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Finance Manager (Fly Arna)

Date:  02-Dec-2021
Company:  Air Arabia PJSC (G9)
Location: 

Yerevan, AM

Country:  AM

About Fly Arna

Fly Arna - Armenian National Airlines - invites you to explore a career with us and the serve the community with a passion for excellence.

Fly Arna, is a joint venture between Armenia National Interests Fund (ANIF) and Air Arabia Group, the leading low-cost carrier (LCC).

Job Purpose

Manages Airline Company’s accounts for all costs, revenue accounts, taxation, management accounts, ensuring compliance with approved accounting standards and procedures.

Manages revenue and cost accounting within Group. Interacts with internal and external parties such as government departments, banks, auditors, GSAs & travel agents, tax authorities and suppliers to facilitate or resolve function-related matters as per company adopted policies and procedures.

Key Result Responsibilities

  • Manages Company’s accounts for all costs, revenue accounts & related activities in coordination with Stakeholders and external parties ensuring timeliness and accuracy in executing and recording all transactions such as payments, returns, retention and reporting as well as compliance with requirements and regulations.  
  • Manages General Ledgers, subsidiary ledgers, suspense accounts etc. to ensure financial transaction are posted & recorded accurately.
  • Delivers IFRS compliant, audited and consolidated Financial statements.
  • Responsible for consolidation of Financials for all group companies.
  • Subject matter competent for application of Financial ERP system with integration of multi-functional systems.
  • Responsible for implementing and applying correct VAT accounting and its adherence in coordination with Taxation section.
  • Manages taxation function to contribute towards designing the taxation process flow & outputs. Monitor teams for timely filing of returns, handle any tax audits and ensure all statutory compliance. Manages and handles all tax authorities and other statutory compliance bodies.
  • Manages supplier payments and ensures controls are in place for accurate payment in accordance with agreed terms and conditions.  Interacts and coordinates with Stakeholders, vendors, GSAs & Travel agents and others to support them with any queries on function-related matters.
  • Interact with bankers in support of Group Treasury function with reference to funding etc
  • Responsible for all Revenue channels passenger, cargo, credit cards etc across all entities. Achieve all receivables as per credit terms, establish strong internal controls for no leakage of revenues and ensure cash inflows for effective cash management. GSA / Travel Agent management for adherence to all contractual obligations and credit terms including provision of valid bank guarantees.
  • Generate all information flow related to area of suppliers / any other costs/ revenues / investing and financing areas for effective cash flow statement. Responsible to prepare the Cash Flow forecast and submit and discuss with Treasury functions at Group Level.

  • Utilizes and maintains available records to monitor Direct Sector Costs accounts and payments; on monthly basis, analyses rates of components in purchase orders and invoices against previous purchases, and in accordance with agreed contracting terms to highlight variations.
  • Responsible to prepare the monthly management reports in accordance with Group policies and procedures and discuss with Line Manager and Group Management Accounts.
  • Responsible to adhere to monthly closing and other periodical timeliness in accordance to Group policies.
  • Conduct in-depth reviews & analysis of various component costs, Vendor SPA’s with objective to bring cost savings to bottom line. This also involves expertise insight on financial terms review in supplier contracts to enable effective decision making.
  • Coordinates with internal and external auditors on schedules to facilitate their audit reviews and ensure smooth inspection as per adopted procedures. 
  • Partners with Stakeholders to prepare budgets for the direct sector costs; compares actual costs versus estimates, analyses variations and highlights areas of difference on monthly basis. Communicates results to department heads to ensure proper budgeting and reasoning for any cost increase.
  • Manages the skills and performance of the corresponding team with focus on knowledge sharing, process improvement as well as career enhancement. Motivates, coaches, mentors and monitors the overall performance of the team members to achieve high standards in delivering results.
  • Agrees objectives and identify KPIs for the respective team members; ensures his/her subordinates are fully aware and knowledgeable of their targets.  Provides on-going support and supervision to the team members to assist them achieve their goals and bridge any gaps identified.
  • Ensures the available resources such as manpower, systems, tools and procedures are properly managed and utilized to achieve optimal productivity in line with Company’s financial objectives.
  • Generates function related reports such as the MIS reports to be presented to Management on regular basis. Ensure financial planning and reporting highlights with Head of department,

Qualifications (Academic, training, languages)

  • Chartered Accountant/ ACCA/ CPA required.
  • Professional certificates or trainings related to Ancillaries are considered an advantage.
  • Proficient in Microsoft Office- Advanced Excel, Access, Word, Power Point skills, Internet and Web Search.
  • Cost Control, Compliance, Budgeting and Auditing certificates and trainings are an added value and some may be treated as conditional for this role.
  • Fluent in English Language.

Work Experience

  • 5+ years of experience in corporate finance/accounting and taxation with a minimum of 2 years in a managerial or senior role leading a team preferred.
  • He/she must have worked in a mid-sized organization operating on a regional/multinational level, preferably in Airlines/Travel/Tourism industry; experience with low-cost airline would be an advantage.
  • Knowledge & experience of applying IFRS is a pre-requisite
  • Possesses comprehensive knowledge in financial control and accounting fundamentals such as SFAS (Statements of Financial Accounting Concepts).
  • Strong math and numerical reasoning ability and high accuracy are mandatory for this role.
  • Sound knowledge of tax compliance, laws, regulations, and other governmental regulations is a pre-requisite.
  • Experienced in a computerized accounting environment with an exposure on financial models and the new technologies in the industry.
  • Excellent financial, analytical, and reporting skills.
  • Capable of meeting deadlines without compromising quality of outcome.
  • Proven skills in analyzing data, identifying irregularities, and recommending corrective measures.
  • High attention to details, confidentiality, and ability to adhere to procedures and set measures are a must.
  • Cost-oriented, possesses effective negotiation and problem-solving skills.

Additional Information

About ANIF
The Armenian National Interests Fund (ANIF) was established in 2019 with a mandate to consolidate and effectively manage the ownership of Armenian state-owned enterprises, to promote export growth and investments in Armenia by providing co-financing in large-scale projects at their initial stage of development. ANIF focuses on managing a portfolio of strategically important assets in Armenia and investment activities. Its strategy is aimed at attracting and supporting private investors. ANIF co-invests in large-scale investment projects with an experienced partner or specialist operator. 


About Air Arabia
Air Arabia (PJSC), listed on the Dubai Financial Market, is the Middle East and North Africa’s leading low-cost carrier (LCC) operator. Air Arabia commenced operations in October 2003 and currently operates a total fleet of 58 new Airbus A320 and A321 aircraft, serving some 170 routes from five hubs in the UAE, Morocco and Egypt. Air Arabia is an award-winning airline that focuses on offering comfort, reliability, and value-for-money air travel.

 

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