Assistant Manager - Finance

Job description / Role

Budgeting, Cost Control & MIS

- Assist in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions
- Coordinate the setting up of sales projections and of purchase budgets based on projected sales for each shop in the territory and each department
- Coordinate operational, seasonal, buying budgets with the various management teams, including financial projections and cash flow statements, and ensure that they are prepared and finalized
- Analyse budgets of the Concept and Territory operations monthly, discuss and revise allocations if necessary
- Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget for:
- Conduct reviews and evaluations for cost-reduction opportunities
- Deliver set standards of MIS reports for various departments, ensure timely preparation and presentation of periodic MIS and interpret data to suggest ways of cost optimization and store performance improvement
- Exercise necessary budgetary controls on all costs incurred by the Territories, ensuring that they comply with the drawn budgets
- Coordinate with marketing for providing inputs on Margins, Mark Downs for promotions, campaigns and in-season activities like sales
- Evaluate and present feasibility of new projects and assess the financial implications of new or existing stores/ventures
- Monitor Capital Expenditure plans for various territories

Accounting and Audit

- Ensure proper approval, authorization of all payments and ensure accuracy in timelines and accuracy in all payments
- Develop and maintain systems for prompt and accurate collection of financial and accounting information
- Supervise online accounting and ensuring accuracy of all transactions
- Ensure scrutiny and timely payment to all suppliers and supplier accounts reconciliation
- Ensure creditors accounting and the non - RNA company accounting is taken care of
- Supervise timely and accurate internal audits and finalize Accounts for the Concept
- Review and validate Payroll, Overtime payments and Incentives on time
- Manage all staff requirements like Salary Certificate / PP / HRA Approval etc
- Review and authorise banking transactions
- Review and Authorize Petty cash / Medical / Leave Settlement vouchers
- Review and approve Supplier payments

Warehousing, Inventory and Logistics

- Ensure optimal / economic stock holding
- Negotiate and review arrangements with local purchase suppliers, non trading material suppliers
- Supervise, control and authorize all purchases (local non Trading)
- Help the corporate team in managing and overseeing in-bound and outbound logistics activity
- Coordinate with the central warehouse for receiving, warehousing and delivery of product in a manner consistent with Concept service and cost objectives
- Monitor freight forwarding by logistics partners
- Ensure timely delivery of shipments to various territories along with Imports Department / RNA

People Management

- Manage the performance of the team - set annual performance goals, monitor performance and provide constructive feedback to improve performance.
- Identify their training and development needs and ensure their fulfilment
- Develop and mentor subordinates to move to the next higher level of job through career planning
- Ensure compliance to Company policies and values

Miscellaneous

- Implement improvements in business processes as directed by Head - Finance
- Represent the Concept in all financial matters with banks, auditors and other relevant parties
- Train and educate the team members about errors/new developments
- Ensure that all the Concept assets are safeguarded
- Coordinate for Project execution (New Stores / Warehouse) requirements (if applicable)
- Coordinate with the corporate legal team for any legal matter of the concept

Requirements

Qualifications
Budgeting, Cost Control & MIS

- Assist in the formulation of the corporate strategy for the year and finalization of annual targets along with other functional heads to implement the strategic directions
- Coordinate the setting up of sales projections and of purchase budgets based on projected sales for each shop in the territory and each department
- Coordinate operational, seasonal, buying budgets with the various management teams, including financial projections and cash flow statements, and ensure that they are prepared and finalized
- Analyse budgets of the Concept and Territory operations monthly, discuss and revise allocations if necessary
- Monitor the income and expenses versus budget, track the variances, recommend corrective actions and follow-up on remedial actions to ensure the adherence to the budget and to support the effective monitoring of performance within the budget for:
- Conduct reviews and evaluations for cost-reduction opportunities
- Deliver set standards of MIS reports for various departments, ensure timely preparation and presentation of periodic MIS and interpret data to suggest ways of cost optimization and store performance improvement
- Exercise necessary budgetary controls on all costs incurred by the Territories, ensuring that they comply with the drawn budgets
- Coordinate with marketing for providing inputs on Margins, Mark Downs for promotions, campaigns and in-season activities like sales
- Evaluate and present feasibility of new projects and assess the financial implications of new or existing stores/ventures
- Monitor Capital Expenditure plans for various territories

Accounting and Audit

- Ensure proper approval, authorization of all payments and ensure accuracy in timelines and accuracy in all payments
- Develop and maintain systems for prompt and accurate collection of financial and accounting information
- Supervise online accounting and ensuring accuracy of all transactions
- Ensure scrutiny and timely payment to all suppliers and supplier accounts reconciliation
- Ensure creditors accounting and the non - RNA company accounting is taken care of
- Supervise timely and accurate internal audits and finalize Accounts for the Concept
- Review and validate Payroll, Overtime payments and Incentives on time
- Manage all staff requirements like Salary Certificate / PP / HRA Approval etc
- Review and authorise banking transactions
- Review and Authorize Petty cash / Medical / Leave Settlement vouchers
- Review and approve Supplier payments

Warehousing, Inventory and Logistics

- Ensure optimal / economic stock holding
- Negotiate and review arrangements with local purchase suppliers, non trading material suppliers
- Supervise, control and authorize all purchases (local non Trading)
- Help the corporate team in managing and overseeing in-bound and outbound logistics activity
- Coordinate with the central warehouse for receiving, warehousing and delivery of product in a manner consistent with Concept service and cost objectives
- Monitor freight forwarding by logistics partners
- Ensure timely delivery of shipments to various territories along with Imports Department / RNA

People Management

- Manage the performance of the team - set annual performance goals, monitor performance and provide constructive feedback to improve performance.
- Identify their training and development needs and ensure their fulfilment
- Develop and mentor subordinates to move to the next higher level of job through career planning
- Ensure compliance to Company policies and values

Miscellaneous

- Implement improvements in business processes as directed by Head - Finance
- Represent the Concept in all financial matters with banks, auditors and other relevant parties
- Train and educate the team members about errors/new developments
- Ensure that all the Concept assets are safeguarded
- Coordinate for Project execution (New Stores / Warehouse) requirements (if applicable)
- Coordinate with the corporate legal team for any legal matter of the concept

About the Company

Founded in 1973 in Bahrain, the Landmark Group has successfully grown into one of the largest and most successful retail organizations in the Middle East. An international, diversified retail conglomerate that encourages entrepreneurship to consistently deliver exceptional value, the Group operates over 900 stores encompassing a retail presence of over 13 million sq. ft. across Middle East, India, Egypt, Turkey, Yemen and Pakistan (franchise operation). The Group employs around 31,000 employees.