Finance Manager - Asset Management | Group Finance | Corporate Services

Job description / Role

Job Requisition ID: 158112

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 A"rab 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 organisation 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.

We are currently seeking an experienced finance professional to join our Group Finance in the capacity of Finance Manager - Asset Management.

Overview of the role
To monitor quality of assets in the Balance Sheet, evaluate / critically review Feasibility Studies/Business Cases prior to seeking IC/Senior Management approvals, drive the follow-on mandatory Post Completion Review process and track / report Capital Expenditure spends. Also, carryout central tracking and reporting of loss-making businesses/stores across AF Group, Monitoring & reporting of the off-balance sheet financial exposures, coordinate WACC rates setup and identify/monitor assets for impairment testing and carryout benchmarking for the various AF Group Businesses and Principals

What you will do

Monitor quality of assets in the Balance Sheet

- Constantly monitor and report on the quality of working capital and other assets in the Balance Sheet to highlight key issues during the Financial Review Meetings and Business Review Meetings for Management attention.
- Monitor adequacy of provisioning, impairments, write-offs, etc to ensure compliance with Group Financial Policies
- Review of Investment Proposals / AFEs / Business Plan / IANs pertaining to expansions and M&As
- Carryout critical evaluation/review of new Investment Proposals / Business Plans / AFEs / IANs and M&As to ensure the proposed investments meet the investments criterion set by the Group prior to the approval by the AF Group Senior Management.
- Drive the Post Completion Review exercise with the Divisions/Businesses to ensure compliance to DOA and ensuring executed projects perform in line with the approvals provided
- As part of PCR process, highlight potential impairment cases to the Management for early action and accounting.
- Coordinate with Corporate Finance Team for issue/update of WACC rates to the Business Divisions to ensure updated rates are used by the Business Divisions in the investment proposals

Capital Expenditure tracking and optimization

- Centrally monitor the Capex Budget and actual spend done by the Business Divisions to ensure the spend is within the Budget and explore ways to optimize the spend

Marginal and Loss-making Businesses/Stores

- Carryout periodical analysis of marginal and loss-making businesses / showrooms / stores for Senior Management attention for turnaround / exit and to improve the overall profitability of the AF Group
- Tracking of action items agreed regarding the turnaround/closure of the loss-making businesses/stores for regular reporting

Benchmarking exercise

- Carryout benchmarking analysis on AF Group/Business Division performance with select peers, competitors, Principals, etc. based on published information for information and any performance improvements

Off-Balance Sheet exposure tracking/reporting

- Carryout periodical reporting of off-balance sheet exposure across AF Group for Management attention and action

Requirements

Required skills to be successful

- Financial Management and reporting skills preferable with Corporate Finance experience including familiarity with computerized financial systems,
- feasibility studies preparation/review,
- financial and data modelling.
- Reasonable knowledge and understanding of International Accounting Standards

What equips you for the role

- Commerce Graduate with CA/CMA with expertise in Financial and Management Accounting/reporting and Corporate Finance related activities
- Overall, 7-10 years + in Finance with 3 to 4 years in similar role

We're here to provide excellent service but a little help from you can ensure a five-star candidate experience from start to finish.

Before you click "apply": Please read the job description carefully to ensure you can confidently demonstrate why this opportunity is right for you and take the time to put together a well-crafted and personalised CV to further boost your visibility. Our global Talent Acquisition team members are all assigned to specific businesses to ensure that we make the best matches between talent and opportunities. We not only consider the requisite compatibility of skills and behaviours, but also how candidates align with our Values of Respect, Integrity, Collaboration, and Excellence.

As part of our candidate experience promise, we also want to make ourselves available to you throughout the application process. We make every effort to review and respond to every application.

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.