Assistant Finance Manager

Job Title: Assistant Finance Manager

The role:

The purpose of this role is to cater to the routine financial matters of a Jointly Owned Property (JOP) / Owners’ Association (OA) / Body Corporate (BC) in compliance with the prevailing laws that govern the JOP (RERA, DIFC, ADREC, ADGM) and as per international financial practices of reporting and recording financials.

Location: United Arab Emirates

Reporting to: Director - Operations

Experience:

A minimum of five (3) years’ experience in senior supervisory / managerial role, managing annual financial calendar of financial activities of an Owners’ Association or a Jointly Owned Property in the RERA or DIFC jurisdiction, in Dubai, United Arab Emirates.

Hands-on experience in dealing with OA Boards/ Owners’ Committees / BC Management Committees and compiling annual financial statements to IFRS standards, for the purpose of the Annual Financial Audits.

Note: For the context of this document, all references to JOP mean JOP / OA / BC, as may be applicable.

Main responsibilities:

1. Financial Management:

- Timely planning, invoicing, collection, accurate accounting, reconciliation and reporting of Service Charges and other financial aspects.

- Manage and monitor financial transactions for JOP.

- Ensure compliance with JOP requirements.

- Prepare financial statements and reports (to IFRS standards) and assist with external audits.

2. Compliance and Regulations:

- Stay updated on relevant regulations, including RERA, DIFC (Dubai International Financial Centre) requirements, and such requirements in other emirates.

- Ensure that all financial practices comply with the Jointly Owned Property Law, local regulations and other international standards.

- Provide comprehensive documentation and financial models for budget and audit reviews.

3. Governance, Control & Operational Oversight:

- Define and implement finance relate policies and controls to ensure accuracy and compliance.

- Assist in the overall management of the community’s financial operations.

- Support the JOP Manager in strategic planning and financial forecasting.

- Ensure that the JOP has sound financial standing with regards to cash flows, reserve funding and delinquency management.

4. Stakeholder Management:

- Liaise with JOP Board Members, owners, and service providers to manage relationships and ensure smooth operations.

- Prepare and attend any meetings with the JOP Boards, answering their queries to their best satisfaction and clarity.

5. Team Collaboration:

- Work closely with other finance team members and departments to ensure timely and accurate financial reporting.

Key Skills and Qualifications:

- Bachelor’s degree in finance & accounting from a reputed university.

- A strong background in finance, accounting, or a related field.

- Knowledge of all applicable UAE regulations.

- Experience in Property Management or Owners' Associations.

- Proficiency in financial software and tools.

Relevant Regulations:

- RERA: The Real Estate Regulatory Agency governs real estate transactions and property management in Dubai, ensuring transparency and fairness in the market.

- DIFC: The Dubai International Financial Centre provides a legal and regulatory framework for financial services firms, and it is important for finance professionals to be aware of compliance requirements related to financial transactions.

- ADREC: The Abu Dhabi Real Estate Centre (ADREC) was formed to govern real estate transactions and property management in Abu Dhabi. This function was earlier undertaken by Abu Dhabi Municipality (ADM).

- ADGM: Abu Dhabi Global Markets has jurisdiction as a regulator of Real Estate services and JOP’s on Al Reem and Al Maryah islands.

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Job Type: Full-time

Pay: Rs1.00 per month

Work Location: In person