A well-known and well-reputed Company based in Ras Al Khaimah, United Arab Emirates is looking for an experienced, skilled, competent, mature, qualified, creative, and intelligent candidate with significant knowledge and relevant working experience for the position of “Finance Manager”.
Company Name |
RAK Hospitality Holding LLC, Ras Al Khaimah |
Qualification | Bachelors Degree | Masters Degree (Accounting/Finance) | ACA | ACCA | CMA |
Experience | 10 – 15 years of Relevant Experience Required |
Monthly Salary | 30,000 AED – 35,000AED |
Employment Type | Full Time | Permanent |
Company Size | 50-100 Employees |
Benefits | Medical Insurance |
Location | Ras Al Khaimah |
The Finance Manager will oversee the integrity of all accounts across the Group including consolidated management accounts, budgets and forecasts and will play a key role in financial planning and reviews across the Group. The Finance Manager is also is responsible for assisting the Head of Finance in ensuring that risks are appropriately managed and monitored.
Financial/Management Accounting
- Prepare management accounts for review by the Head of Finance
- Provide relevant inputs for the preparation of management reporting pack
- Devolve operational reporting to various functional managers through the provision of appropriate reporting tools that will enable managers to plan and review the financial performance of their functions
Budgeting/Forecasting
- Assist the Head of Finance with the preparation of the detailed annual budget and forecasts
- Provide the relevant input to the Head of Finance, for preparation of locked and rolling forecasts on a periodic basis
- Prepare the operational budget timetable and work with relevant teams to enable the business to meet agreed deadlines
Accounts Payable
- Review and verify whether payments and invoices are processed accurately and in a timely manner
- Coordinate with third party vendors and functions to resolve questions/ issues and reconcile accounts
- Perform monthly reconciliations between suppliers’ statement of accounts with accounts payable sub-ledger to ensure accurate reflection of account balances
Accounts Receivable
- Assure timely collection of monies due to the Group
- Monitor and report on deviations from credit standards
- Assure timely and accurate invoicing
- Conduct credit checks, establish and manage limits for credit customers
- Make recommendations to improve quality of invoicing and collection procedures
Fixed Assets
- Review, monitor, and process fixed assets requests on a timely basis (transfers and retirements)
- Prepare monthly capital spending reports for issuance to Senior Management.
- Ensure fixed asset acquisitions and dispositions are recorded properly
- Reconciliation and analysis of fixed asset accounts
Treasury
- Understand, manage, and supervise all aspects of cash flow
- Forecast the Group’s cash requirements and execute daily financing decisions
- Assist the Head of Finance to manage long-term and short-term investment strategies
- Prepare or monitor company’s various cash flow forecasts and perform financial modelling
- Manage relationships with financial service providers
Statutory Accounting/Reporting
- Ensure the General Ledger (GL) and relevant sub ledgers are closed on a monthly basis, for internal management reporting purposes, and on an annual basis, for external financial statement reporting purposes.
- Oversee the Group Consolidation and reporting to the Board
- Manage new and existing regulatory requirements where appropriate and ensure these are complied with Payroll
- Be responsible for all of the outputs of the payroll function with a view to putting in place the necessary controls and checks that ensures all employees are paid accurately and on time
- Review the monthly payroll and process electronic payments to employees
- Review and verify whether payments and invoices are processed accurately and in accordance with established procedures
Risk Management
- Identify, analyse and manage risks on an ongoing basis
- Identify emerging risks and report to relevant stakeholders
- Monitor risks on an ongoing basis (quarterly or more frequently, as required)
Additional Duties
- Oversee the Group VAT preparation and submission processes, introduce health checks to ensure compliance with FTA requirements
- Support Head of Finance in the IDO internal audits and annual external audit activities
- Prepare periodic / ad-hoc reporting to IDO in line with their requirements.
- Review the financial management needs of the organization and propose new systems and processes to support these needs where appropriate, as well as assist with the implementation of the same
- Analyse gaps within current finance policies and procedures including imparting relevant training to staff on such policies and procedures
- Other ad hoc duties and tasks including covering the Head of Finance when he/ she is away from business
Minimum Qualifications
- Undergraduate degree and/ or Postgraduate degree in Finance, Accounting or a relevant subject
- A fully completed professional qualification (ACA, ACCA or CIMA preferred)
Minimum Experience/Skills
- Minimum of 10 years of proven experience in a similar position
- Minimum of 5 years of experience in the Middle Eastern region
- Ideal candidate would be a qualified accountant with strong experience in the hospitality/ F&B/ Leisure sector at an assistant manager or manager level
- Strong background in risk policy and related processes
- Past experience working with Big 4 and an international hotel chain would be considered an advantage
Job-Specific Skills
- Strong knowledge of IFRS
- Experience in establishing risk management frameworks
- Analytical skills to identify trends, investigate variances and propose corrective actions
- Ability to implement, monitor and test internal controls relating to the revenue cycle of the Group
- High level of accuracy and demonstrates attention to detail
- Advanced level spreadsheet skills (Excel), presentations (PowerPoint) and PC literacy
- Strong technical skills in terms of financial systems (Micros, Opera, SUN, Oracle, Hyperion/ HFM)