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Assistant Manager - Finance

Landmark Group

Posted on November 24, 2019

6 - 8 years Dubai - United Arab Emirates

Bachelor of Commerce(Commerce). Any Nationality

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Job Description

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Position Summary:
The job holder will be responsible for managing Budgeting and MIS sub –functions in the Concept. The job holder will be expected to utilize and manage financial resources and systems necessary to deliver Concept operational objectives

Role Description:

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

- Analyze 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:

- Retail productivity

- Gross Margin and Net Margin for the Concept

- Stocks and Sales

- 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

- Ensure thorough checking of the entire MIS prior sending to corporate office while adhering to agreed timelines

- Exercise necessary budgetary controls on all costs incurred by the Territories, ensuring that they comply with the drawn budgets

- Ensure due compliance in accordance with financial control parameters accountable for Internal Control System

- 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

- Closing books of accounts for UAE and coordinating with territories for timely closure of books

- Ensure correct inventory accounting and COGS reporting across territories

- 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

- Ensure scrutiny and timely payment to all suppliers and supplier accounts reconciliation

- Ensure purchase protection by enabling recoveries from suppliers

- 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.

- Implement controls and procedures for debtors invoices and for monthly cash certificates

- Review and Authorize Petty cash / Medical / Leave Settlement vouchers

- Ensuring correct fixed asset accounting, including correct accounting, timely capitalization, and re-conciliation of book vs physical

Warehousing & Inventory

- Ensure optimal / economic stock holding

- Negotiate and review arrangements with local purchase suppliers, non-trading material suppliers

- Supervise 3rd party contracts and reconciliations on monthly basis

- Ensure the stocks are in line with pre decided norms on terms of stocks levels, stock ageing, and slow moving items, to take timely decisions whenever required

- Coordinate with the central warehouse for receiving, warehousing and delivery of product in a manner consistent with Concept service and cost objectives

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\

Other Responsibilities: 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

- Ensure that all the Concept assets are safeguarded

- Manage staff accommodation requirements

- Monitor Franchise agreements of various brands (if applicable)

- Monitor and renew Lease Contracts/AMCs/TL/ Insurance (if applicable)

- Coordinate for Project execution (New Stores/Warehouse) requirements (if applicable)

Team Organization:
Reporting to: Head – Finance

Finance / Treasury

Desired Candidate Profile

6 – 8 years of experience in Finance and Operations preferably in a Retail environment with specific exposure to operational financial planning and budget control. 2 -3 years of managerial experience in an independent Finance / Operations / Commercial function. Knowledge in Accounting theory (e.g., internal controls, financial statement preparation, accrual accounting); Basic Accounting Tools or Financial tools (e.g. CAPEX); Knowledge of ERP based Accounting Systems; Knowledge of International Financial Reporting (IFRS Standards); Financial Budgeting and Forecasting techniques.


Budget Cost Control MIS Accounting Audit Inventory Warehousing

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Landmark Group

The Landmark Group began its journey in 1973 with one store in Bahrain and has grown into one of the largest retail and hospitality conglomerates in the Middle East, Africa and India. Currently the Group operates over 2,300 outlets, encompassing over 30 million square feet across 22 countries. Since 1973, the Group has created great brands that are market leaders, built strong partnerships and delivered exceptional value to customers. The Landmark Group celebrates the recognition it has received for excellence of its customer service and leadership team. We’re always on the lookout for new talent to strengthen our team and we seek professionals who are excited at the chance to do their life’s best work every day.
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Website https://www.landmarkgroup.com

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