About Dubai Community Management:
Dubai Community Management (DCM) is a premium community management services provider under the umbrella of Dubai Holding. Established in 2021, DCM has quickly become a leader in the industry, offering exceptional services to maintain and enhance residential communities and districts across Dubai.
At DCM, we believe in creating sustainable and vibrant communities that offer a sense of belonging to residents. Our team of experts provides various services, including community and district management, technical management, and financial management.
Our community and district management services ensure that each community is well-maintained, secure, and operates efficiently. We manage common areas, enforce community rules and regulations, coordinate with local authorities, and respond to residents' concerns promptly and effectively
We proudly manage a portfolio of prestigious communities, including Bluewaters, City Walk, Port de La Mer, Bvlgari Residences, Jumeirah Beach Residence (JBR), and Business Bay Executive Towers, among others. Additionally, we manage iconic districts, including Business Bay, Dubai Land Residences, Jaddaf Waterfront, Dubai Media City, Dubai Internet City, Dubai Studio City, Dubai Harbour, and more.
About the Role:
The role holder is responsible for managing the implementation and maintenance for the operating financial budgets, annual and quarterly forecasts, critical and strategic business case analysis, and impact analysis for service charge revisions and provide timely and accurate financial reports, variance analysis, MIS activities and provide support for the DCM units to achieve or exceed the company objectives.
The main duties and responsibilities of this role:
- Prepare DCM’s Master Communities and Owner Associations (MC/OA) annual budgeting process, including budget development and monitoring, in order to ensure that capital and operating budgets are developed and approved in line with the Company and RERA’s standards and requirements, and that any variances are identified and reported
- Manage the forecast and reforecast process to ensure that budgets are reviewed in timely manner to account for any changes and to provide guidance to the management and stakeholders
- Oversee the preparation of the MC/OA Service Charge pricing models and ensuring that all aspects of the General Funds and Reserve Funds as well as the requirements of the Master Developer and Relevant Authorities are met.
- Maintain the management of the General Fund and the Sinking Fund for each MC/OA budget and ensure that expenditures are allocated from appropriate funds as per the relevant authorities’ regulations and international standards
- Monitor the budgets for MC/OA and prepare and release reports to provide Management with timely information to monitor the progress of all initiatives against plan and recommend action plans for corrective measures for improvement.
- Work closely with departments / business units to develop budgets and forecasts, identify business risks/ opportunities and advice department leaders and senior management in matters of budgeting, financial analysis, and reporting
- Obtain and analyze the budget received from the various departments / units to critically examine accuracy, completeness and reliability of the information received and prepare a consolidated budget version for management approval.
- Monitor expenditure against approved budgets periodically and reconcile / monitor budget variances to ensure on-target performance against budgets and share the report with the Head of Finance for approval before circulating to the respective departments / business units.
- Conduct assessment of budget impact for any changes in plan as required and inform the senior management of such impacts
- Supervise the team inputs and support on the overall revenue, operating costs variances between actual and budget by providing meaningful information and reasoning, to be included in the overall reporting.
- Forecast, monitor, and track cash flow and report major deviations from the cash flow projection.
- Work with Accounting teams to validate the accuracy and effectiveness of consolidated financial data.
- Support management and departments heads with any other ad-hoc or in-depth analysis requests to provide direction pertaining to operating and financial performance.
- Coordinate with external auditors on the budget audits with and carry out complete project registration on Mollak to ensure that proper budgets are uploaded into the online service system.
- Prepare DCM’s Master Communities and Owner Associations (MC/OA) annual budgeting process, including budget development and monitoring, in order to ensure that capital and operating budgets are developed and approved in line with the Company and RERA’s standards and requirements, and that any variances are identified and reported
- Manage the forecast and reforecast process to ensure that budgets are reviewed in timely manner to account for any changes and to provide guidance to the management and stakeholders
- Oversee the preparation of the MC/OA Service Charge pricing models and ensuring that all aspects of the General Funds and Reserve Funds as well as the requirements of the Master Developer and Relevant Authorities are met.
