Job Information
Dubai Holding DHAM_Finance.Assistant Manager - Accounting in Dubai, United Arab Emirates
Assistant Manager – Accounting & Statutory Reporting – Dubai Holding Asset Management
About Dubai Holding Asset Management:
Dubai Holding Asset Management (DHAM) owns and operates an extensive portfolio of 20 landmark retail destinations and 15 residential communities. The Group plays a focal role in shaping Dubai's position as a global leader in business, tourism and leisure, contributing to its position as one of the world's most coveted and sought-after liveable destinations.
From hot-spot retail destinations like Bluewater's, JBR, Souk Madinat Jumeirah, Al Khawaneej Walk and The Outlet Village to popular attractions, including the Theatre of Digital Art, Madame Tussauds, Tr88house, Museum of Illusions, Dubai Holding Asset Management’s retail destinations captivate millions of visitors and tourists every year. Meanwhile, the niche and vibrant community centers as Bay Avenue, Mudon Community Centre, and Serena Marketplace play a vast role in enhancing the overall quality of life in residential communities, making neighbourhoods more vibrant and connected. In 2022, Dubai Holding Asset Management’s retail destinations collectively attracted over 28 million visitors and hosted over 75 events across the portfolio.
Dubai Asset Management maintains a substantial presence in Dubai with a leasing portfolio of 15 distinct residential communities, elevating the city’s global recognition as one of the most desirable and liveable destinations worldwide.
About the Job:
An opportunity has arisen for an Assistant Manager – Accounting & Statutory Reporting role to join Dubai Holding Asset Management . The main duties and responsibilities of this role:
Financial Statements and Statutory Reporting
Support in the monthly / quarterly / yearly closing of GL with high level of accuracy.
Ensure all month end closing entries have been accounted in General Ledger (GL) and perform monthly trial balance reviews, analyze the trends and unusual movement of accounts.
Support in consolidating the financial statements of DHAM and other outsourced functions, subsidiaries etc. ensuring fair presentation and adherence to IFRS.
Prepare the standalone financial statements of each DHAM entities under audit.
Coordinate with the subsidiaries for timely submission of the group reporting packages for the half-year review and year-end audit in an accurate manner and consolidate the subsidiary’s group reporting package in the financial statements.
Prepare required disclosures as per IFRS guidelines for financial statements.
Prepare other schedules for statutory purposes such as schedule of related party matrix, schedule of other income, schedule of general and admin expenses, marketing and selling and other expenses.
Perform and run month end closing functions for the proper AR closure in Yardi and Oracle.
Review monthly revenue recognition and accounting to ensure the compliance to IFRS requirements and company’s revenue recognition policy. Regularly review underlying system set-ups to ensure revenue recognition is accurate as per IFRS and company policies.
Implement policies, processes and procedures for the proper management/reporting of accounts receivable and provision for bad debts/ bad debts write off to comply with IFRS requirements and company policies.
Ensure all Accounts receivable and revenue related schedules are provided on time to complete and submit GRP to Dubai Holding on Quarterly/half year/annual basis.
Auditing Support
Co-ordinate with Dubai Holding, subsidiaries, external / internal auditors, other departments / business units to support the entire audit process efficiently and effectively.
Coordinate within the finance team and assist the external auditors in providing them sufficient and reliable data to complete the audits as per the agreed schedule.
Prepare detailed analysis of material variances based on actual balances (current year vs. prior year) as required by the external auditors.
Record Keeping and Systems Maintenance and Support
Ensure financial and operating systems are established and are maintained in order to provide appropriate levels of security and control over the Company’s revenue recognition and accounts receivables management.
Support the implementation/enhancement of IT related projects including providing quality inputs, data validation etc.
Keep abreast of latest trends in new accounting standards such as modeling and analysis mechanisms, disclosure impacts on financial statements, key ratios and provide inputs and suggestions for the continuous improvement of Financial reporting processes and practices, taking into account ‘international best practice’, changes and changes in the business environment which demand proactive action plans in line with DHAM’s objectives.
Support the Manager by researching on new accounting standards (e.g. IFRS 15, IFRS 9 etc.) and highlighting its application and impact on DHAM’s financial statements with options to report to management (ED, CFO, CXO).
About you:
The ideal candidate for this position will have the following experience and qualifications:
Bachelor’s Degree in Accounting / Business or related field.
CA / CPA / CMA or equivalent professional qualification in accounting.
Minimum 4-5 years of relevant experience in Accounting and Statutory Reporting.
Big 4 accounting / consulting firms experience preferred.
At least 2 years of experience in the Real Estate industry within the Middle East.
Practical experience with IFRS, GAAP, and audits.
Strong analytical and numerical skills.
Excellent team leadership and interpersonal abilities.
Effective at conflict resolution and problem-solving.
Flexible with scheduling during key deadlines.
Proficient in ERP systems (Oracle, Hyperion preferred).
Advanced MS Office and Excel skills.
About the Benefits:
At Dubai Holding, we're committed to nurturing the success and well-being of our colleagues. Join our dynamic and diverse team and enjoy a comprehensive benefit package that includes competitive compensation, career development opportunities, and a collaborative work environment. We strongly believe in creating an empowered workforce that will help us build a connected city for tomorrow. We are committed to attracting the brightest minds and nurturing the most pioneering candidates who desire to make a great impact on the future of Dubai.