Finance Controller

Job description / Role

Our client is a diversified business group with several divisions. For their Hospitality division that owns Hotels etc, we are looking for an experienced Finance Controller. WE are only considering Finance professionals from Hospitality, Hotels, Construction industry with experience of managing pre opening experience.

Duties and Responsibilities:

Management of the finance function and cost control during development of the hotel:
• Reviewing the development budget and ensuring accurate development projections are available at all times.
• Assume complete ownership of the budget and ensure the budgets are adhered. In case of expected deviations, update the management at the earliest opportunity.
• Be totally in charge of developing, implementing and monitoring finances as well as managing budgets for the Hotel development.
• Independent / Functional Head of finance, responsible for accounting, book-keeping and VAT/Tax matters.
• Organize and attend Bi-monthly Management Accounts' review meeting with Directors and attend meetings other members of senior management as and when required.
• Ensure timely cash flow projections are provided to all stakeholders including Directors. Ensure that the drawdown from banks is managed as per the cash flow requirement.
• Manage relationship with banks to ensure monthly loan drawdown is completed on time for payments; complete documentation requirements of the bank before the project drawdown.
• Monitor the bank reconciliations and action on outstanding entries on weekly basis.
• Keep track on cash flows by ensuring that an up to date cash flow projection is maintained. Report cash flows to management on monthly basis
• Review the approval process relating to the release of payments. Ensure all approvals are in place and in time for the release of payments
• Work with the appointed Project Manager toward value engineering. Identify the areas for the cost reduction.
• Manage commercial relationships with all vendors including the Operator, Architect, contractor(s) etc. Signoff on all contractors that have impact on the Hotel commercials.
• Take ownership of hotel delivery within time and cost along with technical head of the project.

Procurement management for development:
• Review complete procurement processes, control on cost mechanism, vendor evaluation, development of vendors, Review on payments to vendors (Sundry Creditors).
• Support identification of the vendors from where various items required during the construction can be purchased.
• Review the bidding process managed by the Project Manager and identify ways to value engineer via efficient procurement.

Requirements

The ideal candidate for this position would be a Western National with a minimum of 20 years of experience in Finance including at least 8-10 years in the UAE/GCC region, from the Hospitality industry. The person would have Professional Qualifications and Certifications related to Finance and should be currently available in the UAE.

The ideal age bracket for this position would be 42-48.

About the Company

Potential Max is a new age consultancy aimed at enhancing personal creativity and productivity, personal and professional growth as well as knowledge transfer and potential development among mid and senior level employees and professionals.

Potential Max operates in 5 broad areas. These are: - Executive Recruitment - HR Services - Business Coaching and Executive and Life coaching - Training and Development - Retail Consultancy services.

Based in the United Arab Emirates, Potential Max addresses the needs of clients across the Middle East as well as the Indian sub continent.