Head Of Operations- Financial Services | Al-Futtaim Finance | Dubai, UAE

Al-Futtaim - Dubai ,United Arab Emirates

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Experience Needed:
More than 10 years
Career Level:
Manager
Job Type:
Full Time
Salary:
Confidential
Languages:
Arabic, English
Vacancies:
1 open position
About the Job

Background:

  • Al-Futtaim Finance (AFF), a wholly owned subsidiary company of the Al-Futtaim Group, is a regulated finance entity focused providing finance and insurance (F&I) solutions to retail and corporate customers across the automotive and real estate sectors.
  • We are seeking an experienced and dynamic Head of Operations to join the business to support our ambitious growth strategy.

Job Description:

  • The Head of Operations will manage all aspects of the finance and insurance transactions within Al-Futtaim Finance. The operations scope includes all processes in finance and insurance applications, credit decision workflow, contract generation and all live-time events of a customer contract. Operations services are segregated in lending ops, brokerage ops, contract management and customer service.
  • The F&I brokerage setup will be streamlined and modernized under the leadership of the job holder. Technological leadership and best-in-class customer experience in the area of automotive finance and insurance are crucial for this position to establish a signature customer experience and high efficiencies.
  • The Head of Operations will assume a leadership role in the captive finance project, engage with all stakeholders and will be the operations subject matter expert.

Key Responsibilities:

Create Lean Operations and Technology-

  • Review, identify, and propose modifications to existing processes and organizational set-up
  • Oversee and establish a continuous transformation in systems and process improvement
  • Provide strategic guidance regarding technology trends in banking, fin-tech
  • Formulate technological strategies and implementation recommendations for operations and the interfaces to automotive and partner banks
  • Drive the implementation of the operations and captive finance strategy
  • Advise AFF credit department and other AFF areas regarding workflow efficiencies and IT solutions

Brokerage Ops-

  • Manage all middle and back office processes efficiently, to ensure maximum approvals and fastest TAT
  • Monitor deal pipeline and interact with partner banks as the final point of escalation
  • Communicate and report key indicators like approval rates and TAT performance
  • Develop countermeasures and ensure accountability of teams and team members
  • Develop and suggest changes in credit policy, in regular meetings with banks to address areas for business improvement
  • Define quality standards and ensure these are met and measured / audited
  • Empower and enable operations team leaders to improve TAT and approval ratios
  • Identify and coordinate training and qualification needs for processes, products, campaigns, credit and other relevant areas
  • Establish compliance standards for operations

Lending Ops / Contract Management / Customer Care-

  • Ensure all POS related processes are established and well documented
  • Develop and maintain all product and campaign related documentation
  • Ensure that pricing relevant information is handled correctly in the system
  • Ensure performance of all application and contract related checks and verifications
  • Establish internal controls for all operational risk relevant incidents
  • Manage all contract change and contract incidents in the contract management system via customer enquiry, customer portal or internal request
  • Manage all in and outbound customer contacts and ensure that all AFF communication is fully embedded in all customer engagement center (CEC) activities (organization, workflow, system, digital)

Project Management-

  • Lead all captive finance project activities including PMO
  • Provide input into all sub projects
  • Coordination of the project masterplan and consulting for sub project planning
  • Oversee all project communication
  • Manage PMO and sub project leaders
  • Organize steering committees and other stakeholder engagements
  • Liaise with Automotive PMO, EIT PMO and Group TMO functions

Leader

Job Requirements

Education:

  • University graduate with a bachelor’s degree in commerce/banking/IT
  • Qualified project management specialist
  • Strong analytics, action oriented and results driven
  • Languages: Fluent English – Arabic is an advantage
  • Effective in setting priorities and scheduling activities

Minimum Experience and Knowledge:

  • Minimum of 10 years’ experience in banking IT / Fintech in a retail / consumer banking environment
  • Substantial experience in bank or financial service operations/ back office / credit operations
  • Proven leader and motivator
  • Ability to communicate on all levels
  • Experience in Automotive sector preferred

Job-Specific/Technical Skills required to complete the tasks:

  • Technology savvy and up to date with fintech and automotive finance innovation, and technologies to streamline processes. Preferably some experience in a process-oriented role or lean six sigma.
  • Understanding of car sales and F&I process
About this Company

Al-Futtaim’s family business traces its origins back to the 1930s on the banks of the Dubai Creek, a trailblazer for innovative trading concepts designed to enrich lifestyles.

Today, Al-Futtaim is present in 29 countries, represents over 200 companies spanning the... (More)

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