Senior Finance Manager
Gulf Related Real Estate Management
مجموع سنوات الخبرة :19 years, 8 أشهر
• Ensuring that adequacy of the internal financial controls and recommend changes in consultation with Head of Finance in order to achieve the financial objectives.
• Continuous review and up gradation of the systems, processes, policies & procedures in order to the successful accomplishment of the organizational objectives.
• Formulating budgets & forecasts and conducting variance analysis.
• Monitoring cash flow cycle and preparing cash flow forecast on monthly basis, reporting on the company’s existing cash position and highlighting any anticipated cash calls (if any) from the partners to meet the operational and development cash needs.
• Critical analysis of the budget assumptions provided by the leasing, marketing and operations department before incorporating the same in budgets and forecasts.
• Preparation of MIS reports to provide feedback to the top management on the financial and operational performance of the company.
• Preparation of P&L forecast on quarterly basis and highlighting the areas of risks which needs to be addressed to achieve the budgeted results.
• Conducting the revenue analysis on monthly basis to ensure the accuracy and completeness.
• Review the progress payment claims from contractors against terms of the contract and project completion.
• Regularly meeting with the project management team to review and report on the project costs, budget monitoring and project status for the purpose of executive management reporting and accounting.
• Continuous monitoring of the working capital and liquidity position of the company.
• Analyzing the company’s financial and operational performance to ensure the bank covenants are met satisfactorily and highlighting any upcoming risks to avoid any default.
• Monitor and control Accounts Receivable, Accounts Payables, Fixed Assets and General Ledger.
• Responsible for month and year end closure in a timely manner.
• Responsible for overseeing accounting procedures in accordance with international financial reporting standards.
• Responsible for balance sheet integrity by reviewing the detailed schedules on monthly basis.
• Liaising with internal and external auditors.
• Providing value added reports to the internal stakeholders to assist them in decision making.
• Other ad-hoc reports and analysis as requested by the management.
Key Accomplishments:
• Developed a dynamic financial model in excel to assist the management in strategic decision making.
• Active participation in JD Edward implementation.
• Managing accounting & reporting for Aldar’s major retail and commercial properties viz Al Jimi Mall, Al Ain Boutik, Al Falah Retail, Al Bandar Retail and Baniyas Tower.
• Undertaking periodic financial analysis along with the commentaries on major variances.
• Managing budgets with the support of variance analysis and advice rollover budget to the management.
• Review of lease agreements prior to the activation in ERP (Oracle).
• Monthly review of rent rolls and provision for revenue and expenses.
• Managing the owner’s association accounting.
• Developing and managing the financial models to monitor the business performance.
• Review contractor’s progress billing against the terms of the contract.
• Assisting the management with the review of business process to improve the portfolio’s efficiency.
• Coordination with external auditors.
• Other ad-hoc reports and analysis as requested by the management.
Key Accomplishments:
• Coordinated with ERP team in order to setup the new leasing module in Oracle R12.
• Implemented the accounting process for owners association and provide training to the operational team.
Key Result Areas
• Preparation of monthly financials with detailed variance analysis report along with commentaries on major variances.
• Monitoring business performance against KPI’s.
• Preparation of annual budgets with the coordination of business operations along with supporting schedules.
• Submission of annual cost center wise budget to group finance for SAP upload and group consolidation.
• Preparation of consolidated budgeted P&L for more than 50 properties.
• Preparation of quarterly forecasts.
• Preparation and submission of quarterly cost center wise forecasts to group finance.
• Preparation and submission of monthly report on JV financial results to the management.
• Preparation of monthly consolidated AR aging report for more than 20 SPVs.
• Active participation in the preparations of five year business plans.
• Provide support to the business with customized reports and system improvements.
• Ensure that proper Books of Accounts are maintained in accordance with GAAP and IFRS.
• Responsible to release POs and ensures that approvals have been obtained as per delegation of authority (DOA).
• Review of monthly and annual accruals.
• Active participation in the formulation of service charge budgets and accounting model for owners associations for DFC residential properties.
• Coordinate with internal and external auditors.
• Preparation of ad-hoc reports for group treasury.
Key Achievements:
• Compilation of monthly and annual financial management report for BOD.
• Preparation of financial model in excel for breakeven service charge analysis.
• Setting up the KPIs for leasing department with the coordination of business head.
• Participated in business valuation exercise.
Key Result Areas
• Managing day to day accounting functions.
• Management of Accounts Payables and Accounts Receivables.
• Preparations of monthly accruals schedule.
• Responsible for the release of purchase orders.
• Timely closing of books of accounts.
• Managing fixed assets.
• Managing the Owners Association books of accounting.
• Liaised with internal and external auditors.
Key Achievements:
• Introduced and establish the system of owners association accounting.
• Cleared more than 18 months backlog in less than 2 months time.
Key Result Areas
• Management of complete accounting functions on day to day basis.
• Management of payables and receivables.
• Preparation of bank reconciliation.
• Managing the transactions with related parties.
• Responsible for inventory management.
• Monthly closing of books of accounts.
Key Achievements:
• Elimination of accounting backlog.
• Established job order costing system for aluminum & glass business of the group.
• Established the system of internal controls for inventory and procurement.
Key Result Areas
• Set up computerized accounting system.
• Inventory management and control.
Key Result Areas
• Assisting audit supervisor on statutory audit assignments.
• Annual stock taking for statutory audits.
• Verification of fixed asset schedule and asset register.
• Verification of fixed asset purchase process.