Job closed
Ref: NP314-744
Job description / Role
The position is responsible for forecasting and reporting the financial and operational performance and KPIs of this market leading branded food distribution business. This will require detailed interaction with senior management across the functions of the business.
The focus of the position is on building the track record of budget v actual performance of the business from month to month and year to year in terms of trading results, performance of the brands and SKUs, cash flow, working capital and adherence to banking covenants. Detailed variance analysis will support senior management decision making and provide the answers to detailed due diligence investigations.
The business also intends to make acquisitions from time to time and the reporting of the targets will need to be bought into alignment with the company.
• Reporting of brand performance down to SKU level – for existing, new and discontinued items
• Like for like performance measures, month on month and year on year against budget and against prior year.
• Detailed investigations of variances and recommendations for improvements.
• Scenario analysis – particularly forecast return on investment and forecast cash flows for new brands and promotions / support activities for existing brands.
• Annual Budgeting process
• Obtain detailed monthly forecasts of sales, purchases and overheads from senior managers in order to build detailed trading forecasts.
• From this develop detailed cash flow forecasts and reconciled balance sheets.
• Incorporate forecasts for funding, taxation, capital expenditure and other items as required.
• Assess assumptions and challenge as appropriate.
• Adherence to timetable.
• Quarterly re-forecasting
• Reassess out turn on a quarterly basis (3+9, 6+6, 9+3) to support strategic reviews
• Working Capital KPIs - Receivable days, Payable days, Inventory days, Working capital cash cycle & Bank covenants
• Historic and forecast KPIs
• Explanation of monthly variances
• Suggestions for improvements
• Monthly Reporting Pack
• Collate all of the above as required for monthly pack by 8th working day of the next month
• Review in detail with CFO and CEO
• Weekly rolling cash flow - Obtain weekly updates of inflows and outflows, Collate and check for reasonableness, Minimise use of bank finance, Adjust prior week to actual each week and assess any implications for forecasting assumptions
• Complete each Sunday morning
• Develop plans to manage any periods of restricted cash flow
• Measure bank interest savings
• Ad-hoc analysis as required
• Acquisitions
• Disposals
• 3 or 5 year business plans
• Documenting of processes and methodologies
• For all the FP&A processes with detailed assumptions and the history of changes in those assumptions
• Other Finance processes as requested by CFO
Requirements
• Ideal Qualifications - Internationally recognized and attested Accountancy Qualification (CPA, Chartered Accountant, CMA) preferably with a Big 4 Firm
• Bachelor’s Degree
• 3 years + post qualification FP&A experience, preferably in the Middle East
Skills Required:
• Organised and efficient
• Takes pride in getting it right first time
• Integrated P&L, Cash flow & Balance Sheet forecasting
• Detailed weekly cash flow forecasting
• Fluent in spoken and written English
• Highly developed modelling skills: accurate, diligent, logical
• Always meets deadlines
• Enquiring mind – prepared to challenge information and explanations to get to the root cause
• Detailed understanding of IFRS and Saudi GAAP
• Previous experience of working with Microsoft Dynamics AX and its Management Reporter
About the Company
Inspire Selection is an award winning recruitment agency, headquartered in Dubai which recruits across the Middle East region. We employ highly knowledgeable, professional consultants who are experts in connecting the right people with the right opportunities. Our reputation has been built upon our honesty, integrity and our ability to source candidates of the highest calibre right across our specialist sectors. As a result, we are recruitment partners to a wide spectrum of organisations - from leading blue chip companies to smaller, local businesses. Sectors we cover include HR, Administration, Finance & Accounting, Legal, Sales & Marketing including Digital Marketing, IT, Oil/Gas/Energy, Engineering, Procurement, Manufacturing, Higher Education.