Finance Business Partner

Job description / Role

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:

As a member of Branch team - to support the dealership operation (Sales and After sales) - on (a) decision support for budgeting / forecasting/ MIS and KPI achievement (b) ensure compliance with company policies and procedures with major emphasis on - cash control, sales accounting and approvals credit controls & approvals, stock controls, audit report follow-up and (c) day to day internal controls review and improvement.

What you will do:

Financial Performance Review & Commercial Support to Branch Management
- Perform regular Branch level (Sales & Aftersales) Financial reviews and variance analysis with Branch Management (DP) for all responsible branches and thus ensuring that branch performance is in line with relevant budgets/Forecasts
- Support Branch Management (DP) in review of KPI trends (Sales & Aftersales), suggest improvement plans and prepare reports/analysis for monthly Branch reviews to be held with Director Retail & BUFM.
- Regularly monitor and control Branch indirect costs (Facility Maintenance, casual labours, utilities, data processing, stationery, cafeteria etc)
- Supporting Branch Management in synergising process and costs between sales, aftersales and other brands within the same site
- Check and ensure that all Branch POs are created, and GRs completed within the relevant months and adequate provisions are booked before close of month to reflect right profitability.
- Validating CAPEX cost requirements at branches and ensuring that these are within budgeted levels.

Forecast and Budget Support
- Support branch management by validating Weekly Forecasts (Sales & Aftersales) submitted to HO
- Supporting FM & GM with Preparation of site wise Quarterly Forecasts, Annual Budgets and upload into SAP

Sales Accounting and cash control
- Oversee via the Branch Accountants and Accounts Assistants to ensure all documentation is complete as per company procedures for all Finance / Cash / Credit / Inter and Intra company deals for Sales & Aftersales.
- Ensure through branch Finance team the release of VCC, Sale letter & Gate passes (Sales & Aftersales) are in line with company procedures.
- Validation through test checks of Sales document pack /LPO and credit approval or clear funds/ registration copy and delivery to ensure process compliance.
- Ensure that refunds are processed by branch within the sub-delegated authority with proper documentation and those beyond Branch authority are processed through Central Finance (AFSS).
- Check and validate all agreed check list before confirming passport release of branch staff.
- Reviewing all petty cash payments, test checking daily collections and deposits to ensure compliance
- Liaise with Central Finance (AFSS) and other departments to ensure that all intercompany transactions, upsell recoveries, Pricing differences etc are regularly reconciled and kept on track

Requirements

Stock, Insurance & WIP controls
- Ensure Stock controllers adhere to standard documentation and procedures about stock movements and best practices followed on stock management of on-site stocks including Demo/display/Damaged stock.
- Ensure adequate insurance coverage is in place for dealership stock, cash, assets and other components at all times.
- Review periodical physical inventory (Units and Parts) and reconciliation to ensure physical stocks match with the system stocks.
- Participate in and support the smooth conduct of Annual stock counts (Units and Parts)
- Monitoring of aftersales WIPs at branches regularly and ensure timely closing of job cards to ensure revenue recognition as per IFRS

Credit Control & AR Collections
- Facilitate through Branch Finance team, timely submission of Finance deal packs and provide support and follow up with AFF for early collection of bank debts.
- Review with Sales team (sales & aftersales) on overdue and collection on regular basis and provide status report to Branch Management and BUFM

Policy, Procedures and Internal Audit recommendations
- Ensuring that all Finance SOPs are adhered to by the branch and adequate advice is provided in compliance matters (INDs, DNIs export sales etc.)
- Continuous review of existing policy and procedures and recommend improvements to strengthen internal control.
- Facilitate Group internal audit review of branch operations and ensure timely implementation of audit recommendations

Leadership
- To lead and supervise the finance team of all responsible Branches (Sales & Aftersales)
- Provide appropriate trainings to the Branch Finance team from time to time.

Ad hoc tasks & Projects
- To carry out Ad Hoc tasks/reports as defined by the BUFM / Branch Management / GM or any other member of Senior Management.
- Involve into Projects representing various business areas as and when required.

Required Skills to be successful:
- 5+ Years of Experience in Automotive industry
- Strong knowledge of KSA tax regulation Tax laws and IFRS
- Ability to meet tight deadlines in fast pace environment
- Must be an excellent team player

About the Team:

This role will be reporting directly to the Financial Controller

What equips you for the role:
- Chartered Accountant (or similar qualification)
- 5 years local market experience in Automotive dealership or retail environment

Job-Specific Skills: Analytical, process oriented, good communication skills, exposure to ERP

Behavioural Competencies: Should be able to plan and prioritize tasks, persuasive skills, Kaizan attitude, Self starter; and a strong team player.

About Al-Futtaim Automotive
A major division of the UAE-based Al-Futtaim Group of companies, Al-Futtaim Automotive is an industry leader with presence in 10 countries across the Middle East, Asia and Africa.
Our core business activities at Al-Futtaim Automotive include distribution, manufacturing, leasing and aftersales, and we are firmly established as the regional representative of some of the world's most iconic automotive brands: Toyota, Lexus, Honda, Jeep, Chrysler, Dodge, Volvo and RAM as well as EV brands.
We are driven by a customer-centric approach, constantly pushing the boundaries on innovation, quality standards, and value-added service across our vast universe of customers - right from motoring enthusiasts to fleet operators to contractors. Our mission is to become the leader in custom-made mobility solutions by delivering nothing less than world-class omni-channel experiences. We channel our local expertise and global trust to deliver one of the most comprehensive portfolios of mobility products and solutions, from passenger cars to SUVs, electric vehicles to high-performance motorbikes, commercial vehicles to industrial & construction equipment.

What keeps the company moving forward is a 9000-member strong team, with inspiring possibilities for growth, throughout the career path. This is Al-Futtaim Automotive and we empower talent to move forward.

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.