Previous Job
Ref No.: 14-01219
Location: Dubai AE
Position Type:Direct
Experience Level: 11 Years
Start Date: 17/09/2014
Job Description:
  • To provide leadership and coordination of company financial planning, budget management, accounting / administrative and operations functions.
  • The CFO will also be responsible for ensuring company cash flows conform to board approved authority levels and are accounted for in accordance with approved accounting policies and, where appropriate, new procedures are put in place and implemented for all support functions.
  • The CFO will also ensure all risks are addressed and adequate mitigation is in place particularly with respect to legal risks.
Specific Responsibilities:
Handle all financial related correspondence and all contractual letters.
Assist in performing all tasks necessary to achieve the organization's mission and help execute staff succession and growth plans.
Coordinate with Banks on Escrow Account operation (payments and receipts) and loan related transactions.
Review and check all project payments to contractor, consultants, government authorities and marketing expenses.
Tracking of actual expenditures against budget.
Preparing monthly financials to Board of Directors of Joint Venture.
Coordinate with RERA/Dubai Land Department on Escrow Account operation as well as Oqood registration.
Maintaining Accounts Receivables for all sold units and supervise the collection.
Project Management reports as required by CEO.
Maintain internal control procedures of all project payments.
Liaise with External Auditors on year-end audit and be familiar with all IFRS' relating to real estate development.
Manage the company's financial, accounting and budgeting functions.
Provide expert financial and commercial advice on business decisions to the CEO and executive team.
Coordinate the preparation of financial and business plans, budgets and forecasts, providing analysis of data and advice to the management team.
Serve as a partner to other members of the management team in developing and implementing solutions to their business challenges.
Oversee regular analysis and forecasting, quarterly closings and periodic financial reviews.
Maintain and build treasury/banking relationships

Main Responsibilities:
Train the Finance Unit and other staff on raising awareness and knowledge of financial management matters.
Work with the CEO on the strategic vision including existing and future Real Estate Development.
Assess the benefits of all prospective contracts and advise the Executive Team.
Develop and maintain systems of internal controls to safeguard financial assets of the organization. Oversee the coordination and activities of independent auditors.
Ensure adequate cash flow to meet all projects that the organization needs.
Direct and coordinate budgeting and variance reporting process including
Oversee preparation of project budgets and annual company budgets,
Continuously monitor actual performance against the budgets
Report variances on periodical basis
Responsible for cash management and liaison with banks on day to day operations.
Oversee daily operations of the finance department including design, establish and maintain department structure to accomplish the department's goals and objectives.
Monitor and evaluate efficiency and effectiveness of department, identify opportunities for improvement, supervise implementation of changes.
Maintain Tender Bonds, Performance Bonds and Retention Bonds relating to all projects.
Develop annual Budgets / Business Plan for Finance and Admin department
Develop, implement and communicate operational/administration strategies in line with Company Business Plans
Ensure all staffing levels are met as per requirements of the company
Coordinate with other Departments Heads to ensure that the financial management, planning, systems and controls for each Department is being implemented following signed off on the board approved budget
Oversee monthly quarterly assessments and forecast of projects financial performance against budget, financial and operation goals.
Plan for and oversee the annual audit
Manage all insurance policies.

Technical / Administrative Skills
Hands on experience and excellent knowledge of:
Development of project budgets and projections.
Accounting software and MIS
MS office and other software.
General Skills:
Supervise and train staff, including organising, prioritising, and scheduling work assignments.
Analyse and interpret business requirements and to develop appropriate systems and solutions.
Develop and deliver presentations.
Speak Mandarin (preferred)

Knowledge of:
Familiar with contractor progress payment certificates as well as guarantees
and bonds.
Familiar with Inter-company transactions of group company and the associate
accounting treatments.
Real estate development sector practices, construction business dynamics,
systems, and services.
Contractual awareness mainly construction and consultancy (FIDIC)
Governments and Banking authorities such as; RERA, DLD, Escrow and any
law awareness
Behavioural Skills:
Leadership and people management skills such as building effective teams,
leading and motivating them to achieve high performance.
Good verbal and written communications skills
Good planning and organising skills.
Attention to detail and quality.
Good customer service focus.
Good results orientation.
Good negotiation skills
Experience of managing significant supplier relationships, employees, etc.
Knowledge of finance, accounting, budgeting, and cost control principles
including IFRS.
Knowledge of automated financial and accounting reporting systems.
Knowledge of federal and state financial regulations.
Ability to analyse financial data and prepare financial reports, statements and
Working knowledge of short and long term budgeting and forecasting, rolling
budgets, and project profitability analysis.
Work requires professional written and verbal communication and
interpersonal skills.
Ability to motivate teams to produce quality materials within tight timeframes
and simultaneously manage several projects.
Minimum 10+ years experience out of which 2+ years in a similar capacity in
a local Real Estate Development company.
Education Credentials:
A graduate, Degree in Accounting, Finance or Business; CPA and MBA
Management/Professional Experience