Skills and Personality traits:
- Good communicator with excellent negotiation skills
- Taking initiative and must be self motivator
Age Range: 23 - 35
Gender Preference: Male
Language Fluency: English, Arabic, Hindi
Current Location: Any GCC countries
About the Company
Hamdan
Trading Group is part of one of the largest corporate conglomerates from the
Sultanate of Oman the Hamdan Group. The group commenced its business operations
in the year 1975 and has mirrored the growth of the Sultanate of Oman and
contributed significantly to the Omani economy.
Today
the group has more than fourteen well organized and diversified business units
each establishing a benchmark in its own field. Hamdan Trading Group consists
of three core divisions of business of the Hamdan Group Viz; Transport, Heavy
Construction and Dunlop Agency.
The
Transport Division is one of the largest and oldest in the Sultanate having the
most diverse fleet. The most challenging and complex logistics requirements
have been fulfilled by the division and has been awarded ISO certification.
The
construction Division is engaged in large scale Civil and Private construction
activities across the Sultanate employing over 300 full time workers.The Dunlop
agency of Hamdan Trading Group is the sole distributor of Dunlop Tires across
the Sultanate of Oman and it has currently 12 branches strategically located
for the convenience of the customer and many more branches are in the pipe-line
to be opened soon.
Senior Finance Controller
OCTAL SAOC
Muscat, Oman
The
Role
The
finance controller position covers several areas of responsibilities: i)
Supervision of subsidiary accounting functions, ii) consolidation and group
reporting, iii) External audit coordination (group level), iv) Group tax
coordination, v) Group internal audit coordination, vi) Group insurance
coordination.
* Supervision of subsidiary accounting
The Group Senior Finance Controller is the primary pivot between the legal entities and the group/HQ, and a key player in terms of internal control.
As a result, he:
- Supervises the consistency of the accounting methods used across the group (from the use of a common GL, Profit and cost centers, to the management reporting)
- Supervises the application of the IFRS rules by all the entities
- Checks the effective implementation of the Octal standard Procedures and Policies by performing regular audits on sensitive topics (cash reconciliation, NRV provision, purchasing approval workflow…)
- Supervises the organization of the group closing process
- Reviews thoroughly the consolidation package sent by the subsidiaries on a monthly basis
- Prepares the Group consolidated financial statements and provides the Group monthly financial package to Management
- Manages the KPIs relative to the Consolidation process (respect of deadlines, intercompany transactions matching…), proposes improvement oriented action items, supervises/collaborates to their implementation along with the local accounting teams
* Consolidation and Group reporting
The group Senior Financial Controller is also the architect of the consolidation process.
In more detail:
- He supervises the organization of the group closing process
- He reviews thoroughly the reliability/regularity of the consolidation package sent by the subsidiaries on a monthly basis
- He reviews on a regular basis (at least monthly) the intercompany transactions and balances, identify discrepancies, analyze them and decide on the adjustments to be booked by the local finance managers
- He prepares the Group consolidated financial statements and provides the Group monthly financial package to Management
- He provides business recommendations based on his analysis of the financial information provided by each subsidiary
- He manages the KPIs relative to the Consolidation process (respect of deadlines, intercompany transactions matching…), proposes improvement oriented action items, supervises/collaborates to their implementation along with local accounting teams
* Taxation
The Group Senior Financial Controller is the conductor of the group taxation:
- He checks the Octal internal documentation process (internal filing and archiving) is compliant with tax authorities’ requirements so that any inquiry/investigation can be handled in the time-line defined by the same authorities.
- He reviews the tax package prepared by local finance managers before submission to local authorities
- He supervises the tax filing process for all the legal entities of the group, and he carefully documents and archives at group level all filings and necessary back-ups.
- He identifies potential tax exposures derived from Octal business practices and organization in Oman and abroad, he alerts management, provides recommendation in order to mitigate/avoid the exposures and collaborates to the implementation of the necessary measures.
- In particular he makes sure that Octal intercompany transactions are compliant with international and local taxation rules wherever Octal is making business
- He supervises any tax inquiry or investigation performed by tax authorities in Oman and abroad
* Group audit coordination
The Group Senior financial controller directly coordinates with the group external auditors the organization of the external audit:
- Organization of local audits from choice of the local auditors up to year-end closing planning
- Organization of consolidation audit process so that its agenda is compatible with Oman statutory requirements (AGM 90 days after closing date)
- Handles directly or delegates with full authority all the fieldwork necessary for a successful and timely audit
- Prepares consolidated financial statements + notes in accordance with IFRS
* Group internal audit coordination
The organization of the Group internal audit is based on the following approach:
- the general frame of internal control and appetite for risk is defined by the Board of directors,
- The audit committee is mandated to assess the company’s risks and oversee the internal control related processes,
- The audit activities are delegated (outsourced) to an external audit firm
- The local finance managers are fully responsible for the implementation of the internal control, within the frame defined by the Group manual of procedures and policies, with the necessary local adjustments/adaptations
In this context, the Group Senior Financial Controller acts as a high level coordinator of the internal audit activities:
- He oversees the internal audit activities are moving forward in all legal entities
- He oversees audit results and management comments
- He oversees local management and local finance team are gradually implementing the changes recommended by the auditors
- He organizes a quarterly presentation to the Audit Committee, based on an overall progress report
* Group insurance coordination
The Group Senior Financial Controller controls that all risks are covered as per group policy, and that insurances are renewed on time:
- He conducts the RFQ process in case of renewal or new insurance required along with local finance managers
- He guarantees the consistency of the coverage and corresponding costs across the group
- He documents and archives at group level all insurance coverages including back-up documentation
* Supervision of subsidiary accounting
The Group Senior Finance Controller is the primary pivot between the legal entities and the group/HQ, and a key player in terms of internal control.
