Location: United Arab Emirates
Industry: Insurance Brokerage
Reports To: Shareholders and COO
Job Overview:
The Finance Manager will manage the financial affairs of the company, ensuring compliance with UAE regulatory requirements and tax regulations, and optimizing financial performance and controls. The role requires deep financial expertise in the insurance sector, particularly within the UAE, as well as strong communication skills.
Key Responsibilities:
Financial Operations & Control
- Oversee and produce all financial reporting (monthly, quarterly, annual), budgeting, forecasting, and cash flow management (including receivables aging analysis and management)
- Ensure compliance with UAE tax laws, VAT, and other regulatory financial obligations.
- Manage accounting, treasury, and financial control functions
- Oversee monthly reconciliation and corrective actions of a) insurer statement vs. placement accounting entries and b) placement accounting entries vs. customer invoices
- Design/improve and implement firm-wide accounting processes and reduce reconciliation discrepancies
- Oversee production statements and associated commissions payable to employees
- Maintain robust internal controls and risk management processes
Regulatory & Insurance Sector Compliance
- Ensure compliance with UAE Central Bank (CBUAE) and other relevant bodies.
- Prepare financial reports and documentation required by regulators and auditors.
- Stay updated on changes in UAE insurance and financial regulations and adapt practices accordingly.
Leadership & Team Management
- Lead, mentor, and develop the finance team.
- Collaborate with other departments including underwriting, claims, and sales for financial insights and planning.
Stakeholder & Investor Relations
- Liaise with external stakeholders such as auditors, banks, reinsurers, and investors.
- Present financial reports and insights to the Board of Directors and shareholders.
Requirements:
Education & Qualifications
- Bachelor’s degree in Finance, Accounting, or related field (Master’s or MBA preferred).
- Equivalency Certificate from the UAE Ministry of Education if the degree was earned outside the UAE
- Recognized professional qualification (e.g., CPA, ACCA, CA, CMA).
Experience
- Minimum 5 years of experience in financial controller role.
- Preferably experience in the insurance or financial services sector in the UAE.
- Solid understanding of UAE regulatory environment and insurance brokerage operations.
Skills
- Strong analytical and strategic thinking skills.
- High proficiency with IFRS.
- Excellent communication, and interpersonal skills.
- Proficiency in financial software and ERP systems (e.g. Sigorta).
- Fluency in English; Arabic is an advantage.