Finance Business Partner

1 month ago

United Arab Emirates Al-Futtaim Full time
Finance Business Partner | Al Futtaim Motors | Finance

Overview of the role:

As a member of Finance team \xe2\x80\x93 to support the branch operations (Sales and After sales) \xe2\x80\x93 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

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