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About Al-Futtaim Private Company LLC
No two days are the same at Al-Futtaim, no matter what role you have. Our work is driven by the desire to make a difference and to have a meaningful impact with the goal of enriching everyday lives. Take our engaging and supportive work environment and couple it with a company culture that recognises and rewards quality performance, and what do you get? The chance to push the limits every single day.
As a humble family business that started on the banks of the Dubai Creek in the 1930s, Al-Futtaim has expanded to a presence in 31 countries, a portfolio of over 200 companies, and 42,000 employees. You’ll find us in industries ranging from automotive and retail, to finance and real estate, and connecting people with international names like Lexus, Ikea, and Adidas. Our team is proudly multicultural and multinational because that kind of diverse representation gives us the global mindset to grow and impact the people, markets, and trends around us.
About Al-Futtaim IKEA
We are a values-driven company with a passion for life at home. Our vision is to create a better everyday life for the many people.
Al-Futtaim IKEA holds the franchise rights for IKEA in Egypt, Oman, Qatar and the United Arab Emirates.
Work together with the Store Management team members in an inspiring, supportive and challenging way in order to steer the Store towards growth, optimal performance and sustained long-term profitability, in line with IKEA & Al-Futtaim objectives and values.
KEY ROLE SPECIFIC ACCOUNTABILITIES:
CASH OFFICE OPERATIONS
- Oversee and control the cash office functions and ensure daily/ weekly and monthly routines are followed.
- Perform necessary Audit measures to ensure that daily reconciliation of collections are true and fair in all aspects.
- Audit the cash in the Business Navigation department.
- Accountable for Cash Office transactions including the following :
- Daily reconciliation of store takings & reporting.
- Forex reconciliation and monitoring of exchange rates.
- Cheques collection and control.
- Tally of safe fund daily.
- Credit Card reconciliation.
- Gift Vouchers redemption and reconciliation.
PROCESS AND COMPLIANCE
- Follow up on previous audit reports & check implementation of audit recommendations (including
- Support the Regional Office in creating, amending SOPs to improve the operational efficiencies, without compromising on the operational standards.
- Maintain store SOP library (digital and physical) for store team access as necessary.
- Ensure total compliance of IKEA and Al-Futtaim policies as applicable for operations & financial aspects.
- Manage and control all IT types and ensure audit compliance on stock movement.
- Achieve recovery index goals while minimizing recovery stocks.
- Analyze increase in inventory stock movement and discuss with store management ways to optimize.
FINANCIAL & OPERATIONS
- Manage and share the following with store team:
- o Store sales tree: daily, weekly, monthly & yearly.
- o Budgeting and forecasting : mid-month flash, monthly, quarterly , yearly, and 5/10 year.
- o Store Business yearly business plan.
- o CAPEX plan and execution.
- o Manpower budgeting.
- Analyze & discuss store P&L performance on monthly basis with store team and follow up on discussed action plan.
- Understand and help the Store Manager to control expenses in the P&L for the Store and identify areas of opportunities and highlight out of line situations.
- Ensure that all administration routines are followed across the Store and show a proactive approach in suggesting checks and corrections in the store operational processes.
- Work with department head to in vendor/supplier selection process to ensure best possible service at lower cost.
- Accountable for preparation ROI for all activities and investment in coordination with store team.
- Ensure that accurate reports are provided to the store/regional office management consistently to meet reporting deadlines.
PEOPLE MANAGEMENT & DEVELOPMENT
- Develop cash office co-workers to maximize efficiency and future development.
- Active involvement in Store Manpower planning with aim to maximize productivity.
- Active involvement in staff planning process for store to ensure coverage to maximize manpower productivity.
- Lead staff planning process in store to maximize utilization of co-workers ( right number, right time, right
- Lead and train the team to be able to carry out all cash office and admin/audit functions.
- Ensure training plans and development plans are in place for Recovery & Cash Office teams, with the support of L&D.
- A University Degree in Business Administration/Finance/Commerce
Minimum Experience and Knowledge:
- Minimum of 5 years finance & accounting experience preferably in retail industry.
- Experience in Audit & managing teams/departments.
- Advanced user of MS Office apps, especially Excel.
- Must have strong analytical and tactical planning abilities
- Must have a highly developed understanding of retail operations
- Must have an interest in home furnishings
Job-Specific/Technical Skills required to complete the tasks:
- Budgeting and forecasting knowledge and skills.
- Cost management.
- Business & financial analysis.
- Very Good Command of English language.
- Very Good Command of Arabic language is preferred
Behavioural Competencies & Interpersonal skills:
- Must have excellent Communication skills
- Must be able to share their knowledge and learning with others
- Must have the ability to build solid working relationships
- Good coaching & training skills.
- Ability to bring out the best in Co-workers and to motivate and develop the organisation
- Ability to create an environment where the IKEA values are a strong and living reality that embraces the diversity of Co-workers and visitors
- Business Acumen.
- Problem Solving skills
We’re here to provide excellent service but a little help from you can ensure a five-star candidate experience from start to finish.
Before you click “apply”: Please read the job description carefully to ensure you can confidently demonstrate why this opportunity is right for you and take the time to put together a well-crafted and personalised CV to further boost your visibility. Our global Talent Acquisition team members are all assigned to specific businesses to ensure that we make the best matches between talent and opportunities. We not only consider the requisite compatibility of skills and behaviours, but also how candidates align with our Values of Respect, Integrity, Collaboration, and Excellence.
As part of our candidate experience promise, we also want to make ourselves available to you throughout the application process. We make every effort to review and respond to every application.
Additional Internal Information:
• Reports to:
You must have been an Al-Futtaim employee for at least 18 months in order to be considered.
You must inform your HRBP in confidence of your application.
Please note that this vacancy may be advertised externally in the next week so apply without delay.