Senior Accountant - Treasury Back Office

Job Requisition ID: 161474

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions automotive, financial services, real estate, retail and healthcare employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group's entrepreneurship and relentless customer focus enables the organization to continue to grow and expand responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration and integrity Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day

We are currently seeking an experienced finance professional to join our Finance Shared Service Center team in the capacity of Senior Accountant - Treasury Back Office

Overview of the role
As a member of the Bank reconciliations team you will be supporting the Divisional Finance Controlling teams and the Business Units in ensuring timely reconciliation of the Group's bank accounts and reporting in relation thereto and also supporting the business units in enhancing customer experience by timely performing the activity of credit confirmations.

In addition, you would be responsible to ensure that all open line items timely escalated to, followed up with and resolved by relevant internal stakeholders (such as Global Treasury Centre, FSSC- I2P, FSSC- O2C, FSSC- R2R, Business Finance, Divisional Financial Controlling etc). and external stakeholders such as banks. What you will do

• Run the scheduler to automatically clear open line items where matching references exist.
• Perform manual matching of open line items wherever possible after ensuring adequate matching criteria exist and due confirmations are obtained
• Ensuring that all the open line items at the end of the day are reported to relevant internal stakeholders- Business Finance, Divisional Financial Controlling, FSSC-O2C, FSSC- I2P, Global Treasury Centre etc. for timely investigation and resolution.
• Ensuring that any open items that needs investigated at the banks' end are reported to the banks for investigation and resolution
• Ensuring that any instances of cheque dishonours and amounts debited by bank but not accounted by us are promptly bought to the ntice of businesses/other concerned stakeholders.
• Ensuring that all month end submissions in relation to bank reconciliation statements are carried out
• Identifying, tracking, and reporting of KPIs to Senior Management.

General ledger

• Ensuring reconciliation of GL and highlighting the risk and process correction.

Accounting and Audit:

• Ensuring all bank charges are accounted in consultation with Treasury and FSSC-I2P.
• Supporting internal and external audit processes in relation to bank reconciliations

Continuous follow-up, escalation and resolution of open line items

• Ensuring that all the open line items in the Bank reconciliations are reviewed daily and followed up and escalated timely to ensure a timely resolution and clearance

Process and system improvement initiatives:

• Identifying opportunities for improving systems and processes for timely clearance, reporting and resolution of open line items in the Bank reconciliation process and in the upstream collection/ payment processes.
• Leading the implementation of the process improvement initiatives including those relating to Clearing automation levels.

Required skills to be successful

• Experience with ERP and information systems, including planning, implementation and monitoring.
• Proficiency in MS Office (Word/ Excel/ PowerPoint/MS Projects)
• Working knowledge of SAP
• Excellent analytical, reasoning and problem-solving skills

What equips you for the role

• A bachelor's/master's degree in commerce/financial management/ accountancy with more three years of experience within the bank reconciliations function of a medium to large organization or banks.
• Excellent Coordination and stakeholder management skills
• 5-7 years of well-rounded experience in the field of bank reconciliations & GL reconciliation.

About Al-Futtaim Retail

Al-Futtaim Retail has established itself as one of the leaders in Retail across the Middle East, Africa & Asia over the past 30 years. We have developed partnerships with some of the biggest and most respected Brands in the world including IKEA, ACE and Toys R Us in the Middle East and the Inditex Group of Brands (Zara, Mango, Bershka and P&B) across Asia. We are also one of the largest Global partners of Marks and Spencer's in both regions with over 75 stores offering both fashion & food options. Most recently we have been responsible for bringing brands to the Middle East for the first time with the exciting launches of Watsons and B&Q and we aim to continue to be agile and adaptive to our markets with new launches and further development. For this to be possible we aim to recruit the best talent from all backgrounds who will continue to challenge and develop our diverse workforce which includes over 100 nationalities across 12 countries. Join us today and make a difference…