Finance Manager – Financial Controlling

Full Time

Al Futtaim Private Company LLC

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

Perform Financial Accounting tasks in compliance with IAS, IFRS, and company guidelines.
Oversee financial and management accounting for Financial Services, Rental & Leasing operations.
Maintain and manage General Ledger (GL), Profit Centers (PC), and Cost Centers (CC) effectively in SAP.
Conduct reconciliations for Vendors, Accruals, Banks, and other relevant accounts on a timely basis.
Handle Payroll accounting, including end-of-service benefits (EOSB) settlements for staff.
Gain a comprehensive understanding of the Leasing & Lending system, ensuring smooth end-to-end processes.
Monitor KSA front-end system transactions and postings regularly.
Ensure ongoing reconciliation between the KSA front-end system and SAP.
This role involves overseeing financial processes, maintaining accurate records, and ensuring compliance with regulatory standards and internal guidelines.

Reporting & Audit:
Prepare Monthly Financials pack for all entities.
Generate mid-month forecasts as needed.
Submit BI/BPC/Forecast/Flash/Actuals in Auto IFRP systems.
Handle Monthly, Quarterly, and Ad-hoc reporting related to KSA.
Support internal, external, and regulatory audits, ensuring timely preparation of audit data and implementing feedback.
VAT Compliance:
Manage efficient documentation of VAT documents.
Reconcile and document VAT on a quarterly basis in line with VAT return periods.
Prepare VAT returns in accordance with VAT laws and group tax guidance.
Ensure governance and control around VAT return filing and payment.
Maintain VAT Return files per group mandate.
Maintain a real-time VAT audit checklist.
Initiate VAT return filing and payments.
Respond to FTA queries related to VAT refund promptly.
Account for VAT refunds received from FTA.
Prepare and maintain VAT audit packs as per group mandate.

Policies, Processes & Documentation:
Ensure accounting records adhere to defined accounting policies for different functions.
Conduct annual reviews of accounting policies (e.g., FA/GL/AR/AP/VAT).
Recommend updates to policies based on changes in business or requirements.
Develop and customize reports in SAP to meet business needs.
Explore and implement automation of reports from IFRP system.

ICM & Vendor Management:
Establish and maintain an Incentive Compensation Management (ICM) mechanism for automotive brands’ dealer incentives.
Ensure timely posting and reconciliation of ICM auto acceptance transactions, addressing any discrepancies.
Review ICM transactions monthly, resolve old pending issues, and escalate open transactions for prompt closure.
Implement a robust approval process for vendor invoices and ensure they are booked before payment due dates.
Maintain an efficient documentation system for vendor-related documents.
Book PO and Non-PO related vendor invoices within 2 working days of receipt, assigning relevant Tax codes and GL codes.
Perform monthly reconciliation of Goods Receipt/Invoice Receipt (GR/IR) GL accounts.
Enhance the security of online payment systems to minimize manual intervention or explore alternative payment options such as Mashreq Matrix.

Required Skills:
Minimum 7 years of experience as a Financial Controller.
Preferred background in the Automotive industry.
Excellent communication skills.
Certification as a Chartered Accountant (CA), Certified Management Accountant (CMA), or Association of Chartered Certified Accountants (ACCA).
About the Team:
This role reports to the Senior Financial Controller.

Education: CA or MBA in Finance.
Minimum Experience and Knowledge: Background in Automotive, financial services, rental, and leasing industries.
Job-Specific/Technical Skills: Proficiency in Advanced Excel and SAP.