Job description / Role
Overseeing all the Development Financial Accounting and Reporting function including Accounts Receivable/Payable in accordance with IFRS and approved accounting policies. Areas of responsibility include accurate and timely recording of all transactions, monthly closing and reporting of financial statements, budgetary control, managing business cash requirements
Our client is a joint venture that operates and owns a diversified portfolio in Dubai. They are looking for a new member to join their team as a Finance Manager within the Real Estate Development vertical.
* Review and ensure controls are in place in the life cycle of sales process - invoicing, recording, receipt booking and collection
* Review and approve manual journal entries in relation to accruals and re-classifications to ensure complete and accurate reporting of revenue as per IFRS 15
* Prepare and ensures straight-lining of revenue is done as per IFRS-16 guidelines
* Ensure completeness and accuracy of PDC's reporting and Implement collection initiatives for improvement of inflows
* Check and verify VAT returns in coordination with Internal and external VAT liaisons
* Monitor defaulter's portfolio and establish exception reports on non-compliance. Liaise with Legal to ensure appropriate actions are taken
* Plan and lead implementation of new financial accounting systems, interfaces and system improvement and processes
* Ensure Escrow Account management in compliance with RERA regulation and periodic RERA audit
* Ensure TAS (Trust Accounting system) is updated on an ongoing basis and periodic reconciliation are conducted with the bank balances
Financial Accounting & Management reporting:
* Prepare/Review Financial statements (Income Statement, Balance Sheet and Cash Flow Statement) on monthly/quarterly basis. Analyze revenues and costs v/s budget and business plan
* Review Project Accounting and Costing and ensure proper cost management and control by monitoring cost and liaising with Project Management/Controls team
* Prepare/Review of monthly, quarterly semi-annually and annual management/forecast reports for management and shareholders
* Review Contract Payment certificates and ensure they comply with contractual terms of the Contractor/Consultant agreements
* Closely work with stakeholders to optimize cashflows and implement strategies
* Manage and control actual cost versus budget on monthly basis and provide financial reports/data related to the project's financial performance
* Ensure annual consolidated financial statements of the company are prepared in accordance with International Financial Reporting Standards (IFRS); Liaise with the external auditors and provide all necessary documentation/information to finalize interim and year-end audits
* Liaise with Internal Auditors and provide them with support and documentation to complete their audits. Implement recommendations and provide management action plans for the issues identified in the report
The successful candidate for this role will be offered a competitive monthly salary and an exciting opportunity to further progress their career as a Finance Manager.
* Qualified Chartered Accountant, Bachelor's degree, and/or Master's degree
* 8 to 10 years of post-qualification experience with 2 years of experience in a supervisory capacity
* Proficient in Oracle, Excel, and Yardi
* Team player with good analysis, communication and presentation skills
* Experience within Real Estate Development - project management and accounting
About the Company
Michael Page is one of the world's leading professional recruitment consultancies, specializing in the placement of candidates in permanent, contract, temporary and interim positions with clients around the world.
The Group has operations in the UK, Continental Europe, Asia-Pacific and the Americas. In the Middle East we focus on the areas of:
Finance & Accounting Banking & Financial Services Procurement Property & Construction Engineering & Supply Chain Oil & Gas Technical and Engineering Human Resources Sales Marketing Technology Secretarial Executive Search Legal
The Group operates through 161 offices in 33 countries and employs over 5,000 employees worldwide.
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