Head – Finance Job In UAE
Budgeting and Cost Control
- Assist the Concept Head in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions
- Managing the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting
- Business Partnering with CEO on long-term business plan, business Insight and financial planning (including new investment) considering shareholder’s interest.
- Formulate financial policies/procedures for the Concept within the framework of the group policies aimed at achieving the business growth and controls and ensure that the Finance Team follows internal control measures to safeguard financial interests
- Participate in the preparation of buy budgets for concept across territories
- Facilitate the setting up of sales projections and of purchase budgets based on projected sales for each shop in the territory and each department
- Through the Senior Finance Manager / Finance Manager, coordinate the operational, seasonal, buying budgets with the various management teams, including financial projections and cash flow statements, and ensure that they are prepared and finalized
- Monitor annual purchase budgets as per plan
- Ensure that the annual financial budgets for the Concept are drawn based on the corporate strategy
- Review budgets of the Concept and Territory operations monthly and revise allocations if necessary
- Exercise necessary budgetary controls on all costs incurred by the Concept, ensuring that they comply with the drawn budgets
- Review and discuss monthly financial accounts and variances against budget achieving cost control on the controllable expenditures
- Ensure that the overall margins to be achieved are as per budgets
- Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget
- Monitor import shipments and control costs
- Review management analyses from the quarterly data to identify variance from trends and budgets
- Ensure delivery of set standards of MIS reports for various departments, ensure periodic MIS generation and interpret data to suggest ways of cost optimization and store performance improvement
- Review and provide exceptions, variance, business productivity, stock, sales, financial and budgetary analyses through MIS reporting
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Accounting and Audit
- Manage payables and receivables for the Concept
- Approve, authorize all payments and ensure accuracy in timelines and accuracy in all payments
- Set up controls and procedures for debtors’ invoices and for monthly cash certificates
- Develop and maintain systems for prompt and accurate collection of financial and accounting information
- Maintain accounting by ensuring expenses are properly accounted for
- Ensure thorough checking of the entire MIS prior sending to RNA and Corporate office while adhering to agreed timelines
- Ensure generation of monthly and quarterly financial statements – Balance Sheet and P/L statements in compliance with the statutory/regulatory norms
- Ensure creditors accounting and the non – RNA company accounting is taken care of
- Supervise timely and accurate internal audits and finalize Accounts for the Concept
- Ensure Compliance to Company policies, practices, and accounting standards
- Ensure that the annual financial statements of the company are drawn up in time in line with the corporate guidelines
- Set up controls and procedures for debtors’ invoices and for monthly cash certificates
- Supervise on-time preparation of statutory accounts and liaise with external auditors when required
- Supervise Banking transactions – daily fund management, liaison with banks for utilization of funds / bank limits, analyze banking facilities
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Purchase, Inventory and Project Execution
- Ensure proper merchandise management in the territories
- Ensure optimal / economic stock holding
- Negotiate and review arrangements with local purchase suppliers, non trading material suppliers
- Supervise, control and authorize all purchases (local+ non-Trading)
- Review the stocks in line with pre decided norms on terms of stocks levels, stock ageing, and slow moving items, to take timely decisions whenever required
- Review new projects – focusing on Break even points / sales break even; main cash flows and P/L accounts
|
Logistics
- Monitor effectiveness in the entire end to end supply chain process for the Concept
- Help the corporate team in managing and overseeing in-bound and outbound logistics activity
- Coordinate with Suppliers through Buying team for delivery of merchandise
- Coordinate with Clearing team for clearance of imports with Procurement team
- Coordinate with the central warehouse for receiving, warehousing and delivery of product in a manner consistent with Concept service and cost objectives
- Help the corporate team in preparing the routing and shipping plans, agreements with third party service providers and manage the delivery schedules
- Monitor the Corporate Supply Chain team on supply chain efficiency and effectiveness optimization initiatives
- Monitor freight forwarding by logistics partners
|
Legal and Insurance Matters
- Through the Senior Finance Manager / Finance Manager, ensure safe custody of all company assets
- Liaise with Legal department and coordinate with the Corporate legal and local legal offices on legal matters
- Ensure timely renewal of Trade Licenses / Lease Agreements / Commercial terms with the different authorities, with PR support
- Ensure renewal and registration of Trademarks
|
Information Technology
- Ensure smooth functioning of operating system, database, application server software and middleware
- Avert IT infrastructure problems and resolve issues before they impact business availability
- Ensure minimum downtime of critical IT systems
- Ensure efficient turn around of IT software and hardware related complaints, queries
- Ensure query design, maintenance and management for MIS generation through ERP systems
- Oversee implementation of new IT initiatives
- Correspond with the Oracle team in the resolution of ERP issues (roll out and system)
|
People Management
- Manage the performance of the team – set annual performance goals, monitor performance, and provide constructive feedback to improve performance.
- Identify their training and development needs and ensure their fulfilment
- Develop and mentor subordinates to move to the next higher level of job through career planning
- Ensure compliance to Company policies and values
|
Miscellaneous
- Initiate and implement improvements in business processes
- Train and educate the team members about errors/new developments
- Ensure adequate Concept support for new territories
- Handle all the general administrative affairs of the Concept
- Ensure that assets are safeguarded and that transactions are properly authorized, recorded, and reported
- Handle franchise agreements with Brand principles (if applicable)
|
Qualifications
Budgeting and Cost Control
- Assist the Concept Head in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions
- Managing the processes for financial forecasting and budgets, and overseeing the preparation of all financial reporting
- Business Partnering with CEO on long-term business plan, business Insight and financial planning (including new investment) considering shareholder’s interest.
