JOB PURPOSEThe Section Head - Finance is responsible for the development of the Finance strategy in line with GDMO’s vision, direction and needs. This includes core accounting, budgeting and planning functions, as well as financial reporting and adherence to financial regulations. He/she is responsible for developing, communicating, updating and implementing the Finance policies and procedures across GDMO. The Section Head - Finance is also responsible for the development of the Finance team, in both technical and soft skills, using on-the-job training as well as in-person or online classroom training. The role holder is expected to demonstrate leadership skills, financial and budget management acumen and carry out his/her duties in accordance with the relevant business policies and procedures.No.Key Focus AreaKey Accountabilities1.General Responsibilities· Develop strategic Finance needs and initiatives in line with the GDMO strategy, e.g. new Finance initiatives/projects, systems/technologies/tools· Manage the implementation of the strategic vision for Finance, to achieve the strategic objectives set out for the department in line with the overall GDMO strategic vision· Develop and maintain excellent working relationships with Directors across GDMO, working together when needed to support and deliver their Finance needs in line with the GDMO vision and strategy· Manage the Finance team in their day-to-day and project work, providing technical skills support and direction to ensure smooth and successful delivery of results and strategic projects/initiatives in line with the GDMO strategic vision· Produce monthly KPI reports, providing supporting documents used to capture and calculate the KPI metrics· Develop talent within the Finance team through on-the-job training and other training (online and classroom), covering both technical and soft skills· Identify Finance budget requirements based on planned Finance initiatives in line with the strategic vision developed for Finance to support the GDMO strategy2.Policies and Procedures· Develop and maintain budget guidelines, policies and procedures and circulate these annually to Directors· Set and enforce approval limits, including systems, processes and procedures to ensure financial control and accountability· Manage and publish policies and procedures for general accounting and reporting· Establish policies for late payment from accounts (partnerships, sponsorships and collaborations)· Establish fixed-asset policies and procedures regarding depreciation, provisions, resale, usage, etc.· Establish policies and procedures for HR to calculate and share leave and attendance information for financial/payroll compensation· Establish policies and approval limits for corporate credit cards3.Planning and Budgeting· Receive annual budgets from the Department of Finance, and ensure the timely distribution of budgets across departments· Ensure the planning/budgeting/forecasting is completed in a timely manner in line with GDMO's and the department's objectives· Ensure periodic GDMO financial statements are developed, with estimated revenues, expenses and projections of profit and loss statements, balance sheets and cash flow, as well as variance analysis between budgets, forecasts and actual financial outcomes· Manage GDMO’s overall budget and utilization over the year· Share ad-hoc financial budget requests with the Director General for approval, and the Department of Finance for additional budgets when needed by departments across GDMO4.General Accounting· Oversee the activities related to cost accounting and control such as inventory accounting for assets, identification of reasons for changes (depreciation, obsolescence, deterioration, change in customer taste, increased demand, decreased market supply, etc.), and, where applicable, profit center accounting, cost of sales analysis product costing, variance analysis and reporting on profitability· Oversee the regular upkeep of fixed-asset master data files detailing price, life cycle, depreciation rate, resale value, installation information, usage information, etc. in line with the fixed asset policies and procedures· Oversee and manage general accounting practices and activities· Manage incidents of late payment from accounts as and when needed for intervention· Ensure the preparation of business unit financial statements including balance sheets, income statements, cash flow statements for departments and share with the Director General· Oversee and ensure the preparation of consolidated financial statements showing assets, liabilities, equity, income, expenses, and cash flows across GDMO· Review and sign off the annual and quarterly financial statements prepared by the Accounting team· Manage, review and sign off regulatory reports for final accounts following rules and regulations of the UAE government· Oversee and manage payments against corporate credit cards· Oversee and sign off any changes to credit limits, including for separation or promotion/demotion of employees, in line with the policies and approval limits for corporate credit cards· Oversee the payment of taxes, ensuring compliance with FTA on tax regulations5.Payroll Management· Ensure payroll information is collected and reporting, e.g. deductions, additional pay and other factors that affect payroll, paid and unpaid leave, regular working days, overtime, and other leave compensation categories that impact pay· Oversee the execution of payroll management, including comunications with the bank to ensure payments are made· Oversee activities related to accounts payable (AP), verifying, approving and updating invoices and records as needed6.Cost Management and Measurement· Ensure cost management is conducted, including indications of key cost drivers/expenses and critical activities that hinder the progress of finance activities· Evaluate and manage financial performance of new initiatives/projects and manage continuous cost improvement activitiesQualificationsExperience RequiredFunctional Experience· A minimum of 7 years of relevant experience with at least 4 - 5 years in a similar roleLeadership/Supervisory· A minimum of 5 years leading and managing teams· A minimum of 3 years managing a budgetEducation and Qualification Required· Master’s degree in Finance, Accounting, Economics or Business Administration (MBA)· Additional Qualifications: Certifications such as Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), or Certified Management Accountant (CMA)Key Performance Indicators· Development of Finance policies and procedures (%)· On-time completion of accounting activities (%)· On-time completion of planning and budgeting activities (%)· Budget variance (%)· On-time completion of payroll activities (%)· Cost management savings (#)· Financial compliance with audit requirements and/or regulatory entities requirements (%)
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