Majid Al Futtaim Retail 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 Head of Finance – B2B is responsible for overseeing the accounting and financial operations of the company, establishing a reliable financial reporting system in compliance with internal guidelines and procedures which monitors the achievements of the division’s objectives and provides stakeholders with relevant financial data for the decision making process. The role holder is also responsible for credit management for the division.
Role Details – Key Responsibilities and Accountabilities:
Business Support
- Support B2B Business head in day to day business operations
- Support in preparing long and short term business plans and provide insights and recommendations
- Oversee the logistics function for the division
- Co-ordinate smooth running of B2B IT system
Budget and Cost Control
- Provide inputs on the preparation of budget when necessary
- Provide inputs on cost reduction measures for the division
- Assess and evaluate financial performance of division with regard to long-term operational goals, budgets and forecasts
Risk Management and Insurance Coverage
- Ensure proper and adequate insurance coverage for assets as well as customer receivables.
- Ensure that financial aspects of the contracts are adhered to and are renewed in a timely manner
- Evaluate customers’ credit worthiness and recommend/approve credit limits for the customers
- Ensure timely follow ups with customers for collection
- Ensure credit and collections policies are followed
Internal Control and Audit
- Ensure alignment of procedures developed by the Finance function
- Control suppliers’ payment terms and consequences
- Monitor stock levels and follow up on actions for slow moving stock reduction
- Ensure the strict implementation of Internal Audit recommendations
- Review, develop and implement the finance strategy that supports the company’s corporate and business strategies
Reporting
- Oversee the preparation of business performance analysis as per business needs
- Prepare business presentations and reports for stakeholders periodically and ad hoc basis when required
- Provide summary of asset information to the management regularly
- Responsible for business analysis and modelling including:
- Monthly financial closing (budgetary control, P&L, Balance Sheet and Cash Flow)
- Monthly forecast
- Annual budget
- Cash flow
Human Capital Responsibilities
- Assist in 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 job-training 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
- Financial report error rate
- Adherence to all regulatory specifications
- Costs controlled within budgets
- Near Zero bad debts and overdue receivables within agreed parameters
Qualification, Experience & Skills:
Minimum Qualifications/education
- Bachelor Degree in Finance, Business Administration or Commerce
- CA, CPA preferable
Minimum experience
- A minimum of 8 years in a similar role, of which 3+ years in wholesale and distribution business
Skills
- Strong analytical and technical skills in financial analysis and reporting
- Good project management and presentation skills
- Knowledge of MS Office, particularly modeling in Excel
- Ability to strategize and solve problems
- Strong leadership, communication and PR skills.
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