Al-Futtaim Group

Finance Manager | B&Q | KSA

Riyadh, SA
Competitive salary + benefits
06 Sep 2022
06 Oct 2022
Approved employers
Approved employer
Contract type
Full time
Experience level

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:

The Finance Manager is responsible for working closely with Head of Businesses in maximising profit, cost control, driving KPIs and ensuring optimum working capital for smooth running of the business.

He /she is responsible to work on controlling the accounting principles & entries, creating financial statements, making the system reconciliations ( SAP/BPC/ Financial models) ,managing the relations with internal/external audit & group finance and reporting monthly standard reports to group and retail finance with the support of his team

What you will do:

Financial Controlling

  • Financial Asset Management to maximize returns
  • Balance sheet review with controlling team
  • Vendor Management
  • Tax returns and compliance
  • Intercompany and Intra Company management
  • Managing working Capital and Full control over cash flow
  • Risk Management – Assessing operations and observed the financial risk
  • Insurance policies renewals and updates
  • Giving guidance on financial decision by monitoring policies and procedures
  • MM module Landed Factors control
  • Capex Management for new stores and refurbishment
  • Impairment assessment with Central Finance team

Reporting and Budgeting

  • Full involvement in the Budget & Strat Plan process land supporting head of business in planning targets
  • Preparing Balance sheet and cash flow
  • Controlling BPC and SAP upload and reconciliations
  • Managing IAN’s for balance sheet exposures and Write offs
  • Support Anaplan implementation
  • Involvement in MBR and all other reports

Audits and SOP’s

  • Point of contact for internal and external audit
  • Coordinating with all Al Futtaim group Internal Audit
  • Coordinating external audits for the brand
  • Conducting timely audits by internal resource to check and ensure non store process compliance and minimizing company risk
  • Tax compliance

Having Control on business functions and business support

  • Ensure that the finance department delivers timely and qualitative information to all departments on all aspects of the business
  • Partnering commercial team for vendor rebate management
  • Preparation of Direct Cash Flow
  • Co-ordinate with Retail treasury team on funding requirement
  • Manage relation with Rebex team, Country SSF and Central APSSC
  • Work closely with Brand P&C and Central P&C to ensure implementation of effective processes in the business

Project Analysis and expansion

  • Supporting all feasibility analyses for new investments – preparing long term P&L, BS & CF with NPV, IRR analytics.
  • Maintain Closing Balance sheet controls in co-ordination with retail teams

What equips you for the role:


  • Bachelor’s degree on Finance or Business Administration

Minimum Experience and Knowledge:

  • 5 years’ experience in finance function, preferably in Retail Sector.

Job-Specific/Technical Skills required to complete the tasks:

  • Having a business acumen and leadership skills, knowledge of accounting principles, SAP, budgeting, and SAP/ BPC

About Al-Futtaim Retail

Al-Futtaim Retail has established itself as one of the leaders in Retail across the Middle East, Africa & Asia over the past 30 years. We have developed partnerships with some of the biggest and most respected Brands in the world including IKEA, ACE and Toys R Us in the Middle East and the Inditex Group of Brands (Zara, Mango, Bershka and P&B) across Asia. We are also one of the largest Global partners of Marks and Spencer’s in both regions with over 75 stores offering both fashion & food options.

Most recently we have been responsible for bringing brands to the Middle East for the first time with the exciting launches of Watsons and B&Q and we aim to continue to be agile and adaptive to our markets with new launches and further development. For this to be possible we aim to recruit the best talent from all backgrounds who will continue to challenge and develop our diverse workforce which includes over 100 nationalities across 12 countries. Join us today and make a difference…

For further information, and to apply, please visit our website via the “Apply” button below.

Similar jobs

More searches like this

Similar jobs