ESAG Hiring for Finance Manager- Real Estate Job at Dubai Full Time

1. To ensure supervision of transactions processing functions covering accounts payable, accounts receivable and banking transactions.

2. To ensure that cashflows are managed properly by making forecast on a weekly basis, monthly basis and annual basis.

3. To ensure that all operating and nonoperating expenses are released as per the approved annual budget. Any major deviation gets highlighted and reported in MIS.

4. To interact with internal stakeholders for additional opex/capex requirement which was not budgeted and identify financial impact of such requirements.

5. To ensure that all reconciliations are prepared by accounts team and reviewed for long unreconciled items. Corrective steps are taken on a preventive basis.

6. To ensure cash reimbursements to employees, cash payment to vendors, cash advance to employees for business purposes are done as per laid down procedures. Timely clearing of such advances.

7. To review of vendors and customers outstanding for identifying overdue items and taking corrective actions.

• Budgeting

8. To provide operational data for making budget after eliminating nonrecurring and unusual financial items so that normalized data is available making budget.

9. Analyze expenses to identify pattern and incorporate new changes to arrive at budgeted expenses.

10. To provide support to Entity GM in determining rental value for budgeted revenue.

11. To consolidate all information in Budget pack and keep presentation ready as per predefined template

• Month end and Year end closing

12. To make plan for month end and year end closing and make sure all accounting functions are aligned accordingly.

13. To evaluate the effectiveness of month end closing by adhering to timeliness and previous month transactions recorded in next month.

14. To make sure that expense provision for utility and nonutility are done on a systematic basis rather than random basis by taking average or last month expense. These expenses provision must be done building wise to get accurate picture of building wise profitability.

15. To ensure cut off procedure followed for month end and year end transactions.

16. To ensure suppliers and customers balance confirmation are done on a timely basis and this should be supported by proper reconciliations.

17. To estimate provision for doubtful debts as per the laid down policy and provision for future receivable is done as per respective IFRS.

18. To ensure accrued income accounting for contracts not renewed.

• Reporting and analytics

19. To make forecast of revenue and expenses using statistical techniques building wise and month wise.

20. To keep track of forecasting error and bring it within the acceptable limit of 5%.

21. To evaluate the suitability of statistical techniques employed by analyzing forecast numbers with actual numbers.

22. To make monthly financial MIS by comparing budgeted figures against actual figures and identifying reasons for variances.

23. To make operational MIS for business related issues by analyzing operational data.

• Valuation

24. To engage with external valuer for providing information in neat format.

25. To follow up the valuation team for checking the status of valuation work and expected valuation of properties undertaken. Review of assumptions used by valuation team.

26. Recalculate valuation amount for checking errors and assumptions/data issues.

27. To do valuation of remaining properties based on inputs provided by external valuer for selected properties.

28. To organize meeting between external auditor and valuer for any issues arising out of valuation reviews.

29. To interact with external auditor’s valuation team for explaining rationale behinds assumptions used in internal valuations, data used, yield rate adopted.

• Internal and External Audit

30. Interact with Internal audit team to address queries raised, issues flagged by them.

31. Interact with external audit team for smooth completion of external audit by interacting with junior audit team members for data/documentations/process issues and senior team members for control gaps/issues having significant financial impact and audit timeliness.

• Compliance

32. To ensure that transactions are identified correctly for tax codes used for expense accounting and correct input tax is availed.

33. To ensure that output tax is charged correctly for each type of transaction and accounting correctly.

34. Tax impact on the basis of reverse charge mechanism is determined accurately and accounting thereof.

35. Timely submission of VAT return, payments of VAT amount, claiming of refunds and doing annual adjustments.

36. To ensure compliance with respect to issuance of tax invoices and tax credit notes.

37. To ensure corporate tax liability is determined as per the laid down legal provisions.

• Feasibility study

38. Conduct feasibility study of new real estate developments.

39. Evaluate suitability of yardsticks employed to measure the effectiveness of profitability.

40. Create presentations for top management for explaining investment opportunities in convincing manner supported by valid assumptions and data used.

• Procedural and controls

41. To ensure proper controls are put in place for transactions processing.

42. To develop accounting manual and procedures.

43. To ensure that delegation of authority is reviewed from time to time to ensure that changing business circumstances are incorporated therein.

44. Adherence to the approved DOA in carrying out financial transactions.

• New initiatives

45. To identifying areas where digital transformation is possible after considering cost-benefit analysis.

46. To automate routing and repetitive finance and non-finance works by automating it either using M language or Python, Excel Macros or Power Automate.

47. To streamline data capturing process by creating Excel form and capturing data without any manual intervention in MS Excel/MS Access.

48. To streamline data flows by removing paper-based information flows.

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Finance Manager- Real Estate in Dubai – United Arab Emirates

• Operational Finance

1. To ensure supervision of transactions processing functions covering accounts payable, accounts receivable and banking transactions.

