Head of Finance

1 week ago

Dubai, Dubai, United Arab Emirates The British University in Dubai (BUiD) Full time

Job Summary:

The Head of Finance is responsible for leading and managing the accounting and financial operations of the university.

This includes developing and implementing financial policies and strategies, managing the budget and forecasting process, providing financial analysis and advice to the university's executive management team.

The Head of Finance will also be responsible for management of ensuring compliance with financial regulations and laws.

Responsibilities with Duties:

Organizational

  • Develop and implement financial strategies to improve the financial performance in line with the university's strategic goals.
  • Develop, maintain and support compliance with financial policies, processes and controls.
  • Develop, present, and oversee financial budgets and financial forecasts.
  • Provide financial analysis and advice to the university's executive management team for making business decisions.
  • Ensure compliance with financial regulations and laws.
  • Oversee the management of financial systems and processes.

Managerial

  • Manage the daytoday operations of the finance department, providing expertise, encouraging and ensuring teamwork, aligning work processes.
  • Setting up goals for the department and prioritize tasks.
  • Provide direction and manage subordinates in performing their delegated tasks.
  • Manage team conduct and performance and mentor subordinates.
  • Manage cashflow for present and future financial needs.
  • Manage the financial audit process.
  • Working closely with other department heads to ensure and develop operational effectiveness.
  • Manage relationship between university and auditors, bankers, financial services providers and other stakeholders.
  • Represent the university in financial negotiations and discussions with external stakeholders.

Functional

  • Prepare annual financial reports, programme performance and faculty performance reports and financial analyses for the management.
  • Prepare monthly budget performance reports and recommend actions to control costs and reduce risks
  • Monitor departmental budgets, general budget and research budgets and provide reports to management and other stakeholders.
  • Provide financial data, reports and forecasts required by the Ministry of Education, KHDA, Knowledge Fund and other relevant authorities.
  • Support other departments on costing, budgeting and financial reporting of special events and projects
  • Monitor and analyze the financial performance of the university, recommend and implement control measures.
  • Assist the executive management in the appointment of external auditors and assist the auditors with the audits of financial records.
  • Ensure VAT compliance and filing of quarterly VAT returns.
  • Monitor the maintenance of general ledger accounts and ensure accuracy.
  • Supervise accounts receivables and payables and general ledger reconciliations.
  • Perform monthend and annual closing of accounts.
  • Prepare monthly reconciliation of the university's bank accounts.
  • Support finance team in day to day operations related to billing, collections, purchasing, payments, banking, student queries and vendors support, etc.
  • Creating and submitting invoices on supplier portals of government and corporate clients.
  • Verifying payments with invoices submitted for approval on online banking.
  • Monitoring and verifying fee collections on a daily basis.
  • Verify and approve GL postings and record GL adjustments.
  • Audit scholarships data, student and vendor account balances.
  • Manage the administrator accounts for online banking, online payment gateways and ERP.
  • Maintain chart of accounts, update asset acquisitions, research project contracts, inventory usage in the ERP.
  • Support the HR department in processing staff payroll, benefits and reimbursement claims, end of service settlements, etc.

Qualification and Expereince

Essential

Desired

Basic educational/ vocational qualifications

  • Bachelor's degree in finance or a related field
  • Master's degree in finance or professional certification in finance is preferred
    Relevant experience
  • A minimum of 5 years of experience in management position
  • Preferably in a higher education institution in the UAE
    Knowledge, skills & capabilities
  • Advanced knowledge of accounting standards and IFRS
  • Strong understanding of financial regulations and laws in the UAE
  • Strong leadership skills and experience managing a team of finance professionals
  • Excellent analytical, strategic planning, and problemsolving skills
  • Excellent communication and presentation skills
  • Advanced Excel skills and proficiency in using ERP software

Note:

A job description sets out the key responsibilities of a role, and the main tasks associated with each responsibility.

Key responsibilities and main tasks may be revised over time, proposed to the Registrar, and agreed in writing.
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Company:The British University in Dubai (BUiD)

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Employment Type:Full

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