Finance Director (Real Estate Development)
Location : Dubai
Post Date : 23 January 2017
A leading Real Estate Development company is looking to recruit a Finance Director to be based in Dubai.
You will be responsible for the effective management of all financial tasks, including corporate accounting, treasury, compliance, financial reporting, tax and development of internal control policies and procedures.
- Manages daily accounting operations including the review and monitoring of collections, customer accounts receivable ageing reports and timely issuance of payment reminders/notices in compliance with laws
- Ensures timely closure of books on monthly basis to deliver on time monthly, quarterly and annual accounts in compliance with group financial policies / procedures, IFRS, GAAP.
- Ensures all reconciliations, including with JV partners / external parties are prepared on time
- Ensures timely issuance of accurate weekly and/or monthly flash / reports
- Develops and maintains working relationships with banks, escrow accounts and trustee banks and understands all requirements of escrow account regime to ensure timely settlement of payments
- Manages Group & entity level cash requirements and placement of excess funds in short term investments as per group investment guidelines
- Ensures entity and group level legal & tax compliance with corporate / tax laws, rules, RERA laws / procedures, including VAT legislation / practice / procedures and monthly / annual filings for foreign entities
- Develops and maintains working relations with RERA officials and ensures timely filing of approval requests and their follow up
- Prepares financial summaries, reports, analysis, cost-benefit analysis and/or ad-hoc financial reports as required by the Senior Management
- Coordinates with group external auditors for interim / annual audit plans and ensures timely delivery of consolidated and entity level financial reports
- Coordinates with RERA auditors for ensuring timely delivery of RERA audits / reports
- Reviews and updates, in line with best practise, the Group's internal control environment including accounting policies, systems/ procedures and makes recommendations to continuously improve
- Ensures group-wide compliance with IAS, IFRS, GAAP
- Participates in annual budgeting process, monthly forecasting estimates and in variance analysis.
- Determines reasons for variances and suggests a course of action to align business activities in order to achieve financial plan
- Gives direction and leadership towards the achievement of the Departments KPI's and annual objectives.
- Effectively recruits, manages, motivates, coaches and develops the team
- Supervises and reviews performance of individuals, including annual objective setting and evaluation.
- Evaluates finance department structure and organisation for continual improvement of the efficiency and effectiveness of the department
- Encourages professional growth, identifies individual training requirements and coordinates in-house training / workshops for the team to enhance their knowledge of Chart of Accounts / categories / IFRSs / GAAP
- Ensures effective/optimum functionality of all accounting and finance aspects of the ERP system (Yardi) and drives continuous improvement
- Custodian for group-wide user access control matrix in Yardi including routine monitoring and updates
- Signs off all changes to workflows / system procedures
- Qualified Accountant - CIMA / CA / ACMA or other recognized Accounting qualification
- 10 years of post-qualification progressive managerial experience
- Experience of residential real estate development, ideally in Dubai
- Knowledge of RERA Laws, rules, practices and procedures
- Solid technical accounting skills, including IFRS
- Experience working in a large group of companies with Corporate Governance regime
- Working knowledge of ERP systems, YARDI preferred
- Advanced knowledge of Microsoft Excel
- Experience managing foreign entities financial / tax affairs, (UK / Europe) preferred
- Proven track record of developing and running a high performing team in a fast paced environment
- Experience of working within a multi-cultural environment
- Up to 60,000aed per month plus benefits
Gate Village 1, Level 1