Finance Manager

Job Title:

Finance Manager

Position Type:

Full Time

Reporting To:

Chief Financial Officer

Objectives:

• Guide, train, and mentor the MIS team to ensure adherence to correct accounting policies and procedures.
• Ensure timely and accurate financial reporting and compliance with regulatory requirements.
• Manage and optimize the financial health of the organization through strategic budgeting, forecasting, and financial analysis.
• Maintain strong relationships with stakeholders, including landlords, auditors, and internal departments.

Duties:

Financial Reporting and Compliance:

• Ensure accurate and timely closing of all legal entities Profit & Loss statements.
• Submit balance sheet schedules and monthly cash flow reports within given deadlines.
• Maintain clean balance sheet schedules and ensure zero intercompany variances at month-end.
• Submit bank reconciliations for approval at month-end.
• Apply necessary internal controls in financial processes and systems.
• Finalize and ensure adherence to Standard Operating Procedures (SOPs) for the finance department.
• Assist with any additional reporting requirements from management.

Leasing:

• Maintain and review leasing agreements, ensuring accurate accounting for all landlord accounts and liabilities.
• Collaborate with other managers to settle landlord dues promptly.
• Submit reconciliations for Statements of Account (SOA) to landlords.
• Build and maintain strong relationships with landlords.

Audit:

• Lead and assist in year-end audit closing.
• Facilitate and support any ad-hoc audit requirements.
• Submit Financial Statements (FS) to the appropriate government bodies, such as DMCC, ESR, and FTA.

Budgeting, Forecasting, and FP&A:

• Carry out the annual budgeting process and a three-month rolling forecast.
• Perform analysis of P&L, balance sheet, and cash flow to support informed decision-making by management.
• Provide ad-hoc financial analysis based on management and operations requirements.

Cost and Inventory Management:

• Lead, train, and guide the cost team in collaboration with other managers to maximize output.
• Submit reports on Cost of Sales (COS) and inventory.
• Lead and submit sponsorship reports.
• Implement and oversee necessary SOPs to support operations.
• Conduct analysis of high-cost areas and identify gaps in inventory processes to bridge loopholes.

Fixed Assets:

• Maintain an accurate fixed assets register, ensuring timely recognition of additions, deletions, and depreciation entries.
• Conduct fixed asset counts and recognize variances.

Tax Compliance:

• Possess strong knowledge of VAT filing and corporate tax rules to ensure compliance in reporting and processes.
• Assist in the implementation of corporate tax policies and ensure adherence by all team members.

Qualifications and Experience:

• Strong hospitality background with ACCA or Chartered Accountant qualification.
• Experience managing multiple properties from a cluster background.
• In-depth knowledge of IFRS, overall accounting principles, and hospitality accounting.
• Proficient in F&B costing and inventory management.
• Familiarity with top ERP systems, with experience in implementation being an added benefit.

Skills:

• Excellent team management skills and the ability to conduct training where necessary.
• Strong experience in budgeting and forecasting with exceptional analytical skills.
• Effective problem-solving skills with a technology-driven mindset.
• Ability to identify core issues and develop solutions that benefit management, operations, and finance.