Al Futtaim Jobs - Assistant General Manager - Investments | Al-Futtaim Corporate | Dubai (Dubai, AE)

Job Requisition ID: 70421 

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, Marks & Spencer, 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.

 

 

Role - Assistant General Manager - Investments

Reporting to - General Manager & Group Director - CDU

 

ROLES & RESPONSIBILITIES

 

1. Investment Manager of Main Entity

 

• Preparation of Business Plan & any subsequent revisions there to for Board Approval
• Independently review and assess Annual and Quarterly Budgets and  provide recommendations for improvements to the Mall Manager
• Consolidation of Annual & Quarterly ENTITY Operations Budget and presentation of the Budget to VC- Al Futtaim & ENTITY Board for Approval
• Preparation and presentation of Annual Budget for Lenders
• Monitoring of Budget Vs Actual and reporting variances to ENTITY Board on a Quarterly basis.
• Preparation of Quarterly reports for the ENTITY Board. This report will cover Financials, Analysis of the mall performance, Key risks and challenges, Funding updates etc.
• Quarterly reporting to Lenders. This report would cover financial reporting and mall performance for each quarter.
• Reporting of all related party transactions to ENTITY Shareholders and Fund Investors for Approval/Notification.
• Monitor and manage the Mall manager in the exercise of their duties and report on their performance.
• Review and recommend all LAF’s after evaluating the type of tenant, location, budgeted rent, proposed rent, impact of proposed rent on immediate and the long-term cash flows, financial covenants etc.
• Evaluate the performance of Leasing on a regular basis and report issues/findings to GM ENTITY and Recommend steps for improvement.
• Review and recommend all leasing strategies including rental discounts, rent reliefs etc. present it to the ENTITY Board for their approval, if required.
• Monitor and evaluate the ‘Mall Debtor’s position’ on a regular basis and ensure that the leasing/collection teams are following up regularly with the tenants for payments.
• Support ENTITY is managing the process of risk assessment of tenants, including taking any legal action, if required.
• Procure, advice, review, evaluate and report on all independent valuations as needed by ENTITY Board or Lenders.
• Perform Asset Valuation for internal purposes. The valuation methodology used should be presented to the top management.
• Establish the insurance requirements of the project and recommend to ENTITY on appropriate Insurance Strategy
• Ensure that insurances are renewed on a yearly basis in a timely manner
• Manage the process of insurance claims processing and settlement
• Key member of the team in negotiating, evaluating, documenting and subsequent closing of the QAR 3.75 Bn refinancing of the ENTITY debt facility.
• Ensure that all information undertakings are provided to the Inter creditor Agent in a timely manner
• Ensure monthly transfer of amounts to various accounts as defined in the cash waterfall mechanism (as per the terms of the agreement)
• Manage cash flows to ensure Financial covenants are not breached and in the event of a potential breach, this should be highlighted to the management in advance.
• Maintain a robust Cash flow model to review the ‘Covenant testing’ and to identify any potential breach
• Train the ENTITY Finance team on all requirements of the MMA (Master Murabaha Agreement).
• Ensure compliance of corporate governance principles.
• Advise AGM – Finance (ENTITY) on all matters relating to Debt funding, operation of bank accounts, Finance, Shareholder matters, Corporate Governance, Board meetings & presentations, Mall performance evaluation , Budgets, Cash flow management etc.

 

2. Finance Manager (as per IM scope) of ENTITY

 

• Manage ENTITY’s finance team throughout the performance of the services
• Implement project control and reporting systems.
• Responsible for management and financial reporting to shareholders and lenders.
• Review of monthly, quarterly, half yearly and annual Financial Statements.
• Monitor and maintain cash flow position (treasury management) of ENTITY and make capital calls from the Fund & ENTITY Shareholders as and when required.
• Monitor, maintain and manage ENTITY cash flows such that loan covenants are not breached.
• Recommend all payments for approval.
• Advise ENTITY in selection and appointment of Auditors.
• Responsible to ensure that ENTITY’s financials are ready for audit.
• Manage and oversee ENTITY’s audit process.
• Responsible for all tax related matters.

 

3. Responsible for book keeping, reporting, audit and regulatory compliance of the following entities:

 

• Al Futtaim Real Estate Services LLC
• Al Futtaim MENA Real Estate Holdings (REH) (Cayman islands)
• Al Futtaim MENA Real Estate Development Fund L.P (Cayman Islands)
• Al Futtaim MENA Real Estate Shari’a Development Fund L.P (Cayman Islands)

 

4. Other projects (New real estate opportunities for acquisition, JV etc.) – Assist the GM – Investments in

 

• Evaluation of new investments opportunities/proposals
• Key team member in the overall concept development
• Lead financial due diligence and co-ordinate with other teams for all other buy-side/sell-side due diligences
• Lead Market Study/Analysis with the support of specialist consultants
• Developing project feasibility models and performing Sensitivity Analysis in association with development and corporate finance teams.
• Preparing and presenting the Business Plan and any subsequent revisions thereto for Board/Investment Committee Approval.
• Manage all asset and project financing requirement (in association with corporate finance and group treasury) in accordance with the approved Business Plan. This includes structuring and negotiating terms with the lenders and reviewing of financing documents, as necessary, for final closing.
• Manage project budgets and cash flows during the project development phase
• Monitoring Investment’s performance and budget spend against the approved Business Plan and reporting variances.
• Monitor and report the asset performance during operations stage and work with the operations team in improving the operational efficiency thereby creating value to the shareholders/Investors.

 

 

 

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