Al-Futtaim Group

Senior Manager - R2R | Finance Shared Service Center | Corporate Services

Location
Dubai, AE
Salary
Competitive salary + benefits
Posted
15 Feb 2024
Closes
29 Feb 2024
Ref
159757
Approved employers
Approved employer
Contract type
Permanent
Hours
Full time
Experience level
Manager

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 organisation 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.

We are currently seeking an experienced finance professional to join our Finance Shared Service Center in the capacity of Senior Manager – R2R.

Overview of the role

  • 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.

What you will do

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

  • 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

  • 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 to be successful

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

What equips you for the role

  • Commerce graduate preferred with accounting major
  • 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)

We’re here to provide excellent service but a little help from you can ensure a five-star candidate experience from start to finish.

Before you click “apply”: Please read the job description carefully to ensure you can confidently demonstrate why this opportunity is right for you and take the time to put together a well-crafted and personalised CV to further boost your visibility. Our global Talent Acquisition team members are all assigned to specific businesses to ensure that we make the best matches between talent and opportunities. We not only consider the requisite compatibility of skills and behaviours, but also how candidates align with our Values of Respect, Integrity, Collaboration, and Excellence.

As part of our candidate experience promise, we also want to make ourselves available to you throughout the application process. We make every effort to review and respond to every application.

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

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