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Job Purpose:
As part of its mission to be a global trade enabler, DP World offers Trade Finance solutions to Importers and Exporters (BCOs) and transporters to ease their working capital crunch. DP World aims to help SMEs by making financing options available to reduce this working capital crunch.
To this end, “DP World Trade Finance” has been formed as a business unit and established a company within the DIFC, called DP World Financial Services Limited (“DPWFS”), regulated by the DFSA, and is engaged in both arranging and providing financing solutions primarily for SMEs as well as larger corporates, directly from its own balance sheet and in partnership with other Financial Institutions. For these purposes, DPWFS is looking for a Finance Manager. The role will be reporting to the Senior Executive Officer of DPWFS and will work closely with authorised Finance Officer.
This position is required to ensure accurate accounting, reconciliations, data-based decision-making, disbursements and collection of funds, VAT compliance, External and Internal Audit, prudential and regulatory reporting, DFSA and DIFC regulations of the business. The incumbent’s scope of responsibilities will cover activities related to DPWFS as well as the wider network of DP World Trade Finance globally.
Key Accountabilities:
- Directly responsible for all finance and treasury matters including but not limited to DFSA and DIFC regulations and required reporting (PIB, etc.).
- Responsible for preparation of Audited financial statement per IFRS
- Overseeing the preparation and timely submission of the quarterly and annual financial returns to DSFA via EPRS.
- Coordinating with External Audit on audit conduct and audit letter requirements
- Coordinating with Internal Audit for required activities.
- Prepare and submit an annual budget and re-forecast, including capital forecasts and scenario analysis.
- Ensuring that the Firm maintains at all times Capital Resources that exceed its Capital Requirement and that it maintains at all times liquid assets that exceed its Expenditure Based Capital Minimum.
- Working closely with the authorised Finance Officer and advising the Board of Directors and Senior Management as to liquidity requirements and possible sources of funding.
- Liaising with Group on budgeting and intercompany budgets, consolidations.
- Liaising with Group on services and cooperation required under group service level agreements.
- Monitoring key contracts for financial terms and assisting on the continued assessment and review of financial terms and competitive arrangements.
- Responsible for bank reconciliations, including and not limited to check for receipt in the accounts, and the payments to vendors.
- Responsible for the monitoring of the client invoices, including reconciliations, credits, adjustments, reviews, statements and liaison with the credit team.
- Responsible for liaising with the relationship managers for financial institutions for the collection of invoices and other accounts receivable matters.
- Responsible for monitoring credit terms and un-used facilities available for clients for cash and treasury management services.
- Monitoring bank accounts, including multi currency strategies and liaison with group treasury for credit funding requirements, operational requirements and compliance with group treasury policy .
- Liaison with Group HR on employment related financial matters, including DEWS payments.
- Assis the Finance Office with the liaison with the Oracle technical team on issues during development of the system and ongoing regarding updates on matters requiring update in the databases, coding and design.
- Responsible for the implementation of interfacing between cargoes finance platform and Oracle including reports and customization, if required.
- Responsible for booking account payables invoices.
- Responsible for vendor settlements, ensuring the processing of vendor payments as per agreed terms.
- Responsible for credit disbursement, collection and reconciliation.
- Responsible for early settlement of loan and deferment of loan.
- Responsible for VAT registration and VAT return filing
- Maintain Intercompany balances file to ensure proper reconciliation and eliminations
- Monitoring the passing of necessary monthly entries in Oracle for preparation of monthly reports.
- Supporting the Finance Officer to provide the Board of Directors and Senior Management with periodic management information as to financial performance and condition, cash flow and budgetary variance.
- Prepare Monthly Financial Report and comparing with the Budget and providing necessary variance explanation to be shared with Group Finance
Qualifications, Experience and Skills:
- Bachelor’s degree in accounting or Finance
- Qualified Chartered Accountant (CA) or ACCA or CPA
- Minimum 5-10 years’ working experience in financial accounting, management and reporting roles
- Financial accounting, management and reporting experience of DFSA regulated business
- Experience in Financial Accounting, management and reporting
- Experience of working on Oracle Financial platform
- Ability to work effectively with all levels of an organization (from the most junior to the most senior).
- The right candidate will be able to work under pressure, be highly result-oriented, deal with high volumes of work and be highly agile in leading financial matters of a fast-growing trade finance business and driving innovation.
