Finance Manager

the Job Description – Finance Manager (Contracting / Construction Industry)

Position Summary

The Finance Manager oversees the full financial operations of the contracting company, including project-wise cost control, cash-flow planning, project P&L reporting, supplier and subcontractor payments, and compliance with industry regulations. This role works closely with project teams to ensure accurate financial tracking and supports management in strategic decision-making for ongoing and future projects.

Key Responsibilities

1. Financial Planning & Analysis

• Prepare monthly, quarterly, and annual financial statements.
• Provide variance analysis and highlight financial risks.
• Review cost trends and forecast future financial performance.
• Provide financial insights to management for planning and budgeting.

2. Project P&L Management (Added Section)

• Prepare project-wise Profit & Loss statements and update them monthly.
• Track revenue recognition as per project progress, certifications, and variations.
• Monitor project income, direct costs, overhead allocations, and gross margins.
• Identify cost overruns and recommend corrective actions to Project Managers.
• Review subcontractor liabilities, retention amounts, and pending certifications.
• Ensure accurate booking of project expenses including materials, manpower, equipment, and site overheads.
• Provide management with detailed project profitability reports for decision-making.
• Maintain a dashboard summarizing profit, loss, cash flow, and performance of all projects.

3. Construction & Contracting–Specific Responsibilities

• Monitor project budgets, WIP (Work in Progress), and cost-to-complete.
• Review subcontractor invoices, progress bills, and site expenditures.
• Validate site material consumption and verify delivery vs. usage.
• Coordinate with QS, PM, and Procurement teams for cost updates.

4. Accounting & Reporting

• Oversee AP, AR, payroll, and general ledger functions.
• Finalize the month-end closing including accruals, provisions, and reconciliations.
• Maintain contract-wise documentation for LPOs, agreements, and variations.
• Handle retention receivables, advance payments, and client collections.

5. Cash Flow & Treasury Management

• Prepare weekly and monthly project-based cash flow forecasts.
• Plan supplier and subcontractor payments in coordination with site needs.
• Monitor bank positions, cheque schedules, guarantees, and LC requirements.
• Liaise with banks for project-related financial instruments.

6. Cost Control & Compliance

• Implement cost-control procedures across projects.
• Ensure compliance with VAT, corporate tax, and industry regulations.
• Assist in internal and external audits with project data.

7. Budgeting

• Lead annual and project-specific budgeting processes.
• Review budget assumptions with project teams.
• Monitor actual vs. budget and identify variances regularly.

8. Team Leadership

• Supervise Site Accountants, Accounts Officers, and Cost Controllers.
• Conduct training on project cost management.
• Ensure timely completion of financial tasks.

9. Stakeholder Coordination

• Liaise with suppliers, subcontractors, clients, and consultants.
• Follow up for payment certifications, retention releases, and collections.
• Provide financial inputs for new tenders and contract negotiations.

Qualifications & Skills

• Bachelor’s degree in Finance/Accounting (MBA/CPA/CMA preferred).
• Minimum 5–10 years of experience in a construction or contracting company (essential).
• Strong expertise in project accounting, cost control, and project P&L.
• Knowledge of IFRS, VAT, and corporate tax (UAE).
• Proficiency in ERP systems such as SAP, Oracle, Tally, Focus, or BuildSmart.
• Excellent communication, leadership, and analytical skills.

Key Competencies

• Project financial management
• Project P&L analysis
• Decision-making
• Accuracy & attention to detail
• Multi-project handling
• Confidentiality & integrity

Job Type: Full-time

Pay: AED10,000.00 - AED15,000.00 per month

Experience:

• Finance: 10 years (Preferred)