Job Requisition ID: 171067
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:
In this role we are looking for someone who will support the FP&A function for our businesses, playing a vital role in driving strategic decision-making for the company. The candidate will be supporting the production of the financial planning and analysis cycle, from budgeting and forecasting to reporting and analysis. The Candidate will partner with cross-functional teams, Regional Finance and Group Finance to ensure alignment with financial goals and objectives. The candidate will act as a business Co Pilot assisting the Financial Manager and relevant Asset Management Business Departments on the daily operations, decision making, strategic business planning, and monthly management meetings and business reviews
What you will do:
Responsible for:
Financial Reporting & Analysis
Work with the various finance teams to deliver accurate monthly accounting close and balance sheet integrity through close monitoring and analysis of accounts
Compile monthly reporting packages to support CFC business reviews.
Review monthly closing procedures and accrual bookings for accuracy (Pre-Close, During Close and Post-Close)
Conduct and present a detailed financial analysis of the different financial cycles (i.e. sales, leasing, working capital, loans,..etc) to the management and ensure that any actions driven by the findings take plac
Budgeting & Planning
Advise on CFC projects funding and establish control mechanism of cash flow. Coordinate with Treasury on the management and operation of projects financing
Support the development of the annual budget, including the P&L, balance sheet, and 5 Year strategic plan.
Prepare rolling forecasts for projects, incorporating new information and adjustments as needed.
Develop cash flow forecasts for the entire project, reflecting surpluses or funding needs based on the development plan.
Support the Financial strategic direction of the CFC business through monthly review and variance reporting and improvement initiatives.
Monitor the economy across the region with a focus on Egypt retail, residential and commercial properties and advise the business on updates, risks and opportunities.
Develop reports and schedules as required for external and internal purposes to ensure that any business decision is backed up with the right financial data.
Implement and maintain budgetary controls over operating expenses and capital expenditure
Business Support
Review all the Lease Agreement Forms (LAFs) from a business and financial perspective. Conduct detailed analysis of lease revenue and debtors’ reports
Primary support interface between CFC Business Teams, Local Finance team, Shared Services Finance, Regional Finance, Group Finance, Internal and External Audit, and internal management in managing CFC finance operations and financial reporting.
Support the finance improvement projects, particularly in relation to reporting automation, system implementation and process improvements
Review all the relevant internal notes, Purchase Requisitions and request for approvals for OPEX and CAPEX and ensure that they are in line with the DOA and budgets
Required skills to be successful:
Job-Specific Skills:
- Well-versed in EAS/IAS / IFRS.
- Well-versed in preparation of Financial Statements.
- Knowledge of Egypt Real Estate Laws, Guidelines, and directives is a desired skill
Behavioural Competencies :
- Positive attitude, with ability to manage expectations of the various stakeholders of Cairo Festival City.
- Ability to manage time appropriately, communicate effectively with team members and business
- Ability to approach problem solving with simplicity and logic, and to present solutions on financial matters to non-finance professionals.
- Ability to think holistically and understand the chain impact of financial transactions on the overall business.
- Ability to work under pressure without losing control over tasks assigned
What equips you for the role:
Minimum Qualifications and Knowledge:
- Post-graduate degree in commerce / accounting / finance.
- Knowledge of management reporting, automation and accounting systems is necessary.
- Accounting / Finance qualification (CPA, CA, CMA, ACCA, CFA, CIMA), MBA is a plus
- Knowledge of ERP Financial Software is necessary; SAP and Yardi expertise will be preferred
Minimum Experience:
- Minimum of 3 years of experience in the field of Finance and Accounting, out of which a minimum of 2 years in the Real Estate industry.
- Experience in Real Estate / Construction / Project Management industries will be preferred.
About Al-Futtaim Group Real Estate
The real estate development and operations arm of Al-Futtaim, Al-Futtaim Group Real Estate is responsible for a multi-billion-dollar portfolio across MENA. With high-quality residential, business, retail, tourism, educational and healthcare developments, the master developer caters to the diverse needs of cities and communities in the region. From origination, conception, development, sales, procurement and construction of mega-projects and the leasing, operation and management of these projects after completion, Al-Futtaim Group Real Estate (AFGRE) has been developing and managing owned landbanks, unlocking the economic potential of the region and contributing to future development for more than 40 years.
Our focus is to enable and invest in meaningful relationships to make our properties the best places to live and work, build additional products and services and enable partnerships to create true value to our customers throughout their entire experience with us.
AFGRE is responsible for master planning of all projects in its portfolio, including two large scale mixed use destinations: Dubai Festival City and Cairo Festival City.
