Overview

About the job

Job Description:
Job Title: Financial Planning & Reporting Head
Job Location: Dubai

Role Purpose:
The role is primarily responsible for:

  • Establishing a reporting & planning & appraisal framework that allows for timely quality decisions in line with the strategic direction of the Group: Through stronger attention to forward looking insights in line with business objectives, create a balanced risk based picture that is underpinned by external trends and recent (historical performance)
  • setting the roadmap to improve forward looking insights, financial analysis, financial accounting systems and reporting
  • driving and developing financial processes and systems, including strategic financial planning and decision support for key stakeholders/top management
  • developing financial reporting calendar per year and
  • managing group reporting and statutory audit process
  • Ensuring the different parts of the organization are adequately informed about its performance as well as the relevant aspects of the Group.

With a dynamic work environment, the role requires the ability to work both independently with high attention to detail as well as fostering cross-functional collaboration. The role is also expected to strive for continuous innovation to ensure corporate finance function provide relevant reporting to business leaders.

Key Accountabilities: Financial Reporting:

  • Drive transparent, consistent and timely reporting through digital management reporting to fulfil business needs with development of new financial reporting and consolidation system solutions (i.e. Hyperion).
  • Develop and ensure consistent application of accounting policies in line with the generally accepted accounting principles in the jurisdictions of the business (for example in the UAE – IFRS)
  • Develop financial reporting templates and ensure consistent application
  • Prepare financial reporting calendar for the year and communicate with the Group Controller for implementation.
  • Implement relevant accounting and financial reporting (manual & system) controls in existing procedures.
  • Review Business Unit Financial Reporting Package Submissions, including R&O assessment
  • Prepare monthly group management reports/presentations, and ad hoc reports where required.
  • Maintain Group Chart of Accounts (GCOA) and approve any changes on the local business units COA to ensure such changes are mapped to the GCOA
  • Liaise with auditors for establishing assurance plans and timely completion of engagements
  • Prepare management positions memo related to complex technical accounting issues
  • Facilitate IFRS Update trainings to business unit finance teams
  • Prepare consolidated financial statements and related analysis on a monthly basis
  • Prepare consolidated financial statements including relevant notes thereto to be used for audit purposes
  • Prepare and monitor relevant financial reporting policies and procedures, such as: Financial Statement Closing Process and Related Party policies.

Financial Planning & Forecasting:

  • Assist in developing group strategic financial plans and support in driving innovative budget setting process for the Group
  • Ensure the long term plans are connected to reality, including insights in steps to be taken to achieve the long term goals.
  • Protect reality in submissions, and differentiate / create insights how these compare with stretch targets or ambitions.
  • Prepare standard template to facilitate the budget setting process
  • Provide guidance on key assumptions and trends that are to be embedded in future plans
  • Review budget and forecast submissions of each business units
  • Prepare consolidate budget for the Group on an annual basis
  • Develop reasonable bases (for recommendation to the top management) and review corporate cost allocation on a quarterly basis, with collaboration with Tax department primarily on any related transfer pricing requirement.

Financial Analysis & decision support:

  • Conducts and develop financial analytical models to support strategic decision-making processes of business leaders through forward looking insights that highlights risks and opportunities to pursue
  • Uses that data to advise management on decisions such as how to improve performance, minimize risk or capture new opportunities from both within the company and within the external environment
  • Provide financial update through ad hoc analytical reports and hold business management accountable for performance by recommending measurable key performance indicators and advice management on required interventions
  • Conduct relevant costing, SWOT analysis, internal and external benchmarking exercise (for certain relevant KPIs) and subsequently recommend actions to: increase productivity of resources, reduce cost, and maximize profits.
  • Perform market & industry research (i.e. trend, innovations & outlook) and provide meaningful and relevant business insights to the top management

Internal: Job Communication:

  • Business units Finance leads
  • Treasury
  • Tax
  • IT
  • Legal
  • Executive Management.

External:

  • Consultants
  • Financial Institutions
  • Auditor

Competencies: Core Competencies:

  • Curious
  • Teamwork & manage relationships
  • Communication & engagement: good listening skills and comfortable to share own opinion
  • Integrity

Technical Competencies:

  • Analytical & lateral Thinking
  • Planning & Organizing
  • Problem Solving
  • Team Leadership
  • Forward looking & strategy/ planning
  • Pragmatic & risk based
  • Advanced excel and PowerPoint skills

Qualifications, Experience, Knowledge & Skills:

  • Degree in Finance from a reputable university or colleges or with CPA/CMA qualification
  • 10 + years related working experience in business finance related roles, including evidence of understanding the needs and working together with specialized finance functions. Over time the successful incumbent has highlighted his/her ability to grow and develop him/herself as well as the members around
  • Proven capability to drive “management in control” & forward looking capabilities, with the full general ledger as foundation
  • As the incumbent will be successful through managing dotted lines, the ability to engage with people at all levels in the organisation, with humility towards people of different background
  • Proven capability to initiate and deliver in a world of change, also when dealing with stakeholders with different & competing needs.
  • Must have proven leadership ability, communications skills, interpersonal skills, relationship management skills and sound judgment (and wiling to act on that).
  • Strong advanced analytical skills.
  • Excellent Oral and written skill in English.

About Paraminfo

ParamInfo is a Global Leader in providing Consulting, IT Services, IT Solutions, and Outsourcing. We are one of the fastest growing IT service providers with operations in UAE, India and USA. With a result-oriented approach, quality deliverables, and successful long term relationships represent ParamInfo's professionalism, dedication, passion and dynamism as leaders. Providing solutions aimed at improving business management through streamlining business and IT processes.