Accountant

5 days ago

Karachi, Sindh, Pakistan PARCO - Pak-Arab Refinery Limited Full time 2,000,000 - 2,500,000 per year

Pak-Arab Refinery Limited (PARCO), an integrated energy conglomerate, is a Joint Venture between Pakistan and Emirate of Abu Dhabi. PARCO owns and operates Pakistan's most modern refinery, over 2,000 kms of pipeline network, strategic storage facilities and marketing operations. The Company has Joint Ventures with renowned international companies and is continually following an aggressive growth strategy with planned expansions, acquisitions and penetration into new markets.

Qualification & Experience:

Minimum 16 years of education in Accounting, Finance, or a related discipline, with up to 6 years of relevant experience in core Finance functions such as Accounts Payable, General Accounting, Treasury, and Receivables Management.

Responsibilities
:

  • Manage relationships with banks, monitor services and fees, and resolve quality issues.
  • Oversee cash management for customer collections, including cash forecasting, daily reviews, and providing recommendations.
  • Develop systems and procedures to improve financial management and reduce borrowing costs.
  • Manage short-term and long-term borrowing requirements and propose investment options for surplus funds.
  • Handle vendor payments (local and foreign) and review monthly bank reconciliation statements.
  • Maintain ownership of relevant General Ledger accounts.
  • Manage petty cash transactions.
  • Ensure proper audit trails and resolve auditor queries.
  • Prepare schedules for income, expenses, liabilities, and receivables to support monthly and annual closings.
  • Supervise the receivables team and ensure timely collection of customer dues, including aging analysis and credit review meetings.
  • Review and ensure timely customer account reconciliations.
  • Negotiate FX transaction rates with banks.
  • Prepare agreements for the company's financing arrangements with banks.
  • Maintain and update security charges over the company's current and fixed assets.
  • Support budgeting and financial planning processes, including preparation, monitoring, and variance analysis of budgets.

PARCO is an equal opportunity employer. We value diversity and encourage candidates from all backgrounds to apply. Our commitment to a conducive work environment is designed to attract and nurture top talent.

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