Senior Manager Finance Operations

Job Description

The role holder is responsible for developing and designing a world class Finance Operations function that can efficiently scale up with DHAMs overall growth. The role holder ensures efficient and timely management of all receivables, billings, invoicing cycle, revenue recognition and reconciliation of customer accounts for DHAM, overseeing the GS Payables services, ensuring accurate projects accounting, ensuring the accounting & reconciliations are managed for DHAM & its subsidiaries and business units in line with the IFRS guidelines and internal policies & procedures.

• Support the VP Finance in reporting in developing and establishing the strategy for Accounts Receivables function in line with overall Financial strategy and goals for DHAM.
• Assist in developing long-term financial practices, policies, processes and procedures to ensure accurate and timely processing of receivables and billings for DHAM and its business units (Retail / Residential / Commercial / Industrial).
• Oversee and provide guidance for the ongoing day-to-day activities and longer-term strategic direction of the department including automation and process streamlining initiatives.
• Oversee that GS is delivering its services as per agreed SLAs for Payables, Project Accounting, Fixed Assets and accounting and reporting for these functions is as per IFRS and DHAM Group Policies

Core Responsibilities

• Develop billing instructions, guidelines, practices, and procedures to ensure error free accounting of invoices and bring operational efficiency. Plan and implement quality assurance for all processes.
• Approve invoices after reviewing the required supporting documents and ensure these are sent to the customers in a timely manner.
• Approve customer final settlement statements in co-ordination with leasing and relevant departments and ensure they are accurate and timely.
• Monitor team for undertaking on-time and accurate invoicing of all leases, cost recovery & service invoices and ensure contracts & agreements are supported by adequate approvals as per company DOA for DHAM and its business units (Retail / Residential / Commercial / Industrial).
• Oversee monthly / quarterly / yearly closing of A/R accounts in line with IFRS guidelines.
• Ensure the team conducts full and regular reconciliation of DHAMs accounts receivable sub ledger with general ledger accounts and maintains relevant break downs and supporting documentation.
• Manage revenue recognition to comply with IFRS standards of accounting, keeping in view of different portfolios such as Residential, Retail, Industrial, Commercial and Land leases.
• Ensure that the accounts maintained in the system are sound and accurate and reflect DHAMs financial position and performance.
• Ensure that month end processes and procedures are followed as per the defined accounting policies and procedures.
• Oversee daily activities of the team members to ensure the proper accounting steps are adopted for updating invoices and reconciliation of customer&aposs accounts.
• Ensure customer billing queries are addressed and advise in resolving and troubleshooting billing issues.
• Review and approve documents related to cost recoveries, services & final settlements.
• Prepare various financial and statistical reports for the Management to ensure operational efficiencies such as revenue budget variance analysis, revenue forecasts etc.
• Review contracts for financial computations and implications and ensure they are endorsed before sending to the relevant departments.
• Review reports and periodical schedules for leasing revenue, receivable, ageing, bounced cheques, doubtful debts, write-offs and other accounts.
• Manage receivable ageing to ensure the reduction of overdue receivables and to maintain good cash flow, liquidity and reduce uncollectable receivables.
• Ensure disclosure details are provided, for the purpose of statutory financials, to GL and reporting team in respect of receivables, revenue and cash & bank balances.
• Review Land Sale & Lead commission pay-outs in strict adherence to company policies & procedures.

• Review and oversee the services provided by Group Services team to ensure accounting for payable invoices is done timely and correctly
• Review project accounting for the ongoing projects to ensure project costs are recorded accurately and timely
• Review & oversee the services provided by GS team to ensure accounting is done timely and accurately
• Ensure month-end accruals are taken appropriately for any unaccounted invoices to ensure accurate month-end closure process
• Review the account reconciliations prepared by the GS team for Payables, Projects in progress and Fixed Assets and follow up for any unreconciling items for their conclusion
• Support VP - Finance on annual impairment review of non-financial assets

• Maintain relationships with external and internal auditors during the audit cycle to support the audit of A/R accounts, AP, Projects and FAR areas and resolve any discrepancies as required.
• Oversee the preparation of all requirements for internal and external audit.

• Develop, implement and enhance systems, procedures and policies in order to ensure continuous development of processes, data accuracy, internal controls and protection of organizations interest.
• Implement systems & processes for proper documentation of agreements and contracts to ensure easy retrieval and availability upon request.
• Keep abreast of professional developments, new techniques, and current issues through continued education and professional growth.
• Manage, coordinate, and support systems related special projects for the Accounts Receivables function as needed.
• Play pivotal role in Financial / IT systems developments in DHAM, such as ERP, Yardi, Sales Force, Application softwares integrated to ERP systems. Design, implementation and validation.

• Liaise with other departments and business partners as and when required and ensure they have a clear understanding of accounts receivable services, policies, finance policies and approval levels.
• Together with the collections department, develop customer relationships to resolve payment issues or discrepancies and address any queries.
• Follow up with the collections department for the recovery of outstanding amount.

Minimum Qualification:

• Bachelors in in accounting / finance / business administration.
• Masters degree is preferred.
• CA / CPA / CMA / ACCA or equivalent professional qualification in accounting.

Experience:

• Minimum 8-10 years post qualification accounting / auditing experience within a large real estate or retail conglomerate.
• Minimum 3 years of demonstrated A/R and billing experience in the Middle East.

• Sound knowledge of accounting principles such as financial statements / consolidation (IFRS), GAAP and company laws.
• Systems knowledge such as Oracle Financials (R12 / Cloud) / Hyperion experience.
• Attention to detail with a high degree of accuracy.
• Excellent analytical and numerical skills.
• Ability to work a flexible schedule during key business deadlines.
• Advance knowledge of MS Excel and good understanding of internal controls & business processes.
• Excellent interpersonal skills with the ability to interact with all levels of management.
• Excellent communication / presentation skills