The Finance Officer is responsible for the Company’s compliance with the applicable rules in the DFSA’s PIB Form. The company holds Class 4 [operating a crowdfunding platform] License from the Dubai Financial Services Authority.
The financial officer’s responsibilities include, but are not limited to, the following:
Preparing the company’s budget and financial forecasts on an annual basis.
Ensure the establishment and maintenance of financial systems, controls, policies and procedures that ensure the effective and responsible management of the company’s financial affairs.
Ensure that the Company has and maintains, at all times, capital resources of the types and amounts specified in and calculated in accordance with the DFSA PIB Rules.
Ensure that the Company maintains capital and liquid assets (in addition to capital resources as described above) that are sufficient in relation to the nature, size and complexity of its business to ensure that there is no significant risk of non-fulfillment of obligations when they fall due.
Ensure that the company has, at all times, capital resources in excess of the amount of capital requirements.
Ensure regular monitoring of the Company’s financial position and notify the Company’s senior management and the DFSA immediately upon identification of any breach, potential breach or concern with respect to the Company’s financial position or compliance with the PIB rules.
Prepare and submit quarterly and annual EPRS reports to the DFSA in accordance with the DFSA deadlines.
Liaise with external auditors as required to ensure timely completion of audits.
Ensure compliance with the DFSA Principles for authorized individuals.
The candidate should have extensive experience in independently carrying out the above-mentioned functions for the company. The candidate is expected to perform the role of Finance Officer and related support activities for the Company.
The candidate must have previous experience in reporting and licensed activities under the DFSA regulation.
Candidates will be required to keep abreast of all regulatory updates and DFSA laws and regulations.
FracAssets is a technology-based distribution platform that allows investors to own parts of real estate all over the world. We believe the future of real estate is fractional. We assist investors in owning parts of real estate that have been previously inspected. With FracAssets, you can now invest in fractional properties across residences, second homes, commercial, warehouse, hotels, senior living and shared living.