Finance Manager (UAE Nationals only)

Job Description

Job SummaryTo work in close proximity with the Head Finance and lead and execute the finance activities including credit control, treasury operations, costing, MIS and budgeting and internal financial control, and thus ensure appropriate financial and regulatory health of the business unitRoles & Responsibilities1. Design long term strategy and governance mechanism around Credit Control and collections management for the respective business unit2. Support the senior leadership team in designing Financial Control strategies, targets and initiatives and ensure existence of a robust framework for internal Financial Control at the business unit3. Support the senior leadership in conducting budgeting exercise for the business unit including collation, consolidation and communication4. Support the Head Finance in finalization of the overall pricing strategy in close coordination with the Marketing department5. Ensure adherence to the budget at the business unit level, undertake analysis of any deviations and suggest corrective action if needed6. Prepare the budgeting schedule for the business unit and assist each department in budget preparation by providing formats, guidelines, assumptions and principles for the same7. Receive changes in budgets from each department and collate final budget by incorporating changes suggested by senior leadership and provide support in presenting the revised budget to MD/ CEO for approval8. Upload final budget on ERP system and regularly monitor the budget for deviations9. Define processes in collaboration with senior leadership for managing credit limits, arrears and advance payments etc.10. Monitor data points including credit limits, customer wise amount aging and outstanding on revenue collections before and after due date11. Lead identification of collection related risks and ensure that a mitigation plan for settlements is implemented12. Identify low cost sources of funds for business unit operations and conduct effective negotiations with bank sand financial institutions for best rates13. Provide timely and accurate cash/ funding requirement forecasts to the senior leadership to enable timely disbursements14. Guide the team in day to day Treasury Operations activities including Receipts and Payments Processing, Bank Reconciliations, period end closing and management of cash positions in order to ensure efficient cash flow for the business unit15. Guide the team in monthly/ quarterly/ annual costing for required components and assist the business unit in new product costing by providing data and costing templates16. Ensure timely preparation and submission of costing related MIS and prepare monthly MIS variance report of planned Vs. actuals17. Guide the team in accurately allocating the direct and indirect expenses to the components and cost centres, calculate the man-minute costs of each component & overall component cost and submit the same for review on a monthly/ quarterly/ annual basis18. Conduct historical variance analysis to identify reasons for cost variance and take corrective action if needed19. Provide support to audits to ensure timely completion of internal audit and external statutory audits of the business unit records; ensure compliance with applicable laws and audit requirements and achieve closure of deviations/observations well before the audit closure deadlinesKPIs1. % adherence to timelines for development of budgets2. Deviations from projected cash flows3. % reduction Cost of Capital4. % reduction in Non-Compliance Reports (NCRs) regarding Finance / Accounting SOPs5. Time taken to achieve closure on audit observationsWork experience requirementMinimum 7+ years of related experience, preferably in a similar industryQualificationChartered AccountantCompetenciesCommunicating effectively

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