2. To ensure that cashflows are managed properly by making forecast on a weekly basis, monthly basis and annual basis.

3. To ensure that all operating and nonoperating expenses are released as per the approved annual budget. Any major deviation gets highlighted and reported in MIS.

4. To interact with internal stakeholders for additional opex/capex requirement which was not budgeted and identify financial impact of such requirements.

5. To ensure that all reconciliations are prepared by accounts team and reviewed for long unreconciled items. Corrective steps are taken on a preventive basis.

6. To ensure cash reimbursements to employees, cash payment to vendors, cash advance to employees for business purposes are done as per laid down procedures. Timely clearing of such advances.

7. To review of vendors and customers outstanding for identifying overdue items and taking corrective actions.

• Budgeting

8. To provide operational data for making budget after eliminating nonrecurring and unusual financial items so that normalized data is available making budget.

9. Analyze expenses to identify pattern and incorporate new changes to arrive at budgeted expenses.

10. To provide support to Entity GM in determining rental value for budgeted revenue.

11. To consolidate all information in Budget pack and keep presentation ready as per predefined template

• Month end and Year end closing

12. To make plan for month end and year end closing and make sure all accounting functions are aligned accordingly.

13. To evaluate the effectiveness of month end closing by adhering to timeliness and previous month transactions recorded in next month.

14. To make sure that expense provision for utility and nonutility are done on a systematic basis rather than random basis by taking average or last month expense. These expenses provision must be done building wise to get accurate picture of building wise profitability.

15. To ensure cut off procedure followed for month end and year end transactions.

16. To ensure suppliers and customers balance confirmation are done on a timely basis and this should be supported by proper reconciliations.

17. To estimate provision for doubtful debts as per the laid down policy and provision for future receivable is done as per respective IFRS.

18. To ensure accrued income accounting for contracts not renewed.

• Reporting and analytics

19. To make forecast of revenue and expenses using statistical techniques building wise and month wise.

20. To keep track of forecasting error and bring it within the acceptable limit of 5%.

21. To evaluate the suitability of statistical techniques employed by analyzing forecast numbers with actual numbers.

22. To make monthly financial MIS by comparing budgeted figures against actual figures and identifying reasons for variances.

23. To make operational MIS for business related issues by analyzing operational data.

• Valuation

24. To engage with external valuer for providing information in neat format.

25. To follow up the valuation team for checking the status of valuation work and expected valuation of properties undertaken. Review of assumptions used by valuation team.

26. Recalculate valuation amount for checking errors and assumptions/data issues.

27. To do valuation of remaining properties based on inputs provided by external valuer for selected properties.

28. To organize meeting between external auditor and valuer for any issues arising out of valuation reviews.

29. To interact with external auditor’s valuation team for explaining rationale behinds assumptions used in internal valuations, data used, yield rate adopted.

• Internal and External Audit

30. Interact with Internal audit team to address queries raised, issues flagged by them.

31. Interact with external audit team for smooth completion of external audit by interacting with junior audit team members for data/documentations/process issues and senior team members for control gaps/issues having significant financial impact and audit timeliness.

• Compliance

32. To ensure that transactions are identified correctly for tax codes used for expense accounting and correct input tax is availed.

33. To ensure that output tax is charged correctly for each type of transaction and accounting correctly.

34. Tax impact on the basis of reverse charge mechanism is determined accurately and accounting thereof.

35. Timely submission of VAT return, payments of VAT amount, claiming of refunds and doing annual adjustments.

36. To ensure compliance with respect to issuance of tax invoices and tax credit notes.

37. To ensure corporate tax liability is determined as per the laid down legal provisions.

• Feasibility study

38. Conduct feasibility study of new real estate developments.

39. Evaluate suitability of yardsticks employed to measure the effectiveness of profitability.

40. Create presentations for top management for explaining investment opportunities in convincing manner supported by valid assumptions and data used.

• Procedural and controls

41. To ensure proper controls are put in place for transactions processing.

42. To develop accounting manual and procedures.

43. To ensure that delegation of authority is reviewed from time to time to ensure that changing business circumstances are incorporated therein.

44. Adherence to the approved DOA in carrying out financial transactions.

• New initiatives

45. To identifying areas where digital transformation is possible after considering cost-benefit analysis.

46. To automate routing and repetitive finance and non-finance works by automating it either using M language or Python, Excel Macros or Power Automate.

47. To streamline data capturing process by creating Excel form and capturing data without any manual intervention in MS Excel/MS Access.

48. To streamline data flows by removing paper-based information flows.

ü CA/ICWA

ü Minimum of 15 to 25 years work experience in the finance domain. Real estate is desirable..

ü Can work with volume and monotonous tasks

ü Strong persuasion behavioral skills

ü Problem-solving approach and can-do attitude.

ü Quick learner coupled with a deep understanding of the business environment.

ü Very well versed with Valuation Standards and RICS valuation book.

ü Basic understanding of RICS Contract 1989

ü IFRS understanding