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Treasury Accountant

Company Name: GMG
Employment Type:Full Time
Location: Dubai
Experience: 2-5 years
Degree: Bachelor
Nationality: Any
No. Of Vacancies:1
Job Description:
About the Role:
The role holder is responsible for executing the various activities pertaining to accounts payable, fixed assets, accounts receivable, general ledger, treasury, payroll and financial planning for GMG business units under the guidance of the manager/superiors. The role holder is responsible for executing day today tasks as assigned by the superiors in compliance with the policies and procedures of the GMG group. The role holder’s main area of focus will be treasury.

Core Responsibilities:
General Ledger
Executes all monthly general ledger procedures including journal entry preparation, discrepancy resolution, and account analysis for GMG’s respective business unit:
Entering direct journal vouchers (e.g. related to Payroll)
Reconciling Sub ledgers with General Ledger
Informs and follows up with the Manager if reconciliation between general ledgers accounts and subsidiary ledgers are not met. Records all adjusting, closing and reversing entries to attain reconciliation in such cases (after the requisite approval)

Accounts Payable
Executes all monthly accounts payable procedures, for GMG’s respective business unit, including preparing journal vouchers and batches for entry of payment transactions (payments, debit notes, credit notes, invoices) related to accounts payable into General Ledger with respect to all the purchases, expenses and goods outwards:
Entering invoices into the system
Invoice matching
Invoice discrepancies
Creating payments (Cheques, Cash etc. as required) or applying prepayments
Creating debit/Credit Notes
Stopping payments
Payment Reconciliation
Prepares accounts payable cheques and wire transfers with payment vouchers for necessary approval
Periodically makes reconciliations with major suppliers/vendors/contractors and arranges for balance confirmations

Accounts Receivable
Executes all monthly accounts receivables procedures, for GMG’s respective business unit, including preparing journal vouchers and batches for entry of receivables transactions (receipts, debit notes, credit notes) into the General Ledger
Entering information into the system
Payment discrepancies
Maintaining customer files
Following up on collections
Receives payments and receipts, record them and performs matching and remittance

Fixed Asset
Receives invoices of fixed assets in order to match with the addition/capitalization of a new fixed asset into the system

Assists with the preparation of the yearly statement of capital assets written off during the year for different departments to show how they were disposed of for management information

Performs daily reconciliation between banks accounts (all currencies) as per the bank statement and own records of treasury transactions
Conducts, periodic, maturity analysis for the lines of credit obtained by GMG Group and updates the manager to ensure the availability of funds to meet the matured amount
Executes as per the policies for hedging strategies and for managing foreign currency requirements
Directs the cash balances available in GMG Group’s various (Banks/Correspondences) accounts by all currencies and performs the re-allocation of funds to ensure that the optimum return on the GMG Group’s funds is always attained

Processes salary and benefits entitlements and ensures authorization of monthly payroll as per established policies and procedures

Verifies a variety of payroll-related information (e.g. time sheets, direct deposits, wage attachments, benefits, etc.) for the purpose of ensuring accurate distribution of funds and payroll and escalates any discrepancy to the senior authorities

Executes as per the established controls and procedures while performing reconciliation checks in the payroll processing and payments to ensure the quality of delivery and compliance with standard processes

Provides the interpretation of the payroll policy related to employee entitlements and concerns regarding benefits, leave, and pension as and when required in collaboration with the Human Resources Department

Financial Planning
Prepares and submits financial analysis to the departments and develops all types of short and long-term financial projections/forecasts/plans in accordance with the department’s strategies and GMG’s overall objectives and directions, as guided by the seniors

Conducts feasibility studies, financial due diligence, financial modelling & valuations, financial projections and other types of financial analysis to support decisions related to acquisitions, projects development etc.
Prepares forecasts of demand and estimates of revenue for the group, assigned business unit, or assigned stores in the group
Performs budgeting activities in compliance with GMG’s approved Budgeting Policies & Procedures reflecting the department’s strategies and GMG’s overall objectives and directions

Other responsibilities
Prepares the necessary monthly reports and the requested ad-hoc summaries/reports as may be requested by the seniors, related to –

Sales, Margins
Stocks, Inventory, Port Shipments, Distributions, Freight, Customs, Shipment Delays etc.
Budget Utilization
Business Performance including Cash Flow, P&L statements
Retail Productivity Metrics

Coordinates with auditors as needed on research/resolution of any accounting issues/discrepancies
Executes all monthly fixed assets procedures including maintaining the Fixed Assets master file to ensure the accurate tracking of all fixed assets for the GMG’s respective business units

Bachelor’s degree in Finance, Accounting or Business Administration
A Master’s degree in Finance, Accounting or Business Administration, is preferred
Knowledge of International Accounting Standards (e.g. IFRS)
Knowledge of Accounting systems and SAP software