Associate Manager, Collections

Majid Al Futtaim invites you to join us in our quest to create great moments
for everyone, everyday! We are the leading shopping mall, residential
communities, retail and leisure pioneer across the Middle East, Africa and
Asia, serving over ‎560 million visitors a year. For the past two decades, we
have shaped the consumer landscape across the region, transforming the way
people shop, live and play, while maintaining a strong sustainability track
record and the largest mall in the world to attain LEED Gold EBOM
Certification. We have over ‎40,000 team members in ‎15 international markets
representing over ‎100 nationalities - all keeping the customer at the heart of
everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid
Al Futtaim is the destination for you.
Role Purpose:

The Collections Associate Manager is responsible for managing the West Region
Collections/AR and supports & helps regional Property Management team in
achieving Collections/AR business KPIs. It includes overseeing the Account
Receivables collections executed by (collections team - AR Task Force
Champions- LCM - Leasing - Finance), connecting with tenants, aiming for
problem solving, reviewing execution of billing cycle, following up escalated
issues, recommending mitigating measures and advising on tenants' credits
requests/TVRs/IANs.
This position plays integral role in establishing B2B relations with tenants,
external parties and internal stakeholders to ensure resolving issues related
to tenants / customers, advances, deposits, non-payments, Invoicing, Credit
Notes, IANs and tenant claims.
The Credit Controller is responsible for escalating non-resolved tenant issues
in relations to billing, collections, payments, credits, defaulting, bad
debts, etc… to provide actual, reliable and pertinent information/data
analytics on financial risks to Property Management - West Region, allowing
the SMBU Regional Management & Mall Managers to make efficient decisions.

Role Details - Key Responsibilities and Accountabilities:

Key Tasks:

Position covers all aspects linked to managing all aspects of Accounts
Receivables Collections, Tenants' dues and outstanding, and Tenants' payments
requests. Some of the key priorities include the following:
Insights & Support
* Monitor and supervise all AR outstanding collections and credit facilities activities in the West Region Malls.
* Ensure efficient coordination and timely support to WR Collections Team, Centre Administrators/Lease Contract Management/ leasing / Finance Receivables on collection matters per business requirements.
* Lead and mentor the WR Collections Team and Centre Administrators towards delivering best practice processes; and to interact effectively and professionally with other departments in SMBU as well as retailers, and other external stakeholders.
* Communicate and resolve all billing, account receivables, reporting, and control issues within the West Region malls.
* Identify and recommend improvements in the policies and procedures in relation to matters within the region/country.
* Review and validate tenants' insurance claims and payment credit requests for all assets within the region/country.
* Support the business units and management on all queries and provide data analytics when requested.
* Build and maintain a strong relation with tenants / internal stakeholders to ensure all dues are settled.
* Coordinate with legal department on collections matters related to legal notices and provide support and accurate information.
* Prepare weekly update on collections and delays to provide it to decision makers.
Control & Stewardship
* Constantly work with Finance to reconcile and analyze tenant or client accounts for outstanding amounts, advance, and deposits, identify and resolve in case of any dispute.
* Liaise with Finance Receivables to ensure billing cycle efficiency.
* Solicit the WR Collections Team to minimize their malls' AR outstanding and achieve KPIs related to collections as set by senior management.
* Report weaknesses in the internal related control system in the region/country, identify improvements, and accordingly recommend preventive/corrective procedures.
Reporting and Transaction Processing
* Weekly Review of the daily collections and related accounting transactions ensuring:
o Collections are tracked,
o Follow-ups are done on timely manner,
o Issues are identified in pro-active manner and being handled appropriately
o Correctness and mitigation measures are in place
o Proper escalation is conducted as per policies.
* Work with all parties to ensure the tenants' accounts reconciliations are done as well as follow-up on pending issues until resolved.
* Follow the AR and collections of predefined regional accounts that are beyond the malls' control and ensure all jobs are done before closing.
* Assist in reviewing/preparing ad-hoc analysis, tracker, reporting, and other various tasks related to areas of responsibility.
Compliance
* Ensure that collections and follow up with debtors is following International Financial Reporting Standards and local regulations as well as MAFP applicable financial policies and procedures.
* Ensure compliance with applicable tax laws and regulations related to his / her section.
* Ensure achievement and compliance with targeted KPIs for the Account Receivables are tracked and communicated properly.
* Help to establish internal KPIs to improve the efficiency and performance; such as:
o Percentage of collections from total AR outstanding monthly.
o Monthly KPIs and targets
o Collection of AR outstanding by tenant, by group, by mall, by country
Analysis & Reporting
* Analyse AR performance indicators of the shopping centres, comparing them with pre-set targets and with previous years
* Revise reports format, eliminate overlapping, re-group reports and unify the reporting process across the region.
* Monitor and support East Region Shopping Centre Administrators in their deliverables and reporting.
* Monthly Management Reporting by mall:
* Collections Performance vs. Target
* Issues categorization and actions planning
* efficiency Tracking
* Risk identification and mitigation plans