Company Description
Emirates Electrical & Instrumentation Company LLC is a proud member of the Ghobash Group. For almost 20 years, we have made vital contributions to the Oil & Gas sector of the UAE, executing both onshore and offshore projects. Abu Dhabi National Oil Company (ADNOC) is one of our main clients along with Tier 1 and Tier 2 EPC contractors in this sector. We have the expertise to carry out full EPC&M services for electrical and instrumentation works and bring our intrinsic knowledge to measure and automate exploration, production, separation, refining processes, and distribution through our localized services.
Job Description
Job Purpose:
- To assist the finance department in managing the company’s financial resources including cash management, liquidity management, foreign exchange, risk management and regulatory compliance.
- To handle the trade finance transactions (mainly letters of credit and bank guarantees).
- To reconcile bank statements and maintain banking relationships.
Treasury Management
- Monitor and analyse the company’s daily cash position to cover cash commitments and coordinate/optimize the short-term and long-term borrowing
- Manage cash flow, income, liability obligations and assets
- Pool cash from all secondary bank accounts when necessary
- Adhere to month-end cut-off schedules for reconciliations of all cash-related accounts, all month-end processes, and all related journal entries
- Prepare daily, weekly and monthly reports on the cash position
- Assist with the company’s hedging program
- Assist with risk management by identifying/recommending strategies to minimize foreign currency, interest rate
- Assist with short- and long-term intercompany settlements and transactions
- Monitor and analyse bank fees and interest charges
- Maintain positive relationships with the banks
- Assist other departments (e.g., audit, accounting) with month-end and ad-hoc information requests as needed
- Work with company’s business units to prepare weekly/monthly/annual cash forecasts and other cash and borrowing projection models and establish metrics/key performance indicators
- Recommend and implement solutions to strengthen operational controls and incorporate best practices.
Trade Finance
- Preparation of banking documentation for letter of credit (LC) and collection bills, Amendments, TRs
- Checking of documents negotiated under LC.
- Process documentation required to be presented to banks for negotiation
- Follow up on all discrepancies, acceptance payment and any disputes
- Ensuring Bills under Usance LC paid on due date by applying TR or requesting the same to be included in daily cash planning.
- Checking of Bank Charges pertaining to LCs / TR Interest Rates.
- Vetting texts for bank guarantees (both internally and with the relevant banks) and concluding on the acceptable text with the suppliers/customers.
- Processing the bank guarantee requests, collection of guarantees from the banks and delivery of guarantees to the beneficiaries
- Maintaining a track record of all open trade finance items
- Ensuring the collection and cancellation of all bank guarantees after expiry (whenever the guarantees cease to be required)
Annual Budget
- Assist Senior FM in Preparation of Cash Budget.
Banking Facilities
- Review banking facilities documentation (renewals) for the Company and ensure in line with the Company’s requirements.
- Manages the requirements of the banks for compliance with financial conditions / covenants.
Qualifications
- Bachelor’s degree in Finance, Banking, or any relevant field from a recognised University or Institution
Additional Information
Skills & Professional Requirements:
- Good MS Office skills particularly strong capabilities in MS Excel.
- Working experience Knowledge on Oracle ERP
- Able to work independently and highly meticulous.
Experience Requirements:
- Minimum 3 years’ similar experience in a financial institution or a private entity
Attributes and Behaviours:
- Excellent strategic planning skills and able to interact with all levels
- Accuracy and attention to detail
- Aptitude for numbers and quantitative skills