Credit Risk Manager

Job description / Role

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.

Overview of the role

The Credit Risk Manager is responsible for the assessment and management of credit risk for both leasing and inhouse finance within the Al-Futtaim Automotive divisions. This role involves detailed analysis of credit portfolios, development of risk management frameworks, and underwriting services for various credit applications. The manager will escalate cases beyond their authority and receive escalations from lower levels, contributing to both governance and policy development initiatives. Success in this role will involve optimizing risk assessment processes, maintaining robust reporting mechanisms, and fostering technology improvements to streamline credit decision-making processes.

What you will do

Credit risk management

• Engage in credit risk assessment for leasing and inhouse finance.
• Support the development of a credit risk framework, including risk policy guidelines, policy renewal program, and portfolio credit management.
• Perform detailed analytics of underwritten portfolios and collections data.
• Create risk reporting dashboards for various segments and countries.
• Proactively monitor key credit risk metrics relating to product, channel, exceptions, and vintage performance.
• Document performance versus risk profiles and thresholds and provide improvement suggestions.
• Develop analytics to support potential changes to credit policies.

Underwriting

• Underwrite lease applications from individuals for up to 2 units, subject to change based on volumes and skills.
• Underwrite lease applications from corporates for up to 30 units, requiring detailed bank statement reviews.
• Underwrite credit applications from individuals for finance amounts above specific thresholds (up to AED 200k).
• Underwrite credit applications from corporates for finance amounts below AED 1 million, requiring detailed bank statement reviews.

Risk governance

• Submit risk newsletter, risk council deck, and credit committee deck within deadlines.
• Implement and monitor credit delegation framework in line with group and risk requirements.
• Support the development of technology infrastructure including deployment of IT systems.
• Manage annual policy review and portfolio thresholds.
• Ensure understanding and acceptance of risk criteria and KPIs across all levels.
• Create and manage a training program for enhancing capabilities and risk decision-making.

Required skills to be successful

What qualifies you for the role

About Al-Futtaim Real Estate

With a legacy of more than six decades in real estate and asset management, Al-Futtaim Real Estate – part of Al-Futtaim – creates real impact on the communities it serves through long-term investment and growth. As one of the region’s leading private developers, the company plans, creates and manages developments across the MENA region.

Al-Futtaim Real Estate has a diversified, multi-billion-dollar portfolio across the real estate value chain and asset types such as residential, commercial, malls and industries including hospitality, healthcare, infrastructure and education. Flagship mixed-use urban communities include Dubai Festival City and Cairo Festival City.

Al-Futtaim Real Estate is also responsible for Al-Futtaim Contracting, a fully integrated, end-to-end specialist division operating across the UAE, Saudi Arabia, Qatar and Egypt. The business has delivered industry-leading construction, engineering, technology and FM solutions for more than 50 years.

About the Company

Established in the 1930s, the Al-Futtaim Group initially operated as a trading enterprise. Rapid development throughout the 1940s and 50s saw it establish itself regionally as an integrated commercial, industrial and services organisation, positioning itself one of the leading business houses in the lower Gulf region. Today, it operates collectively over 40 companies bearing the Al-Futtaim name, dominates many market segments in the UAE, and has expanded its sphere of operation to include Bahrain, Kuwait, Qatar, Oman and Egypt.

The Group comprises a diverse range of strategically positioned operating subsidiaries and associate companies, structured to give the Al-Futtaim Group the flexibility and versatility to keep ahead of local competition while keeping pace with the ever-evolving global business scenario. The Groups continued investment in world-class systems technology is clear evidence of its commitment to maintain leading edge performance and service delivery.

The success of the Al-Futtaim Group can be attributed to a business approach that combines the ability to change with the traditional values of integrity, service and social responsibility that define its core business philosophy. This, linked with the Groups belief in decentralisation, gives the heads of the operating companies a high degree of functional autonomy and authority, providing the Group with essential flexibility, and individual employees a clearly defined work culture and sense of responsibility.