Chief Finance Officer
About Al-Futtaim
Established in the 1930s, Al-Futtaim is one of the most diversified and progressive privately held regional businesses, headquartered in Dubai. Operating across more than 20 countries, the group spans automotive, financial services, real estate, retail and health. With more than 40,000 employees, Al-Futtaim represents over 200 of the world’s most recognised brands, including Toyota, Lexus, IKEA, ACE and Marks & Spencer. Driven by its purpose to enrich lives and elevate communities, Al-Futtaim focuses on digital innovation, AI, sustainable growth and strategic partnerships, creating long-term value for customers, communities and partners while building a responsible legacy for future generations.
Job purpose
To analyze and report financial information for making informed management decisions and to manage related records in an efficient manner consistent with group policies, international accounting standards and federal laws.
Key accountabilities
Description of the accountability
Performance indicators (how accountability is measured)
- Financial management
- Cost control
- Capital and asset management
- Investment planning and budget control
- Operational management
- Internal controls and MIS development
- Customer centric
- Satisfaction of internal and external stakeholders
Job context
Financial records
Maintain accounts and financial records pertaining to underwriting and financial transactions in accordance with the international accounting standards and group policies in order to comply with the requirements of federal laws relating to companies and insurance business.
Internal control and system development
Develop and implement effective internal control systems and procedures to ensure that all the assets and interests of the company are secured and not subject to any risk. Conduct constant review of the transaction processing systems and methods to ensure all transactions are correctly and accurately reflected in the books of account and implement appropriate modifications in order to meet the changing business needs.
Budgets
Formulate the annual budget and quarterly reviews and monitor its performance against budget and business objectives. Ensure that management is accurately and timely informed about the financial status and results of the company.
Management information / statutory reports
Compile, collect and prepare reports on underwriting and financial matters for timely submission to management, reinsurers and concerned government departments in order to facilitate decision making and comply with the stipulated requirements.
Working capital management
Plan and organize the company’s financial resources in order to effectively manage working capital to meet the cash flow requirements.
Investments of surplus funds
Develop an effective investment strategy for placement of surplus funds in order to maximize investment yield and income.
Financial planning
Assist in formulating the company's future direction and supporting tactical initiatives. Monitor and direct the implementation of strategic business plans at overseas entities. Ensure development of financial strategies and performance measures that support the company's overall strategic direction.
Qualifications, experience, and skills
Minimum qualifications and knowledge:
Chartered accountant or equivalent.
Minimum experience:
10-15 years experience in a progressive organisation (including 5-7 years in a senior managerial position).
Job-specific skills:
General insurance with particular emphasis on marine, hull and cargo, non-marine, motor, life and medical.
Accounting principles and conventions.
Behavioural competencies:
Strong interpersonal and analytical skills.
Excellent communication skills and analytical ability.
Excellent presentation skills.
About Orient Insurance PJSC
Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 million which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman, Riyadh in Kingdom of Saudi Arabia and Bahrain.