About The Business:
Toyota, Honda, Marks & Spencer's, Ikea, Toys R Us and Dubai Festival City are just some of the amazing stable of world renowned brands managed by the Al Futtaim Group of Companies. Established in the 1930s as a trading business, Al-Futtaim is one of the most progressive regional business houses in the Gulf region. Today, Al-Futtaim operates through more than 65 companies in sectors as diverse as commerce, industry and services, and employs in excess of 20,000 people across the UAE, Bahrain, Kuwait, Qatar, Oman, Egypt, Saudi Arabia, Sri Lanka, Syria, Pakistan, Singapore and Europe.
Automotive Finance Shared Services is a department under Automotive handling the back office functions related to accounting for Automotive. AFSS handles Accounts Receivables, Accounts Payables, General Ledger Accounting, Reconciliations, Sales Accounting and annual closing and audits for the Automotive Division of Al-Futtaim.
About The Role:
Reports to: Finance Manager/Account Manager
Direct Reports: None
Department: Automotive Finance Shared Services
Locations: Dubai
JOB PURPOSE:
As a member of AFSS - to support the Department Head to ensure compliance with company policies and procedures with major emphasis on cash control, sales accounting processes and approvals, Credit Request Reviews and Accounts Receivable follow up and General Ledger Reconciliations and Vendor reconciliation and Payments.
DESCRIPTION:
* Sales Accounting and Cash control
* Review of daily collection and deposit of cash and cheques by branches and scrutinise GL control accounts for exceptions.
* Validation of Sales document pack /LPO and credit approval or clear funds/ registration copy and authorise final release of the vehicle for customer delivery.
* Refunds are processed within the sub-delegated authority /documentation and facilitate refund process with AFSS for beyond authority levels.
* Check and validate all agreed check list before confirming passport release of branch staff as applicable.
* General Ledger reconciliation
* Monthly reviews of General Ledger /trend analysis, process improvement, streamline process across automotive companies.
* Providing analysis and reports related to open line item in General ledger and taking required action to clear.
* Providing support in yearly stock audit and yearly closing of books.
* Reconciling of GL Accounts, preparing ‘action-triggering' schedules and taking timely action to resolve any issues.
* Accounts Receivable & Credit Control
* Process credit application request from Business. Maintain approval and relevant documentation as per approved credit deals
* Authorise credit requirements within the framework of sub-delegated credit release authority from AFSS.
* Periodic customer's account Reconciliation and Account clearing.
* Accounts Payable
* Processing payment s to vendor and suppliers within established time limits and ensuring that expenses are correctly booked.
* Preparing and monitoring the payroll system. Ensure that staff payment is paid in a timely and appropriate manner.
* Reconciling Vendor balances and creating monthly accrual.
PERFORMANCE INDICATORS:
* Immediately Highlight deviations and take corrective action.
* Adherence to Policy Procedures by flagging exceptions immediately through an ongoing review of branch operations through both substantive checking of transactions and branch visits.
* Reconciliation completed and schedules prepared each month.
* Timely and meaningful analysis prepared.
* Timely processing of credit requests and approvals to ensue customer service levels are met.
* Exception reporting and ensuring overdue are collected in time.
* Timely processing of Payment and approvals to ensure Vendor and staff service levels are met.
* Reconciliation and schedule to be prepared each month end.
JOB CONTEXT:
Job holder is required to interact with AM/FM - AFS
Job Details
Date Posted:
2014-06-04
Job Location:
United Arab Emirates
Job Role:
Accounting/Banking/Finance
Company Industry:
Accounting/Auditing
Preferred Candidate
Career Level:
Mid Career
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