About Us:
Powered by human connections and the desire to reimagine guest experiences, every destination within our hospitality portfolio is transformed to reflect the human spirit: nurturing, ever evolving and wholesome. Our diverse portfolio of assets ranges from hotels and island resorts to golf clubs, marinas, and iconic beach clubs. Our footprint in the local and international hospitality landscape is growing and we are on a mission to turn ordinary moments into lifelong memories through offering unforgettable guest experiences. Aldar Hospitality is the subsidiary of Aldar Properties PJSC, the leading real estate developer and manager in the UAE. Come and join us on this journey.
Position: Corporate Director of Finance and Business Operations
Reports to: Chief Financial Officer
About the role:
As Corporate Director of Finance and Business Operations, you will work closely with the Chief Financial Officer of Aldar Hospitality and the finance leaders in the Business Units to provide strategic planning and sound financial stewardship across a diverse portfolio of hospitality assets. You will primarily be responsible for developing and implementing robust controls and accounting operations, ensuring consistent and compliant reporting practices as well as spearheading financial automation, digitization and business integration efforts, including the investment of assets in transformation and DevHold projects. You will also play a crucial role in overseeing the smooth running of other key finance functions such as tax, budget, credit and treasury.
KEY AREAS OF RESPONSIBILITY
Strategic Planning & Financial Stewardship:
Lead the financial reporting and consolidation process for Aldar Hospitality and its business units, ensuring compliance with IFRS and USALI standards.
Develop and implement robust financial controls and accounting practices across the portfolio of hospitality assets, ensuring robust financial reporting, compliance and governance practices across the organization.
Liaise and collaborate effectively with finance leaders within the business units to gather accurate information, address concerns, and ensure consistent reporting practices.
Lead the annual budgeting (i.e. operational and capital (including FF&E) budgets) and forecasting cycles for Aldar Hospitality and ensure timely submissions from Business Units. Manage consolidation and presentation of data.
Oversee the activities and output of the Aldar Hospitality finance team (Shared Services) and ensure development and retention of key staff.
Ensure a compliant and efficient month end, quarter end and year end close process.
Provide financial analysis and insights to support strategic decision-making for Aldar Hospitality and its Business Units.
Ensure corporate tax and VAT reporting are achieved in compliance with Aldar Group Tax Policy and FTA Regulations.
Oversight of external audits for Business Units to ensure accuracy, timely preparation and submission to relevant authorities and Aldar Group.
Operational Oversight:
Lead Business Review Meetings (BRM) to ensure financial operations, including revenue and cost management, are accurately reported and forecasts are presented by Business Units in line with budget.
Review account receivables with the Business Units to ensure overall credit controls are correctly adopted and credit risks are mitigated with timely collection of debt.
Make sure sustainability initiatives are monitored and achieved in alignment with the strategies formulated in annual business plan.
Review and ensure adherence to finance policies and procedures and accuracy of financial reporting in the Business Units.
Optimize cash management and bank relations to enhance cash positions.
Project Cost Management and Cash Flow:
Drive cost management of transformational projects to ensure the project costs and their related variances remain within the approved budget.
Prepare and monitor the monthly cash flow to ensure adequate funding is available to meet the project payments.
Review and monitor the Advance Payment and Performance Bond Bank Guarantee, to remain compliant with contract terms.
Financial Automation and Digitization Projects:
In alignment with Aldar’s overall digitization and automation objectives, drive innovation and continuous improvements in the finance function to achieve streamlined and integrated finance systems and business processes.
Take ownership for ensuring improvements and clarity in reporting through integrated dashboard and analytics, with additional responsibility for overseeing Power BI.
Collaborate closely with key stakeholders, including cross-functional teams (strategy, innovation and IT) to understand business requirements and align technology and innovation initiatives with finance and business needs.
Drive successful transformation of finance processes from legacy systems to new integrated systems.
Collaborate with cross-functional teams, including IT, to define the migration roadmap, ensure project timelines are met, and minimize disruptions to business / finance operations.
Stay up to date with the latest advancements and trends in integrated finance technology and best practices.
Identify opportunities for process optimization, automation, and innovation to drive business value.
Optimize resource allocation to maximize efficiency and effectiveness of finance transformation initiatives.
Team Leadership and Executive Partnerships:
Collaborate closely with CEO and Senior Leadership Team within Aldar Hospitality and key stakeholders in Aldar Group Corporate, providing financial insights to drive decision-making.
Guide and mentor finance teams, fostering a culture of continuous improvement and operational excellence.
Enterprise Risk Management and Business Continuity Management:
Review the ERM & BCM Framework and implement Risk Registers within the Hospitality Business Units.
Undertake regular reviews and reporting to ensure the Framework is adopted and the relevant risks are reported to the Board on a periodic basis.
Education and Experience:
Bachelor’s degree in accounting, finance or related field (Master’s or CPA/ACCA/ACA preferred)
Minimum of 15 years of relevant experience in a major hotel operator, preferably with regional corporate experience.
In-depth expertise and understanding of finance operations and technologies, AND emerging finance SaaS tech.
Core Competencies
Strong knowledge of the hospitality industry, preferably within the GCC.
Strong knowledge of USALI and IFRS
Proficiency in financial statement analysis.
Ability to work with complex financial data and make informed decisions based on analysis.
Proven track record of leading successful finance transformation initiatives and driving cross functional collaboration.
Exceptional team leadership qualities.
Equal Opportunity Statement
Aldar is an equal opportunity employer. We celebrate all forms of diversity and remain committed to creating an inclusive and accessible environment for all applicants and employees. We will ensure that all candidates are provided reasonable accommodations to participate in the job application process, be considered for a range of critical job functions and receive other benefits and privileges of employment.
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