Head of Financial Control

2 weeks ago


مصر, Egypt Majid al Futtaim Properties Full time

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 Head of Financial Control is responsible for developing and establishing a reliable financial control within MAF Retail to oversee the progress of the organization's objectives and provide stakeholders with relevant financial data for the decision making process. The role holder is also responsible for developing and reviewing reports for new projects within the organization and highlighting risks and recommending solutions.

**Role Details - Key Responsibilities and Accountabilities**:
**Budget and Forecasting**
- Oversee the consolidation, monitoring and reporting of the annual budget and forecasts
- Review reports on the allocated budgets to ensure compliance and highlight possible issues
- Support relevant function head with the planning process in regards to budgeting, strategic plans and periodic forecasts
- Review reports on revenue recognition and ensure revenue is allocated correctly
- Validate reports on the depreciation schedule and reconciliation

**Budget and Forecasting**
- Oversee the consolidation, monitoring and reporting of the annual budget and forecasts
- Review reports on the allocated budgets to ensure compliance and highlight possible issues
- Support relevant function head with the planning process in regards to budgeting, strategic plans and periodic forecasts
- Review reports on revenue recognition and ensure revenue is allocated correctly
- Validate reports on the depreciation schedule and reconciliation
- Review proposals for enhancements to the MAF Retail’s financial and information systems and reporting standards
- Review and validate monthly internal management reporting of results at all levels in corporation with the accounting department
- Oversee all financial reports of the organization are completed and comply with organization financial policies and standards
- Communicate developed policies and procedures related to reporting
- Present reports to senior executives, stakeholders, and board members

**Financial Control**
- Develop process to ensure all financial aspects of relevant contracts are adhered to and that contracts are renewed in a timely manner
- Oversee reconciliation of accounts is conducted periodically and reviewed as required
- Develop revenue recognition process and ensure revenue is allocated correctly, taking corrective action where inconsistencies arise
- Oversee the review of the monthly depreciation schedule and reconciliation statements
- Review the creation/deletion/revision of new vendor accounts after necessary approvals
- Oversee the development of relevant processes for reporting, benchmarks and policies for the organization and provide recommendations when required
- Ensure all financial transactions, processes, records, and books of accounts are adequately reviewed ensuring they are in compliance with International Financial Reporting Standards
- Ensure accurate and proper inter-company, bank, suppliers, advances/prepayment reconciliations are conducted and that the necessary actions are taken accordingly to maintain accuracy and safeguard the company's assets

**Capex**
- Develop the process of reviewing Capex assumptions for the appraisal of new projects and budgets, by assisting with the development of feasibility studies and providing necessary analysis
- Review the control process by staying informed on the progress of relevant Capex investments approved projects / budgets and carry out a detailed analysis, giving feedback to concerned stakeholders about possible budget risks
- Enhance value creation process by analyzing existing fixed assets details for productivity and identifying patterns applicable in new projects to maximize value creation to be recommended to concerned stakeholders
- Develop identification process of improvement areas for different stages of an investment process to identify potential for cash flow savings / synergies and create optimized investment process and assist with the implementation phase
- Facilitate support to the relevant functions by providing necessary analysis and detail of the organization Capex investment and expense process

**Human Capital Responsibilities**
- Ensure the implementation of the perf



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