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Bin Houfan Commercial Agencies Est.
 

Bin
Houfan Commercial Agencies Est. is a United Arab Emirates 100% local
company, a part of Al Hadef Group, has been established in 1973 to
serve the huge demand of the Oil & Gas sector companies in all
diverse whatever their needs. It has established and planted itself in
the market and built strong relationships in the Oil & Gas sector
business. BHCA has been successfully dealing with the ADNOC Group of
Companies and with reputed International Organizations as well. Bin
Houfan is specialized in the Oil & Gas field services. It is
involved in supplying & shipping materials to Onshore &
Offshore field for ADNOC Group of Companies; provided Seismic and
Geological Services, Training Courses and supplies High Skilled
Technical Manpower.

Job Description

PURPOSE OF THE JOB
Provides accounting support to the assigned project(s) on a day to day
basis including verification, processing and control of commitment,
expenditure & payments to Contractors/Suppliers in accordance with
the concerned Agreements and Company¡¦s Policies & Procedures.
Reviews financial terms and conditions of proposed Contracts by
monitoring compliance with accounting and financial policies
established by Company. Assists in establishing major & minor
projects accounting procedures in conformity with Company¡¦s financial
and accounting policies and assumes responsibility for implementing the
company¡¦s accounts payable policies ensuring adherence to the
Delegation of Authority and that all financial records including
original agreements are maintained
AREA OF WORK RESPONSIBILITIES RESULTS REQUIRED
1. Major / Minor Projects Contractors / Suppliers Verifies invoices of
Contractors/Suppliers in accordance with the Contracts, Purchase Orders
and Work Service Orders related to major & minor projects as well
as ensuring that all invoices are properly coded. Prepares the final
account of project related contractors / consultants and recovers back
charges, advance, retentions and applicable liquidated damages.
Effectively controls the financial activities of each and specific
phases of assigned major & minor projects until final acceptance.
Performs financial and accounting functions of the assigned Major and
minor Capital Projects.
Exercises financial control over project budgets, commitments,
expenditures and payments of assigned major & minor capital
Projects.
Ensures timely receipt, extension and release of bank guarantees,
insurance coverage pertaining to designated projects in coordination
with Treasury Department.
Prepares monthly / yearly accruals, reconciles advances and retentions.
To ensure that commitments are within approved budgets and payments are
within the approved commitments in accordance with Agreements and
Company approved Policies and Procedures.
To ensure payments of due invoices in accordance with the
terms/conditions of applicable Agreements (including quantity, quality,
duration, delivery, pricing, etc) and the Company¡¦s Policies &
Procedures.
Properly maintains the Project Accounts records of assigned major and
minor Projects.
2. Resolution of financial issues Resolves day-to-day issues on
financial aspects with major & minor Projects Contractors/Suppliers
in coordination with concerned Divisions. Reviews financial
clauses/aspects of Agreements including variations, claims, etc. To
ensure that Company¡¦s financial interests are adequately protected.
To assist in expeditious resolution of financial issues.
3. Reporting Prepares monthly cash forecast covering major & minor
Projects Contractors/Suppliers and submits for consolidation.
Prepares monthly reconciliation with Contractors/Suppliers accounts and
interfaces with general ledgers. To provide the major and minor
Projects cash forecasts and cash call requirements.
To facilitate Management decision-making and follow-up.
AREA OF WORK RESPONSIBILITIES RESULTS REQUIRED
4. Systems & Procedures Follows procedures, systems and methods for
proper financial control over assigned major & minor projects
including invoicing and payment procedures and comply with the monthly
requirements of accruals provisions, cash flow forecasts. Maintains and
controls the Accounts Payable System for Major & Minor Projects.
Recommends modifications with a view to improving Contractors/Suppliers
Accounting, Reporting, Accounts Payable System, Policies &
Procedures for major & minor Projects. Ensure compliance with the
Delegation of Authority and Company¡¦s Policies & Procedures. To
provide assistance in enhancing effectiveness in handling financial
activities of assigned major & minor Projects.
5. Financial records and Agreements Maintains all accounting and
financial records relating to assigned Major & Minor Projects.
Maintains custody of all original Agreements (Contracts, Purchase
Orders, Work Service Orders, etc.) with all assigned Major & Minor
Projects Contractors/Suppliers. To serve as the custodian of financial
records/ Agreements for assigned major & minor Projects.
SUPERVISION, PLANNING AND ORGANISING
„X Verification of invoices, timely and valid payments, cash flows,
accruals etc related to assigned major & minor Projects.
„X Organizes and maintains financial records and custody of all
original Agreements relating to assigned major & minor Projects. „X
Ensures timely payments to all Contractors / Suppliers, relating to
assigned Major & minor Projects. WORKING CONTACTS
Internally:-
Has regular contact with TAKREER Divisions up to section head level in
relation to invoices verification and financial aspects of commitments
/ Agreements.
Has regular contacts with Finance Division staff up to similar level on
matters related to budgets, funds, bank guarantees, payment
instruments, insurance requirements and systems & procedures.
Externally:-
Has a regular contact with Contractors / Suppliers relating to
invoices, payments and contractual matters.
Has a frequent contact with ADNOC Group Companies on common areas of
interest.
Has occasional contact with External / Internal Auditors in the review
of Contractors / Suppliers costs, records and other information as
required.

 

Desired Candidate's Profile Profile
1.
Bachelor Degree in Accounting / Finance ¡V professional certification
such as CA/CPA is preferable.
2. 8 Years work experience in Accounting / Finance of which at least 4
years should be in Oil / Gas Petrochemical sector or similar major
industries.
3. In-depth job capabilities / experience required in following areas:
„Ï Project Accounting „Ï Cost Analysis and Budgeting
„Ï Familiarity with Contract Terms & Conditions
„Ï Resolution of Financial Issues
„Ï Review / Development of Projects related Financial Procedures
„Ï Preparation of Management Reports
Ħ Other Key requirements:
„Ï Familiarity with major financial software packages
„Ï Very good knowledge of English
„Ï Very good communication & interpersonal skills
Experience
10 - 20 years

Education
Basic - Diploma
,
PG - Chartered Accountant

Nationality
Any Nationality

Gender
Any