Finance Manager - AASAAL International Investment Company II مدير المالية - شركة آصال العالمية للإستثمار

PURPOSE
The Finance Manager is responsible for overseeing the financial management and strategic direction of Aasaal operations, with a focus on maximizing revenue and controlling costs across all assets. This role involves evaluating the P&L for each property, developing financial strategies, and ensuring the success of all projects in line with budget targets. The ideal candidate must have international hotel experience and a background as a hotelier, with expertise in financial planning and operations in the hospitality industry.

RESPONSIBILITIES
Financial Leadership

Lead the finance function for Aasaal’s portfolio, including budgeting, forecasting, financial analysis, and reporting.
Evaluate the P&L of each hotel within Aasaal’s portfolio, providing insights and recommendations to optimize revenue and control costs.
Develop and implement financial strategies that align with corporate goals and support the financial growth of the company’s hotel assets.
Ensure financial policies, procedures, and controls are in place, ensuring compliance with IFRS, industry standards and local regulations.
Support operators and internal teams with financial insights and corrective-action plans.

Budgeting & Forecasting

Oversee the annual budgeting process for all hotels, working closely with hotel managers to develop realistic financial plans.
Provide rolling forecasts to adjust to business changes and ensure financial plans are on track.
Analyze variances between actual financial results and budgeted figures, recommending actions to address discrepancies.
Align operational goals with financial objectives, ensuring cost efficiency and revenue maximization.
Develop financial scenarios, sensitivity analysis, and modelling.

P&L Evaluation & Optimization

Lead the evaluation of the profit and loss (P&L) for all hotels in Aasaal’s portfolio, providing strategies to enhance profitability and operational efficiency.
Identify opportunities to reduce costs and increase revenue streams, ensuring each hotel is performing at its full potential.
Support the operational teams with financial insights to help achieve property-level and corporate financial goals.

CapEx and Project Evaluation

Oversee CapEx planning and ensure that all renovation, refurbishment, and new projects are evaluated based on financial feasibility and alignment with strategic goals.
Collaborate with the Hospitality Operation Technical Service Manager to validate CapEx budgets and ensure projects are delivered within financial and operational targets.
Evaluate all Aasaal’s projects, ensuring they adhere to budgetary constraints and strategic plans, and provide recommendations to achieve financial goals.

Strategic Planning & Execution

Support the Managing Director and leadership team to develop and implement Aasaal’s corporate strategy, focusing on sustainable growth and long-term profitability for all hotel assets.
Identify and evaluate new opportunities for business expansion, acquisitions, and partnerships in the hospitality sector.
Lead initiatives aimed at optimizing performance across all hotels, including revenue management strategies and cost-saving programs.
Ensure alignment of all initiatives with AASAAL strategy and MD direction.

Financial Reporting & Compliance

Ensure the timely and accurate preparation of financial reports, including income statements, balance sheets, and cash flow reports for each hotel.
Monitor compliance with local regulations, tax laws, and international financial reporting standards (IFRS).
Liaise with auditors and external financial institutions to ensure compliance with reporting requirements and manage financial risks.

Team Leadership

Lead, mentor, and develop the finance team, ensuring high performance and fostering a culture of financial accountability.
Collaborate with leadership team, hotel managers, the operations team, and other departments to provide financial support and strategic guidance.

EDUCATION & EXPERIENCE

Bachelor’s degree in Finance, Accounting, Business Administration, or related field; MBA or Master’s in Finance preferred.
Professional accounting certification (e.g., CPA, ACCA, CIMA) is highly desirable.
10+ years of senior-level experience in financial management, with a strong background in international hotel operations.
Proven track record of evaluating P&Ls and implementing financial strategies to optimize hotel profitability.
Extensive knowledge of hotel financials, including budgeting, forecasting, and cost control within an international hospitality environment.
Experience in CapEx management and project evaluation, ensuring alignment with budgetary goals and operational needs.
Strong leadership and team management skills, with experience leading finance teams in the hospitality industry.
Fluency in English required; knowledge of Arabic is a plus.