Senior Manager Financial Reporting

Dubai Holding Asset Management; Dubai; On-site; AED 200,000 - 300,000; Full time

Job summary

A leading asset management firm in Dubai is seeking an experienced Accounting & Statutory Reporting Manager to oversee the preparation and consolidation of financial statements in compliance with IFRS. You will lead audit processes and ensure timely and accurate financial reporting within the Real Estate sector. The ideal candidate will have a minimum of 8 years of experience, including tenure at Big 4 firms, and strong ERP knowledge.

Qualifications

• Minimum 8 years of relevant experience in Accounting and Statutory Reporting.
• Experience in Big 4 accounting or consulting firms preferred.
• At least 3 years of experience in the Real Estate industry.

Responsibilities

• Prepare statutory consolidated / standalone financial statements.
• Manage monthly/quarterly/yearly closing of the General Ledger.
• Lead audits and coordinate with stakeholders for audit processes.
• Support financial advisory and compliance with accounting requirements.

Skills

IFRS expertise

Analytical skills

Leadership

Interpersonal skills

Oracle ERP knowledge

Education

Bachelor’s Degree in Accounting / Business

MBA in Business Management

CA / CPA / CMA

Tools

ERP Systems

MS Office (Excel)

Job description

The role holder is responsible for managing the preparation and consolidation of the statutory Financial Statements (consolidated / standalone) in accordance with IFRS and applicable laws. The role holder manages the financial audits and preparation of various financial statements and ensures timely management of monthly / quarterly / yearly closing of GL and the statutory reporting for DHAM and its business units in coordination with the auditors and relevant stakeholders.

Core Responsibilities

Financial Statements and Accounting Support

• Prepare DHAM’s statutory consolidated / standalone financial statements in accordance with IFRS and / or, local regulatory requirements.
• Provide expertise in consolidation of diverse group of entities involving companies / subgroups having cross.
• Provide recommendations in the review of the accounting aspects of complex transactions in accordance with IFRS / local GAAP.
• Manage the complete monthly / quarterly / yearly closing of GL with high level of accuracy. Ensure all month end closing entries have been accounted in General Ledger (GL).
• Ensure financial modules (AP, AR, FA, Cash management) are closed timely within ERP and accurate data is reported with strict adherence to the agreed month-end close schedule. This includes proactively coordinating with relevant stakeholders (Finance, Procurement, HC, IT & other relevant stakeholders) to explain the revised process / closing deadlines & ensure strict adherence to the same.
• Support the Director by researching on new accounting standards (e.g. IFRS 15, IFRS 9 etc.) and highlighting its application and impact on DHAM’s financial statements with options to report to management (VP, CXO).
• Support the Director in providing guidance and assistance to the various accounting teams in the implementation of the accounting policies, procedures, controls and monitoring activities.
• Assist in preparing and analyzing reports / schedules / reconciliation including validation of the integrity of financial database, and accuracy of processed transactions for certain key balance sheet and P&L balances / accounts in order to support management / group / statutory reporting.
• Manage the accounting implications for the various assigned key Balance Sheet and P&L balances / accounts with regards to providing technical guidance in accordance with IFRS / local regulations including best practices as well and interaction with key DH Finance leadership and relevant DHAM executives.
• Review related party and inter-company reconciliations, obtain confirmations, investigate and resolve all the reconciling items identified in the reconciliation. Communicate with Dubai Holding for the listing of the related parties at DH level to identify the related parties and summarize the transactions with the related parties. This also includes preparing memorandum relating to offsetting of related party/intercompany balances, if any, and declaration of dividends.
• Review monthly account reconciliations dashboard reflect overall efficiency of account reconciliation process, implementation of recommended action plans and monitor health of underlying finance schedules.
• Conduct timely and detailed analysis and provide recommendations related to Finance Policies and Procedures, Compliance, IFRS / Local reporting requirements, Financial Statements (consolidated / standalone) matters to support the accounting function and the overall Finance Division to achieve its business objectives.
• Support the Director – Accounting & Statutory Reporting in providing financial advisory and recommendations on various complex financial transactions.
• Support the Director – Accounting & Statutory Reporting in preparing and verifying accuracy of bank covenant compliance certificates.
• Act as Accounting & Statutory Reporting delegate in the absence of Director – Accounting & Statutory reporting to address challenges and issues.

Auditing Support

• Independently manage & lead the audit of outsourced entities (DDA Group, D Marin etc.) and ESCROW audits with the relevant stakeholders (internal functions, RERA auditors, Banks etc.).
• Co-ordinate with Dubai Holding, subsidiaries, external / internal auditors, other departments / business units and manage the entire audit process efficiently and effectively. This includes cascading agreed timelines, ensuring adherence to deadlines, reviewing the accuracy of financial line items and completeness of disclosures of the financial reporting packages for the yearly / half yearly audits.

System Support (ERP / Hyperion / Yardi)

• Support the evaluation and review of the ERP related system requests and changes for the various financial modules.
• Prepare, review & minimize GL manual journals and co-ordinate with the IT focal point for system automation.

Continuous Improvement

• Actively contribute for the revision and development of the DHAM’s Accounting Policies and Procedures manual including continuous enhancement / improvement of the Policies and Procedures.

People Management

• Provide leadership within the function, setting individual objectives, managing performance, developing, and motivating staff, provision of formal and informal feedback and appraisal – in order to maximize subordinate and departmental performance in the pursuit of the Department’s objectives.
• Build and promote an organization culture that encourages innovation and reward performance that leads to enhanced staff motivation and retention.

Minimum Qualification:

• Bachelor’s Degree in Accounting / Business or related field.
• MBA in Business Management preferred.
• CA / CPA / CMA or equivalent professional qualification in accounting.

Experience:

• Minimum 8 years of relevant experience in Accounting and Statutory Reporting.
• Big 4 accounting / consulting firms experience preferred.
• At least 3 years of experience in the Real Estate industry within the Middle East.

Technical Competencies

• Sound practical exposure of IFRS, GAAP and Audit.
• Strong analytical and number crunching skills.
• Lead operations, personnel and financial initiatives that contribute to growth and profitability.
• Excellent interpersonal skills.
• Use critical thinking to effectively resolve conflicts / problems.
• Ability to work a flexible schedule during key business deadlines.
• Excellent ERP knowledge (Oracle, Hyperion Preferable).
• Proficient in MS Office programs especially MS Excel.