Assistant Manager - Commercial Finance

About Dubai Holding Land Estates:

Dubai Holding Land Estates oversees a diverse land portfolio strategically located across Dubai’s most sought-after areas. With convenient access to major highways, nearby amenities, and flexible land use options, investors are presented with unique opportunities for development and growth.

Through the centralization of Dubai Holding’s land bank, Dubai Holding Land Estates focuses on large-scale master plans, ensuring alignment with the Dubai 2040 Urban Master Plan, whilst also supporting the business’s commitment to sustainable urban development and strategic land portfolio management.

We are currently seeking a highly motivated Assistant Manager - Commercial Finance to join our team in Dubai.

Job Purpose:

The Job holder will provide support and contribute to the activities related to commercial finance relating to DHLE land bank and ensuring accurate financial information, effective budgeting processes, informed decision-making withinthe organization and identification & mitigation of issues for efficient business support.

Key Responsibilities:

• Provide supportin developing budgetplans and schedules in line with Group policiesand procedures and execute the budgetary plans in coordination with concerned departments to ensure smooth preparation of budgets. Act as a liaison betweenentity/department heads and finance team for collating the information requiredto develop annual budgets. Support in monitoring its implementation and for any subsequent budget recalibrations or forecasts required by the management.
• Assist in review of commercial transactions prior to submission to the management or investment committee, including but not limited to project launches, contractor appointments, budget approvals, etc.
• Contribute to developing Budgetary, IS and Projectreporting policies, process,procedures, forms and templates that ensure adequate budgetary controls and reporting structure for overall company operations thereby ensuring the cost advantage in all its resource utilization and financial activities.
• Modify and maintain financial models for budgetary and business analysis to ensure accuracy of budgetary assumptions.
• Assist in reviewing all land commercial transactions with respect to costing, master plan level infrastructure impacts, pricing and financial impacts.
• Manage all financial transactions and land bank accounting including POC workings and revenue recognition.
• Prepare and manage land bank reconciliation, track changes in land bank and related GFAs and ensure land bank financial records are updated accordingly.
• Timely reconciliation and ensuring accuracy in land bank accounting and align it with accounting standards and internal controls.
• Prepare the relevant schedules (IP/ PHDS) and ensure these are prepared in a timely and accurate manner and submit them to the relevant teams as per agreed timelines.
• Liaise with auditors, external consultants, and other advisors when required.Work with DHRE finance and GS finance and ensure services are being delivered as per agreed SLAs.
• Monitor the appropriate recording of cost at project level, identify and suggest if any impairment is triggered.
• Keeping track of development contracts, including active tracking of spending, linking it to property level costing and revenue recognition.
• Review EMC papers relating to Value Added Services “VAS”, land sales, project feasibilities and Quarterly Project.
• Review Reports and ensure those are fully complied with EMC quality standards.
• Review and finalise project accruals and legacy provisions.
• Review of quarterly clearance pack and GRP with statutory reporting team.
• Provide inputs to develop and enhance budgeting, planning, controlling and reporting tools to minimize the variance and to bring more accuracy in budgeting and reporting processes.
• Preparation of periodic and ad hoc Management Information Reports to provide Management with timely and relevant information for making informed decisions to ensure the effectiveness of cost control within the company.

Key Requirements:

• Minimum of 4 to 6 years’ experience in Finance with preferred experience in real estate industry.
• Graduate in Accounting/Finance; CA/ACCA (Chartered Accountant/ Association of Chartered Certified Accountants) - preferred
• Knowledge of Management Information Systems, Oracle System and MS Office Tools
• Good understanding of real estate business, accounting matters, relevant regulatory matters and international financial reporting standards (IFRS)
• Comfortable working in dynamic, fast-paced and performance driven environment.

Job Specific Skills:

• Advanced proficiency in Microsoft Excel and Microsoft Power Point, including complex data analysis and modeling.
• Advanced financial modeling and forecasting skills.
• Proficiency in financial software, data analysis tools, and enterprise resource planning (ERP) systems
• Ability to manage complex general ledger accounts.
• Effective co-ordination with other stakeholders mainly related parties and shared service center

About the Benefits:

At Dubai Holding, we're committed to nurturing the success and well-being of our colleagues. Join our dynamic and diverse team, and enjoy a comprehensive benefits package that includes competitive compensation, career development opportunities, and a collaborative work environment. We strongly believe in creating an empowered workforce that will help us build a connected city for tomorrow. We are committed to attracting the brightest minds and nurturing the most pioneering candidates who desire to make a great impact on the future of Dubai.