Finance Accounts Executive - Dubai, United Arab Emirates - Al-Futtaim

Al-Futtaim
Al-Futtaim
Verified Company
Dubai, United Arab Emirates

1 month ago

Ahmed Al-Mansouri

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Ahmed Al-Mansouri

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Description

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:


  • Financial Planning & Analysis Support
  • Monthly MIS preparation and reports distribution
  • Vendor Management and reconciliation
  • Manage Vendor Support and Rebates/Funding Claims
  • Review and validate intercompany charges for acceptance
  • Support Month-End/Year-End Closing (MEC/YEC) Activities and Post-Closing Activities
  • Fixed Assets (CAPEX) and Work-In Progress monitoring
Balance Sheet Substantiation Support

**What you will do:
- **Description of Accountability:
Financial Planning & Analysis Support

  • Support budgeting, quarterly forecasting including strategic planning exercise (by country, by store, by channel and by function)
  • Collaborating with different teams within the division (e.g. RSD, Leasing, Facilities Management, DRT) to collate and analyze information for budgets/forecast inputs.
  • Collaboration with different budget holders/internal department (Marketing, E-Com, Logistics, Planning & HR) to collate inputs for budgeting and forecasting exercise.
  • Liaise with planning team to build and make recommendations on Opentobuy (OTB) for Inventory optimization.
  • Conducting variance analysis by analyzing actual results versus planned and prior periods and identify any potential risks and red flags that will impact future financial performance.

Monthly MIS & Reporting

  • Support the preparation of monthly and quarterly reporting deck of Watsons for senior management focusing on key performance indicators (KPI) and detailing financial performance relative to plan and suggest action plan for improvement.
  • Prepare and distribute storewise Monthly P&L.
  • Assists in conducting Financial Performance reviews and analysis with different budget holders and highlight any red flags/risks.
  • Work with Retail FP&A and Group Finance to ensure integrity in financial planning function and perform analytical analysis supporting executive management understanding of divisional performance.

Vendor Management and reconciliation (Including Inter-company Charges)

  • Support back office and store operations in dealing with 3rd party vendor inquiries by liaising with I2P and APSSC
  • Support in resolving vendor's long outstanding overdue and payment issues by liaising with store operations, P&C, I2P/APSSC.
  • Manage Non-Merchandise Non-PO Bills ensure the appropriate GL's and Cost Centers to be charged and are being submitted and paid as per credit terms.
  • Manage and track Non-Merchandise PO's ensure no open PO's aged more than 60days.
  • Raise cross charges against vendors/principal and track settlement

Manage Vendor Support and Rebates/Funding Claims

  • Validate calculations from system for vendor funded promotions and contractual rebates.
  • Verify and cross check frontend margin yield for the period versus agreed JBP between the business and vendors.
  • Monthly invoicing of promotional and contractual rebates against vendor and instruct for reversal of any provisions
  • Periodic monitoring of other income (window support, New Store opening etc.)

Review and validate intercompany charges for acceptance

  • Work closely with Central Controlling Team in clearing open intercompany charges in IC Module.
  • Work closely with R2R's ICM Accountant to review and validate supporting documents on Intercompany Charges for acceptance
  • Review and take actions on open intracompany charges for manual acceptances.
  • Focus on clearing legacy balances (Support the broader projects around Interco clean up)

Support Month-End/Year-End Closing (MEC/YEC) Activities and Post-Closing Activities

  • Maintain up to date accruals/provisions and prepayments (Non REFX) schedules for closing activities
  • Work closely with internal stakeholders for monthly provisions requirement and accruals
  • Work closely with R2R for accrual/provisions posting and reversals
  • Review reasonableness of accruals/provisions posted
  • Conduct monthly cost and expenses analysis by store and by channel
  • Other tasks (e.g., SAP BPC Uploads) required postclosing of the period
**Fixed Assets (CAPEX) and Work-In Progress monito
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