Finance Manager - Construction Industry Background

We are looking for an experienced Finance Manager with strong experience in the construction industry to oversee the company's financial operations, accounting, budgeting, cash flow, project costing, and financial reporting. The ideal candidate should have solid knowledge of construction accounting, project financial management, and UAE accounting practices.

Key Responsibilities

• Manage the overall finance and accounting functions of the company.
• Prepare and monitor annual budgets, forecasts, cash-flow projections, and financial plans.
• Monitor project-wise financial performance, profitability, costs, and budgets.
• Review project costing, revenue recognition, work-in-progress (WIP), retention, variations, and claims.
• Monitor accounts receivable and payable, including client collections and supplier/subcontractor payments.
• Ensure timely preparation of monthly, quarterly, and annual financial reports.
• Analyse project costs against budgets and identify variances, cost overruns, and potential financial risks.
• Manage cash flow and ensure adequate funds are available for project and operational requirements.
• Review and control subcontractor, supplier, consultant, and client accounts.
• Ensure accurate recording of construction contracts, progress billings, retention amounts, advance payments, and project expenses.
• Coordinate with Project Managers, Quantity Surveyors, Procurement, and Commercial teams regarding project financial matters.
• Establish and maintain effective internal financial controls and procedures.
• Ensure compliance with applicable UAE VAT, corporate tax, accounting standards, and statutory requirements.
• Coordinate with external auditors, banks, tax consultants, and other financial institutions.
• Monitor bank facilities, guarantees, LCs, and other financing arrangements where applicable.
• Review payroll, employee-related payments, and other company expenses.
• Lead and supervise the finance and accounting team.
• Provide management with financial analysis, business insights, and recommendations for decision-making.
• Identify opportunities for cost reduction and improve financial efficiency.
• Ensure proper maintenance of financial records and supporting documentation.

Construction-Specific Responsibilities

• Monitor financial performance project-wise and contract-wise.
• Review project budgets and compare actual expenditure against approved budgets.
• Monitor cost-to-complete (CTC), estimated cost at completion (EAC), and project profitability.
• Review interim payment applications, client certifications, retention, and collection status.
• Monitor subcontractor payment certificates and outstanding commitments.
• Track project variations, claims, back charges, and financial implications.
• Work closely with the Commercial/QS team on contract and project financial matters.
• Identify potential project cost overruns and provide early warnings to management.

Requirements

• Bachelor's degree in Finance, Accounting, Commerce, or a related field.
• 8–12 years of finance/accounting experience, preferably within the construction or contracting industry.
• Minimum 3–5 years in a Finance Manager or similar senior finance position.
• Strong knowledge of construction project accounting and financial management.
• Experience with project costing, WIP, cash flow, budgeting, forecasting, and financial reporting.
• Strong knowledge of UAE VAT and Corporate Tax requirements.
• Proficiency in ERP/accounting systems and MS Excel.
• Strong analytical, financial planning, and problem-solving skills.
• Excellent communication and team-management skills.