Date: 17-Jan-2022
Location: Dubai, AE
Company: Majid Al Futtaim
Majid Al Futtaim invites you to join us in our quest to create great moments for everyone, everyday! We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification. We have over 40,000 team members in 15 international markets representing over 100 nationalities – all keeping the customer at the heart of everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.
Role Purpose
The role of the Director of Finance is to provide to provide continuous leadership in the financial area for the food and beverage business of leisure entertainment and cinemas. This role also is responsible for providing management with guidance and training whilst also focusing on the profitability of the businesses, maintaining accurate and timely financial reporting ensuring acceptable levels of internal control, ensuring compliance with all regulations and policies and procedures and by safeguarding company assets.
Role Details: Key Responsibilities and Accountabilities:
Strategy, Planning & Leadership
- Leads and analyzes financial market mapping for assessing viability of new brands
- Establishes accurate forecasting processes that enable the formulation of informed strategies and direction by departmental leadership
- Leads budgeting, financial planning, forecasting, and reporting the Leisure, Entertainment & Cinema businesses
- Drives strong compliance standards - ensure strong ethics, integrity and credibility within the Food and Beverage group
- Custodian of budget, feasibility studies and channel financial risk management
- Identifies opportunities to optimize performance and implement performance measures to reach financial goals
- Analyzes financial data and operations to advise management and to assist in achieving and maintaining the division’s financial objectives
- Leads financial analysis to assist management in the evaluation of the profitability of income streams as well as the potential for cost efficiencies
- Monitors revenues/expenses across the food and beverage portfolio and ensures the accurate recording as per established guidelines
- Investigates and critiques variances to plan or to prior year and offer practical improvement methodologies to management
- Conducts risks management and continuously reviews all finance policies and internal control procedures, effecting necessary changes where needed
- Develops and leads weekly/monthly/annual/ financial planning processes for the food and beverage business to establish a department-wide corporate budget that is subsequently approved by the CFO and CEO of Leisure, Entertainment & Cinemas
- Coordinates, analyzes, and reports the financial performance to CFO and CEO of Leisure, Entertainment and Cinemas (financial performance, projections and other special projects as required)
- Stays up to date with market trends that are relevant for the industry as well as any finance/accounting changes that would impact the business from an accounting or commercial standpoint
- Ensures compliance with all contracts, legal agreements, and the proper execution of all operational taxes
- Work with management in maintaining all licenses, permits, insurance and other regulatory contracts
- Analyzes financial data and operations to advise management and lead the business in achieving and maintaining the division’s financial objectives
- Maintains compliance with the DOA and Policies and Procedures of Majid Al Futtaim
- Establishes and continually audit all internal financial controls including purchasing and cash handling
- Lead and develop the Food and Beverage finance team as well as the wider finance population to ensure strong talent pool and succession planning
- Ensures the effectiveness of debt collection and credit management systems
- Liaises with internal and external auditors to comply with both statutory and non-statutory requirement
- Understanding of business drivers and key variables for the businesses
- Requires initiative to generate analytical framework / models to convert raw business data to useful information
- Responsible for capital expenditure analysis and control
- Oversee EBITDA for the Food and Beverage group
- Willingness to travel within the region
- Performs other duties as deemed necessary in the execution of his duties or duties as delegated by the CEO
- Commercial Acumen
- Financial Acumen
- Strategic thinking with strong financial planning and analysis skills
- Expert understanding of big data and analytics
- Exceptional communicator
- Expert understanding of big data and analytics
- Managing vision and purpose
- Ability to direct others with strong influencing skills
- Highly experienced with building organizations from the ground up including but not limited to drafting processes, templates, negotiation, and third-party relationship management skills
- Deep understanding of accounting principles as well as a solid understanding of financial controls and procedures that are necessary for successful prevention, detection, and resolution of errors in the business’s accounting records
- Technologically savvy and adept with excellent computer skills, being highly proficient in MS Excel, MS Office, MS Outlook, and PowerPoint, which will all be necessary for the creation of financial reports, proposals, and recommendations
Personal Skills
- Ability to influence a cross-functional team and senior business leadership as well as stakeholders in a unified direction and with a common vision
- Highly effective in handling multiple projects and meeting tight deadlines, be results and detail oriented
- Possess exceptionally good problem-solving skills and have an ability to remain calm and composed during times of uncertainty and stress
Minimum Experience
Minimum of 12+ years of working experience in a corporate finance position within a fast-moving and dynamic business environment, preferably in a senior corporate finance management position
At least 5 years in a Head of Finance, Financial Controller role overseeing various financial verticals
Minimum Qualifications/education
- Preferably educated to professional level, preferably CA, MBA - Finance
- CPA, ACA/ACCA certification is a must
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