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 Company
- 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
- 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
- Interactive Communications - Explains why information is required from across the business in order to understand the performance and articulates variances clearly.
- Teamwork - Builds collaborative working relationships across the business based on trust.
- Client Focus - Appreciation of macro and micro economic factors affecting the ability of Company customers and consumers to buy and pay
- Decision Making - Allocates time and tasks to meet deadlines
- Team Leadership - Motivates colleagues to provide information for budgets, reforecasts, weekly cash flow and supporting documentation for variance analysis.
- Business Perspective - Understands the food sector in KSA in detail and the various supply chains for imported goods.
- Information Gathering and Processing - High skilled at information gathering and processing into information
- Using Financial Information - Interpretation of figures to show trends and explain variances in detail for senior management and in summary for Board members
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.
- 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
- 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
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