As a result, he:
- Supervises the consistency of the accounting methods used across the group (from the use of a common GL, Profit and cost centers, to the management reporting)
- Supervises the application of the IFRS rules by all the entities
- Checks the effective implementation of the Octal standard Procedures and Policies by performing regular audits on sensitive topics (cash reconciliation, NRV provision, purchasing approval workflow…)
- Supervises the organization of the group closing process
- Reviews thoroughly the consolidation package sent by the subsidiaries on a monthly basis
- Prepares the Group consolidated financial statements and provides the Group monthly financial package to Management
- Manages the KPIs relative to the Consolidation process (respect of deadlines, intercompany transactions matching…), proposes improvement oriented action items, supervises/collaborates to their implementation along with the local accounting teams
* Consolidation and Group reporting
The group Senior Financial Controller is also the architect of the consolidation process.
In more detail:
- He supervises the organization of the group closing process
- He reviews thoroughly the reliability/regularity of the consolidation package sent by the subsidiaries on a monthly basis
- He reviews on a regular basis (at least monthly) the intercompany transactions and balances, identify discrepancies, analyze them and decide on the adjustments to be booked by the local finance managers
- He prepares the Group consolidated financial statements and provides the Group monthly financial package to Management
- He provides business recommendations based on his analysis of the financial information provided by each subsidiary
- He manages the KPIs relative to the Consolidation process (respect of deadlines, intercompany transactions matching…), proposes improvement oriented action items, supervises/collaborates to their implementation along with local accounting teams
* Taxation
The Group Senior Financial Controller is the conductor of the group taxation:
- He checks the Octal internal documentation process (internal filing and archiving) is compliant with tax authorities’ requirements so that any inquiry/investigation can be handled in the time-line defined by the same authorities.
- He reviews the tax package prepared by local finance managers before submission to local authorities
- He supervises the tax filing process for all the legal entities of the group, and he carefully documents and archives at group level all filings and necessary back-ups.
- He identifies potential tax exposures derived from Octal business practices and organization in Oman and abroad, he alerts management, provides recommendation in order to mitigate/avoid the exposures and collaborates to the implementation of the necessary measures.
- In particular he makes sure that Octal intercompany transactions are compliant with international and local taxation rules wherever Octal is making business
- He supervises any tax inquiry or investigation performed by tax authorities in Oman and abroad
* Group audit coordination
The Group Senior financial controller directly coordinates with the group external auditors the organization of the external audit:
- Organization of local audits from choice of the local auditors up to year-end closing planning
- Organization of consolidation audit process so that its agenda is compatible with Oman statutory requirements (AGM 90 days after closing date)
- Handles directly or delegates with full authority all the fieldwork necessary for a successful and timely audit
- Prepares consolidated financial statements + notes in accordance with IFRS
* Group internal audit coordination
The organization of the Group internal audit is based on the following approach:
- the general frame of internal control and appetite for risk is defined by the Board of directors,
- The audit committee is mandated to assess the company’s risks and oversee the internal control related processes,
- The audit activities are delegated (outsourced) to an external audit firm
- The local finance managers are fully responsible for the implementation of the internal control, within the frame defined by the Group manual of procedures and policies, with the necessary local adjustments/adaptations
In this context, the Group Senior Financial Controller acts as a high level coordinator of the internal audit activities:
- He oversees the internal audit activities are moving forward in all legal entities
- He oversees audit results and management comments
- He oversees local management and local finance team are gradually implementing the changes recommended by the auditors
- He organizes a quarterly presentation to the Audit Committee, based on an overall progress report
* Group insurance coordination
The Group Senior Financial Controller controls that all risks are covered as per group policy, and that insurances are renewed on time:
- He conducts the RFQ process in case of renewal or new insurance required along with local finance managers
- He guarantees the consistency of the coverage and corresponding costs across the group
- He documents and archives at group level all insurance coverages including back-up documentation
Requirements
-
Certified Chartered Accountant preferably or MBA in finance/accounting
- 35/40 years old with a 10/15 year experience in finance/accounting fields
The candidate should have previous experience:
- In a manufacturing environment (make to order or commodity)
- As external auditor
- In handling an operational finance job (plant controller, head of accounting…)
- In handling tax related assignments
- In a company with finance best practice implemented, specifically in terms of
- High standard of internal control
- Use of an integrated ERP
- Ability to produce fast consolidated financial statements (full closing P&L + balance sheet D+4) under IFRS
- In a company with a complex consolidation scenario (several manufacturing and commercial entities)
- In managing staff
- 35/40 years old with a 10/15 year experience in finance/accounting fields
The candidate should have previous experience:
- In a manufacturing environment (make to order or commodity)
- As external auditor
- In handling an operational finance job (plant controller, head of accounting…)
- In handling tax related assignments
- In a company with finance best practice implemented, specifically in terms of
- High standard of internal control
- Use of an integrated ERP
- Ability to produce fast consolidated financial statements (full closing P&L + balance sheet D+4) under IFRS
- In a company with a complex consolidation scenario (several manufacturing and commercial entities)
- In managing staff
About the Company
OCTAL
is the largest PET resin manufacturer in the Middle East and the largest
integrated PET sheet manufacturer in the world.