Finance Manager - Budget and Performance Management

About Us 

Born from the vision to elevate Dubai's global prominence, Wasl was founded on May 25, 2008, with the mission to transform the city into an even more captivating destination for residents, businesses, and visitors alike. Created from the union of the Dubai Development Board and Real Estate Department, Wasl embarked on a journey of seamless integration. This strategic merger not only streamlined operations but also empowered our team with enhanced expertise, enabling us to adopt dynamic, market-driven investment strategies.

Today, Wasl stands tall as a cornerstone of Dubai's real estate landscape. As one of the city's largest and most diversified real estate management companies, we proudly oversee an expansive portfolio of landmark assets, entrusted to us by DREC and other esteemed partners. 

Job title = Finance Manager – Budget and Performance Management

Direct reports 

1. Analyst – Budget & Performance Management
2. Accountant – Budget & Performance Management
3. Accountant – Budget & Performance Management

Job purpose

To be a detail-oriented and motivated Finance Manager (Budget and Performance Management) with main job purpose to include the below functions:

• Manage all monthly financial reporting for Wasl and its managed operations, including comparisons of actual to budgeted results
• Manage all financial reporting on behalf of Business Units such as Hospitality and Golf
• Prepare all ad-hoc financial analysis requested by senior management, including analysis of financial performance, forecasts and long-term projections
• Coordinate the Budgeting process for Wasl and its managed operations, including liaison with all departments and Business Units to produce a consolidated budget. Work with the Head of Budget, Performance Management & Treasury, for all presentations and analysis related to the budgets to secure approvals
• Be the focal point for new financial reporting and FP&A initiatives – including implementation of new budgeting and financial reporting systems/tools and liaising with any internal project managers, business excellence personnel and consultants for project implementation.
• Act as the focal point for all information requests from a budget & financial reporting perspective, with other non-finance departmental personnel based on their requirements.
• Manage a team of three persons (mentioned above) to implement a methodic and detailed financial reporting and budgeting calendar, to ensure deliverables are consolidated, reviewed and submitted to the Head of Budget, Performance Management & Treasury on a timely basis with high quality and accuracy.

Scope

This role is integral to the finance department, providing managerial oversight of the Budget and Performance management team of the company. The Finance Manager (Budget and Performance Management) will coordinate with internal teams (both finance and non-finance touch points) maintain high quality, accurate and timely financial reporting and analysis.

Budgeting:

• Manage the team and lead the process to collate, analyse and compile budget details from relevant departments with a focus on capital expenditure and operating expenditure budgets.
• Prepare budget packs & presentations for review by senior management for Wasl.
• Review budget packs & presentations for managed operations for Wasl, prior to final reviews and approvals by senior management.
• Participate in discussions and budget analysis exercises with departments to ensure all required data is accurately captured and budgets requested are supported with adequate information.
• Review annual budget submissions by concerned departments and Business units (Hospitality and Golf) and analyse any variations from prior periods, to allow for improved management insight and decision making on Budget.
• Ensure budget submissions are prepared and submitted within the agreed timelines.
• Ensure completeness and accuracy of budget submissions, maintain records of budget data, and participate in budget review meetings with concerned departments.
• Review the monthly budget upload file in SAP/SAC systems for departmental cost and capital expenditure functions, which is prepared by the direct reports to the role.
• Review all requests for creating and editing master data in SAP for Funds Centre, Profit Centre, and Cost Centre, as well as budget supplements and transfers to ensure information is accurate, justifiable and valid – before approving and recommending to Head of Budget, Performance Management & Treasury. Manage the team processing these requests, by guiding them and being the focal point for contact and discussion with other departments related to these requests.
• Review all capital expenditure approval forms and amendments for budgetary control purposes to ensure compliance with DOA approval requirements, before approval in system as per the process work-flow.
• Act as the focal point for new financial reporting and FP&A initiatives and tools related to Budgeting (SAC – SAP Analytics Cloud)– including implementation of the systems/tools and liaising with any internal project managers, business excellence personnel and consultants for project implementation, while guiding the three direct reports on utilisation of the systems and related reporting being generated from these systems.

• Lead the preparation of:

• 10-year cash flow projections and forecasts setting the long term plan for the company
• 5-year Business Planning documents
• Ad-hoc projections/presentations/forecasts for the current year and long term horizon, keeping in view scenario based dynamic input for analysis
• Liaising with all departmental and Business Unit teams to collate and review the data for high quality analytical output

Performance Management:

• Review detailed monthly management packs (prepared by the three direct reports) for operating expenditure and capital expenditure, including analytical review of detailed departmental costs and investigation of significant variances between actual and budgeted figures. Discuss variances and action plans with various departments
• Focus on the modernization of financial reports sent to departments, to ensure (a) automation (b) meaningfulness (c) Improved presentation to allow better analysis (d) work with various departments to customize reports where needed for their requirements (e) improved timeliness of monthly reporting calendar
• Act as the managerial focal point for all requests, presentations, cash flow projections, analysis requested by the Real Estate Department and Property Management, who closely liaise with Finance team for various information for analysis and presentations.
• Review forecasts / revised budgets workings for operating costs, and guide the direct reports on actions needed
• Meet and guide various functions in understanding budget variances and trends.
• Review feedback on variances between actuals and budgets to relevant stakeholders with the direct reports and guide the concerned departments/ Business Units via proper presentations and analysis
• Develop new reports to support key business decisions, with a focus on automation and system based output
• Review all content for ExCom, Board and Detailed monthly finance presentations prepared by Direct reports with a view to ensure high accuracy and quality, and guide the team on a reporting schedule adherence. Prepare all notes to presentations for the ease of reference and review by leadership.
• Review management presentations and reports for other managed operations for which financial reporting responsibilities are with Wasl finance.

Key Working Relationships:

Internal: Finance, Projects, Commercial, RED, Hospitality, Golf, IT, Business Excellence

External: Consultants for system upgrades/automations/implementations

Minimum requirements

Qualifications:

Bachelor degree in finance or accounting fieled

Professional accounting qualification is a must (e.g., CPA, ACCA, CA)

Knowledge:

• Proficiency in MS Excel skills and Microsoft office suite.
• Working knowledge of budgeting and accounting ERP SAP & SAC systems, is an advantage

Job Skills:

• Excellent communication and relationship management skills.
• Attention to detail and high level of accuracy.
• Ability to manage multiple tasks and meet deadlines.
• Strong analytical & interpersonal Skills.
• Ability to work collaboratively with cross-functional teams.
• Proactive and able to work independently with minimal supervision.

Experience:

• Minimum of 5+ years of experience in FP&A (Financial Planning & Analysis) / Budgeting roles
• Experience in Real Estate Leasing / Real Estate Freehold Business / Hospitality, is an advantage

Our Values 

At Wasl, we are more than just a real estate company. We are active contributors to Dubai's thriving economy, fostering enduring relationships with our valued stakeholders. Our customer-centric approach is rooted in trust, respect, and a relentless pursuit of innovation in every aspect of asset management.