Chief Accountant

1 month ago

Dubai, United Arab Emirates Contech Full time

The Role
**Job Summary**: The Chief Accountant is responsible for managing and coordinating the accounting functions of the contracting company. This includes overseeing general ledger accounting, project cost management, accounts payable and receivable, payroll, and financial reporting. The Chief Accountant ensures financial data integrity and compliance with regulatory standards, playing a critical role in financial planning, budget control, and cash flow management. Key Responsibilities: Financial Accounting and Reporting Oversee all financial accounting operations, including the general ledger, accounts payable/receivable, payroll, and asset management. Prepare monthly, quarterly, and annual financial statements, ensuring compliance with accounting standards (e.g., IFRS, GAAP). Develop and maintain internal controls to safeguard company assets and ensure accurate financial reporting. Project Cost Accounting and Budget Management Track project-specific costs and maintain detailed cost records, ensuring expenses align with budgets. Collaborate with project managers to review budgets, forecasts, and project expenditures, and provide advice on cost control. Conduct project cost analysis and provide accurate financial information for project progress reporting. Cash Flow and Treasury Management Monitor company cash flows and manage short-term and long-term cash requirements to meet operational needs. Prepare cash flow forecasts to support project funding and ensure efficient use of resources. Oversee banking relationships and manage bank accounts, ensuring liquidity for project activities. Tax and Regulatory Compliance Ensure timely filing of taxes, including VAT, corporate income tax, and payroll taxes, in compliance with local laws. Keep up-to-date with changes in tax regulations, especially those affecting the contracting and construction industries. Coordinate with external auditors and regulatory bodies to ensure audit compliance and timely submissions. Internal Controls and Audit Develop and maintain robust internal controls, procedures, and policies to prevent fraud, errors, and inefficiencies. Lead internal audits, identify financial discrepancies, and implement corrective actions. Prepare for and coordinate annual external audits, ensuring that all necessary information is provided. Payroll and Subcontractor Payments Oversee payroll processing, ensuring accuracy and timeliness in payments to employees and compliance with labor laws. Manage payment schedules for subcontractors, verifying invoices against completed work and maintaining good cash flow. Financial Planning and Analysis Provide financial insights and analysis to senior management, supporting strategic decision-making. Assist in the preparation of annual budgets, financial forecasts, and variance analysis. Conduct profitability analysis for projects and provide financial projections for new business opportunities. Team Leadership and Development Supervise and mentor a team of accountants and support staff, providing guidance on accounting policies and procedures. Conduct training sessions to enhance the team's technical knowledge and skills. Foster a collaborative team environment and promote professional development.
**Requirements**:
**Skills and Qualifications**: Education: Bachelor’s degree in Accounting, Finance, or related field; Master’s degree is a plus. Professional Certification: CPA, ACCA, CMA, or equivalent certification preferred. Experience: Minimum 7-10 years of accounting experience, with at least 3-5 years in a construction or contracting environment. Technical Skills: Proficiency in accounting software (e.g., SAP, QuickBooks, Oracle) and Microsoft Office Suite, especially Excel. In-depth knowledge of project cost accounting and construction industry financial practices. Familiarity with tax regulations and legal requirements for construction businesses. Analytical Skills: Strong analytical and problem-solving abilities; ability to interpret complex financial data. Communication: Excellent verbal and written communication skills for reporting and liaising with project managers and executives. Attention to Detail: High degree of accuracy and thoroughness in financial work.
About the company
Established in 1995 in Dubai, UAE, Contech Engineering has emerged as a leading provider of specialized steel fabrication services. The company has rapidly grown since its founding, garnering trust and recognition from government and corporate sectors alike. Contech Engineering's portfolio showcases its proficiency in delivering highly technical projects, including the fabrication of intricate potshells and superstructures for the aluminum smelting industry, specialized tanks and equipment for the oil and gas sector, as well as steel structures and bridges for the construction sector. Contech Engineering's operations are based out of two key locations: the Jebel Ali Industrial Area in Dubai and Al Mafraq in Abu Dhabi. The Jebel Ali f

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