Outsourced Finance Officer

The Finance Officer (FO) is crucial for ensuring compliance with financial regulations and reporting requirements in firms within the Dubai International Financial Centre (DIFC). Their role is vital in maintaining the financial integrity of the organization. If an in-house appointment isn't possible, outsourcing a Finance Officer is a practical solution. This provides access to specialized expertise while reducing costs and administrative burdens.

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Let MS empower your business in DIFC

Mohammad Shafeek

CEO & Founder of MS

Let MS empower your business in DIFC

Simplify Compliance, Scale with Confidence

In firms within the Dubai International Financial Centre (DIFC), appointing a Finance Officer (FO) is crucial. The FO ensures financial probity and regulatory compliance. Responsible for key functions like financial reporting and risk management, the FO plays a vital role in upholding the integrity of financial operations within the highly regulated landscape of the DIFC. The inhouse appointing of a Financial Officer can be daunting, so opting for an Outsourced Financial Officer holds a practical solution. Their expertise ensures transparency, manages risks, and ensures regulatory compliance. By entrusting this responsibility to an outsourced professional, firms can navigate regulatory complexities effectively, ensuring compliance and safeguarding financial stability within the DIFC.

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Are you in a hurry? reach us on +97148357270 or
[email protected]

Is outsourcing Finance Officer permitted by DFSA?

Yes, the DFSA allows outsourcing of a Finance Officer. However, approval depends on factors such as the type of financial service, projected business volume, additional endorsements, and overall team composition. The entities need to ensure that the outsourcing arrangement does not compromise the integrity, security, or compliance of financial operations. This process is generally straightforward for Category 4 firms and Restricted Fund Managers.

Should I identify a Finance Officer before or after obtaining authorization?

It's advisable to secure authorization from the Dubai Financial Services Authority (DFSA) before hiring a finance officer. This approach streamlines the hiring process, reduces compliance risks, and allows the finance officer to begin their role promptly without delays. Outsourcing a finance officer can be particularly advantageous in this scenario. By engaging an outsourced finance officer, you can access specialized expertise in DFSA compliance without the need for immediate in-house hiring. These outsourced professionals are often well-versed in DFSA regulations and can help ensure that your financial operations comply from the outset. It’s advisable that all the key controlled personnel should have enough expertise to ensure regulatory compliance.

Finance Officer Responsibilities

Ensure the company's compliance with the DFSA PIB module as an Authorised Individual.

Provide regular capital adequacy reports to the SEO and the Board.

Prepare budgets and financial projections, anticipating issues and ensuring continuous adequacy of Capital and liquid Resources.

Oversee finance and accounting functions, ensuring adherence to IFRS and applicable rules.

Monitor and review financial transactions.

Timely submission of PIB returns through EPRS.

Establish and monitor implementation of financial policies, procedures, systems, and controls.

Oversee financial aspects in internal audit and liaise with CO & MLRO as required

Deliver timely reports on Capital Resources, Risk-Capital Requirements, and liquid assets to the SEO and/or Board.

Coordinate with external auditors for their opinions on financial statements and agreed-up onprocedure report on PIB.

Why MS
for Outsourced Finance Officer in DIFC

As experts in this field, we seamlessly integrate into your team, ensuring thorough financial compliance, reporting, and risk management. From Dubai Financial Services Authority (DFSA) Prudential Investment Business (PIB) module adherence to timely submissions and capital adequacy reporting, we've got you covered. Maximize efficiency and minimize risk with our dedicated Financial Officers, allowing you to focus on your core business while we handle the financial details. Trust us to safeguard your financial stability and keep you ahead in the competitive landscape.

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Customer Support

+971 48357270 | [email protected]

+971 48357270
[email protected]

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Reach out to us for all your queries. Assuring you a best solution
from the most energetic team at MS.

Frequently Asked Questions (FAQ)

How can I benefit from outsourcing a finance officer services for DIFC ?

Outsourcing finance officer services in the DIFC offers benefits like accessing specialized expertise without full-time hiring costs, flexibility to scale services, improved efficiency through advanced systems, and better compliance with regulations. Overall, it streamlines operations, and enhances financial management.

When is it advisable to engage an outsourced finance officer in the DIFC ?

Engage an outsourced finance officer in the DIFC when you need specialized expertise without full-time hiring costs, face fluctuating workloads, or seek guidance on complex financial matters or regulatory compliance. It offers flexibility, cost-effectiveness, and expertise tailored to your needs.

How does finance officers aid in risk management of businesses in DIFC ?

Financial Officers oversee financial operations ensuring that financial institutions and companies in DIFC are conducting their financial activities legally and ethically. They advise on financial strategies to meet compliance requirements and optimize performance. By entrusting key responsibilities to experienced professionals, companies can concentrate on their core activities, minimizing the dangers linked to regulatory violations. This protects their reputation and financial stability in the competitive financial industry.

How can I initiate the process of utilizing your DIFC Finance Officer services ?

To begin, just visit our contact page and reach out to us. Our dedicated team will guide you through understanding your unique needs and kickstarting the onboarding process tailored to your requirements.

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