Al Futtaim Jobs - GM - Business Planning & Analysis | Al-Futtaim Retail | Dubai (Dubai, AE)

Job Requisition ID: 59601 

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.

Overview

 

The GM – Finance is responsible for maximising shareholder wealth through short term and long- term growth plans whilst maintaining financials according to IFRS. The incumbent will support the Retail Division in setting business objectives and achieving targeted plans across the MENA & SEA region through responsibility for the flow of financial management information, scoping of financial risks as well as developing proposals on mitigation of financial risks. In addition, they will provide strong leadership and delivers a clear vision in managing the finance function, business planning, accounting and budgeting process of the countries across MENA & SEA. 

 

Responsibilities

 

Financial Management, Accounting & Reporting

• With an overall appreciation of the accounting requirements, systems and procedures involved, the job holder exercises effective controls and ensures that the company's financial accounting function operates to the highest standard. He/she is responsible for the timely completion of the management reports and audit of annual accounts for the countries.  
• Delivery of MIS Reports as per Retail and Group Formats on time
• Maintaining books of Account and delivery of financials reports of the business based on IFRS on time
• Business Plan, Expansion and Long-Term Plan

 

Business Plan, Expansion and Long-Term Plan

• The jobholder supports Retail Division actively in the preparation and submission of Annual Business Plan including periodic business reviews as per group guidelines and set business objectives.
• The job holder delivers the new store feasibilities including new country feasibilities, relocation, modernization plans measuring on the viability based on RPF, IRR, Payback to AF Group and Principals
• Delivers the long-term plan (3 to 5 years) of the business with input from function heads and works with the retail division in preparation of new country plans
• Delivery of Business Plan/ Periodic reviews and KPIs as per Retail and Group Formats on time
• Obtaining approvals on time from Group on new projects/countries including necessary approvals
• Submission of LTP on time to Retail and Group management

 

Commercial Management

• The jobholder reviews and analyses variance against budget and business objectives. He/she provides commercial interpretation of financial data and where appropriate suggests and implements remedial action. Potential threats and opportunities are highlighted in a timely manner.
• The jobholder actively contributes in the formulation of company's commercial practice in increasing profit growth through Sales, reduction of loss, increasing margin, reducing cost of reduction and other costs to the business.
• The Job Holder should actively involve in highlighting the financial implications of proposal under consideration e.g; New channel operation, new business models including additional /downsizing business Provide variance analysis with commercial interpretation and run business simulation models on threat and opportunities
• Delivery of targeted profit and KPI’s of margin %, cost of reduction and SG&A % to Sales
• Run business case studies to meet the management criteria on selection of projects

 

 

Treasury and Risk Management

• The jobholder implements an effective system of fund management that ensures optimum utilisation of the available funds and monitor the capital requirement including working capital particularly in relation to inventories and borrowings
• Job Holder manages the forex requirement and arranges on time to mitigate the risks        
• Sufficient funds are arranged and manage working capital to maintain inventory cover and delivery of Free cash flow
• Forex cover/currency is sourced and secured on time

 

System Development

• The job holder constantly liaises with EIT on new and existing IT systems including SAP, Store POS etc to identify potential areas for improvement and drive efficiency
• The job holder supports the division on the Retail Road map and automation initiatives     
• Drive efficiency thru optimisation of system to the desired level.
• Develop and deliver the KPI’s on efficiency %

 

Supply Chain and Logistics

• The job holder constantly monitors supply chain and logistics costs to the benefit of business
• The job holder supports RETAIL DIVISION and the Head of Logistics on cost reduction initiatives on supply chain and logistics process           
• Cost per single is less than or equal to budgeted rates.
• Savings in new initiative be justified thru cost reduction

 

People

• Work with Head of HR to deliver targeted people solutions to create employee engagement, compliance to HR Policies and local legislation
• Work with Head of HR and other Leadership members in order to deliver and manage the integration plans for the newly acquired markets like Hong Kong and KSA.
• Works with Head of HR in order to establish the right structure and Finance operating model for the SEA countries in line with the business vertical and Country RACI matrix.
• Set up succession for Finance team to sustain continuity and development
• Maintain a training and development program with HR to ensure the Finance Team have relevant training in place from induction to up skilling training.
• Role model Al-Futtaim Way behaviours as a senior manager
• Talent Reviews and Succession Plans
• L&D proposal and calendar
• Performance culture
• Emiratization and localization
• Talent Acquisition

 

Corporate and Brand

• Promote Brand and Corporate Values throughout the Finance Team and the ways of working with retail, stores, warehouses and depending functions within Al Futtaim.
• Regularly and proactively communicates with RETAIL to establish and maintain a good working relationship and partnership.
• Work with retail to resolve issues and deliver opportunities for driving current and future commercial targets.
• Partnership approach with retail with a focus on franchisee P&L

 

Business Growth /New Markets

• Managing new acquisitions, post-acquisition integrations and new market entries as well as store opening projects with retail division and RETAIL provided resources. Ensuring compliance to legislation prior to operations starting in each store and country.      
• M&A Integration plans, TSA and SAs & Compliance with legislation

 

The Candidate

 

The selected candidate has to continually make critical strategic and tactical decisions on maximizing opportunities for growth and risk management; to deal with unexpected trading situations (economical changes, effects on new pricing policies, fluctuations in currency and trading terms which affect profitability). To negotiate successfully and ensure the best possible support for the Al Futtaim franchise to deliver the Budget.

 

We are looking for someone who can act with a sense of urgency and alertness to developments in the different markets to ensure opportunities are addressed and risks are minimized alongside providing clear financial direction to the management through analyzing sales, profit, gross margin, markdown, stock cover, operating and fixed expenses to identify and manage financial risks.

 

The candidate will be exposed to senior management of retail division, corporate as well as government officials. This exposure will require high level of diplomacy to maintain positive relations with different stakeholders. Finally, we are looking for someone to have a thorough and continual understanding of the different markets within franchise and of global/local economic and market trends; and to ensure that local laws, regulations and culture are respected with regard to products, pricing, promotion policies and décor.

 

Education:

• Professional Degree in Finance, Chartered Accountant, ACCA, ACMA or MBA Finance
• Motivated and can deliver Financial Budget and Key Performance Indicators
• Deep understanding of financial acumen
• Experience with, and passion for retail business
• Understanding of commercial and operational aspects of Retail Business

 

Minimum Experience and Knowledge: 

• +15 years of experience of which 5 years should be at senior management level preferably with international exposure.

 

Al Futtaim behaviours should be exhibited at all levels

• Customer Focus
• Individual Accountability
• Continuous Improvement
• Personal Leadership
• Teamwork

 

Key Skills;

• Strong Numeracy, Analytical Skills, Communication and Influencing, Sensitivity, Diplomacy Organization and Planning, Risk Management, Managing Ambiguity, Decision Making, Collaboration and Presentation Skills
• M&A and post-acquisition integration experience is highly valued with concentration on organizational structuring and process development.

 

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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