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Finance Business Partner | Al Futtaim Motors | Finance
Overview of the role:
As a member of Finance team – to support the branch operations (Sales and After sales) – on (a) provide various reports and analysis on periodic and ad hoc basis. (b) decision support for budgeting / forecasting / MIS and KPI achievement (c) ensure compliance with company policies and procedures with major emphasis on – cash control, sales accounting and approvals credit controls & approvals, stock controls, audit report follow-up and (d) day to day internal controls review and improvement.
What you will do:
Preparing Budget and forecasts
- Take lead and drive the budget activity within the management function.
- Supporting FM and Director with Preparation of site wise Annual Budgets, Monthly/Quarterly Forecasts,
- Consolidate and validate the budget/ forecast submission from the respective business and arrange the review with business management
- Upload the budget / forecast in SAP as per schedule
Reporting and MIS
- Prepare reports/analysis for monthly detailed reviews to be held with Director, BUFM and Other Management including reports for Margin and expense analysis at various angles.
- Prepare various other regular (daily/weekly/monthly/yearly) and ad hoc reports for management.
- Review balance sheet GLs and identify the misstatements in balance sheet GL and take lead in coordinating with different stakeholders to clear these misstatements.
- Assist in month end close process make sure necessary entries related to provisions, accruals, prepayments etc are made in the books.
Financial Performance Review
- Perform regular detailed level (Sales & Aftersales) Financial reviews and variance analysis with business Management for ensuring that business performance is in line with relevant budgets/Forecasts
- Support Management in establishing and reviewing the KPI trends (Sales & Aftersales), summarize key findings and suggest improvement plans.
- Regularly monitor and control indirect costs (Facility Maintenance, MPC including casual labours, Distribution cost, utilities, data processing, stationery, cafeteria etc) review actual cost incurred and correct wrong posting if any.
- Ensure various cross charges and allocations are correctly charged and posted in respective period before book close.
Commercial support
- Supporting Management in synergising process and costs between sales, aftersales and other brands within the same location.
- Check and ensure that adequate provisions are booked before close of month to reflect right profitability.
- Validating CAPEX cost requirements and ensuring that these are within budgeted levels.
- Prepare AFE for new projects and perform post review for Capex spent.
- Validate the data provided in different requests submitted by business.
Sales Accounting and cash control
- Oversee via the Branch Accountants and Accounts Assistants to ensure all documentation is complete as per company procedures for all Finance / Cash / Credit / Inter and Intra company deals for Sales & Aftersales.
- Reviewing all petty cash payments, test checking daily collections and deposits to ensure compliance
- Ensure through branch Finance team the release of VCC, Sale letter & Gate passes (Sales & Aftersales) are in line with company procedures.
- Validation through test checks of Sales document pack /LPO and credit approval or clear funds/ registration copy and delivery to ensure process compliance.
- Ensure that refunds are processed by branch within the sub-delegated authority with proper documentation and those beyond Branch authority are processed through Central Finance (FSSC).
- Check and validate all agreed check list before confirming passport release of branch staff.
- Liaise with Central Finance (FSSC) and other departments to ensure that all intercompany transactions, upsell recoveries, Pricing differences etc are regularly reconciled and kept on track
Stock, Insurance & WIP controls
- Ensure Stock controllers adhere to standard documentation and procedures about stock movements and best practices followed on stock management of on-site stocks including Demo/display/Damaged stock.
- Ensure adequate insurance coverage is in place for dealership stock, cash, assets and other components at all times.
- Review periodical physical inventory (Units and Parts) and reconciliation to ensure physical stocks match with the system stocks.
- Participate in and support the smooth conduct of Annual stock counts (Units and Parts)
- Monitoring of aftersales WIPs at branches regularly and ensure timely closing of job cards to ensure revenue recognition as per IFRS
Credit Control & AR Collections
- Review with Sales team (sales & aftersales) on overdue and collection on regular basis and provide status report to Branch Management and BUFM
- Facilitate through Branch Finance team, timely submission of Finance deal packs and provide support and follow up with AFF for early collection of bank debts.
- Any deviation or pending cases for clearing to be highlighted to management for escalation.
Policy, Procedures and Audit recommendations
- Ensuring that all Finance SOPs are adhered to by the branch and adequate advice is provided in compliance matters (INDs, DNIs export sales etc.)
- Continuous review of existing policy and procedures and recommend improvements to strengthen internal control.
- Facilitate external or group internal audit review of business or branch operations and ensure timely implementation of audit recommendations
- Coordinate with various stakeholders at group/entity or department level on arranging various requirements for external auditors.
Leadership
- To lead and supervise the finance team of all responsible Branches (Sales & Aftersales)
- Provide appropriate trainings to the Branch Finance team from time to time.
Ad hoc tasks & Projects
- To carry out Ad Hoc tasks/reports as defined by the BUFM / Branch Management / GM or any other member of Senior Management.
- Involve into Projects representing various business areas as and when required
Skills
Required Skills to be successful:
- Chartered accountant
- Automotive experience
- ERP or SAP experience
- Minimum of 5 years’ experience
