About the job IT Governance & Finance | Morning Shift | Onsite Islamabad / Karachi | PKR Pay
Hiring IT Governance & Finance - Onsite Islamabad / Karachi
About Client Company:
Our Client company is one of the largest diversified family business groups in the Middle East, operating across five key sectors: Foods, Development, Mobility, Infrastructure, and Property Management. Founded in 1960 as a trading business & became one of the earliest pillars of industry and commerce in the emerging United Arab Emirates.
Job Description:
We are seeking a qualified highly skilled and detail-oriented Specialist IT Governance & Finance to join our dynamic team. The successful candidate will play a crucial role in managing financial activities related to IT projects, overseeing procurement processes, and ensuring compliance with financial policies. The ideal candidate will have a strong background in both IT finance governance and procurement, with the ability to streamline processes and optimize costs effectively. This individual will play a crucial role in tracking and maintaining IT Budget Capex & Opex activities related to IT projects, Contracts , budgeting, forecasting, allocation, chargeback, amortization at AGI, preparing RFP's , bids, vendor management and contract ( MSA, SOW, Subscriptions, Licenses renewals) drafting , review & negotiations.Budget tracking, recon and reporting
Strategic Role:
- Sr. Specialist IT Governance & Finance will play a key role in IT Capex & Opex budget tracking and management.
- Providing View of Capex Drawdowns & Opex utilization in alignment with Finance
- Cross charge, chargeback, allocation , amortization across business units on project spends to give clear view on spends
- Financial analysis & monthly reporting aligned as per Organizations Financial GL.
- IT Contract mapping to Budgets and vendors.
- Understanding of Finance methodology for technology.
Operational Role:
Financial Planning and Budgeting:
Collaborate with IT teams to develop and manage IT Capex & Opex budgets.
Assist in the creation of financial forecasts and projections related to IT initiatives and utilization.
Monitor IT Budgets ensuring adherence to budgetary constraints.
Line by line budget tracking and ensuring spends are tracked and contracts are renewed proactively, with focus on cost optimization based on system licenses utilization and allocation.
Financial Analysis:
Conduct financial analysis on IT investments, providing insights and recommendations.
Evaluate financial implications of proposed IT projects and initiatives.
Prepare and present financial reports to management, highlighting key performance indicators.
Monthly Recon of IT financials as per the Central Finance General Ledger and ensure the spends are controlled, managed, tracked and aligned as per the budget.
Payments:
Tracking of Contract payments, invoices linked to milestones, resources and project deliverables
Tracking and reporting spend across cloud, subscriptions, ensuring timely payments of invoices based on budget & consumption.
Cost Allocation and Chargebacks:
Manage and monitor cost allocation across Business units for various IT services, assets and projects.
Manage the process of chargebacks to business units or departments for IT services.
Calculate depreciation of assets ( H/W, S/W, equipment's, Services) and amortization
Contract & Vendor Management:
Collaborate with procurement and IT teams to manage vendor contracts and agreements.
Prepare RFI's , RFP's, for new IT initiatives, projects and renewals for both Software., Hardware, Cloud, licenses, services etc..
Track and report on vendor costs, ensuring accuracy and alignment with contractual terms.
Oversee the end-to-end procurement process for IT goods and services.
Collaborate with vendors, negotiate contracts, and ensure favorable terms to achieve cost efficiencies and ensure that contract renewals are initiated well in advance and follow-up on proactive negotiations to achieve cost saves and optimization.
evaluate vendor performance and address issues promptly.
Work with legal & central procurement teams to review and negotiate contracts.
Collaborate with cross-functional teams to gather requirements for IT procurement.
Communicate effectively with IT teams, stakeholders, and vendors.
Development and implementation of Inventory management/procurement procedures manuals and ensuring it is strictly adhered to at all times.
Development of a Weekly Senior Management Team Dashboard that includes key tenders & contracts, unexpected cost, savings achieved to date, etc.
Prepare the required procurement documents and review and process purchase requisitions in line with RAK Bank policies, procedures, and processes.
Record all details for all tenders, contracts, purchase requisitions and purchase orders in a purchasing database as well as contracts that are under development but are not yet active.
Receive RFPs, and support with the issuing orders in accordance with specifications required.
Support with the technical evaluation process and the commercial evaluation of acceptable bids; support with the preparation of award recommendations for suppliers.
Support with the follow-up with suppliers on the receipt of required materials in a timely and accurate manner.
Recommend new processes or systems for improvement; implement new ideas and strategies.
Monitor business trends and product availability to pay the best price for company goods and services without sacrificing quality or delivery times.
Vendor Assessment & Grading.
Develop and maintain relationships with key IT suppliers.
Maintain central repositories for all Contracts and budgets, do monthly status recon and reporting on same.
Compliance and Financial Governance:
Ensure compliance with financial policies, procedures, and regulatory requirements as per central finance of AGI
Participate in internal and external audits related to IT financial activities and maintain positive rating across all audits
Implement and maintain financial governance practices for IT expenditures.
Financial Reporting:
Generate and analyze financial reports for IT projects and initiatives.
Provide regular updates to stakeholders on financial performance and budgetary status.
Work with finance and accounting teams to reconcile IT financial data on monthly, quarterly & annual basis.
Other Details:
- Experience: 5-6 Years of Experience
- Education: Bachelor's in finance, Accounting, Business Administration, or related field.
- Proven experience in IT finance, procurement, or a related role.
- Excellent negotiation and vendor management skills.
- Technology terminology and concept Understating of billing, chargeback, allocations, depreciations, Book value concepts
- Worked previously in IT finance, and handled Capex, Opex, Contracts. AMC and subscription payments and financial reporting
- Collaborate with cross-functional teams to gather requirements for IT procurement.
- Communicate effectively with IT teams, stakeholders, and vendors.
- Relevant certifications e.g., CMA, CPA, CIPS
- Experience with ERP systems and financial modeling.
- Working Days: Monday to Friday
- Work Timings: 9:30am - 6:30pm
- Work Mode: Full Time Onsite in KHI/Islamabad.
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