Financial Reporting & Consolidation Manager

Elite Group Holding; Dubai; On-site; AED 200,000 - 300,000; Full time

Job summary

A leading company in Dubai is seeking a Financial Reporting and Consolidation Manager to oversee financial reporting processes and ensure compliance with accounting standards. The role includes preparing consolidated financial statements, conducting variance analysis, and leading system improvements. Ideal candidates will have significant experience in financial reporting, preferably with a Big 4 firm, and a strong proficiency in ERP systems.

Qualifications

• 8-10 years of relevant work experience in accounting or financial reporting.
• Experience with a Big 4 accounting firm is an advantage.
• Proficiency in accounting software and ERP systems required.

Responsibilities

• Prepare consolidated financial statements according to GAAP or IFRS.
• Ensure compliance with accounting standards and regulatory requirements.
• Lead the implementation of accounting systems and financial reporting tools.

Skills

Financial Reporting

Consolidation Processes

Variance Analysis

Budgeting

Tax Compliance

Education

CA, CPA, ACCA, CMA, or Master's in Finance

Tools

ERP Systems (SAP, Oracle, Microsoft Dynamics)

Job description

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The Financial Reporting and Consolidation Manager is responsible for overseeing the financial reporting and consolidation processes for the organization. This role involves preparing consolidated financial statements, ensuring compliance with accounting standards, and providing accurate and timely financial reports to senior management. The manager will also play a key role in the continuous improvement of financial reporting processes and systems.

Key Duties and Responsibilities

1. Preparation of Financial Statements :
   • Prepare consolidated financial statements in accordance with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
   • Ensure accuracy, completeness, and timeliness of financial reporting.
2. Monthly, Quarterly, and Annual Reports :
   • Prepare and review monthly, quarterly, and annual financial reports.
   • Ensure reports are prepared in a timely manner and meet the requirements of senior management and external stakeholders.
3. Compliance and Regulatory Reporting :
   • Ensure compliance with all relevant accounting standards and regulatory requirements.
   • Prepare and submit required regulatory filings.
4. Consolidation Process

• Intercompany Transactions :
  • Oversee the elimination of intercompany transactions and balances during the consolidation process.
  • Ensure accurate and timely reconciliation of intercompany accounts.
• Subsidiary Reporting :
  • Coordinate with subsidiary finance teams to ensure accurate and timely submission of financial data.
  • Review and analyze subsidiary financial statements for consolidation.
• Consolidation Adjustments :
  • Identify and implement necessary consolidation adjustments.
  • Ensure all adjustments are properly documented and supported.

Financial Analysis and Support

• Variance Analysis :
  • Perform detailed variance analysis of consolidated financial results.
  • Provide insights and explanations for variances to senior management.
• Budgeting and Forecasting :
  • Assist in the preparation of consolidated budgets and forecasts.
  • Provide analysis and support for budget and forecast reviews.
  • Support strategic financial planning and decision-making processes.
  • Provide financial analysis and modelling as needed.

Process Improvement & System Implementation

• Identify opportunities for improvement in financial reporting and consolidation processes.
• Lead initiatives to enhance financial reporting systems and tools.

System Implementation :

• Lead and coordinate the implementation of accounting systems, including ERP (Enterprise Resource Planning) and other financial software.
• Work closely with finance and accounting teams to understand their needs and translate them into system requirements.
• Ensure the new system supports all necessary accounting processes, including accounts payable / receivable, general ledger, budgeting, and financial reporting.
• Configure the accounting system to meet the organization’s specific needs, including setting up chart of accounts, financial reporting structures, and internal controls.
• Work with vendors or internal IT teams to customize the system as necessary.
• Conduct system testing to ensure all configurations align with business requirements.

Policy Development :

• Develop and implement policies and procedures for financial reporting and consolidation.
• Ensure policies are communicated effectively and adhered to by all relevant parties.

Training and Development :

• Provide training and support to finance team members on financial reporting and consolidation processes.
• Foster a culture of continuous improvement and professional development within the finance team.

Audit, Tax and Compliance

• Audit Coordination :
  • Coordinate with internal and external auditors during financial audits.
  • Provide necessary documentation and support to auditors.
• Tax filing & Coordination :
  • Oversee and ensure timely preparation and filing of all tax returns, including corporate tax, VAT and any other relevant taxes.
  • Monitor and ensure compliance with local, state, and international tax laws and regulations.
  • Manage the preparation and review of quarterly and annual tax provisions.
  • Advise management on the tax implications of business decisions, including mergers, acquisitions, and other corporate transactions.
  • Identify opportunities for tax savings and coordinate the implementation of tax planning strategies.
  • Manage tax audits and disputes with tax authorities.
  • Prepare and present documentation to support the company’s tax positions during audits.
  • Collaborate with external tax advisors and legal counsel as needed.
• Internal Controls :
  • Ensure robust internal controls are in place for financial reporting and consolidation processes.
  • Regularly review and update internal control procedures.

Eligibility Criteria :

• Qualification : CA, CPA, ACCA, CMA, or Master in finance
• Minimum Experience : 8-10 years of relevant work experience in accounting, financial reporting, or a related area is typically required.
• Big 4 Experience : Experience with a Big 4 accounting firm (PwC, Deloitte, EY, KPMG) will be an added advantage.
• Proficiency in Accounting Software : Familiarity with ERP systems (e.g., SAP, Oracle, Microsoft Dynamics) and other financial reporting software is often required.

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Finance, Accounting / Auditing, and Management

Real Estate, Retail, and Transportation, Logistics, Supply Chain and Storage

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