Job closed
Ref: HP698-9376
Job description / Role
About Al-Futtaim Group Real Estate (AFGRE)
Al-Futtaim Group Real Estate (AFGRE) is the real estate development and operations arm of Al-Futtaim group which is headquartered in Dubai. AFGRE is responsible for the origination, conception, development, procurement and construction of mega projects and the leasing, sales and operation of these projects after completion.
In addition, AFGRE develops and operates an extensive multi-million dollar portfolio of individual corporate real estate and investment assets across the MENA region.
The two current flagship mixed use urban communities under the Festival City brand are the award winning, Dubai Festival City (5.2 million square metres) and Cairo Festival City (3 million square metres).
About Dubai Festival City Dubai Festival City is an Al-Futtaim Group Real Estate development project which covers 5.2 million sq m and stretches 3 kilometres along the historic Dubai Creek that optimizes the thriving and visionary spirit of Dubai.
Dubai Festival City is an established creek side, mixed use destination and premier waterfront community interconnecting finest residential, shopping, dining, leisure & entertainment, international hotels, schools, golf course, automotive park and offices. It is formed into three distinct districts and connected by a 30 kilometers internal road network and creek side promenade. This existing community offers freehold villas and apartments for sale and lease which combine traditional and contemporary architecture. Upon completion, the community will be home to 50,000 residents living in 20,000 villas and apartments, and ideal place to work for 50,000 office staff.
Dubai Festival City has recently won 3 top recognitions at The Arabian Property Awards 2010, in the categories of Best Mixed Use Development for Dubai Festival City, Best Residential Development for Al Badia Hillside Village, Dubai Festival City and Best Retail Development for Festival Centre, Dubai Festival City.We are looking to recruit a qualified Senior Accountant - (Commercial) to manage and control various financial and accounting systems and procedures of the company in accordance with the internationally accepted standard, and monitor its internal control to ensure financial stability and maintain complete transparency and accuracy in the system. Moreover your job responsibilities will be including:
Customers:
To provide support to internal customers: Commercial business team, FM, District Cooling & Infrastructure company in relation to financial reporting, budgeting and forecasting through effective communication in order to meet the business needs and contribute to improving current processes.
Key Responsibilities:
* Responsible for complete accounting cycle for assigned Commercial portfolio companies. (Revenue, Expense, Closing & Reporting).
* Ensure posting run is complete for all rental contracts in a timely manner and cumulative monthly provision is revised as required. Review of monthly rent rolls to accurately calculate monthly negative provisions or income accruals.
* Verification of LPO's, coding and posting of approved expenses as per budget in respective GL Accounts, cost centres and ensure approval per DOA for Opex & Capex.
* Ensure approved payments are released per agreed payment terms and all supporting documents are in compliance with Company Policies & Procedures and approved as per DOA, including timely settlement of ICM creditors and debtors.
* Ensure GRN's are assigned to LPO's on a monthly basis against completed works & services and cumulative monthly provision is revised as required.
* Liaise with consolidation team and provide the cash flow inputs for weekly and monthly forecasts.
* Assist Finance Manager in preparing and coordinating with the respective business to complete the budget and forecast exercise on quarterly and annual basis.
* Prepare monthly and adhoc management reports for Commercial, Infra & and district cooling and coordinate detailed commentary for monthly business reviews.
* Ensure District cooling billing and Infra levy recovery charges are posted in SAP and its recovery in coordination with CCD.
* Ensure Balance sheet reconciliation is conducted on a quarterly basis and items required further analysis to be highlighted and device plans to reconcile.
* Ensure accuracy of data/compliance to DOA/budget on various lease documents processed through Finance department and coordinate with Leasing team.
Requirements
As a Senior Accountant - (Commercial) , you must demonstrate the following Qualifications, Skills & Experiences:
Minimum Qualifications and Knowledge:
* Post-graduate degree in commerce / accounting / finance with knowledge of Financial Management and Accounting Systems is necessary.
* Advanced knowledge of ERP Financial Software is necessary; SAP expertise will be preferred.
Minimum Experience:
* 5-7 years of relevant experience working in diverse teams; real estate construction / projects environment experience will be preferred.
Job-Specific Skills:
* Well-versed in IAS / IFRS.
Behavioural Competencies :
* Ability to manage time appropriately, communicate effectively with team members and business and supervise.
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.