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Finance Manager - Treasury | Automotive International Finance | Al-Futtaim Group | Dubai

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Date: 15-Nov-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.

This role will report to the Head of M&A and Corporate Finance and will be based out of our offices at Dubai Festival City.

As a Finance Manager Treasury, your role will be to be a member of Cluster-3 finance team responsible for Automotive division’s overseas entities – to support the Automotive Business Units on the following:


(a) Cash flow forecast and liquidity management
(b) Forex exposure and managing the hedge process
(c) Managing funded & unfunded limits requirements and optimal utilisation
(d) Support central procurement models across Int’l entities and manage inter-company exposures
(e) Restructure the banking operations landscape
(f) Capital restructuring across business units
(g) Periodic treasury and liquidity reporting
(h) Ensuring day to day operating and accounting controls

 

Foreign Currency exposure:

 

  •  To support Head of department in assessing foreign currency exposure of business units on a continuous basis and ensuring compliance of organizations hedge Policy.
  •  Develop robust foreign exchange and treasury management tool for all overseas entities to ensure:
  •  Minimal exposure to adverse foreign exchange currency movements
  •  Minimal risk or the loss of any value in surplus funds
  •  Proper assessment of all financial institutions group companies deal with
  •  Effective and accurate cash flow forecasting including daily, monthly, quarterly and 12 months rolling basis and effective utilization of banking, other facilities and credit lines.
  •  Optimal management of all the inter-company funding and potential exposures

 

Cash flow and Liquidity Management:

 

  •  Responsible to review of cashflows results and forecast implement strong cashflows controls and early warning signals by continuous. This include implementing a robust reporting system to enhance the divisional visibility of entity level cash position and forecast variances.
  •  Devise strategies and support in-country CFOs to implement the Group’s strategy to move from a historical rest of the year cash flow forecasts to rolling 12 months forecasts
  •  Continuously monitor bank balances and optimise effective utilisation of funds across Cluster-3 entities and optimize the finance/funding costs.

 

Banking Operations:

  •  Review and restructure the banking & treasury operations across Cluster-3 entities including optimization of accounts structure, bank relations, etc.
  •  Devising and delivering the AFG’s treasury strategy together with the Head of department & in-country CFOs
  •  Maintain and build relationships with banks in the region as well as potential future regions jointly with Group teams
  •  Liquidity Management – ensure most efficient and cost effective cash management tools are implemented
  •  Responsible for all the Group’s or Divisional covenant related disclosures to the banks and insurers including plans to improve the metrics
  •  Manage macro-economic data to detect country and currencies exposures early on as well as determine the cash/banking landscape in future countries the company might enter into
  •  Development, periodic review and implementation of adequate treasury processes

 

Banking facilities:

 

  •  Review & restructure across Cluster-3 entities all bank & supplier finance facilities including funded/non-funded facilities, LCs, Bank/Corporate Guarantees, etc. and ensuring all entities are appropriately funded with desired debt : equity ratios.
  •  To support Head of department in Identifying and initiating fund based and non-fund based banking facility requirements for the business units with group treasury as per business plan and reviews
  • To ensure banking faculties of the Automotive Division Cluster-3 are optimally utilized, by minimizing cost of funding.

 

Central Procurement/Trade instruments - Business support:

 

  •  For all the central procurement trade financing, ensure timely opening of import letters of credit as per entities’ principal requirements and based on purchase plans of the business.
  •  Reviewing the supplier financing arrangement across Cluster-3 entities and ensure the benchmarking across the divisional entities.
  •  Responsible for the improvisation of Inter-company policy, exposures and related diligence

 

Capital Re-structuring:

 

  •  Support Head of department for capital restructuring across Cluster-3 entities that include financial forecasts modelling, desired gearing and debt : equity analysis, negotiation of financing deals/instruments through active involvement of Group Treasury/Legal and In-country CFOs.
  •  Supports the negotiation of financing deals, including cross-border structured financings, or other instruments in order to secure funds on terms and conditions that are advantageous to the Group.
  •  Improvise and roll-out EY financial modelling tool across Cluster-3 entities and develop best practices within the team in terms of developing and maintaining analytical tools to assess financing structures.
  •  Co-ordinate and consolidate regular cash, capital expenditure and financing cash flow forecasts at Cluster-3 level.

 

Others:

 

  •  Support Head of department and in-country CFOs to successfully roll-out the Group’s Treasury Management System across Cluster-3 entities.
  •  Produce regular treasury reports.

 

Minimum Qualifications and Knowledge: 


Professional accounting or finance qualification or equivalent


Minimum Experience:

 

  •  At least 10 years relevant experience within a large organization with minimum of  which 5 years in leadership role controlling treasury operations
  •  Highly numerate
  •  Excellent excel and financial modelling skills
  •  Previous experience in an automotive, banking, private equity or similar industry
  •  Good understanding of fleet financing principles desirable
  •  Responsible and conscientious individual
  •  Ability to work under pressure, to tight deadlines and deal with conflicting interests, both internally and with outside parties
  •  Strong analytical and inter-personal skills
  •  Motivated self- starter who can work under own initiative
  •  Excellent team player who enjoys working in an international and multi-cultural environment
  •  Arabic language skills desirable but not essential
  •  Flexibility to travel on frequently basis for extended period of time is a must

REF: AW

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