Job closed
Ref: HP698-9706
Job description / Role
Al-Futtaim is regarded as a pioneer in the Gulf region's Automotive industry and encompasses every aspect of the Automotive business; from passenger and commercial vehicles and construction equipment sales and service, to used car sales and rental and leasing.
A comprehensive network of showrooms and service centres covers the UAE and Gulf region providing customers with convenience, choice and the highest standards of after sales service. Al-Futtaim represents some of the world's most popular and desirable automotive brands including; Toyota, Lexus, Hino, Honda, Volvo, Chrysler, Jeep and Dodge.
Today, Al-Futtaim Motors is synonymous with Toyota and Lexus, which enjoys undisputed leadership in the UAE in terms of the largest number of vehicles on the road. Besides Toyota, AF Motors also holds exclusive franchises for some of the world's top automobiles and automotive products like Hino - Japan's leading heavy-duty vehicle manufacturer, Toyo & Chen shin/ Maxxis tyres, GS & Panasonic batteries and many more.
To provide full back-up support to these world-class franchises, AF Motors have an established network of showrooms and service & parts centres throughout the UAE.The focus of this role will be to develop the financial management of the leasing & rental operation to ensure the business has the necessary support, direction & controls to meet current & future demands.
Reports to:GM Finance
The primary responsibilities of this will include the following:
Management Information Systems
* Develop suitable business MIS to encapsulate all the key performance indicators, financial, commercial & operational.
Credit Management & Cash Collection
* Oversee the strategy & performance of the invoicing & credit control functions, ensuring active collection techniques & minimal bad debt exposure.
Finance Staff Development
* Identify & develop key individuals within the finance/BPM arena through mentoring & specific skills training.
Fleet Administration Management
* Manage the data integrity of UAE government-interface requirements to ensure adherence & cost recovery where applicable.
Financial & Budgetary Controls
* Promote sound financial husbandry throughout the business unit via the budgeting & forecast programmes, day to day issues, all matters relating to DOA.
Performance Indicators
* Adoption of all centralised MIS, minimising the amount of ad-hoc reporting.
* Cash collection targets are met & bad debt write-offs are minimised.
* Create a succession plan for each finance/BPM function, with key personnel provided with PDP.
* Timely recovery of salik charges & traffic fines. Zero penalties for DP data quality
* Detailed budgets & forecasts created timely with sufficient detail.
* Be the point of reference for all DOA & expenditure authorisation matters with the business unit.
Key factors impacting the role of Finance Manager:
* Capital funding is a finite resource within the group, so it is imperative that the business operates their assets to their fullest potential, balancing operational requirements with financial restraints.
* Debt collection is challenging in a market where our biggest customers are governmental departments & construction companies, who have all been severely impacted by the economic downturn.
* The target of profit growth comes at a time when the UAE population is stagnating, coupled with a downturn in leisure travel, both of which has led to the need to diversify into new products & markets.
* The reporting lines of this role can be blurred due to the large element of operational responsibility in conjunction with the financial control & guidance responsibilities.
* The current leasing IT platform does not lend itself to the accepted methodology of lease accounting.
Requirements
The selected candidate will have the following qualifications, skills and attributes:
Minimum Qualifications and Knowledge: Internationally-Accredited Professional Accountancy Qualification or MBA in Business Administration.
Minimum Experience: 10 years in finance, with minimum 3 years' experience of vehicle fleet operations.
Job-Specific Skills: Numeracy, Analytical skills, Positive leadership, Team-builder, Commercial awareness.
Behavioural Competencies : Target focused, Persuasive, Strategic minded, Reliable, Innovative
About the Company
Established in the 1930's, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940's and 50's saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt.
The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Groups continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery.
The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Groups belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility.