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Financial Controller | Al-Futtaim Auto Finance | Dubai, UAE

Date: 20-Aug-2019

Location: Dubai, AE

Company: Al Futtaim Private Company LLC

Job Requisition ID: 38673 

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 Description:

To develop the financial management of Business Units to ensure the business has the necessary support,
direction & controls to meet current & future demands. Key outlines for this role will be:
(a) Performance Management
(b) Budgeting & Forecasts
(c) Business Support
(d) Inventory Management
(e) Credit & Receivables Management
(f) Taxation & Related Planning
(g) Financial Governance
(h) Pricing & Costs Controls
(i) Operational Governance



Key Responsibilities:


Performance Management:
1.To review and ensure the timely submission of Flash, monthly
    financial results, forecasts & budgets for all the delegated
2. Ensure the availability at activity (units, parts, service & lease),
    brands & location profitability and performance results.
    Conduct monthly performance reviews with In-Country CFO and
    management team and ensure the Good/Bad reports are prepared,
     discussed and taken up for further actions.
3. Advise the in-country managerial leadership on the development of
    the BU’s long-term financial strategy and supporting finance
    policies. Lead the regular review and revision of the strategy, taking
    account of complex factors and relationships including financial
    constraints, new legislation and financial reporting requirements.
4. To establish, present and implement the divisional benchmarks &
    KPIs in all the overseas entities and support commercial finance
    vertical in effective analysis during the review process.


Budgeting & Forecasts:
1.Provide strategic financial advice to the BU’s CFO and Management
   and Leadership Team to support the BU’s annual business planning
   and budget setting and for budget management and monitoring.
2. Support to the overseas companies in completion and presenting
     their budgets and forecasts in time as per divisional calendar &
3. Support to In-Country CFOs to develop the business and brand
    strategy and implement effective monitoring tools to track the
    progress against the committed targets.
4. Develop and implement effective mechanism and control
    environment where any deviation from budgeted results are
    highlighted and actioned on time.
5.Responsible to implement the effective forecast and budgeting tools
   including EY model to ensure the forecasts are robust and based on
   reliable assumptions.
6.Support in-country CFO and the Finance team, ensuring that it is
   focused on supporting the Business units to deliver its committed
   Business Plan and associated strategies and plans.


Business Support:
1.Provide effective analysis on strategic initiatives including the
   network optimization, business consolidations, brand
   establishments, etc. and guide business to successfully execute
   these initiatives. Track and monitor the outcomes.
2.Analyse CAPEX for the business and ensure that capex stays within
   Budgeted targets. Provide analysis on periodic basis showing
   variances against Budget and latest forecast. Ensure that capex is
   re-forecasted frequently and provide analysis against previous
   forecast and Budget.
3.Review Planned Capital Expenditures (AFEs). Assist overseas
   companies in obtaining required approvals and implement
   monitoring mechanism.
4.Delivery cost optimization plan jointly with in-country CFOs by
   development and implementing company wise operational initiatives
   with clear responsibilities, timelines and financial impacts.
5.To develop robust P&L and B/S reporting and analysis. To provide
   automotive leadership with timely insight into operational
   performance, advice on variances, trends and corrective action to
   be taken.
6.Design, review / implement a Dividend Policy to ensure that the
   funds are efficiently managed with least cost impact (Taxation).
7.Design, review / implement a Dividend Policy to ensure that the
   funds are efficiently repatriated to holding Co. with least cost impact.


Inventory Management:
1.Implement and manage an efficient and effective stock order
   processes using appropriate and best practice SSOP controls and
   planning tools to provide necessary support in ensuring the incountry
   executive management is aligned and underlying risks and
   controls have been highlighted and controls addressed.
2. Measuring and monitoring:
    o Forecasting accuracy
    o Stock
    o Stock redundancy and clearance plans
3. Principal relationship management and collaborations
    o Attend monthly SSOP meetings to:
    o Ensure all procedures have been followed and all relevant
        documentation is available to facilitate proper decision making
    o Approve/Recommend orders for the month
4. Take a lead role in the preparation and submission of applications
    for funding including principal finance, ensuring that appropriate
    financial records are maintained and leading on the monitoring and
    preparation of reports to the funding organisation.


Credit & Receivables Management:
1. Oversee the strategy & performance of the invoicing & credit control

    functions, ensuring active collection techniques & minimal bad debt
2. Implement and manage effective and efficient credit management
    processes and policies to get the right balance between credit sales
    and debtors exposure risks.

3. Implement and manage appropriate and best practice collection
    techniques and strategies to minimize:
4. Debtor days in excess of the agreed credit terms
5. Bad debt write offs
6. Attend weekly/monthly credit approval and collection meetings to:
7. Ensure all procedures have been followed and all relevant
    documentation is available to facilitate proper decision making
8. Approve/recommend credit decisions and collection initiatives,
    write-offs, provisions, and other decisions etc.


1.To oversee and ensure effective tax planning and cross border
   transaction exposures across the delegated companies. This
   include design and roll-out of effective tax planning calendar and
   related reporting.
2. To support overseas entities in effective tax planning and
   compliance including income tax, Zakat, Sales & VAT taxes, custom
   duties & excise governances with related regulatory compliance
   controls, reviews and exposure reporting.
3. Lead and manage all projects to comply with changes to new tax
   laws & regulations implementations e.g. VAT. This includes the
   readiness assessments, user guidelines, change management,
   system changes and related controls and governance.


Pricing & Costing:
1. Develop, implement and review effective costing and financial
    controls covering full procure to pay and order to cash cycles.
2. Provide clear guidance, support, leadership and where required
    change management in the execution of the different pricing
    processes in achieving the different brands short term objectives
    and longer term strategy.
3. Creatively identify and execute with in-country CFOs on margin
    improvement projects to improve profitability.


Operational Governance:
1. Promote sound financial husbandry throughout the business unit via
   the budgeting & forecast programmes, day to day issues, all matters
   relating to DOA.
2.Support on the preparation, monitoring, reporting and audit of the
   financial records, budgets, accounts and returns of the Business
   units, to the highest professional standards and to meet statutory
   requirements and full internal and external scrutiny.
3. Advise on a range of complex financial & regulatory issues, policies
   and interpretations in relation to the Business Units.
4. Liaise with in-country CFOs and divisional CoE (Centre of
   Excellence) team to ensure compliance with DOA. This include
   review, modify and ensure internal policies are in compliance with
   Group Policies & Procedures.
5. Lead with country’s management team to ensure the internal audit
   reports are responded and implemented on time.


Qualifications, Experience & Skills:


Minimum Qualifications and Knowledge:
MBA, B. Comm, CA, CPA, CGA or equivalent degree
Minimum Experience:
1. 4-5 years’ post-graduation experience of which at least 2 years in automotive industry is preferred
2. 2 years’ International experience in desired
3. Flexibility to travel on frequently basis for extended period of time is a must


Job-Specific Skills:
1. Numeracy, Analytical skills, Positive leadership, Team-builder, Commercial awareness, Culturally astute personality.


Behavioural Competencies:
1.Innovative thinking
2. Change & Project Management
3. Customer focus
4. Strong decision making and problem solving abilities
5. Strong Customer Relationship building capability





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