Finance Manager

Job description / Role

About the company

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions: automotive, financial services, real estate, retail, and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia, and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand, responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration, and integrity, Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.

Overview of the role

The Finance Manager ensures compliance with accounting standards for Accounts Receivable, oversees the accuracy of revenue, debt provision, and billing entries, and coordinates with the shared services team for posting. The role involves monitoring Accounts Receivable balances, identifying discrepancies, reporting exceptions, and managing security deposit deviations, refunds, credit balances, and unit sale handovers.

What you will do

• Review periodic invoicing and revised billing to CFC clients and tenants related to rent and service charge.
• Review the monthly utilities invoicing to CFC clients and tenants.
• Review tenants’ sales against the audit certificates and calculate turnover.
• Review property tax against property tax report and send to shared service team to book the property tax.
• Prepare all revenue accruals.
• Approve units’ clearance for unit sales handover and reconcile actual handed over units versus actual recognized revenue.
• Reconcile lease contracts versus recognized revenue.
• Prepare and calculate post-dated cheques net present value (NPV) and related journal entries to be sent to shared service team for recording.
• Review system workflows (new leases, renewals, amendments, and terminations) and send comments to Financial Controller.
• Manage internal auditors and external auditors.
• Prepare and review on a monthly basis the aging report, legal and critical cases’ provision for bad debt.
• Review intermediate accounts (i.e., tenant deposits, other debtor, unearned income, security deposit) for any required adjustments or booking.
• Respond to line manager’s special assignments.
• Respond to business and other departments' queries and requests for invoices, proforma invoices, and e-invoices.
• Follow up, highlight, and provide prompt solutions for any billing issues related to both ERP system and tax portal for uploading e-invoices.
• Conduct weekly, month-end, quarter-end, and year-end meetings with shared service order to cash team to review closing tasks and ensure maintenance of monthly, quarter, and year-end closing group and local deadlines.

Required skills to be successful

• Minimum 6+ years of experience in Accounts Receivable across diverse industries.
• Experience providing finance support to business operation functions coupled with strong analytical, problem solving, and excellent communication skills.
• Experience of dealing with all stakeholders (i.e., shared service, operations team, and internal audit).

What equips you for the role

• Bachelor's degree in commerce or business administration.
• Preferably have ERP (preferably YARDI) system experience.
• Strong experience in applying the Egyptian accounting standards.

About Al-Futtaim Group Real Estate

The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational, and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement, and construction of mega-projects and the leasing, operation, and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years.

Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services, and enable partnerships to create true value to our customers throughout their entire experience with us.

AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed-use destinations: Dubai Festival City and Cairo Festival City.