Head Of Financial Control

1 month ago

Dubai, United Arab Emirates Corporate Functions Full time


Job Title Head of Financial Control

Description

Job Purpose Be a strategic advisor, catalyst, and leader for business growth whilst ensuring compliance & governance and safeguarding the financial interests of the group. To direct and manage Group entity finance & tax team for including collaboration with the business and translation of strategies into plans and budgets for Head Office. Ensuring business adherence to SLA's, Financial Accounting Policies & group processes. Provide leadership on future business performance management through: . Strategic financial Planning & Analysis Budgeting & Forecast . Delivery of Finance Business Partnering by coordinating budgeting, forecasting, reporting (daily, weekly, monthly), coordination of the closings with FSS and BUs, creation of the KPIs and follow-up with the BUs. . Risk Assessment and Management . Contract Reviews and Supporting the CFO on the monthly data analysis across the companies and preparation of presentation for CXOs and shareholders. . Responsible of the financial control and planning of the group and ensuring consolidation. . Financial Data Analysis: Review and analyze financial data and create alerts. Suggest recommendations / corrections to CFO whenever relevant. Essential Roles and Responsibilities Business Strategy Co-piloting Directors/ MD on all Business & Performance Management aspects including decision support, financian management, governance, and ad-hoc analysis Maintain an effective involvement and understanding of the business in order to contribute to key business decisions within the entity through financial advice and expertise. Work closely with the MD/ CEO and BU management committee members for effective decision making for maximizing returns on investment, minimizing tax incidence through proper due diligence, mitigating internal/ external risk and maximizing overall profitability Lead financial planning cycles (Budget, forecast, monthly reporting) processes including: GCC market/regional guidance coordination, performance targets and incentives, ROI analysis, presentation development & delivery to Directors, and short and long-term financial strategy. Ensuring Governance, Internal Controls & Process Improvements: Ensure adequate internal controls are exercised over capital and revenue expenditure and all purchases and payments, in accordance with company procedures and within specified authority limits. Challenge existing modus operandi, questioning processes and structures which are currently embedded in the Company culture thereby bringing efficiencies & leaner processes. Continuous monitoring of the control environment affecting the customers across the group entities thereby ensuring internal governance & control procedures are not compromised. Identify and manage risks including the continuous alignment to financial and risk management systems Drive efficiencies within the finance business processes touching various functions within the business based on challenges/ non-conformance reported by the entity finance teams. Ensure integrity, governance & compliance of financial controls including Balance sheet reconciliations/ Journal Entries/ Analytical reasoning Re-defining the business processes and laying out new controls in situations where there has been breach of policies/ fraudulent attempt in any business. Laying out rules/ checklists to monitor that the business follows the new processes/ controls and escalating further exceptions to Directors. Support Group Audits in a timely manner and ensure that all agreed audit recommendations relating to finance and risk management, systems and processes are actioned appropriately. Business Partnering: Work in close conjunction with the Business Managers in formulating annual budgets including Go to Market strategies for GCC expansion Drive the development and delivery of strategic and operational business plans, and the development and implementation of financial budgets and plans that enable the commercial teams to meet financial targets. Provide support to the Commercial team in managing commercial finances contribution in identifying and defining opportunities for growth. Drive the delivery of future focused decision making through the delivery of financial analytics Provide competitive benchmarks for existing financial and operational performance against market and industry trends, identifying business risks and opportunities for the businesses Support in commercial projects, financial business cases and feasibility studies as required. Provide financial support in negotiations on existing contracts and new prospects as required Ensure process workflows are documented and understood by the business finance teams including various touchpoints with other departments and tracking of SLA/ Reverse SLA's. Manage and maintain mechanisms at external contract level to track and report on key areas of financial and operational risk and opportunity impacting profit maximization Financial Planning & Reporting: Manage the delivery of monthly management reports for the Head Office including preparation of financial reviews and forecasts for monthly business reviews in accordance with Group requirements Develop KPI's for understanding business performance trends to develop & implement strategies to improve them Lead the implementation of group processes & financial accounting policies including implementation of new accounting standards across all businesses. Manage and monitor financial positions through the production of monthly management reports and insights. Drive the delivery of future focused decision making through the delivery of financial analytics Ensure lean and effective operations of the activities. Drives an agenda of continuous improvement and simplification for the Finance function, works in partnership with FSS, aligned with the Group finance transformation agenda Manage consolidated performance reporting and analytics for the Head Office Leadership team with CFO Ensure the financial integrity of accounting transactions and security of company assets by implementing financial controls. Enhance the accuracy of the company's reported financial results, and ensure that reported results comply with generally accepted accounting principles or international financial reporting standards. Proactively making recommendations to build scalable accounting systems, improve accounting processes & procedures creating long term efficiencies Lead & Implement new reporting systems as and when required to enhance the effectiveness of reporting and operational support. Lead and implement recommendation from Internal and External (Statutory & Tax) Auditors pertaining to Financial Planning & Reporting and Tax compliance Manage all entities statutory financial statements for various countries are prepared in accordance with the local GAAP or International Financial Reporting Standards (IFRS) including the compliance with any new IFRS applicable. Proactively manage gross profit margin, revenue, labour, COGS optimization and margin enhancing opportunities with support BU finance team. Analyzing Cash flow, cost controls & expenses to support business finance teams & GM's Tax Compliance: Lead & managing the tax business compliance for all ATG companies including VAT, Retention tax, Withholding Tax, Zakat, Corporate tax Ensuring accuracy and conformance with the local tax laws and adherence in the day-to-day business transactions. Overseeing tax audits liaison and responding to queries received from tax authorities from UAE, KSA, Qatar, Kuwait and other GCC countries (business presence). Protecting shareholders interest by Ensuring minimal tax exposure in business scenarios which may trigger Permanent Establishment (PE) / Transfer Pricing exposure across the globe due to our supply chain/ customer transactions. Contacting 3rd party tax consultants and leading tax implementation projects for businesses including tax set up in new countries like KSA. Ensuring timely submission of Economic Substance Reporting (ESR) and Notification based on entity specific applicable timelines. Ensuring timely submission of CBCR Reporting as and when applicable to any of the group entities Manage compliance to Groups Tax standards and processes laid out by the Corporate Tax team Supporting CFO: Provide CFO with analysis of individual business results vs budgets and forecasts focusing on key metrics, sensitivity and impact analysis, Projections and covenant compliance - highlighting key risks Provide clarifications to the Chief Financial Officer and Executive Management on the proposed budgets and performance at a group wide level. Job Requirements Minimum Academic Qualification: MS/MBA/BA in Corporate finance / Financial Control Required Technical & Software Skills / Required Licenses & Certifications Strong analytical & organization skills, ability to treat with a quantity amount of data, build automated tool Master in Excel & Power point Ability to interact and conduct strategic discussions with multi-divisional leaders. Strong technical, analytical and statistical competencies required Proven success in presenting complex data to non-technical, senior leaders in an organization. Preferred Languages English (Full Proficiency - written and verbal) Field Experience Finance / Mathematics Minimum 8-10 years of experience in Controlling in a lead role for a diversified conglomerate Experience in MIS and group reporting, Data Analytics. Background of Retail / Industries Knowledge and Skills Solid experience of leading commercial finance teams with relevant experience in Finance Business Partnering. Agility with Value Creation mindset Diverse business sectors experience Good depth and breadth in global retail organizations. Good commercial acumen. Strong analytical skills and experience interpreting a strategic vision into an operational model Ability to optimally work with cross-functional teams and experienced stakeholder management in a matrix organization. Th

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