Senior Manager – R2R (Finance Share Service Center)

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 A”rab 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 organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

Job Role:
We are currently seeking an experienced finance professional to join our Finance Shared Service Center in the capacity of Senior Manager – R2R.
To manage accounting of inter-company related transactions for the AF Group entities (Accounts Receivable, Accounts Payable, Loans receivable/ payable, Gratuity Funds & Reserves). To examine current processes and identify areas for improvement to minimize differences across all systems (PRT, PAD, PTR). To manage, guide and direct processing teams responsible for acceptances of IC invoices, settlement of IC balances, posting of accounting entries related loan and any other type of intercompany relationships. Ensure that the team involved performs at optimal levels whilst identifying opportunities to increase effectiveness through automation. To closely monitor instances that lead to mismatches and address root causes. To ensure compliance with Group policies & Group directives and highlight areas of aberration. Harmonize and standardize intercompany processes across the AFG, globally. Continuously engage with stakeholders across all geographies.

To manage computation of Corporate Income Tax computations, accounting, reporting and data extraction.

Job Responsibility:
100% on time related party payments as per agreed due dates and timelines announced from time to time. NIL exceptions
Minimize human intervention causing defects and leading to mismatches
Audit ready processes
Timely, accurate settlements to all parties for accepted Intercompany transactions

Zero unexplained differences between any two related parties
Engage all relevant stakeholders in related parties to highlight mismatches and to drive desired outcome of Nil unexplained differences

Work with GTDP to automate processes
Rewrite SOPs where required
Shape organization’s culture through policy inputs to ensure smooth operations, legal and ethical compliance, meet behavioral expectations always keeping strategic perspective, whilst retaining simplicity in operational processes

Provide necessary inputs to Group Finance to draft policy on intercompany transactions.
Recommend specific changes to policy to keep policy relevant and practical to follow with changing both, internal and external environment.
Transform archaic processes and adoption of standard & best practices across all business units

Mandate acceptances based on strong evidence of performance by the originating company
Streamline document management to bring in absolute transparency and opportunity for review before acceptances
Introduce simultaneous acceptance processes eliminating discretion that leads to mismatches
BPC Intercompany balances are matched on a sustainable basis

Introduce necessary reporting mechanism to support in identifying root causes for differences.
Accurate computation of Corporate Income Tax liability

Minimal deviation between final annual computation and monthly provision of Corporate Income Tax
Effective compliance of Corporate Income Tax by providing timely data demanded by the regulatory authorities

Create an efficient process to store, identify and collate necessary information/data required by the Corporate Income Tax authorities, resulting into smooth assessments

Required skills:
Eye for detail, patient,
High level of interpersonal skills
Ability to perform under tight deadlines and pressure
Computer Skills including good knowledge of MS Excel
Excellent communication skills.

What equips you for the role
5+ years in a similar role and hands on knowledge of ICM (Intercompany module); Settlement processes between related parties, both within U.A.E. & outside; Accounting in ERP (Preferably SAP)
Commerce graduate preferred with accounting major