Department: Finance
Reporting to: CEO
Location: Erbil
Key Responsibilities & Duties
- Form a budget, make financial decisions, and allocate resources in accordance with an organization’s policies and procedures
- Maintain detailed records for financial analysis
- Provide training to new and existing team members
- Oversee periodic analytical and reporting activities
- Advise the Managing Director on financial management matters
- Manage the monthly and yearly financial statements and budgets, including monthly and quarterly forecasting and variance analysis
- Monitor the financial health of properties to ensure profitability and compliance with budget targets
- Analyze and interpret financial data to prepare reports, financial statements, and presentations
- Prepare schedules, budgets, and forecasts
- Creating and implementing new policies and procedures, as well as maintaining existing ones
- Monitoring cash flow, forecasting future cash flow needs, and adjusting accordingly
- Ensuring that all financial reporting requirements are met, including tax filings and regulatory compliance
- Developing budgets and working with managers to ensure they are met
- Overseeing the accounting department, including monitoring staff performance, and hiring new employees when needed
- Creating financial models to forecast budget impact of proposed projects or policies
- Monitoring the financial health of the organization by tracking key performance indicators such as cash flow, collections, and receivables.
Working directly, and through direct reports, responsible for the following:
- Business Planning
- Capital Accounting
- Internal and External Audit
- Financial processing for the business
- Operational Accounting
- PAYE/Payroll outputs
- Treasury management
- VAT and other taxation
- Strategic
- Assist the Management on the development of the financial strategy
- Play an active key role in the operational delivery of the strategic goals and objectives of the company
- Technical
- Present Monthly, quarterly, and annual financial results to the management
- Manage the operational finance function ensuring that sound financial advice is given to staff, senior leadership team, Investment, audit & risk committee, and the Board of Management
- Lead the Finance service to ensure the business’s financial security is maintained and enhanced
- Provide the senior leadership team with the necessary financial information and strategic advice to enable them to manage the business effectively
- Prepare and produce the financial plan, undertaking multivariate stress testing as directed by the senior leadership team
- Review financial projections when events have a significant impact on the plan, and ensure the necessary model is implemented, as directed by the Senior Leadership Team
- Prepare the association’s annual draft Budget based upon agreed departmental information for consideration by management
- Provide the financial management information required by the management within agreed timescales
- Manage key relationships with both external and internal auditors to ensure appropriate accounting standards, policies and procedures that comply with all statutory and regulatory requirements
- Prepare the statutory financial statements and ensure that the business complies with all legal and financial regulations. Review accounting policies and make recommendations to the management
- Prepare all other year-end statements and ensure that the necessary auditor’s certificates are obtained
- Treasury
- Ensure that the treasury management policy and treasury strategy are adhered to; and that the Annual Financial Strategy is produced.
- Ensure that the cash resources of the Association are managed effectively, by producing regular cash flows within agreed timescales, and ensuring surplus cash is invested to give the maximum return
- Ensure the requirements of loan conditions and covenants are always met
- Financial controls & processes
- Act as the association’s risk coordinator in managing the risk process including developing, maintaining, and monitoring the risk map for the business
- Responsible for monitoring and reporting on risk management for the association and ensuring policies and procedures are in place to minimize risk in the finance department and adhere to the risk management strategy
- Ensure adequate financial reporting systems operate to meet internal and external stakeholder requirements.
- Ensure proper financial control systems exist and ensure they are regularly reviewed and monitored
- Ensure that the financial procedures are regularly reviewed and updated as necessary
- Ensure that the payroll function operates effectively and efficiently
- Ensure that all VAT and PAYE returns are completed within the statutory deadlines
- Ensure a program of Internal Audit as agreed annually by the Investment, Audit and Risk Committee is carried out and reported thereon
- People Management
- Manage and develop the staff within the finance department and communicate the company objectives positively, to all our Stakeholders.
- Provide a customer focused finance service to support the wider business in meeting its corporate objectives
- To lead by example and motivate the team and make the department environment a great place to work
- Make sure to build a team that is loyal to the company and its goals and targets
Skills & Requirements
- Bachelor’s degree in finance, Accounting, or a related field. MBA or other advanced degree is highly desirable.
- Proven work experience minimum of 10 years in a senior finance role, Director of finance, Head of Finance, or similar position.
- Strong knowledge of financial principles, regulations, property management accounting procedures, legal requirements, and capital markets
- Experience with property management information systems
- Proficient in financial software and systems, with advanced Excel skills and Microsoft Office Suite, including Word, Outlook, and PowerPoint in financial projections and forecasting aspect.
- Sound understanding of financial analysis, forecasting, budgeting, and risk management.
- Excellent leadership and team management skills, with the ability to inspire and motivate others.
- Exceptional analytical and problem-solving abilities.
- Strong interpersonal and communication skills, both verbal and written.
- Attention to detail and accuracy, with a proactive and results-oriented mindset.
More Information
- How to apply Intrested Applicants, to apply for this position, please submit your CV to the email address below. Kindly include the position name in the subject line of your email. [email protected]
- Job Reference Head of Finance
