Finance Associate

Role Overview

As a Finance Associate at Majid Al Futtaim Retail within the Hypermarket division in KSA, you will play a pivotal role in maintaining the financial integrity of our operations. Your responsibilities will encompass a broad spectrum of accounting functions, including payables, payroll, asset management, and general ledger postings. This role is designed to ensure that financial data is accurately recorded, processed, and reported in strict adherence to MAF Retail’s established accounting principles and procedures, thereby supporting the organization’s financial health and compliance.

Key Responsibilities

• Financial Data Management: Collect, verify, and process financial data related to accounting activities to ensure precision and reliability in all financial records.
• Purchase Ledger Maintenance: Oversee and review purchase ledgers to confirm that all expenses are accurately recorded and monitored against budgetary allocations, ensuring financial discipline and accountability.
• Invoice Verification and Processing: Scrutinize invoices for payment to validate their accuracy and authenticity before processing, thereby mitigating the risk of financial discrepancies or fraudulent transactions.
• Vendor and Contractor Payments: Execute payments to vendors and contractors in accordance with contractual terms, including advance payments and penalties, while ensuring compliance with payment schedules and financial policies.
• Bank Reconciliation: Conduct thorough bank reconciliations for all accounts across multiple banking institutions to align journal entries with bank statements, identifying and resolving any discrepancies promptly.
• Adjusting Entries and Supplier Accounts: Review adjusting entries to ensure supplier accounts are updated accurately, and implement necessary controls to maintain financial integrity and transparency.
• Month-End and Year-End Closing: Lead and support the month-end and year-end closing processes, ensuring that all financial entries are booked efficiently, accurately, and in a timely manner to facilitate reporting and decision-making.
• Financial Reporting: Prepare and review monthly, quarterly, and annual accounting statements and managerial reports with a focus on accuracy, timeliness, and compliance with regulatory standards.

Qualifications and Experience

To excel in this role, you must possess a Bachelor’s Degree in Accounting or Finance, complemented by 1-2 years of relevant professional experience. Prior experience within the FMCG industry or hypermarket sector is highly desirable, as it provides valuable insights into the unique financial dynamics of retail operations. Additionally, strong analytical skills are essential to interpret financial data, identify trends, and support strategic decision-making.

Why Join Majid Al Futtaim?

At Majid Al Futtaim, we are committed to creating exceptional experiences that bring joy and lasting memories to our customers. With a legacy of over 27 years as a regional leader, we pride ourselves on fostering an inclusive and dynamic work environment where innovation and collaboration thrive. By joining our team, you will become part of a diverse and talented workforce of over 45,000 colleagues, all united by our Leadership Model and shared vision for the future. Together, we build a workplace where positivity, growth, and excellence are not just encouraged but celebrated.