Functional Consultant - Fusion Financials - Dubai

Job Role: Functional Consultant - Fusion Financials (TEMP/Contractor)

Experience: 5 - 7 years

Locations: Dubai (Onsite)

Duration: Long Term

Job Purpose

• We are seeking an experienced Functional Consultant with strong expertise in Oracle Fusion Financials and a deep understanding of accounting and reporting within the Banking, Financial Services, and Insurance (BFSI) sector.
• The ideal candidate should possess a solid grasp of IFRS, P2P processes, VAT, project management, fixed accounting, fixed assets, lease accounting (IFRS 16), and budgetary controls.
• The role will focus on ensuring smooth implementation and UAT for financial modules within the Fusion Financials suite.

Key Responsibilities

• Assist in managing the implementation of Oracle Fusion Financials, ensuring alignment with the bank's accounting and reporting requirements.
• Participate and advise on accounting rules and related attributes in AFCS and Fusion Accounting Hub.
• Work closely with the finance and payment teams to streamline the Procure-to-Pay (P2P) process, ensuring compliance with VAT regulations and preparing the test scenarios for User Acceptance Testing (UAT).
• Provide expertise on International Financial Reporting Standards (IFRS) to ensure accurate accounting and financial reporting across the bank's financial activities.
• Coordinate the setup and management of fixed asset accounting processes, including depreciation methods, asset lifecycle management, and reporting with implementation partners.
• Coordinate and manage lease accounting in accordance with IFRS 16, ensuring proper recognition, measurement, and reporting of leases.
• Define and configure budgetary control mechanisms within Fusion Financials, ensuring adherence to financial plans and controls.
• Collaborate with cross-functional teams to gather business requirements, translate them into system configurations, and lead UAT for various financial modules.
• Lead and manage project plans, timelines, and milestones related to the Fusion Financials implementation.
• Ensure compliance with internal audit controls and external regulatory requirements for financial processes and reporting.
• Provide end-user training and ongoing support post-go-live.

Educational Background

Bachelor's or Master's degree in Accounting or Finance.

Experience

• Minimum 5-7 years of experience in accounting and financial reporting, particularly in the BFSI sector.
• Proven experience in implementing Oracle Fusion Financials, including P2P, fixed assets, and lease accounting.
• Strong working knowledge of IFRS, including IFRS 16 for lease accounting.
• Experience with UAE VAT and UAT processes in financial systems.

Technical Skills

• Expertise in Oracle Fusion Financials, including modules like General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, and Budgetary Controls.
• Strong knowledge of the Procure-to-Pay (P2P) cycle, VAT requirements, and their implementation in Fusion Financials.
• Working knowledge of AFCS and AHCS.
• Familiarity with project management concepts to manage project costing implementation.
• Proficiency in lease accounting and fixed asset management within a financial system.

Functional Skills

• Strong understanding of financial reporting standards (IFRS) and banking regulations.
• Excellent communication skills to collaborate with finance, procurement, and IT teams.
• Strong analytical skills with attention to detail and problem-solving abilities.
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.

Education And Experience

• Experience with Oracle Cloud ERP.
• Experience in the banking sector or working with financial institutions.
• Certification in project management (PMP or similar).
• Certified in Fusion Financials.

Skills: lease accounting (IFRS 16), financial reporting, VAT, IFRS, P2P processes, budgetary controls, Fusion Finance, project management, fixed accounting, Oracle Fusion Financials, fixed assets, Oracle, ERP modules.