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Finance Manager - Residential

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Date: 22-Jan-2018

Location: Dubai, AE

Company: Al Futtaim Private Company LLC

No two days are the same at Al-Futtaim, no matter what role you have. Our work is driven by the desire to make a difference and to have a meaningful impact with the goal of enriching everyday lives. Take our engaging and supportive work environment and couple it with a company culture that recognises and rewards quality performance, and what do you get? The chance to push the limits every single day.


As a humble family business that started on the banks of the Dubai Creek in the 1930s, Al-Futtaim has expanded to a presence in 31 countries, a portfolio of over 200 companies, and 42,000 employees. You’ll find us in industries ranging from automotive and retail, to finance and real estate, and connecting people with international names like Lexus, Ikea, Robinsons, and Adidas. Our team is proudly multicultural and multinational because that kind of diverse representation gives us the global mindset to grow and impact the people, markets, and trends around us.


Come join us to live well, work better, and be the best.

Job Title:             Finance Manager, Business Decision Support - Residential

Reports to:          Financial Controller, Business Decision Support - Residential & Commercial

Direct Reports:   2

Department:        AFGRE - Finance

Location:             Dubai, UAE


Job Purpose:

To manage and control various financial and accounting systems and procedures of the company in accordance with the internationally accepted standard, and monitor its internal control to ensure financial stability and maintain complete transparency and accuracy in the system.


Financial Dimensions:

Manage the accounting, controlling, reporting, budgeting and forecasting of the residential portfolio in DFC.




  • To provide support to internal customers: Primary interface between Residential sales team, Finance team, Shared Services Finance, Group Finance, Internal and External Audit, and internal management in managing residential finance operations and financial reporting.


Key Responsibilities:

  • Manage the completion of the accounting cycle for residential portfolio including month end closing, management and financial reports, and business reviews.
  • Ensure accuracy of sales and leasing contracts conditions and information created in the system in accordance with the supporting documents and timely activation of the contracts.
  • Ensure compliance of all financial documents and proper recognition of related expenses and costs.
  • Ensure production of accurate and timely management and financial reports as per the deadlines.
  • Review and Verification of leasing and sales documents including but not limited to Lease Approval Forms, Lease Agreements, Sales Approval Forms, Reservation Agreements, Sales and Purchase Agreements, Statements of Accounts, Service Charge Statements, Business Case Proposals, Requests for Approvals, Tender summary Reports, Budget Details, etc,.
  • Manage the process of completing the business plan, annual budgets, quarterly forecasts, and monthly reporting as per the agreed assumptions and deadlines.
  • Manage the process of preparation of various ad-hoc reports as required by the management and assisting the investment team in preparing sales plans rollouts, cash flow, and projects feasibilities.
  • Regular review of Balance Sheet accounts including GR/IR account, Vendor accounts, customer accounts and ensure that all the balances are supported by proper schedule.
  • Manage the process of intercompany settlements and ensure that balances are settled in a timely manner.
  • Lead the coordination with the Owners Association Manager in facilitating the computation of service charge.
  • Support in the management of Owners Association and in the preparation and audit of books of accounts of the OA.
  • Support the process of setting up of Escrow accounting and recognition of the costs and revenue on the basis of Percentage Completion Method.
  • Manage the process of coordination with the various departments with regards to Internal and External Audit.
  • Assist the Financial Controller in leading the Business Support team, setting the strategy of operations, and continuously contribute to improvement projects.
  • Represent the Finance team in all management meetings including, but not limited to, budget and forecasts, project committee groups, business reviews, debtors reviews, finance management, audit planning, treasury reviews, etc,.
  • Contribute to the various initiatives of process development & mapping, system automations and policies drafting and implementation.
  • Effectively manage the residential finance team by ensuring setting & review of objectives, providing necessary feedback, developing training plans and opportunities




Minimum Qualifications and Knowledge:

  • Post-graduate degree in commerce / accounting / finance. Knowledge of management reporting and accounting systems is necessary.
  • Knowledge of ERP Financial Software is necessary; SAP expertise will be preferred.
  • Real Estate related Certification from Dubai Real Estate Institute. (Real Estate Diploma, or Certification in Professional Owners Association Management), is preferred.


Minimum Experience:

  • Minimum of 8 years of experience in the field of Finance and Accounting, out of which a minimum of 4 years in the Real Estate industry at a financial management position.
  • Experience in Real Estate / Construction / Project Management industries will be preferred.


Job-Specific Skills:

  • Well-versed in IAS / IFRS.
  • Well-versed in preparation of Financial Statements.
  • Knowledge of Dubai Real Estate Laws, Guidelines, and directives is a desired skill.


Behavioral Competencies:

  • A person of integrity with good interpersonal & time-management skills, adaptive, self-motivated, ability to multi-task.


We’re here to provide excellent service but a little help from you can ensure a five-star candidate experience from start to finish.


Before you click “apply”: Please read the job description carefully to ensure you can confidently demonstrate why this opportunity is right for you and take the time to put together a well-crafted and personalised CV to further boost your visibility. Our global Talent Acquisition team members are all assigned to specific businesses to ensure that we make the best matches between talent and opportunities. We not only consider the requisite compatibility of skills and behaviours, but also how candidates align with our Values of Respect, Integrity, Collaboration, and Excellence.


As part of our candidate experience promise, we also want to make ourselves available to you throughout the application process. We make every effort to review and respond to every application.