We are looking for a Chief Financial Officer for our Client in Dubai, an e-commerce company.
The key deliverable for the CFO is to add value via creating maximum insight into the financial performance of the company. Support the company to create, develop and deliver the Strategic and Budget Plan targets in terms of Growth, Earnings, ROTA,Cash and WIC. This role leads the establishment of solid and sound control mindset and culture across the business and leads. The CFO has primary responsibility for ensuring that appropriate internal controls procedures are in place, enforced, reviewed and corrective actions are taken periodically for conformance to accounting and financial standards and applicable regulations.
The CFO is ultimately responsible for the accuracy, completeness, and timeliness of the organization’s financial reporting. The CFO is responsible from the current company and any future acquisitions into the Group.
Principal Accountabilities
- Add value to the business via creating maximum insight into the financial performance.
- Provide sound financial analysis that accompanies the investment programs.
- Support the business to create, develop and deliver the Strategic and Budget Plan targets in terms of
- Growth, Earnings, ROTA, Cash and WIC. Provide a financial perspective to business decisions.
- Enable the effective delivery of business results.
- Prepare financial plans, annual and monthly budgets.
- Support the departments to prepare an investment plan in line with the company strategic objective.
- Be responsible to prepare funding options for business plans.
- Support marketing, retail, product and e-commerce functions with brand/SKU, customer profitability, effective budget management, and ROI.
- Assess feasibility of new locations and new service units.
- Support logistics and operations departments for cost management and WIC.
- Create and drive “Financial” standards and metrics across the company.
- Develop and deliver mechanisms that develop superior finance functional competency
- Assess current finance capabilities and be fully responsible for managing the finance function.
- Specific accountability:
- Accounts Payable
- Fixed assets
- Payroll
- Data administration
- General Accounting and Reporting
- Tax, Treasury and Risk Management
- Audit Framework, Internal Controls
- Cost Reduction Programs
- Currency hedging and FX management
- Strategic planning
- Ensuring a world class governance and internal control environment across the company.
- Ensures that processes needed for the financial management system are established, implemented, and maintained, and reports to the CEO and Board of Directors on the performance of the financial management system and reports any need for its improvement.
Accounting Activities
- Ensures proper maintenance of books of accounts and reports in accordance to the local and international accounting standards.
- Creates and reviews all period-end activities to ensure the period-end financial statements accurately reflect the results of the Company’s activities.
- Review of account balances on monthly basis.
- Maintain the books of accounts to reflect the true and fair value of the Company.
Cash, WIC, Treasury Management
- Oversees cash management processes to ensure proper cash availability and best practices in cash management.
- Oversees working capital and make sure adequate funds are maintained to ensure smooth business flow.
- Oversees the Company’s financial investment in inventories and assists in developing and reviewing the INVENTORY MANAGEMENT PLAN.
- Reviews lease/buy considerations for capital equipment.
- Assesses risks and exposure due to business conducted in foreign currency and take adequate steps to mitigate the forex loss
- Liaise with Bank for day to day activities and trade functions.
- Sets and oversees the process of providing and/or receiving Trade Documents and is responsible for all related bank communication and transactions.
Budgets and Forecasts
- Prepares forecasted financial statements, and prepares reports and recommendations to Top Management and the Board of Directors concerning forecasted financial statements.
MIS and Statutory Reporting
- Reviews and approves requests for financial statements and any other proprietary, confidential, and/or sensitive financial information, the Risk Management Plan, and all reconciliations.
- Analyzes financial statements and prepares reports and recommendations to Top Management and the Board of Directors concerning financial performance.
- Ensures that corrective actions are taken in a timely manner and that the company is in compliance with the country law, and approves and signs all financial statements, financial reports, and tax returns.
- Arranges and chairs financial management meetings and prepares financial reports and presentations for scheduled financial management meetings.
- Is the main point of contact between the Company and the External Auditor and coordinates Company audit activities and responses.
- Prepares and submits all financial statements as required by Law and by Management
Decision Making Authority and Impact
- Signs off on CAPEX and all financial decisions to the approval of the CEO & the Board.
- Decision making around Compliance.
- Improvements on WIC.
- mprovements on business processes.
- Improvements on business control frameworks.
People Management Responsibility
- Manages the finance team directly
- Interact with all other relevant stakeholders (such as other department heads and the board).
Main Qualifications
- Financial Planning and Modelling
- Business Analysis
- Systems and Process
- Analysis and Evaluation of Business Activities Portfolio (including tradeoff management)
- Planning and Modeling
- Cost Accounting and Budget Management
- Business Processes and Information Technologies Effectiveness
- Strategic Business / Financial Management
- Statutory accounting and financial controls
- Data mgmt and reporting
- Undergraduate Degree from a reputable university (Master’s degree, Accounting certifications are a plus)
- Excellent English language proficiency
- 10+ years of Professional experience with 5+ years of experience at finance
- Retail experience is a plus
- MS Dynamics knowledge
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