Al Futtaim Jobs - Head of Finance - Retail | Al-Futtaim | Dubai (Dubai, AE)

Job Requisition ID: 47793 

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: Head of Finance   

Division and Company: Retail

Reports to Job Title and Level: Managing Director

 

ROLE PURPOSE:

To lead all strategic and tactical matters for the Finance function and in addition provide direct, proactive analytical support to key functional teams where required. To develop strategies affecting all areas of the business with specific emphasis on maximizing sustainable business profitability and minimizing risk. To establish, sustain and develop a Financial Control community that provides timely and accurate reporting of business performance, analysis of business drivers and opportunities and support the overall strategy across the Division, driving efficiency and flexibility.

 

ACCOUNTABILITIES:

PLANNING

• Plan, direct, monitor and analyse the preparation of Strategic Plans, Budgets and (rolling) forecasts
• Ensure preparation of cohesive and coordinated presentations in regard to the above.
• Work closely with the General Manager to effectively support the financial needs. Develop planning processes and tools across the business
• Ensure smooth coordination of financial reporting and analysis
• Be a proactive driver of continuous improvement

ANALYSIS           

• Ensure timely preparation of periodic reports explaining business performance, target management opportunities
• Cash and funding forecasting by business unit and legal entity
• Lead Investment review process, coordination of approvals and periodic assessments of post-investment performance
• Identify priority needs for the business in regard to ongoing or ad hoc leadership or support in terms of analysis and performance insights
• Develop and enhance performance dashboards and methods of delivery that support a nimble business

STRATEGIC, BUDGET AND FORECASTED PLANNING

• Lead the coordination and financial input and challenge to the strategic plans for the market, Budgets and (rolling) Forecasts
• Coordinate and manage contingency planning in order to secure delivery of key targets
• Proactively engage with all business units to ensure all such plans are fully coordinated and synchronized

FINANCIAL MANAGEMENT

• Direct and monitor the preparation of relevant management accounts and reports on an accurate, efficient and timely basis
• Uniform Accounting and reporting standards across. Ensure timely and accurate preparation of monthly management and statutory accounts in full compliance of group accounting policies and IFRS.
• To supervise HO Budgeting, forecast and monthly book closing
• Ensure preparation of statutory accounts in accordance with IFRS, group policy, and the statutory requirement of each country within which the business operates.
• Develop financial policies and report formats specific to the retail businesses (e.g. markdown accounting, shrinkage)
• Be a proactive driver of continuous improvement

TREASURY MANAGEMENT

• Ensure availability of funds from banks and group treasury at optimal pricing levels in all geographies.
• Actively work on recapitalization of all business so as to reduce borrowing where possible.
• Manage the banking protocols and requirements. The business deals with various international / local banks and credit card operators across the territory. Develop and review hedging strategies for currency exposure of the various brands.
• Monitor cashflows and analysis and ensure balance sheet projections and cashflow forecasts have integrity

TAXATION

• To monitor & coordinate with Brands, Tax consultants on periodic compliance on Tax matters
• Ensure the business is proactively aware of both indirect and direct tax impacts and plan accordingly
• Ensure full compliance with all VAT and other direct or indirect taxes, in consultation KSA Country Management and Group Tax
• Oversee and ensure adequate support is extended to Consultant during Tax assessment

COMMERCIAL FINANCE

• Ensure the development and timely preparation of relevant business information to provide management with tools for effective commercial and investment decision making.
• Ensure approvals for such actions are acquired in line with delegated authorization
• Proactively assess such decisions once executed

HUMAN RESOURCES DEVELOPMENT

• Ensures that the Finance team is adequately motivated and professionally trained to deliver high quality output to all areas of the business. Provides input to development of the Retail Finance structure.

 

JOB CONTEXT:

The job holder has a key management position within the business and influences business policy.

Establish a proactive community dynamic within Finance of financial control and expertise, providing structured and unstructured training, guidance and coaching as required

Maintains strong relationship with statutory auditors, tax advisers, group finance, legal, etc.to ensure a well-coordinated retail business operation at all times gaining a deep understanding of the interdependencies of business performance and how these can be enhanced.

To ensure we have a streamlined legal structure in KSA. Continuously work with group legal, treasury and tax teams to put in place a most appropriate legal infrastructure to allow for proper governance in all geographies

 

QUALIFICATIONS, EXPERIENCE, & SKILLS:

Minimum Experience: 15-20 years’ experience with at least 5 years in a senior management position in a large organization. Retail experience preferred.

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.

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