Finance Manager

This role will work specifically with our Creates division. CE-Creates is Crescent Enterprises’ internal business incubation platform, which develops early-stage concepts into socially relevant, economically viable, and scalable ventures aimed at building the next generation of operating businesses for the company. The platform is a manifestation of Crescent Enterprises’ focus on fostering entrepreneurship, innovation, and generating positive sustainable impact. Since its inception, the platform has launched ventures in the areas of food and beverages, sustainable mobility, and food technology.

MAJOR FUNCTIONS

• Provide detailed financial and commercial evaluation of CE-Creates projects and build their financial plans.
• Develop and oversee financial KPIs, accounting, governance, and reporting structures for CE-Creates and all incubated start-ups and portfolio companies.

ESSENTIAL FUNCTIONS

Incubation Involvement:

• Provide detailed financial analysis on potential CE-Creates projects as part of the concept development phase.
• Provide key support to the VP and other members of CE-Creates with accurate financial, business intelligence and commercial inputs on all projects enabling effective decision-making.
• Provide resources and support to incubated startups by identifying and onboarding suitable candidates for finance/ accounting positions and supervising accordingly.
• Be responsible for developing and maintaining standardized financial models, forecasts and budgets across the portfolio.
• Build and strengthen the finance and reporting function for the CE-C platform and all projects.
• Establish and implement best-in-class financial standard operating procedures (SOP’s) for all CE-C projects under the overall CE framework.

Financial modelling

• Develop and maintain, in early incubation stage, and oversee, at later stage, financial models for all CE-C projects in different sectors and at various growth stages. The models should provide comprehensive financial statements along with key KPIs.
• Thoroughly capture actuals’ data against projections, facilitating prompt reporting on results compared to targets.
• Prepare presentations (in PPT, word memos etc.) succinctly explaining the financial feasibility of projects, including all key financial metrics (revenue, fixed costs / variable costs, profitability, capital requirements, cash flows, return on investment / payback, etc.).

Accounting and reporting function

• Develop a strong accounting department for CE-Creates at a division level and for each of its projects.
• Supervise the team by providing guidance on tasks to perform within standard timeframes and ensure quality in all aspects, including data storage and retrieval.
• Consolidate all financial data, coming from the various systems being used by each of the CE-C projects, into one common accounting and reporting platform.
• Ensure full compliance with IFRS, and prepare financial statements for audit by the CE group auditor in the approved time frame.
• Prepare annual budgets for the division and for each of its projects for approval by the CE Board. Closely monitor that financial commitments are within the approved budgets and promptly flag any potential variances.
• Provide periodic detailed financial reports on the division to CE for consolidation purposes, (such as weekly funds position, monthly budget vs. actuals (with explanations for variances, cash flows, income statement and balance sheet with schedules etc.).
• Ensure full compliance with all local and international regulations (such as UAE VAT law).
• Issue and verify cash-calls for all the CE-C businesses.
• Implement VAT strategy, including reporting and filing for all businesses.
• Ensure adherence to DoAs and approved budgets for all businesses.