A client in Insurance Industry Hiring for Finance Manager at Dubai Full Time

The Finance Manager will be responsible for the preparation of financial reports that summarize and forecast the organization’s financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. He is also in charge of preparing special reports required by CBUAE or other governmental bodies. Often, he oversees the accounting, audit and compliance activities of the organization.

Duties and Responsibilities

Accounting & Management:

• Managing accounting functions including maintenance of general ledger, accounts payable, accounts receivable and ensures accuracy, completeness and timeliness.
• Developing, implementing and ensuring compliance with internal financial and accounting policies and procedure.
• Managing accounts team.
• Reviewing and finalising monthly Financial Statements and presenting the same to top management.
• Preparation of various MIS reports from time-to-time, as per management requirements.

Regulatory Compliances:

• Handling the quarterly Internal and External audit and ensuring audit requirements are complied.
• Submitting the audited quarterly financials along with the reports, as per CBUAE requirements on the portal.
• Planning, coordinating and executing annual Statutory financial audit and ensuring timely submission of Financial Statements to regulatory authority.
• Ensure compliance with AML regulations. Handling AML audit on half-yearly basis, as per regulatory requirements and submitting the same on the portal.
• Ensure compliance with VAT regulations and submission of VAT returns on timely manner. Ensure compliance with Corporate Tax regulations.

Banking & Finance:

• Ensuring availability of adequate funds at all the times, to meet the business requirements.
• Liaising with the banks to ensure smooth operation of bank accounts.
• Ensuring proper segregation of Operating and Client (Escrow) bank account, as per regulatory requirements.
• Ensuring payment processing to be done in timely manner.

Business Activities:

• Keeping complete track of policies issued including line of business, insured and insurance company details along with the premium and commission booked for the policies, for both direct and reinsurance business.
• Ensuring that premium is correctly paid by client to Insurance Companies / IIB, depending on the line of business, as per regulatory regulations.
• Timely reconciliation of accounts with Insurance Companies and Clients.
• Follow-up with clients and insurance companies for timely settlement of premium and commission respectively.

Others:

• Liaising with outsourced PRO for HR related activities.
• Supervising Administrative activities.
• Any other activity, as required by management from time-to-time.

Qualifications

1. Hold a university degree or equivalent in a financial, accounting field as a minimum with ACCA member
2. Have a minimum practical experience of 7 years in the field of the Accounting & Financing preferabably from Insurance industry.