Job description / Role
Makeen Properties, a Ghobash Group Company, is a boutique real estate company undertaking investment, property management and leasing on behalf of the Ghobash family, and boasts nearly three decades of market expertise and experience.
It is now looking to hire a Finance Manager.
• To be responsible for all the accounting business functions both financial accounting and management reporting.
• Analysis of existing internal controls and recommendation / implementation of improvements
• Proactively drive improved MIS reporting with the assistance of the Management Accountants
• Leads the preparation of accurate monthly, quarterly and yearly statutory reports
• Ensure that all invoices are processed in a timely and accurate manner by the team
• Coordinate with the various operations and support units to ensure timely and accurate cost data is available for preparation of cost reports.
• Preparation of budgets and financial forecasting as well as monitoring progress and expenditure against budget. Controlling expenses in alignment with the set budget and developing monthly expenses report.
• Prepare monthly variation reports of actual progress against planned progress.
• Prepare project monthly cost reports for tracking purposes and control.
• Identify delays against contract programs and to advise the Project management/development dept. Accordingly.
• Liaise and assist the Project development Manager, Project Manager in the preparation and monitoring of short term programs.
• Liaise with internal and external Quantity Surveyors and the Project Management team in respect of Project Invoices and preparation and updating cash flow forecast.
• Generate detailed time schedule plan and cash flow for awarded projects.
• Development and Management of costing and budgeting system.
• Preparation of Yearly financial budgets as per corporate guidelines within the time cycle.
• Efficient Fund Management Planning through periodic forecast for proper utilization of resources
• Risk Management- Identify, assess and analyse timely any risk to the set budget
• Preparation of cash flow statement to ensure proper deployment and procurement of funds.
• Preparing and analysing monthly Flash Reports of all properties.
• Preparation of financials of all the properties on monthly, quarterly and annual basis Preparation of the company's budget and analysis of budget variance and suggesting necessary remedial action for major deviations.
Financial Management & Reporting
• Monitor and Report budget variance periodically for control Analyse working capital to anticipate future cash flow problems. Management & optimization of major financial recording, payment and monitoring systems of the company
• Monitor receivable movements to curtail collection issues that lead to bad debts.
• Fulfillment of leasing deal requirements and letter of credit deals.
• Preparation and submission of periodical Managerial and other Reports as per corporate guidelines. Review and ensuring the accuracy of Account Schedules.
• Compliance and Monitoring of Policies & Procedures
• Reviewing and approving all accounting transactions in line with the Group Policies & Procedures
• Ensuring all accounting transactions in line with approved corporate authority matrix
• Review and approve credit as per group policies
• Execute internal and external audit procedures Ensure efficient fixed assets management to safeguard company assets are in place.
• Liaison with contractors to ensure timely completion of projects and correct payments. Implementation of proper Internal controls for effective management of lease renewals, new leases, payment to creditors and inventory control.
• Proper verification of rental & lease / tenancy contracts and assisting in finalizing the documents
• Exercising full control over PDC’s received from tenants and proper accounting & banking of the same.
• Liaison with property valuers for timely valuation of properties, new and existing.
• Handle property Insurance and indemnify the company from associated risks. Verifying & processing the monthly payroll for the real estate Division
• To manage the day to-day finance and accounts for the property leasing/renting division
• Manage the digitizing of the accounting and real estate transactions through the platforms provided and installed by the company.
• Bachelor’s degree in Accounting from a recognised university
• Qualified accountant (CIMA, ACCA, CPA)
Skills & Professional Requirements:
• Experience in Feasibility Studies, Business Planning, Financial Modelling and Valuation
• Must have strong UAE experience in property rental income accounting
• Strong in budgeting, reporting ERP software experience is a must
• Arabic speakers are preferred
• Experience Requirements:
• Working as a Finance Manager in Real Estate Company for at least 8-10 yrs
• UAE Real Estate development experience is essential
• Ideally started career in a large accounting firm such as the Big 4.
Attributes and Behaviours:
• Must have excellent communication skills
• Ability to deal simultaneously with multiple tasks
• Logical, structured, methodical Assertive but cooperative Strong worth ethics
• Digitally skillful in several accounting and management software.
About the Company
Incepted in the late 70's, Ghobash Group has become one of the resilient business conglomerates in UAE. The privately-owned group has expanded to geographies across the Middle East, Asia, Africa and Europe through its diversified business arms.
Focused on growth through value-creation, Ghobash Group has advanced with successful milestones over the years in its business industries: Technology, Chemicals, Engineering, Oil & Gas, Water, Energy, Pharmaceutical, Retail, Trading and Real Estate.
CNS, GCG Office Imaging, Tawazon Chemical, E&I Emirates, GCG Engineering Services, Arabian Ethicals, Ataya Fashion, Prime Hospitality, and Makeen Properties. The Group has also formed Joint Ventures over the years such as Sahara Center sustaining its momentum of successful milestones throughout the years.
Sustainability, innovation, diversification, and ownership are amongst the key values the Group has been practicing for decades. Working with partners, who share the same values, the Group has added value throughout the years through profitable investment opportunities in both the private and public sectors.
In depth experience, combined with a granular knowledge of the regional economy, enables Ghobash Group to identify, and provide access to the best business opportunities across the region.
Committed to diversified growth, Ghobash Group is headquartered in the United Arab Emirates and services through its offices and factories in Saudi Arabia, Oman, India, Iraq, and Africa.
The Group values its people as family and its customers as long term partners. Embracing excellence yet keeping it personal is a key strength of the Group which is a characteristic that has not faded since its inception.
Driving success through its people and partners, with its diverse business arm, Ghobash group aims to continue to grow adding value with every opportunity, every transaction, every employee life, every partner business, every community across varied geographies.
Together we make a difference.