Majid Al Futtaim Retail
Kuwait City, Kuwait
The Role
The Financial Controller – Store is responsible to establish a reliable financial reporting system which monitors the achievements of the store objectives and provides stakeholders in the store with relevant financial data for the decision making process in compliance with all internal guidelines and procedures. Based on sound analysis of the provided data the Financial Controller highlights risks and recommends solutions for improvement of the efficiency in order to achieve and excel agreed store targets.
– Be a role model and ensure the application of Majid Al Futtaim Retail corporate policies and guarantee the implementation of all laws , regulations and cultural practices of the operating countries are followed and respected.
– Responsible for the Performance Management of the team (this only applies when direct reports existing).
. setting particular objectives for the direct reports – once a year – which are in-line with the company and department targets
. carrying out performance analysis with regular feedback to direct reports and ensuring that this is further deployed within the team
. Identify employees with high potential, growth and proposes further development
. Identify and recommend training needs for the team/Store and follow up on the implementation (TNA)
. Develop and implement on the job-training for the team.
– Ensure that payroll is processed accurately and timely.
– Promotes and practises communication and participatory management within the team.
– Practices the company values and Guarantees the same is respected and followed by the department team members.
– Encourage initiatives and creativity within the team.
Ensure the results (financial reports, cash forecasts and accounting processes) are accurately and timely completed.
– Control the respect of budgets and forecasts and analyze variances.
– Perform monthly / yearly closings and ensure the preparation of statutory accounts (if applicable).
– Ensure implementation of auditors’ recommendations.
– Perform financial control tasks in the area of responsibility as and when required
– Respects the procedures in accordance with the DOA
– Ensures budget compliance and proposes corrective measures when necessary
– Monitoring the operational expenses and providing cost saving proposals to ensure the reduction of the overall operational costs
Requirements
– Bachelor of Finance, Business Administration or Commerce; MBA in the same field advantage
– Requires strong analytical and technical skills in financial analysis and reporting
– Requires good project management skills
– Sound knowledge of MS Office, particularly modeling in Excel
– Good presentation skills
– Knowledge of accounting concepts and some knowledge of IFRS
– Knowledge of investment appraisal process and capital budgeting
– English (Full professional proficiency – Required)
– Arabic (Limited working proficiency – Preferred)
– 3+ years – preferable as Financial Controller
– 2+ years in retail busines
About the Company
Recognized as one of the most active shopping concept developers throughout the region, the Group first introduced the hypermarket model to the Middle East in 1995. Majid Al Futtaim Retail manages Majid Al Futtaim Hypermarkets, a joint venture company with the world’s second largest retailer Carrefour, and offers shoppers the same quality, variety and value-for-money that have made the brand a household name to millions over the world.
In the last 3 years, Majid Al Futtaim Hypermarket has opened 14 new Stores. In the expansion of Carrefour across the region currently there are 37 hypermarkets in the Middle East. In the coming year of 2010, Majid Al Futtaim Retail expects to open 10 new stores.