Financial Accountant

Majid al Futtaim Properties - Dubai

Majid Al Futtaim Lifestyle 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.
Reporting to: Senior Finance Manager Function: Finance Location: Majid Al Futtaim Lifestyle, Corporate Head Office Role Purpose: The Financial Accountant is responsible for managing daily and month-end operational transactions of accounting and financial activities of the Company, liaising with key business stakeholders including the Financial Shared Service Centre (FSSC). The Financial Accountant supports the business by collecting, analyzing, investigating, and reporting relevant financial data as required.
Responsibilities will include, but will not be limited to the following: Operations:

  • Responsible for Accounts Payable activities ensuring timely submission of invoices and payment requests, scheduled pay-outs, reconciliation of petty cash reimbursements.
  • Responsible for Accounts Receivable activities ensuring consignments and credit sales are recorded accurately, timely collection and reconciliation of book of accounts.
  • Responsible for analysis of financial data, validating accuracy and reporting the information to relevant stakeholders.
  • Ensure accurate preparation of weekly and monthly cashflow and cash balance information.
  • Liaise with relevant projects teams for submission of all asset transfer, new and/or refurbished stores documentation and prepare necessary documents for store closure or disposal of assets.
  • Receive, track and monitor franchise related invoices and payments.
  • Manage Bank related activities ensuring submission of documents, signatory approvals, transfer letters and bank guarantees.
  • Manage repatriation of excess funds when required.

  • Responsible for accurate and timely update of General Ledger information, ensuring balances are reconciled and discrepancies reported appropriately.
  • Coordinate and follow through with all departments to ensure sales and inventory information is accurately posted and validate and report discrepancies if any.
  • Support the Finance function with internal and external audit requirements.
  • Contribute and support the business in achieving the Dare Today, Change Tomorrow sustainability strategy.

  • Support all internal departments in finance related queries providing relevant data and information when required.
  • Build a professional relationship with vendors, assisting with queries and resolving issues.
  • Act as a coordinator between relevant Franchise contacts in relation to any variances and ensure resolution of issues.

  • Timely and accurate completion of month-end closing as per business deadlines.
  • Payment release as per agreed SLA’s.
  • Monthly review of BSR’s and resolution of open points within the allocated timeframes.
  • KDS reconciliation completions within the allocated timeframes.
  • AX cost center accuracy.
  • Advance clean-up accuracy.
  • VAT return completion within allocated timeframes.
  • Sustainability Initiatives.

Functional/ Technical Competencies:
  • Analytical skills.
  • Retail business knowledge.
  • Statistical Analysis.
  • Research and reporting expertise.

Behavioural Competencies:
  • Leads the Way – Is able to prioritize work based on urgency and impact. Is able to communicate objectives in a clear manner. Reaches out to colleagues for support as and when needed to ensure timely delivery of objectives. Takes initiative to create positive energy. Enthusiastic about new challenges.
  • Drives Impact – Is able to identify key pieces of information required for delivery of work. Identifies areas of risk within own role. Understands when things are urgent. Takes ownership and escalates where required in a timely manner.
  • Thinks Customer – Actively listens and demonstrates understanding for customer’s stated and unstated expectations and understands what is needed to deliver on expectations. Delivers value and quality to the customer. Understands “customer first” mindset.
  • Thinks Group – Understands how and where own role / work fits in the overall company. Demonstrates willingness and ability to collaborate. Actively achieves targets. Communicates well with colleagues. Listens attentively. Does not shy away from collaborating.
  • Develops Talent – Suggests ways of improving efficiency. Spends time learning and improving. Regularly seeks feedback. Responds honestly to difficult questions and gives relevant feedback when required.
  • Fosters Innovation – Does not hesitate to share new ideas. Is curious and takes inspiration from best practices. Demonstrates creativity in day to day work.

Qualifications & Experience: Qualifications / Education
  • Degree in Finance and Accounting.
  • Professional qualification is accounting is preferred.

  • Minimum 4 years of experience in the Finance function.
  • ERP System, Microsoft AX experience is an advantage.

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