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Finance Manager

Job Title: Finance Manager
Contract Type: Permanent
Location: Erbil, Iraq
Salary: Negotiable
REF: 74
Contact Name: Aheng Ashti
Contact Email:
Job Published: over 1 year ago

Job Description

On behalf of a local Oil & Gas Service Company we are seeking a highly experienced Finance Manager to be based in their offices in Erbil. The successful candidate must have 6-7 years’ experience in finance positions and have at least 3-4 years’ experience in Oil & Gas companies in finance senior positions. Must have excellent skills in SQL accounting Program, Outlook, Excel and Word. Languages that are required are: Arabic or Kurdish & Fluent English both written and verbal.


Duties & Responsibilities of Finance Manager:

Basic Function: The functions of the finance manager position can be considered identical to a treasurer position or as a "light" treasurer who has additional analysis responsibilities that include support of the management team in a variety of operational decisions. This job description assumes the latter view of the finance manager position. As such, the finance manager should manage funds in such a manner as to maximize return on investment while minimizing risk, and while also ensuring that an adequate control structure is in place over the transfer and investment of funds. Further, the finance manager engages in financial analysis in such areas as forecasting, budgeting, engaging in cost reduction analysis, and reviewing operational performance. The position is considered to be more senior than the financial analyst position.

Principal Accountabilities:


  1. Maintain a documented system of accounting policies and procedures
  2. Manage outsourced functions
  3. Oversee the operations of the treasury department, including the design of an organizational structure adequate for achieving the department's goals and objectives

Funds Management

  1. Forecast cash flow positions, related borrowing needs, and available funds for investment
  2. Ensure that sufficient funds are available to meet ongoing operational and capital investment requirements
  3. Use hedging to mitigate financial risks related to the interest rates on the company's borrowings, as well as on its foreign exchange positions
  4. Maintain banking relationships
  5. Assist in determining the company's proper capital structure
  6. Arrange for equity and debt financing
  7. Invest funds
  8. Recommend appropriate dividend issuances, based on historical dividend patterns and expected cash flows
  9. Recommend appreciate dividend issuances, based on historical dividend patterns and expected cash flows

Financial Analysis

  1. Engage in ongoing cost reduction analyses in all areas of the company
  2. Review the performance of competitors and report on key issues to management
  3. Engage in benchmarking studies to establish areas of potential operational improvement
  4. Interpret the company's financial results to management and recommend improvement activities
  5. Review company bottlenecks and recommend changes to improve the overall level of company throughput
  6. Participate in target costing activities to create products that meeting predetermined price goals
  7. Assist in the determination of product pricing in relation to features offered and competitor pricing
  8. Compile key business metrics and report on them to management
  9. Manage the capital budgeting process, based on constraint analysis and discounted cash flow analysis
  10. Create additional analyses and reports as requested by management.

Financial Planning & Budgeting

  1. Preparing Budgets for ongoing work and special projects, in consultation with appropriate staff and funders
  2. Presenting budgets to the Management for approval
  3. Ensuring accurate records of actual income and expenditure are maintained, as compared to budgeted income and expenditure, and adjusting financial forecast as appropriate.
  4. In case of cash flow problems (not having enough money to pay bills when they are due) deciding priorities for paying and negotiating for late payment if necessary.

Financial Reporting

  1. Reporting, in writing, to the Management on the organizations of financial position.
  2. Preparing and presenting financial reports and accounts when required
  3. Ensuring that the organization is adequately insured and that the policies are regularly reviewed to ensure that the cover is still adequate and the premiums competitive
  4. Maintain an appropriate system for calculation, payment and the recording of salaries including tax.
  5. Managing the selection of auditors, reviewing their services to the organization.
  6. Ensuring the auditor is providing an adequate level of advice to the organization which is agreed and set out in auditors management letter
  7. Ensuring that the end of year accounts prepared by the auditor.
  8. Generate financial reports related to budgets, account payables, account receivables, expenses,,, etc.

Banking, Book-keeping and Record keeping

  1. Serving a signatory for the organization’s bank accounts
  2. Ensuring there are proper systems for receiving and paying out cash and cheques
  3. Setting up appropriate book-keeping and petty cash systems, and ensuring related documentation is kept
  4. Ensuring membership subscriptions are collected and proper membership records are kept
  5. Ensuring receipts are issued, if required for money received by the organization
  6. Ensuring all bills are paid
  7. Ensuring every one handling money for the organization keeps proper records and documentation.

Control of fixed Assets & Stock

  1. Ensuring the organization keeps proper records of materials and supplies used in its work
  2. Establishing systems for stock control and re-orders
  3. Ensuring the organization keeps proper records of its equipment and vehicles, including date of purchase, supplier, value, model and serial number
  4. Ensuring the organization keeps proper financial records relating to property (buildings and land) it owns or rents

Additional duties

  1. Establish key financial strategies to enhance business profitability
  2. Ensure financial team follows company policies and regulations
  3. Participate in performing evaluation of finance staff and conduct counseling to identify skill development needs
  4. Perform account reconciliation activities
  5. Ensure accurate calculation and distribution of salaries and other benefits to employees.

Languages: Arabic or Kurdish & Fluent English

Computer Skills: SQL Accounting Program, Outlook, Excel & Word

Degree: Bachelor’s Degree in Finance

Experience: 6-7 years in Finance. 3- 4 years worked as Finance Manager in Oil & Gas Companies. 


Note: Please only apply if you have the requiremnets mentioned in the job description, as only suitable candidates will be contacted.