Finance Analyst - Real Estate Financing Affairs

Department of Finance - Abu Dhabi; Abu Dhabi; On-site; AED 60,000 - 90,000; Full time

Job summary

Department of Finance - Abu Dhabi seeks an Accountant to contribute to financial cash flow reports, perform financial analysis and modelling for the real estate portfolio, and ensure IPSAS compliance across ledgers and reports.

The role involves preparing monthly/quarterly/annual statements, coordinating with property managers, and supporting budget development. Collaboration with internal/external auditors and tax advisors is required.

Responsibilities

• Prepare monthly, quarterly, and annual financial statements for the entire portfolio.
• Analyze financial data to identify trends, risks, and opportunities.
• Coordinate with property managers to receive periodic financial updates.
• Contributes to Establish/ Prepare Monthly statistical DOF Real estate Portfolio reports.
• Financial Analysis, Modelling, valuation of DOF Real estate portfolio.
• Prepare financial reports and projections based on market conditions to help assess extended exposure direction and recovery of Landlords debt obligations.
• Oversee the payment of expenses, including property management fees, maintenance expenses, taxes, insurance, and other related costs.
• Monitor the collection of rents, fees, and other revenues.
• Review and Monitor Real estate portfolio transactions.
• Reconciliation of Real Estate Portfolio's bank accounts.
• Loan Management and reconciliation as applicable.
• Assist in developing annual budgets in collaboration with property managers and developers.
• Align budget variance reports and monitor actual performance against budget and forecast, and provide variance explanations.
• Contributes to Establish/ Prepare Monthly and Quarterly Financial cash flow reports of DOF Real estate portfolio.
• Ensure that all financial transactions, ledgers, and reports are in compliance with IPSAS and any other relevant applicable accounting standards.
• Ensure properties are compliant with local and federal applicable tax laws, and coordinate with tax advisors for timely tax submissions.
• Coordinate with internal and external auditors for periodic audits of the portfolio.
• Regularly reconcile bank and other financial accounts.
• Review and reconcile financial statements provided by property managers and developers, ensuring accuracy and consistency.
• Mortgage release financial validation.
• Liaise with property managers to gather necessary financial data and address discrepancies.
• Collaborate with internal teams such as asset management, legal, and operations to provide financial insights and updates.
• Provide the necessary support to REFA management, and perform any other related tasks assigned.
• Communicate with external and internal business stakeholders.
• Utilize, maintain, and develop REFA Financial system.
• Ensure all financial data is backed up and secure.
• Identify opportunities to optimize processes for efficiency and accuracy.
• Stay updated with industry trends and best practices in the line of business applicable accounting standards.
• Provide Perform other duties and responsibilities as requested by the Executive Director or management.

Job description

Group Company: Department of Finance

Designation: Accountant

Office Location: Abu Dhabi (DOF Office)

Position description:

Contributes to reports preparation of financial cash flow and other statistical reports. Conduct Financial Analysis and Modelling for DoF real estate portfolio. Ensure compliance of Real Estate Financing Affairs ledger with IPSAS rules and regulations.

Primary Responsibilities:

• Prepare monthly, quarterly, and annual financial statements for the entire portfolio.
• Analyze financial data to identify trends, risks, and opportunities.
• Coordinate with property managers to receive periodic financial updates.
• Contributes to Establish/ Prepare Monthly statistical DOF Real estate Portfolio reports.
• Financial Analysis, Modelling, valuation of DOF Real estate portfolio.
• Prepare financial reports and projections based on market conditions to help assess extended exposure direction and recovery of Landlords debt obligations.
• Oversee the payment of expenses, including property management fees, maintenance expenses, taxes, insurance, and other related costs.
• Monitor the collection of rents, fees, and other revenues.
• Review and Monitor Real estate portfolio transactions.
• Reconciliation of Real Estate Portfolio's bank accounts.
• Loan Management and reconciliation as applicable.
• Assist in developing annual budgets in collaboration with property managers and developers.
• Align budget variance reports and monitor actual performance against budget and forecast, and provide variance explanations.
• Contributes to Establish/ Prepare Monthly and Quarterly Financial cash flow reports of DOF Real estate portfolio.
• Ensure that all financial transactions, ledgers, and reports are in compliance with IPSAS and any other relevant applicable accounting standards.
• Ensure properties are compliant with local and federal applicable tax laws, and coordinate with tax advisors for timely tax submissions.
• Coordinate with internal and external auditors for periodic audits of the portfolio.
• Regularly reconcile bank and other financial accounts.
• Review and reconcile financial statements provided by property managers and developers, ensuring accuracy and consistency.
• Mortgage release financial validation.
• Liaise with property managers to gather necessary financial data and address discrepancies.
• Collaborate with internal teams such as asset management, legal, and operations to provide financial insights and updates.
• Provide the necessary support to REFA management, and perform any other related tasks assigned.
• Communicate with external and internal business stakeholders.
• Utilize, maintain, and develop REFA Financial system.
• Ensure all financial data is backed up and secure.
• Identify opportunities to optimize processes for efficiency and accuracy.
• Stay updated with industry trends and best practices in the line of business applicable accounting standards.
• Provide Perform other duties and responsibilities as requested by the Executive Director or management.