- Maintain the management of the General Fund and the Sinking Fund for each MC/OA budget and ensure that expenditures are allocated from appropriate funds as per the relevant authorities’ regulations and international standards
- Monitor the budgets for MC/OA and prepare and release reports to provide Management with timely information to monitor the progress of all initiatives against plan and recommend action plans for corrective measures for improvement.
- Work closely with departments / business units to develop budgets and forecasts, identify business risks/ opportunities and advice department leaders and senior management in matters of budgeting, financial analysis, and reporting
- Obtain and analyze the budget received from the various departments / units to critically examine accuracy, completeness and reliability of the information received and prepare a consolidated budget version for management approval.
- Monitor expenditure against approved budgets periodically and reconcile / monitor budget variances to ensure on-target performance against budgets and share the report with the Head of Finance for approval before circulating to the respective departments / business units.
- Conduct assessment of budget impact for any changes in plan as required and inform the senior management of such impacts
- Supervise the team inputs and support on the overall revenue, operating costs variances between actual and budget by providing meaningful information and reasoning, to be included in the overall reporting.
- Forecast, monitor, and track cash flow and report major deviations from the cash flow projection.
- Work with Accounting teams to validate the accuracy and effectiveness of consolidated financial data.
- Support management and departments heads with any other ad-hoc or in-depth analysis requests to provide direction pertaining to operating and financial performance.
- Coordinate with external auditors on the budget audits with and carry out complete project registration on Mollak to ensure that proper budgets are uploaded into the online service system
- Review and approve Purchase Requisitions relating to all JOPs and MCs to ensure that they are according to budget.
- Contribute to the preparation of the Management reports (Revenue by Entity, Budget V/s Actual Analysis, etc.) in coordination with DCM internal departments, external auditors, third party vendors, government authorities and all the stakeholders of the master community
- Analyze budget trends and advise management of trends and analysis between OAs and Master Communities.
- Add value to the service charge optimization process by coordinating with technical teams and ensuring that best pricing from suppliers is achieved.
- Co-ordinate with technical team to develop life cycle plans for community Assets
- Co-ordinate with Compliance team to develop finance policies and procedures.
- Review Related Party and inter Company reconciliations prepare summarized RP decision matrix providing recommendation and advise on the settlement of balances and execution.
- Suggest ideas on cost control and cost efficiency measures based on daily operational diagnosis and historical trends, in coordination with FM teams
- Stay abreast of current and new financial technologies, tools and techniques that can be used within DCM to improve planning, monitoring, reporting and control.
- Provide leadership within the function, setting individual objectives, managing performance, developing, and motivating staff, provision of formal and informal feedback and appraisal – in order to maximize subordinate and departmental performance in the pursuit of the Department’s objectives.
- Build and promote an organization culture that encourages innovation and reward performance that leads to enhanced staff motivation and retention.
About you:
The ideal candidate will have the below qualifications and experience:
- Bachelors’ degree in Accounting or Finance, CA, CPA, CMA or equivalent is required.
- Minimum of 8 years of experience in related field
- Charted Accountant with experience working with RERA and Mollak preferred
- RERA panel includes (Affinex, Baker Tilly, Meralis, HLB, Grant Thornton)
- Experience of Master Community service charge modelling.
- Strong knowledge across all financial aspects – budgeting, forecasting, planning, accounting, reporting etc.
- Excellent analytical skills that allow for interpretation of budgetary, financial, and related management information.
- Excellent writing skills sufficient to draft professional reports and correspondence that is clear and concise.
- Masters’ degree in Finance, Accounting, or MBA Finance preferred.
Experience in Master Community financial management.
About Benefits:
At Dubai Holding, we're committed to nurturing the success and well-being of our colleagues. Join our dynamic and diverse team, and enjoy a comprehensive benefits package that includes competitive compensation, career development opportunities, and a collaborative work environment. We strongly believe in creating an empowered Internal workforce that will help us build a connected city for tomorrow. We are committed to attracting the brightest minds and nurturing the most pioneering candidates who desire to make a great impact on the future of Dubai.
