Associate Manager, Finance

Business Introduction

Welcome to Majid Al Futtaim Properties Asset Management Business Unit. We develop and operate a range of community and regional malls that vary in size and type, and each mall is strategically developed to meet the specific needs and requirements of its market.

Our shopping malls portfolio has become world renowned for innovation within the shopping centre, retail, design and construction industries. We create destination malls that deliver more than just great shopping, through unique leisure offerings such as Ski Dubai, Magic Planet and VOX Cinemas. Through our pioneering efforts, we provide an impressive launch platform into the region for some of the world's most famous retail brands, allowing these retailers to strengthen and grow their brands strategically across a broad market.

When it comes to our shopping malls, our aim is simple: to deliver great moments for everyone, every day, while at the same time redefining the industry standard, achieving global recognition, and driving retail growth in the region.

Job Title

Associate Finance Manager | Majid Al Futtaim Properties Asset Management Business Unit

Role Summary

The Associate Finance Manager will support the Financial Controller in ensuring strong internal control environment, ensuring GS delivery of services, working capital management, financial statements, and JV reporting, drafting policies/guidelines and DOA, external/internal audit management and drive along with business and department head various Finance Transformation & Business process optimisation projects.

The primary responsibilities of the role include preparation of balance sheet (budget/ forecast), analyse working capital and cash flow reporting pack, review and report on receivables & collections, preparation of Board reporting pack to Corporate and review of BU IFRS statutory financial statements.

Role Profile

Receivables and working capital:

• Working Capital - Fortnightly & Monthly Working Capital Monitoring Analysis & Report. Prepare Balance sheet, Working Capital and Cash flow reporting pack on fortnightly & monthly basis depicting the following items, but not limited to:
• Actual working capital position/performance of v/s budget and forecast and previous fortnight / month / year.
• Actual Billing and Collection for the fortnight / month and movement since past fortnight/month along with YTD details and forecast targets to get to the target.
• High risk tenant group and key account collection analysis, updates and targets
• Analysis of other components of working capital such as unearned income, prepayments, advances, other receivables, payables and accruals, provisions
• AR and Provision analysis and reviews as required by corporate for submission to Board/GRC

Monthly Collection Target review and re-setting:

• AR target setting for collection teams and monthly target reviews/re-setting (as required)
• Revisiting targets (true up) due to spillover of collection target of previous quarters
• Discussion with mall managers / teams regarding the target setting
• Preparing mall-wise / country-wise analysis of actual collections v/s targets achieved on monthly basis

Automation and Development of Power BI reports:

• Support Director Finance and Financial Controller in driving automation initiatives
• Primary point of contact and liaison with IT team in the development and review of dashboards to support business and finance reporting.

Balance sheet and Cash flows Actual, Budget, Forecast & Strat Plan Reporting:

• Prepare Annual Budget, Quarterly Forecast and Strat Plan for balance sheet, working capital and cash flows submission to MAFP Corporate
• Liaison with GS to ensure Shopping mall books are accurate and reconciled
• Attending corporate queries regarding forecast and budget figures and providing any additional info required by them, in addition to explaining the movements.

Support Financial Controller in Control Function, Internal Audit, External audit (business related) and any other area included in Corporate Governance index:

• Control and Governance:
• Support in review and update of the Shopping Malls Policies and procedures and DOA, and ensuring compliance thereto
• Internal/External audit:
• Coordination with IA and business to ensure audit points are accurate and responses are of high quality, action oriented and delivered on time
• Monitor IA points closure and follow up for open and overdue recommendations through connecting with the responsible persons and their line managers and supporting on the closure
• Assisting functions in understanding the purpose and how to use the IA system
• Discussion with functions and liaising with IA for extending the timeline justifying the reasons for the same or re-assignment of the issue
• Issue detailed monthly reports including financial impact on IA points
• Support in managing relationship with external auditors and discussions on business related/ control and governance matters
• Draft Reports for Review:
• Reviewing the reports provided by internal audit and corresponding with functions for proper management responses, along with conducting correspondence meetings with IA and functions
• Finalize timelines with management
• Review of Corporate Governance Index Dashboards and work along with business and line manager to close all the open points

Requirements

• Qualified accountant, holding CA/ ACCA/ CPA degree.
• 5-7 years post qualification experience.

What We Offer

• At Majid Al Futtaim, we're on a mission to create great moments, to spread happiness, to build experiences that stay in our memories for a lifetime. We're proud to say that over the past 27 years, we have built a reputation as a regional market leader in what we do. Join us!
• Work in a friendly environment, where everyone shares positive vibes and excited about our future.
• Work with over 50,000 diverse and talented colleagues, all guided by our Leadership Model.