- Formulate financial policies/procedures for the Concept within the framework of the group policies aimed at achieving the business growth and controls and ensure that the Finance Team follows internal control measures to safeguard financial interests
- Participate in the preparation of buy budgets for concept across territories
- Facilitate the setting up of sales projections and of purchase budgets based on projected sales for each shop in the territory and each department
- Through the Senior Finance Manager / Finance Manager, coordinate the operational, seasonal, buying budgets with the various management teams, including financial projections and cash flow statements, and ensure that they are prepared and finalized
- Monitor annual purchase budgets as per plan
- Ensure that the annual financial budgets for the Concept are drawn based on the corporate strategy
- Review budgets of the Concept and Territory operations monthly and revise allocations if necessary
- Exercise necessary budgetary controls on all costs incurred by the Concept, ensuring that they comply with the drawn budgets
- Review and discuss monthly financial accounts and variances against budget achieving cost control on the controllable expenditures
- Ensure that the overall margins to be achieved are as per budgets
- Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget
- Monitor import shipments and control costs
- Review management analyses from the quarterly data to identify variance from trends and budgets
- Ensure delivery of set standards of MIS reports for various departments, ensure periodic MIS generation and interpret data to suggest ways of cost optimization and store performance improvement
- Review and provide exceptions, variance, business productivity, stock, sales, financial and budgetary analyses through MIS reporting
|
Accounting and Audit
- Manage payables and receivables for the Concept
- Approve, authorize all payments and ensure accuracy in timelines and accuracy in all payments
- Set up controls and procedures for debtors’ invoices and for monthly cash certificates
- Develop and maintain systems for prompt and accurate collection of financial and accounting information
- Maintain accounting by ensuring expenses are properly accounted for
- Ensure thorough checking of the entire MIS prior sending to RNA and Corporate office while adhering to agreed timelines
- Ensure generation of monthly and quarterly financial statements – Balance Sheet and P/L statements in compliance with the statutory/regulatory norms
- Ensure creditors accounting and the non – RNA company accounting is taken care of
- Supervise timely and accurate internal audits and finalize Accounts for the Concept
- Ensure Compliance to Company policies, practices, and accounting standards
- Ensure that the annual financial statements of the company are drawn up in time in line with the corporate guidelines
- Set up controls and procedures for debtors’ invoices and for monthly cash certificates
- Supervise on-time preparation of statutory accounts and liaise with external auditors when required
- Supervise Banking transactions – daily fund management, liaison with banks for utilization of funds / bank limits, analyze banking facilities
|
Purchase, Inventory and Project Execution
- Ensure proper merchandise management in the territories
- Ensure optimal / economic stock holding
- Negotiate and review arrangements with local purchase suppliers, non trading material suppliers
- Supervise, control and authorize all purchases (local+ non-Trading)
- Review the stocks in line with pre decided norms on terms of stocks levels, stock ageing, and slow moving items, to take timely decisions whenever required
- Review new projects – focusing on Break even points / sales break even; main cash flows and P/L accounts
|
Logistics
- Monitor effectiveness in the entire end to end supply chain process for the Concept
- Help the corporate team in managing and overseeing in-bound and outbound logistics activity
- Coordinate with Suppliers through Buying team for delivery of merchandise
- Coordinate with Clearing team for clearance of imports with Procurement team
- Coordinate with the central warehouse for receiving, warehousing and delivery of product in a manner consistent with Concept service and cost objectives
- Help the corporate team in preparing the routing and shipping plans, agreements with third party service providers and manage the delivery schedules
- Monitor the Corporate Supply Chain team on supply chain efficiency and effectiveness optimization initiatives
- Monitor freight forwarding by logistics partners
|
Legal and Insurance Matters
- Through the Senior Finance Manager / Finance Manager, ensure safe custody of all company assets
- Liaise with Legal department and coordinate with the Corporate legal and local legal offices on legal matters
- Ensure timely renewal of Trade Licenses / Lease Agreements / Commercial terms with the different authorities, with PR support
- Ensure renewal and registration of Trademarks
|
Information Technology
- Ensure smooth functioning of operating system, database, application server software and middleware
- Avert IT infrastructure problems and resolve issues before they impact business availability
- Ensure minimum downtime of critical IT systems
- Ensure efficient turn around of IT software and hardware related complaints, queries
- Ensure query design, maintenance and management for MIS generation through ERP systems
- Oversee implementation of new IT initiatives
- Correspond with the Oracle team in the resolution of ERP issues (roll out and system)
|
People Management
- Manage the performance of the team – set annual performance goals, monitor performance, and provide constructive feedback to improve performance.
- Identify their training and development needs and ensure their fulfilment
- Develop and mentor subordinates to move to the next higher level of job through career planning
- Ensure compliance to Company policies and values
|
Miscellaneous
- Initiate and implement improvements in business processes
- Train and educate the team members about errors/new developments
- Ensure adequate Concept support for new territories
- Handle all the general administrative affairs of the Concept
- Ensure that assets are safeguarded and that transactions are properly authorized, recorded, and reported
- Handle franchise agreements with Brand principles (if applicable)
|
: Landmark Hospitality Finance and Accounts
Day Job
: Feb20, 2023, 12:13:59 PM
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