Finance Controller, Dubai Finance Controller, Dubai …

Arqaam Capital
in Dubai, United Arab Emirates
Permanent, Full time
Last application, 29 Jul 21
Competitive
Arqaam Capital
in Dubai, United Arab Emirates
Permanent, Full time
Last application, 29 Jul 21
Competitive
Arqaam Group is a financial services and investments firm concentrating on emerging and frontier markets, with a particular emphasis on the Middle East and Africa. Arqaam Capital Limited (Cayman Islands) is the parent company of the group. Its business is divided into Arqaam Global Markets (AGM) and Arqaam Principal Finance (ACPF), and operates from offices in UAE, Egypt and Lebanon; with its headquarters in the DIFC.

AGM refers to the sales and trading, asset management, investment banking and other financial services business of the Arqaam Group. These services are provided through AGM’s regulated entities and the services provided include Cash Equities, Fixed Income, Derivatives, Equities Asset Management, Fixed Income Asset Management, Corporate Finance Advisory, Capital Markets, Advisory, Research, Custody, Treasury and Foreign Exchange, and Client Solutions Group.

ACPF focuses on special situations private equity, real estate and technology investments. Investments to date include a touristic and residential development in Croatia; a gold mining platform in Mongolia; an agricultural fertiliser business in Australia; and a metasearch travel application for the Middle East based in Singapore.

Main Purpose of the Role

  • Director has primary responsibility for the planning, implementation, managing and running of all the finance activities of the Arqaam Group, including business planning, budgeting, forecasting and negotiations.
  • The Finance function at Arqaam is a strategic function with high visibility to the Executive management, Audit Committee of the Board and other stakeholders.
  • The role will be a Registered Person (Authorized Individual) role under the DFSA.
  • The roles and responsibilities shall cover the following broad areas: 
  •  Accounting
  • Transaction processing, accounting and reporting, financial control of AGM entities and ACPF entities.
  • Compliance - Regulatory compliance of prudential requirements and Direct and Indirect Taxes regulatory compliance. 
  • Management & Control – Develop, produce and analysis of financial and non-financial information including setting annual and interim budgets to inform, monitor and instigate operational actions and decision making to meet the firm’s objectives. Ensure and institute cost discipline across the firm in line with the approved budgets. Review and contribute towards refining of these business objectives on a periodical basis.
  •  Strategy – Contribute to the strategy process covering topics such as adequacy of financial resources, defining financial performance success measures.
  • Risk Management – Contribute to the development of ICAAP and IRAP policies and procedures and annual review thereof. Review current operational risk issues including key risk indicators for the Finance function and ensure adequacy of measures. 
  • Management Committees and Audit Committee of the Board – Provide management information on current and prospective financial performance at the firm and business line levels including income, cost and balance sheet dynamics driving performance, provide comfort on the adequacy of the current and forecast regulatory capital. Provide comfort to the audit committee on the fairness of the financial statements of AGM entities, ACPF entities and the Group Consolidated.
  • IT Systems - Review the adequacy of the existing IT infrastructure and systems to ensure Finance is not bogged down by transaction processing complexities and consequent delays in reporting and control.
  • Change Management - Drive forward change agenda for Finance (IT-related or otherwise).
  • Investor Relations / Stakeholder Management – Ensure stakeholder feedback is considered and appropriate updates are provided.

Principal Duties & Responsibilities

  • As a member of key management committees, participate and demonstrate leadership and subject matter expertise in the committees. Forecast of adequacy of regulatory capital requirements and advice Risk Working Group and Committees on capital planning.
  • Preparation of Quarterly management accounts, Board Packs including Dashboards in accordance with strict reporting deadlines. The role will also include preparing and presenting monthly management reports which shall at the minimum include relevant KPIs, business line profitability assessments and integrating risk information and competitor/peer group analysis, where applicable. 
  • Managing annual, interim and quarterly audits and reviews for AGM entities in accordance with relevant regulatory requirements and provide confidence and comfort to the Audit Committee on the fairness of the financial statements.
  • Devising, reviewing and updating financial policies, systems and processes to provide senior management with accurate MIS reports (including financial statements) for them to be able to take timely decisions. Regular interaction with other department heads to discuss budget to actual variance analysis.
  • Developing, implementing and reviewing financial strategies including budgeting and forecasting, cost control and expense reviews and providing strategic input on Finance related matters with regards to new business developments.
  • Challenge the “as-is” state of finance function and rationalize new process Driving and completing system related projects as and when required.
  • Ensure timely submission of returns to the regulators, tax authorities, exchanges (wherever applicable)
  • Managing external service providers in relation to preparation of financial statements for and ensuring the timeliness and accuracy of their outputs.
  • Lead and mentor team members and be a subject matter expertise within the team and outside in the Firm in order to build a reliable Finance Function.
  • Contribute to the ICAAP/IRAP policies and procedures and assist in annual update of these policies and procedures. Ensure operational risks are identified for the Finance function and properly measured, monitored and mitigated.


Key Relationship (Internal & External)

  • Internal: Management Committees including Excom, Audit Committee of the Board, Operations, Risk, Legal, Compliance, Internal Audit HR and IT. 
  • External: Regulators, accountants, banks and auditors.

Reports to

  • Arqaam Global Markets Chief Operating Officer
  • Arqaam Global Markets Audit Committee
  • Arqaam Global Markets Chief Executive Office

Key Competencies

  • The incumbent will be expected to demonstrate high levels of Focus, Drive for Results, Teamwork, Flexibility & Change. 
  • The incumbent will be expected to have strengths in Planning & Organising, Interpersonal Relations, Communicating & Influencing, Analysis & Judgement, Managing & Developing people and Leadership.
  • Knowledge and application of regulatory rules, accounting standards and internationally recognised financial, statutory, regulatory, tax and management accounting practices.
  • Strong understanding of various investment banking products and ability to ensure that the financial statements are prepared in compliance with regulatory and IFRS rules.

Qualifications, Skills, Knowledge & Experience

  • Qualified accountant (Chartered Accountant) with at least 10 years of post-qualification experience (PQE) in the investment banking industry or exposure to the financial services industry through a Big 4 senior management role. 
  • High level of knowledge of IFRS and how this applies to a Financial Services institution.
  • Detailed knowledge of reporting requirements for relevant regulator in jurisdiction where it operates – in particular the DFSA. 
  • Strong system skills: General Ledger systems, Back Office Systems and good MS office application skills.
  • Ability to manage stakeholder relationships.
  • Strong leadership qualities and demonstrable experience of working under pressure and tight deadlines.
  • CFA Certification or progress towards that is desirable. 
  • Advanced Excel expertise.
     
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