Finance Manager

Overview

Position Summary

2. Reporting & Working Relationships

• **Reports to:** Financial Controller / Chief Financial Officer
• **Supervises:** Accounts Payable, Accounts Receivable, General Ledger, Payroll, and Revenue Accountants
• **Liaises with:** FAB Bank, External Auditors (UHY James Chartered Accountants), Tax Authorities, Internal Audit, and Operational Heads
• 3.
• Key Roles & Responsibilities3.1 Financial Reporting & General Ledger
• Oversee timely month-end, quarter-end, and year-end closing processes for both Baniyas Cooperative Society and Al Resala Investment and Properties Development LLC.
• Prepare consolidated and standalone financial statements in accordance with IFRS, ensuring proper elimination of intercompany transactions.
• Review journal entries, accruals, prepayments, depreciation, and provisions posted by the General Ledger Accountant.
• Ensure accurate and complete reconciliation of all general ledger accounts on a monthly basis.

3.2 Cash Flow & Treasury Management

• Manage and monitor daily, weekly, and monthly cash flow positions across all bank accounts and entities.
• Prepare rolling cash flow forecasts (13-week and annual) covering supermarket operations and ongoing property development projects.
• Optimise working capital, ensure liquidity for operations, and manage funding requirements for project drawdowns under the AED 200 Million long-term FAB facility.
• Monitor debt service obligations, loan covenants, and prepare loan utilisation and project progress reports for FAB Bank submissions.
• Maintain strong relationships with the bank and lead all banking correspondence on operational matters.

3.3 Supervision & Review of Accounting Team

• **Accounts Payable:** Review supplier invoices, payment runs, vendor reconciliations, and ageing analysis; ensure adherence to approval matrices and credit terms.
• **Accounts Receivable:** Review tenant rental invoicing, debtor ageing, collections, and follow-up actions for outstanding balances across community markets.
• **Revenue Accounting:** Validate daily supermarket sales reconciliations (POS to bank), rental revenue recognition, and accuracy of revenue postings.
• **Payroll:** Review monthly payroll computations, WPS submissions, end-of-service provisions, and statutory deductions.
• **General Ledger:** Ensure chart of accounts integrity, proper cost-centre allocations, and accuracy of all journal postings.

3.4 Retail & Inventory Controls

• Oversee inventory accounting across the 5 supermarkets, including stock valuation, shrinkage analysis, margin reviews, and periodic physical count reconciliations.
• Monitor gross margins, supplier rebates, promotional accounting, and cost of goods sold across all retail outlets.
• Implement and strengthen internal controls over cash handling, POS transactions, and store-level financial operations.

3.5 Property & Project Accounting (Al Resala)

• Oversee accounting for community market projects including the operational Sarab and Yas Island markets, the near-completion Samha Community Market, and the upcoming Al Bateen Community Market.
• Track Capital Work-in-Progress (CWIP), capitalisation of project costs, finance costs, and timely transfer to fixed assets upon completion.
• Review rental income, occupancy reports, lease accounting, and tenant ledgers.

3.6 Budgeting, Forecasting & MIS

• Lead the annual budgeting process for both entities and prepare periodic forecasts.
• Conduct budget vs. actual variance analysis and prepare insightful management information system (MIS) reports.
• Provide financial analysis and decision-support to senior management for new projects, store performance, and strategic initiatives.

3.7 Audit, Compliance & Internal Controls

• Coordinate with external auditors (UHY James) for interim and annual statutory audits; prepare audit schedules and address audit queries.
• Ensure compliance with UAE VAT, Corporate Tax, Economic Substance Regulations, and other applicable statutory requirements.
• Maintain and continuously strengthen internal controls, accounting policies, and the standard operating procedures of the Finance Department.

3.8 ERP & Systems

• Act as a finance super-user of the ERP (Microsoft Dynamics 365 Business Central), driving optimal use, process automation, and continuous improvement.
• Support system enhancements, integrations with POS and property management systems, and finance-led digital initiatives.
• 4.

Required Qualifications

• **Bachelor’s degree in Accounting, Finance, or Commerce.** A Master’s degree is an advantage.
• **Professional accounting qualification is mandatory:** CA / CPA / ACCA / CMA / CIMA (or equivalent).
• **Hands-on experience with Microsoft Dynamics 365 Business Central** is mandatory. Exposure to other major ERPs (Oracle, SAP) is a plus.

5. Required Experience

• Minimum 8–12 years of progressive finance and accounting experience, with at least 3–5 years in a Finance Manager or equivalent supervisory role.
• **Proven experience in the retail industry (supermarket, hypermarket, or FMCG retail) is mandatory** — covering inventory accounting, POS reconciliations, margin analysis, and multi-outlet operations.
• Demonstrable expertise in cash flow management, treasury operations, and dealing with banks (long-term project financing experience preferred).
• Experience in reviewing the work of Accounts Payable, Accounts Receivable, General Ledger, Payroll, and Revenue accountants in a medium-to-large finance team.
• Experience in real estate / property leasing accounting is a strong advantage.
• **Candidates currently available in the UAE will be given preference.**
• 6.

& Competencies

• Strong working knowledge of IFRS and UAE statutory requirements (VAT, Corporate Tax, WPS).
• Advanced Microsoft Excel skills; proficiency in Power BI or other reporting tools is an advantage.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong leadership, team management, and people development capabilities.
• Excellent written and verbal communication skills in English; Arabic is a strong advantage.
• High level of integrity, attention to detail, and ability to work under tight deadlines.

Application Question(s)

• Do you have CA / CPA / ACCA / CMA / CIMA (or equivalent) Qualification?

Experience

• Finance Manager: 3 years (Required)