Director Finance IFFCO UAE

IFFCO is currently looking to hire qualified candidates for the role of a Director Finance (Culinary, Oils & Beauty) in Dubai. The successful candidate will be responsible to plan, lead and coordinate the finance activities of the respective business segment, in close proximity with the Group Director Finance, EDs, MDs and CEOs, and ensure appropriate financial and regulatory health of the business segment. This job was posted by company’s career website on 30 December 2023 and is open for all aspiring candidates.

Responsibilities of A Director Finance

• Work in close coordination with ED/MDs on development of strategy statement and annual operating plan for the respective Business Segment as per the corporate guidelines.
• Work in close coordination with ED/MD/CEOs on strategic and operational decision making. Evaluate the strategic direction of the business segment in terms of long term and short term borrowing.
• Introduce and monitor financial discipline at the respective business segment by ensuring strict inventory and credit control, developing and implementing effective financial management information systems and designing robust standard operating procedures.
• Examine the structure of balance sheets of the group, the strength of workflows, procedures, policies and controls and suggest improvements if any.
• Identify opportunities, ensure financial due diligence and study feasibility for mergers and acquisitions, JV’s for entry into new segments / products across the respective business segments.
• Support the GD Finance in creation of 3 year Growth Play Book and Financial Operating plans.
• Partner with EDs and MDs to drive business performance and operational and strategic decision making, drive business performance and facilitate structured business reviews.
• Drive the budgeting exercise across the Business Segment. Obtain the required approvals and communicate the final budget to the key stakeholders.
• Identify and mitigate financial risks associated with proposals for financing business growth and identifying new business opportunities.
• Provide functional expertise to the business unit finance teams and periodically review and monitor financial performance of business units against approved projections, key performance indicators and budgets.

What You’ll Do More

• Establish effective and robust financial accounting and cost accounting systems so as to provide timely, accurate and consistent inputs for management reporting and allowing detailed analysis of performance in financial terms.
• Ensure strict compliance with applicable laws , statutory/ internal audit requirements, Group policies, including DOA, Accounting Manual and other finance Guidelines.
• Lead timely completion of internal and statutory audit, achieve closure of deviations/observations. Ensure compliance with applicable laws and audit requirements at the business segment level.
• Provide guidance to BU Finance Heads for managing working capital in a cost efficient manner across the Business Units.
• Support GD finance in business acquisition, restructuring and disinvestment initiatives.
• Perform thorough risk assessment, understand the risk exposure and devise strategies to safeguard the business segment assets.
• Closely monitor the procurement strategy, capital expenditure and the release of funds to various business units in alignment with the allocated budgets.
• Provide top management / Board with timely reports on Business Performance (Budgeted vs actual profits/ MIS reports) and Financial health for the respective Business Segment.
• Establish robust mechanisms for timely clearance and payment of vendor/ supplier/ salary payments.
• Ensure generation of daily margin report to gather information about the gross contribution by different channels.
• Track mark to market of the goods produced across all the companies so as to have a fair value position by the company and a fair value position by the goods produced.
• Review corporate governance and regulatory compliance for Finance processes at the Business segment level.

Requirements for Role of Director Finance

The eligibility requirements for role of a Director Finance are as under:

• Professional qualification (CA/CPA/ACCA/ CIMA/ICWA) or equivalent.
• MBA with specialisation in Finance from a reputed Business School will be an added advantage.
• 15+ years of related experience in a FMCG company, with at least 8-10 of those being in Senior Leadership positions.

Knowledge and Desired Skills

• Business acumen.
• Financial planning and analysis.
• Financial compliance.
• Knowledge of International and/or local laws and regulations.
• Risk management.
• Leading and managing change.
• Ownership & result orientation.
• People leadership.
• Innovation.
• Strategic thinking.

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