Job Description

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Strategy and Business Planning

Develop the Finance Section Strategy in line with the GCAA strategy to include the budgeting process – see Budgets and Plans

Leadership

Manage the effective achievement of Support Services section objectives through the leadership of the Finance and Budgeting section – setting individual objectives, managing performance, developing and motivating staff, providing formal and informal feedback and appraisal – in order to maximise subordinate and sectional performance.

Organisation Structure

Define an optimum organisation structure for the Finance Section so that resources are optimally utilised and communication can take place in an efficient manner.

Make recommendations as to job requirements and any additional resources to ensure effectiveness of the functions.

Budgets and Plans

Prepare and recommend the Finance and Budgeting section budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, and areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalised upon.

GCAA Budget

Direct the preparation and consolidation of the annual and long-term Capital, Operating and Revenue budgets ensuring adherence to requisite guidelines and time targets.

Review the budget submitted by department / section heads and finalise the numbers after arranging budget meeting with department / section heads.

Align them to approved strategic plan of the respective departments and make necessary recommendations to management to enable them to take effective decision before final submission to Board of Directors.

Monitor the overall budget implementation to ensure that there is effective budgetary control over approved budgets, ensuring targets are met or corrective actions are taken.

Design and Implementation of Financial Policies, Procedures and Controls

Design and implement financial policies, procedures and controls and ensure the application of accounting and auditing standards in line with International Accounting and Financial Reporting Standards (IFRS), chart of accounts and best practice.

Accounting Records and Financial Statements / Reports

Prepare / supervise and ensure preparation and effective and efficient maintenance of accounting records (sub-ledgers and General Ledgers) and financial statements relevant to the sector’s activities in line with company’s accounting policies, chart of accounts and related accounting principles and practices.

Supervise the preparation of timely and accurate departmental reports of GCAA to meet company and department requirements, policies and standards.

Provide a reporting system that assists managers to perform their functions making appropriate and rapid decisions based on the best financial information available.

General Ledger Reconciliation and Working Capital mainly Receivable and Payable Management

Supervise the process of General Ledger Balance to ensure accuracy of the reported numbers, bank reconciliation and cash accounting to enable effective cash management.

Ensure Working Capital, mainly Receivables and Payables, are effectively and efficiently managed to ensure invoices are processed accurately and in a timely manner, maximum credit facilities and effective payment terms are achieved, debts are collected on a timely basis and are reviewed to ensure they are effectively followed up to reduce the probability of write-offs thereby ensuring the impact on the Authority’s working capital and bottom line are positive.

Cash Flow and Insurance

Prepare / review the cash flow statements and forecasts and carry out necessary liaison with banks.

Oversee the implementation of insurance to ensure that the company’s assets and liabilities are protected with adequate insurance coverage in line with requisite guidelines.

Finance Systems

Utilise and supervise the utilisation of the ERP system to its maximum potential and review performance on a regular basis in order to suggest improvements or customisation, if necessary.

Manage and maintain the billing systems i.e. DML and FSS Fees and review the system functionality and recommend upgrade for optimal effectiveness and efficiency.

Activity Based Costing and Review of Fees

Introduce and implement the activity based costing system within the Authority.

Introduce and implement necessary policies and procedures related to the implementation of activity based costing system.

Ensure the processes are integrated with the ERP System to produce desired results.

Generate and review required reports to identify the cost associated with services provided and review the existing fees charged and determine the optimal fees to charge using the cost model.

Identify and recommend new fees either for existing or new services provided by the Authority.

Management of Projects

Member of the Project Committee, responsible for the financial feasibility study of any capital projects and financial evaluation of any tenders and contract management approving payments and closure of projects for either expense or capitalisation in line with the Authority’s financial policies.

Policies, Systems,  Processes and Procedures

Recommend improvements to departmental policy and direct the implementation of procedures and controls covering all areas of Finance and Budgeting activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service to both internal and external stakeholders.

Ensure professional standards of financial management are achieved and maintained within all areas of the Authority

Continuous Improvement

Stimulate subordinates and contribute to the identification of opportunities for continuous improvement of section systems, processes and practices taking into account ‘international best practice’, improvement of business processes, cost reduction and productivity improvement.

Financial Audit of the Authority

Responsible for maintaining smooth relations with State Auditors, External Auditors and Internal Auditors.

Ensure books of records, reports and systems are available at all time for financial audit by above auditors.

Review of Auditor’s report and provide comments and implement recommendations where applicable in the interest of the Authority.

Knowledge and Experience:

Master’s Degree with 7 years of experience, or Bachelor Degree with 9 years in a relevant area, or as defined in the Job Description Matrix.

Commercial knowledge related to aviation industry is preferable.

Skills:

Problem solving

Decision making

Planning and organising

Time management

Interpersonal and people-management

Quantitative

Communication.

Skills Required

• Communication
• Problem Solving