Associate Manager, Controllership (temp - 6 months)

Apply now »

Date: 27 Jun 2024

Location: 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 45,000 team members in 17 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 position is responsible to ensure adequacy of internal control environment, ensuring GS delivery of services, Forecast, review and report balance sheet, review and report on receivables & collections, support department head in working capital management, financial statement review, JV reporting and drive along with business and department head various Finance Transformation & Business process optimisation projects

Role Details – Key Responsibilities and Accountabilities:

Receivables and working capital

  1. Working Capital - SMBU Fortnightly & Monthly Working Capital Monitoring Analysis & Report

Preparing Working Capital Deck on fortnightly & monthly basis depicting the following;

    • Actual working capital position/performance of SMBU v/s previous fortnight / month
    • Actual Billing and Collection for the fortnight / month and movement since past fortnight/month along with YTD details and forecast targets to get to the targeted WC
    • High risk tenant group and key account collection updates and targets
    • Actual AR as per HFM compared to Budget and Forecast already submitted
    • Special analysis of SMBU unearned income fluctuations for MAFP
    • Other WC items contributing the fluctuations along with reasons for major change, etc.
    • AR and Provision analysis and reviews as required by corporate for onward submission to ARC
    • Monthly meetings with legal team for update on SMBU legal AR

 

  1. Monthly Collection Target review and re setting
    • Quarterly SMBU AR target setting for collection teams
    • Revisiting targets (true up) due to spillover of collection target of previous quarters
    • Discussion with mall managers / teams regarding the target setting
    • Preparing mallwise / countrywise analysis of actual collections v/s targets achieved on monthly basis
  2. Automation and Developing new Power BI reports
    • Liaison with IT to develop new report to support business and finance reporting

 

  1. Accounting analysis support – Accounts Receivable Analysis
  • Review of month close numbers along with SMBU accounting teams to understand the movements of Receivables.
  • Review month end unearned income and other AR related accounts

 

 

Balance sheet - SMBU Budget, Forecast & Strat Plan Balance Sheet

  1. Preparing SMBU Annual Budget, Quarterly Forecast and Strat Plan Balance sheet for onward submission to MAFP and working along FP&A team for finalizing the same
  2. Preparing SMBU Actual balance sheet on quarterly basis to be included in budget / quarterly forecast.
  3. Attending corporate queries regarding forecast and budget figures and providing any additional info required by them, in addition to explaining the movements.

 

 

Control Function Support to Internal Audit, External audit (business relates) and any other area included in Corporate Governance index.

  1. Issued detailed monthly reports including financial impact points
  2. ARMS recommendations
    • Performing continuous ARMS follow up for open and overdue recommendations through connecting with the responsible persons and their line managers and assisting them to close it
    • Assisting functions in understanding the purpose and how to use the ARMS system
    • Discussion with functions and liaising with internal audit for extending the timeline justifying the reasons for the same or re-assignment of the issue
  3. Draft Reports for SMBU Review
    • Reviewing the reports provided by internal audit and corresponding with functions for proper management responses, along with conducting correspondence meetings with IA and functions along with my Line Manager
    • Finalize timelines with management
    • Correspond with IA to identify the right responsible person
  4. Review of Corporate Governance Index Dashboards and work along with business and line manager to close all the open points

 

Other areas

  • Support Line manager in Monthly GS SLA tracking and fixes
  • Support business in conducting sales audit  ( end to end process)

 

General

  1. Ensure compliance with the MAFP SMBU’s Code of Conduct, Departmental policies and HC Policies and Procedures at all times.
  2. Be the advocate and ambassador of aligning and cascading the MAFP values across SMBU and ensure that relevant team adhered to and exhibit the same all the time.
  3. Build the capability of staff reporting into by providing on time regular feedback including annual review on performance and identify areas of improvement / reinforcement for further development.
  4. Manage, guide and mentor the team reporting into and take full responsibility in identifying potential talent and timely supporting professional development.
  5. Lead by example – thrive to create an honest and open work environment where individuals collaborate /support each other as a team and are passionate to achieve a common business objective.

 

 

Required Background:

Minimum Qualifications/education

Qualified accountant, holding CA/ ACCA/ CPA degree.

 

Minimum experience

5-7 years post qualification experience