Financial Planning Analyst

RAK International Corporate Centre (RAK ICC) Government of Ras Al Khaimah; Ras Al Khaimah; On-site; AED 120,000 - 180,000; Full time

Job summary

A governmental corporate center in Ras al-Khaimah seeks a Finance professional to assist senior management in making critical business decisions. Responsibilities include overseeing budgeting processes, financial forecasting, and preparing detailed MIS reports. The ideal candidate has a Bachelor's in Finance, relevant experience, and proficiency in financial software. Strong analytical and interpersonal skills are essential. This role offers a dynamic work environment with opportunities for professional growth.

Qualifications

• Minimum 3 to 4 years of experience in budgeting & reporting.
• Accountancy qualifications (ACA/ACCA or equivalent).
• High level of numeracy and analytical skills required.

Responsibilities

• Assist senior management with critical business decisions.
• Oversee accounting procedures and prepare MIS reports.
• Collaborate with stakeholders to develop and manage budgets.

Skills

Fluent in English

Numeracy

Project management skills

Interpersonal skills

Analytical skills

Education

Bachelor’s degree in Finance / Accounting

Tools

ERP

SAP

SAC

Job description

JOB PURPOSE

Responsible for assisting senior management in making critical business decisions by analyzing and presenting key financial data; oversee accounting procedures and preparing MIS reports. Support all financial planning activities including annual budget, mid-year forecast, Long range strategic planning and analyze financial information, and work with the business partners and regions to ensure alignment with strategic goals and objectives

CORE RESPONSIBILITIES

Budgeting and Forecasting:

• Assist in Planning for the budget and publishing a budget calendar detailing the various tasks to be completed in co-ordination with the stake holder departments.
• Involvement in the annual budget development process for each fiscal year, which includes collaborating with stakeholders to develop the annual and multi-year budgets
• Collaborate with the HODs to develop the authority’s budget by publishing the templates, agreeing on the various revenue, OPEX & CAPEX assumptions, providing guidance on filling the templates and follow-up with departments until the final submission.
• Set up review meetings with the HODs along with the line manager & Finance Director to challenge the assumptions in the budget (Revenue, OPEX & CAPEX) based on prior year trends and strategic plan and agree on the final targets.
• Consolidating the templates to prepare the full budget pack with Income statement, balance sheet, cashflow & other required schedules.
• Setup review meetings with the line manager and Finance Director to agree on the submissions and prepare the budget presentation highlighting the variances with prior year.
• Communicating and agreeing the revenue and OPEX targets with all relevant stake holders if there are any iterations from the management or the board.
• Collaborate with the line manager and Finance Director on achieving company’s long-term financial planning objective
• Update reporting requirements from IDO and any other external stake holders.
• Assist in performing financial forecasting, reporting and analyse data to create multi-year financial sustainability models for planning and decision support.
• Develop financial models to support valuation, planning & forecasting
• Develop, document and periodically update business processes and budgeting policies of the Authority to maintain and strengthen internal controls

Decision support analysis & project evaluation:

• Detailed performance commentary on the periodic financial results (monthly/YTD) of the authority
• Preparation of monthly P&L of all the buildings of RAKEZ by collaboration with developmental & leasing teams by showing both revenues & OPEX.
• Prepare variance analysis at organisational & departmental level detailing the reasons on the variances in revenue, OPEX & CAPEX after discussion and agreements with the departments.
• Review business case analysis for new products, markets & marketing plans to support other departments. .
• Review sales incentive plan design and control
• Support commercial, CX & strategy department by preparing financial impact study for pricing analysis, promos and price alignment.
• ‘What if" and sensitivity analysis for CAPEX analysis and decision making.
• Provide accurate insights while preparing the authorities board and Ex-co reports.

Business Partnering:

• Closely co coordinating, building partnerships and maintaining strong relationships with all HODs and their teams by providing support
• Support in the department’s budget preparation, usage, allocation and monitoring
• CAPEX/Asset related issues and PR creation support
• Pricing related studies and support
• Variance analysis for the departments operating expenses.

MIS:

• Prepare the monthly CEO management pack with analysis of financial performance providing insights into revenue, SOV, OPEX, CAPEX and key performance indicators.
• Prepare the monthly board pack with analysis of current and past trends in key performance indicators including all areas of revenue, cost of sales, expenses and capital expenditures
• Assist in monthly CAPEX tracker highlighting the progress of each project against the forecast detailing the various milestones achieved within the project after discussing & agreeing with the relevant stake holders..
• Monthly departmental variance report highlining the performance during the period..
• Monitor performance indicators, highlighting trends and analysing causes of unexpected variance
• Ad-Hoc reporting and analysis
• Prepare board & Exco presentations as and when required

QUALIFICATIONS, EXPERIENCE, & SKILLS:

Educational Qualifications:

• Bachelor’s degree in Finance /Accounting.

Years of Experience:

• Minimum 3 to 4 yearsof experience in Budgeting & reporting.
• Accountancy qualifications (ACA/ACCA or equivalent).
• Expertise in ERP.
• SAP & SAC skills required

Other requirements:

• Fluent in English and Arabic (preferable)
• Commercial awareness, with an interest in business and an understanding of how an organisation works and manages resources.
• High level of numeracy.
• Ability to explain complex financial information in a clearway to different levels.
• Professionalism and commitment.
• Excellent oral and written communication skills
• IT proficiency.
• Project management skills.
• Strong interpersonal and teamwork skills, with the ability to work with colleagues at all levels including non-finance members of staff.
• Lively and enquiring mind with a logical approach to work, combined with analytical and problem-solving skills.
• Organizational skills with the ability to work under pressure and to deadlines.
• Stamina and motivation to balance the demands of work and study.