Job Requisition ID: 171740
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 Finance Control for our Real Estate Fixed Assets, playing a vital role in driving strategic decision-making for the company. The candidate will be responsible for overseeing all financial aspects of real estate development projects. 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 Controller and relevant Asset Development Business Departments on the daily operations, decision making, strategic business planning, and monthly management meetings and business reviews.
The ideal candidate would be commercially oriented, process-oriented, possess excellent staff & task managerial skills, natural leader, pay close attention to detail, ensure compliance with Laws and Policies and have analytical thinking skills. This includes close interactions with the leadership team on a continuous basis. Additionally, this role will require knowledge and experience of accounting standards, real estate operations, and Egypt real estate laws and guidelines.
What you will do:
- 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 Real Estate Development needs to ensure that any actions driven by the findings take place.
- Review monthly closing procedures and accrual bookings for accuracy (Pre-Close, During Close, and Post-Close).
- Ensure the accuracy and substantiation of fixed asset balances.
- Monitor project performance against approved budgets and identify potential variances.
- Capitalize completed fixed asset projects.
- Ensure compliance with fixed asset policies and procedures.
- Assist management with the handover of completed projects from asset development to asset management teams.
- Advise on CFC projects funding and establish a control mechanism for cash flow. Coordinate with Treasury on the management and operation of project financing.
- Monitor the economy across the region with a focus on Egyptian real Estate Development and advise the business on updates, risks, and opportunities.
- Business Support
- Primary interface between Real Estate Development Business Teams, Local Finance team, Shared Services Finance, Regional Finance, Group Finance, Internal and External Audit, and internal management in managing CFC finance operations related to fixed assets.
- 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 requests for approvals for Capital Expenditures and ensure that they are in line with the DOA and budgets.
- Ensure that all future development capital expenditures (Capex) are raised and requested through PMWeb.
Required Skills to be successful:
- Minimum of 5 years of experience in the field of Finance and Accounting, out of which a minimum of 3 years in the Real Estate industry.
What equips you for the role:
- Bachelor’s degree in accounting/finance, or related field.
- Knowledge of management reporting, automation, and accounting systems is necessary.
- Knowledge of ERP Financial Software is necessary; SAP and Yardi expertise will be preferred.
- Experience in the 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.
