Finance Manager

1. Position Summary Baniyas Cooperative Society, one of Abu Dhabi’s leading retail cooperatives operating a chain of 4 supermarkets, together with its wholly-owned subsidiary Al Resala Investment and Properties Development LLC — a developer and operator of commercial community markets — is seeking a high-calibre Finance Manager to join its Finance Department. The successful candidate will play a pivotal role in overseeing the day-to-day finance function, managing cash flow, supervising the accounting team, and ensuring the accuracy and integrity of financial reporting across both retail (supermarket) and real-estate (rental/property development) operations. 2. Reporting & Working Relationships * **Reports to:** Financial Controller / Chief Financial Officer * **Supervises:** Accounts Payable, Accounts Receivable, General Ledger, Payroll, and Revenue Accountants * **Liaises with:** FAB Bank, External Auditors (UHY James Chartered Accountants), Tax Authorities, Internal Audit, and Operational Heads 3. Key Roles & Responsibilities3.1 Financial Reporting & General Ledger * Oversee timely month-end, quarter-end, and year-end closing processes for both Baniyas Cooperative Society and Al Resala Investment and Properties Development LLC. * Prepare consolidated and standalone financial statements in accordance with IFRS, ensuring proper elimination of intercompany transactions. * Review journal entries, accruals, prepayments, depreciation, and provisions posted by the General Ledger Accountant. * Ensure accurate and complete reconciliation of all general ledger accounts on a monthly basis. 3.2 Cash Flow & Treasury Management * Manage and monitor daily, weekly, and monthly cash flow positions across all bank accounts and entities. * Prepare rolling cash flow forecasts (13-week and annual) covering supermarket operations and ongoing property development projects. * Optimise working capital, ensure liquidity for operations, and manage funding requirements for project drawdowns under the AED 200 Million long-term FAB facility. * Monitor debt service obligations, loan covenants, and prepare loan utilisation and project progress reports for FAB Bank submissions. * Maintain strong relationships with the bank and lead all banking correspondence on operational matters. 3.3 Supervision & Review of Accounting Team * **Accounts Payable:** Review supplier invoices, payment runs, vendor reconciliations, and ageing analysis; ensure adherence to approval matrices and credit terms. * **Accounts Receivable:** Review tenant rental invoicing, debtor ageing, collections, and follow-up actions for outstanding balances across community markets. * **Revenue Accounting:** Validate daily supermarket sales reconciliations (POS to bank), rental revenue recognition, and accuracy of revenue postings. * **Payroll:** Review monthly payroll computations, WPS submissions, end-of-service provisions, and statutory deductions. * **General Ledger:** Ensure chart of accounts integrity, proper cost-centre allocations, and accuracy of all journal postings. 3.4 Retail & Inventory Controls * Oversee inventory accounting across the 5 supermarkets, including stock valuation, shrinkage analysis, margin reviews, and periodic physical count reconciliations. * Monitor gross margins, supplier rebates, promotional accounting, and cost of goods sold across all retail outlets. * Implement and strengthen internal controls over cash handling, POS transactions, and store-level financial operations. 3.5 Property & Project Accounting (Al Resala) * Oversee accounting for community market projects including the operational Sarab and Yas Island markets, the near-completion Samha Community Market, and the upcoming Al Bateen Community Market. * Track Capital Work-in-Progress (CWIP), capitalisation of project costs, finance costs, and timely transfer to fixed assets upon completion. * Review rental income, occupancy reports, lease accounting, and tenant ledgers. 3.6 Budgeting, Forecasting & MIS * Lead the annual budgeting process for both entities and prepare periodic forecasts. * Conduct budget vs. actual variance analysis and prepare insightful management information system (MIS) reports. * Provide financial analysis and decision-support to senior management for new projects, store performance, and strategic initiatives. 3.7 Audit, Compliance & Internal Controls * Coordinate with external auditors (UHY James) for interim and annual statutory audits; prepare audit schedules and address audit queries. * Ensure compliance with UAE VAT, Corporate Tax, Economic Substance Regulations, and other applicable statutory requirements. * Maintain and continuously strengthen internal controls, accounting policies, and the standard operating procedures of the Finance Department. 3.8 ERP & Systems * Act as a finance super-user of the ERP (Microsoft Dynamics 365 Business Central), driving optimal use, process automation, and continuous improvement. * Support system enhanceme