Financial Controller

2 weeks ago

Dubai, Dubai, United Arab Emirates Majid Al Futtaim Full time

Majid Al Futtaim invites you to join us in our quest to create great moments for everyone, everyday We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year.

For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification.

We have over 40,000 team members in 15 international markets representing over 100 nationalities - all keeping the customer at the heart of everything we do.

If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.

Role Purpose:

The Financial Controller - Operations is responsible for establishing a reliable financial control system within MAF Retail. The role holder is also responsible for examining proposed projects and providing support by highlighting risks and recommending solutions.

Role Details - Key Responsibilities and Accountabilities:

Budget and Forecasting

  • Assist with monitoring allocated budgets to ensure compliance and highlight possible issues
  • Provide inputs on the preparation of budget when necessary and provide inputs on cost reduction measures
  • Partner with relevant function heads, by providing them with analysis and advice in the planning process with regards to budgeting, strategic plans and periodic forecasts for their respective departments

Financial Control

  • Ensure that financial aspects of relevant contracts are adhered to and that contracts are renewed in a timely manner
  • Ensure reconciliation of accounts is conducted periodically and reviewed as required
  • Track revenue recognition and ensure revenue is allocated correctly, taking corrective action where inconsistencies arise
  • Review and provide inputs on the monthly depreciation schedule and reconciliation statements
  • Review the creation/deletion/revision of new vendor accounts after necessary approvals
  • Provide inputs for the development of relevant processes for reporting, benchmarks and policies for the organization and provide recommendations when required
  • Review all financial transactions, processes, records, and books of accounts ensuring they are in compliance with International Financial Reporting Standards
  • Ensure accurate and proper intercompany, bank, suppliers, advances/prepayment reconciliations are conducted and that the necessary actions are taken accordingly to maintain accuracy and safeguard the company's assets

Capex

  • Support the process of reviewing Capex assumptions for the appraisal of new projects and budgets, by assisting with the development of feasibility studies and providing necessary analysis
  • Support the control process by staying informed on the progress of relevant Capex investments approved projects / budgets and carry out a detailed analysis, giving feedback to concerned stakeholders about possible budget risks
  • Support the value creation process by analyzing existing fixed assets details for productivity and identifying patterns applicable in new projects to maximize value creation to be recommended to concerned stakeholders
  • Support the identification process of improvement areas for different stages of an investment process to identify potential for cash flow savings / synergies and create optimized investment process and assist with the implementation phase
  • Support the relevant functions by providing necessary analysis and detail of the organization Capex investment and expense process

Reporting

  • Develop relevant reports following the set standards and procedures
  • Provide inputs to business units that includes related analysis against agreed KPIs
  • Examine all financial reports and data closely to check for discrepancies

Human Capital Responsibilities

  • Assist with the implementation of the performance management process by setting objectives, monitoring performance, and provide constructive feedback and provide inputs to senior management
  • Provide mentorship for the purpose of developing a continuous talent pipeline for key roles
  • Provide inputs on training needs and coordinate with the HC department to ensure facilitation of training requirements
  • Develop and implement on the jobtraining for the team
  • Provide inputs for the development of annual manpower plan
  • Ensure the implementation of MAF Retail's corporate policies and relevant procedures
**Definition of Success

  • Timeliness and accuracy of developed financial reports submitted
  • Recommendations provided for budgeting, forecasting, financial control or Capex investments
  • Average number of days to compile and submit audit documents
  • Number of errors reported by external auditors
  • Consistency and comparability of financial statements and reports

Personal Characteristics and Required Background:

**Minimum

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