The Finance Manager will oversee the financial operations of a real estate portfolio, ensuring compliance with IFRS, managing budgeting and forecasting processes, controlling project costs, and supporting strategic decision-making. The role requires strong expertise in real estate accounting, project-based financial management, and stakeholder coordination.
Key Responsibilities
1. Financial Reporting & Compliance
- Prepare monthly, quarterly, and annual financial statements in accordance with IFRS.
- Ensure compliance with ZATCA regulations and other local statutory requirements.
- Manage the external audit process and coordinate with auditors.
- Ensure accurate revenue recognition (including off-plan sales, leasing, and property management income).
2. Budgeting, Forecasting & Cost Control
- Lead the annual budgeting and periodic forecasting processes.
- Monitor project-wise budgets (CAPEX & OPEX) and analyze variances.
- Implement cost control mechanisms across development projects.
- Support feasibility studies and financial modeling for new projects.
3. Project Accounting & Real Estate Financial Management
- Oversee accounting for real estate development projects.
- Monitor construction cost capitalization and work-in-progress (WIP).
- Manage escrow accounts and project cash flow planning.
- Ensure proper accounting treatment for land acquisition, development costs, and leasing contracts.
4. Cash Flow & Treasury Management
- Prepare rolling cash flow forecasts.
- Manage banking relationships and financing facilities.
- Monitor working capital and liquidity position.
- Review payment approvals and financial controls.
5. Internal Controls & Governance
- Develop and strengthen financial controls and standard operating procedures (SOPs).
- Ensure proper segregation of duties and risk mitigation practices.
- Support ERP implementation and system improvements (if applicable).
6. Team Leadership
- Supervise and mentor accounting staff.
- Assign responsibilities and monitor performance.
- Promote continuous improvement and professional development.
Qualifications & Experience
- Bachelor's degree in Accounting or Finance (Master's degree preferred).
- Professional certification such as ACCA, CMA, CPA, or SOCPA is preferred.
- 812 years of finance experience, including at least 35 years within real estate or property development.
- Strong knowledge of IFRS (particularly revenue recognition and lease accounting).
- Experience in project accounting and cost control.
- Proficiency in ERP systems and advanced MS Excel.
- Experience dealing with banks and external auditors.
Key Competencies
- Strong analytical and financial modeling skills.
- Strategic thinking with operational execution capability.
- High integrity and attention to detail.
- Strong communication and stakeholder management skills.
- Ability to work under pressure and meet deadlines.
