Director of Finance

Role Overview

Director of Finance at the University of Kalba, responsible for leading and overseeing the financial operations of the institution to ensure efficient, transparent, and compliant financial management.

Role Purpose

To direct and manage all financial operations of the University of Kalba, including financial planning, budgeting, reporting, cash flow management, and internal controls, while providing strategic financial guidance to support the university's goals.

Key Responsibilities

Financial Planning and Budgeting

• Develop the university's annual financial plan in collaboration with academic and administrative units.
• Prepare and manage the institutional budget, ensuring proper allocation of funds based on operational and strategic needs.
• Update and revise budgets periodically to reflect changes in priorities or resource availability.

General Accounting Supervision

• Oversee daily accounting operations including journal entries, bank reconciliations, general ledger maintenance, and closing of monthly and annual accounts.
• Ensure that all financial transactions are recorded accurately and in compliance with International Financial Reporting Standards (IFRS).
• Supervise the preparation of financial statements including the Balance Sheet, Income Statement, and Cash Flow Statement.

Expenditure Monitoring and Cost Control

• Review and approve financial expenditures in alignment with the approved budget and university policies.
• Analyze and monitor costs across departments and propose strategies to improve cost-efficiency and eliminate financial waste.
• Prepare detailed financial performance reports and variance analyses for senior management.

Revenue Management and Collections

• Supervise the collection of tuition fees, grants, donations, and other income sources.
• Implement and improve collection mechanisms to ensure timely and full receipt of revenue.
• Monitor accounts receivable and follow up on overdue payments through appropriate measures.

Cash Flow Management

• Develop and implement short-term and long-term cash flow forecasts to ensure financial liquidity.
• Monitor bank balances, manage cash reserves, and coordinate payment schedules to meet financial obligations.
• Ensure optimal use of financial resources and manage investment of surplus funds where applicable.

Financial Reporting and Analysis

• Prepare accurate and timely monthly, quarterly, and annual financial reports for internal and external stakeholders.
• Provide in-depth financial analysis and key performance indicators to support decision-making processes.
• Highlight financial risks and opportunities and recommend corrective actions when necessary.

Audit and Compliance

• Coordinate with internal and external auditors during audit engagements, ensuring timely provision of required documentation.
• Address audit findings and ensure implementation of audit recommendations.
• Maintain and continuously improve the internal financial control environment to ensure compliance and accountability.

Team Leadership and Development

• Lead and supervise the finance team, ensuring clear task delegation, training, and performance evaluation.
• Promote a high-performance culture focused on accuracy, professionalism, and continuous improvement.
• Identify development needs and provide professional growth opportunities for team members.

Regulatory and Legal Compliance

• Ensure adherence to all applicable financial regulations, tax laws, and reporting standards.
• Stay updated on changes in financial laws and ensure their application in university procedures.
• Maintain strong relationships with regulatory bodies and respond to official financial inquiries or inspections.

Strategic Financial Advisory

• Provide financial insights and analysis to support the university's strategic initiatives and long-term planning.
• Conduct financial feasibility studies for new academic programs, capital projects, or investment opportunities.
• Assist the leadership in evaluating the financial impact of institutional decisions.

Qualifications & Experience

• Bachelor's degree in Accounting, Finance, or a related field required.
• Master's degree in Finance, Accounting, Business Administration, or a related discipline preferred.
• Minimum of 7 years of progressive experience in financial management or accounting.
• At least 3 years in a leadership or supervisory role.
• Prior experience in the higher education sector or a large organization is an added advantage.
• Proven experience in budgeting, financial planning, reporting, auditing, and cash flow management.

Skills & Competencies

• In-depth knowledge of International Financial Reporting Standards (IFRS) and local financial regulations.
• Proficiency in ERP systems such as Oracle, SAP, or Banner.
• Advanced Excel and financial analysis tools proficiency.
• Strong analytical, forecasting, and financial modeling skills.
• Excellent command of both English and Arabic, written and spoken.
• Strong leadership and team management skills.
• High level of integrity, transparency, and confidentiality.
• Excellent communication and interpersonal skills.
• Strong decision-making and problem-solving abilities.
• Ability to work under pressure and meet tight deadlines.