Job Title: Head of Finance & Reconciliation - UAE
Industry: Financial Services
Location: Dubai
Salary: Competitive Salary Package + Benefits
If you report to someone functionally, it means the person is in a more senior role in your business function (for example, marketing, operations, HR or sales), and is therefore responsible for providing you with guidance and general direction on matters pertaining to your business function.
Job Purpose:
Responsible for the management of financial processes and procedures and optimization of costs for the Company so as to ensure achievement of the set business objectives as well as having an oversight responsibility on Reconciliation / Settlement
Responsibilities:
Reporting
- Ensure timely and accurate financial reporting for internal purposes (top management, board of directors, annual general meetings, board committees, etc…), group and statutory requirements
- Preparing the Annual Operating Plan (AoP), understanding and challenging the key business drivers
- Preparation of re-forecasts of the AoP or any other targets as necessitated by circumstances to keep the planning document relevant
Treasury
- Review working capital requirement on a regular basis.
- Effectively and efficiently manage the cash and liquid assets of the Company with a view to ensuring that obligations to customers are met as and when due.
- Negotiate/arrange External finance when necessary.
Business Budgeting & Planning
- Review the Business Plan prepared and get it approved by EXCO and the Group
- Assist the Country Manager / Director to define the strategy of the institution within the regulatory, industry, technological framework in-country
- Prepare yearly budget in collaboration with the various departments
- Monitor the budget execution and ensure measures are taken to close performance gaps
- Ensure all expenditure is within AoP and any necessary unbudgeted expenditure is in line with policy and procedures
Regulatory
- Ensure compliance with banking regulations and adherence to Central Bank stipulations on Company operations
- Develop and implement financial control policies and procedures.
- Ensure all processes and controls are well documented and updated on a regular basis
- Ensure accurate and timely submission of tax returns and payment
Reconciliation:
Outcome
Activities
1. Prepare the account reconciliation daily to ensure compliance with Central Bank and group directives.
- Prepare on a daily basis the account reconciliation as per group format in or any other format that provides the most accurate picture of the goings on in the account
2. Prepare the account reconciliation daily to ensure compliance with Central Bank and group directives.
- Follow up on the reconciling items and endeavor to resolve all issues whether process or system related.
3. Payments to Company Partners and Suppliers to fulfil contractual obligations.
- Processes partners’ payments after checking the invoice for accuracy and completeness.
4. Payments to Partners and Suppliers to fulfil contractual obligations.
- Ensures timely approval of cheques/transfers and follows up with the bank to ensure settlement within the set timelines.
5. Payments to Partners and Suppliers to fulfil contractual obligations..
- Posts payments into the system in a timely manner and reconciles the payments register on a timely basis.
6. Payments to Partners and Suppliers to fulfil contractual obligations.
- Updates the cheques/Transfers register on a daily basis to enable informed cash management.
7. Prepare Merchants settlements after verification and validation of their respective collections as per contractual obligations.
- Prepare Merchants settlements after verification and validation of their respective collections as per contractual obligations.
8. Prepare Merchants settlements after verification and validation of their respective collections as per contractual obligations
