Finance Business Partner | Al Futtaim Motors | Finance

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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