Finance Accounts Executive | Watsons | Dubai

Overview of the role:

• Financial Planning & Analysis Support
• Monthly MIS preparation and reports distribution
• Vendor Management and reconciliation
• Manage Vendor Support and Rebates/Funding Claims
• Review and validate intercompany charges for acceptance
• Support Month-End/Year-End Closing (MEC/YEC) Activities and Post-Closing Activities
• Fixed Assets (CAPEX) and Work-In Progress monitoring
• Balance Sheet Substantiation Support

What you will do:-

Description of Accountability:

Financial Planning & Analysis Support

• Support budgeting, quarterly forecasting including strategic planning exercise (by country, by store, by channel and by function)
• Collaborating with different teams within the division (e.g. RSD, Leasing, Facilities Management, DRT) to collate and analyze information for budgets/forecast inputs.
• Collaboration with different budget holders/internal department (Marketing, E-Com, Logistics, Planning & HR) to collate inputs for budgeting and forecasting exercise.
• Liaise with planning team to build and make recommendations on Open-to-buy (OTB) for Inventory optimization.
• Conducting variance analysis by analyzing actual results versus planned and prior periods and identify any potential risks and red flags that will impact future financial performance.

Monthly MIS & Reporting

• Support the preparation of monthly and quarterly reporting deck of Watsons for senior management focusing on key performance indicators (KPI) and detailing financial performance relative to plan and suggest action plan for improvement.
• Prepare and distribute store-wise Monthly P&L.
• Assists in conducting Financial Performance reviews and analysis with different budget holders and highlight any red flags/risks.
• Work with Retail FP&A and Group Finance to ensure integrity in financial planning function and perform analytical analysis supporting executive management understanding of divisional performance.

Vendor Management and reconciliation (Including Inter-company Charges)

• Support back office and store operations in dealing with 3rd party vendor inquiries by liaising with I2P and APSSC
• Support in resolving vendor\xe2\x80\x99s long outstanding overdue and payment issues by liaising with store operations, P&C, I2P/APSSC.
• Manage Non-Merchandise Non-PO Bills ensure the appropriate GL\xe2\x80\x99s and Cost Centers to be charged and are being submitted and paid as per credit terms.
• Manage and track Non-Merchandise PO\xe2\x80\x99s ensure no open PO\xe2\x80\x99s aged more than 60-days.
• Raise cross charges against vendors/principal and track settlement

Manage Vendor Support and Rebates/Funding Claims

• Validate calculations from system for vendor funded promotions and contractual rebates.
• Verify and cross check front-end margin yield for the period versus agreed JBP between the business and vendors.
• Monthly invoicing of promotional and contractual rebates against vendor and instruct for reversal of any provisions
• Periodic monitoring of other income (window support, New Store opening etc.)

Review and validate intercompany charges for acceptance

• Work closely with Central Controlling Team in clearing open intercompany charges in IC Module.
• Work closely with R2R\xe2\x80\x99s ICM Accountant to review and validate supporting documents on Intercompany Charges for acceptance
• Review and take actions on open intra-company charges for manual acceptances.
• Focus on clearing legacy balances (Support the broader projects around Interco clean up)

Support Month-End/Year-End Closing (MEC/YEC) Activities and Post-Closing Activities

• Maintain up to date accruals/provisions and prepayments (Non REFX) schedules for closing activities
• Work closely with internal stakeholders for monthly provisions requirement and accruals
• Work closely with R2R for accrual/provisions posting and reversals
• Review reasonableness of accruals/provisions posted
• Conduct monthly cost and expenses analysis by store and by channel
• Other tasks (e.g., SAP BPC Uploads) required post-closing of the period

Fixed Assets (CAPEX) and Work-In Progress monitoring

• Work closely with Project\xe2\x80\x99s Team (RSD) to review all work-in-progress for all new stores
• Monitor Capital Work-in-Progress (CWIP) account for potential capitalization
• Raise CAPEX form (as needed basis) for all Brand spending or from charges flowing from IC
• Module (e.g., EIT charges, New Store Development, Franchise Fees etc.)

Balance Sheet Substantiation Support

• Support the broader projects around balance sheet substantiation.
• Continuously and work closely with R2R Team for Monthly Balance Sheet Review (BSR) to identify red flags and misstatement and take corrective actions.

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