Senior Business Finance Manager - Food Retail (Head)

Dubai, United Arab Emirates
13 Feb 2019
13 Feb 2019
Job role
Finance manager
Objective: Manage the finance function of the Food Retail Division (Supermarkets, Catering, Food Trading & Distribution) under the direct supervision of the Business Head and Group CFO to ensure that the business operations run smoothly.

• Review Business Agreements with trade suppliers to ensure that favourable terms & conditions are agreed including rebates, listing fee, payment terms etc.
• Review contracts with non-trade suppliers to ensure that favourable terms & conditions are agreed to mitigate operational/financial risks
• Prepare feasibility studies, forecasting store wise incomes/expenses, critically reviewing underlying business assumptions specially for sales & margins
• Prepare Annual and Monthly Budgets for Grandiose (Head Office, Stores & catering)
• Perform Budgeted vs. Actual Analysis on periodic basis to monitor & control the budgets
• Monitor the supermarket operations & catering through different analysis/reports including Margin Analysis (Front-end & Back-end), Consignment Analysis, Wastages, Vendors Analysis, Products/Segments Analysis, Inventory Analysis etc.
• Ensure that End of Day (EOD) posting, cash collection, deposit & reconciliation process is monitored & controlled through Area Accountants
• Ensure that right petty cash process is in place and followed to manage the store petty cash, expense claims, petty cash adjustment and replenishment
• Ensure that controls are in place for credit sales and credit customers are followed-up and adjusted on timely basis
• Monitor wastage and provide recommendation on controlling the same
• Ensure the safeguarding of fixed assets through proper recording, tagging, physical count & reconciliation
• Ensure effective internal controls are in place for all supermarket operations including what?
Finance & Accounting
• Ensure that all the accounting adjustments are appropriately passed including rebates, other suppliers’ recovery incomes, inventory provisions/adjustments etc.
• Prepare Financial Statements (including Profit & Loss, Balance Sheet, Cash Flow etc.) to present accurate financial results
• Review/prepare all types of reconciliations including credit card reconciliation, bank reconciliations, Supplier reconciliation, Cash reconciliation etc.
• Provide input to ensure that ERP system (MS Dynamics NAV) is efficiently and effectively implemented / enhanced
• Perform ad-hoc business analysis as per the management requests
• Ensure Compliance with International Financial Reporting Standards (IFRS)
• Ensure that all company policies and procedures are followed and DoA is adhered to
• Identify and highlight business risks and take / recommend appropriate actions to mitigate risks, as and when required
• Supervise the Physical Inventory Count process of stores and guide operations team to perform the process in an efficient and effective manner
• Ensure all wastages, Shrinkages are posted on timely basis with due approvals as per DOA
• Ensure all stock transfers are properly recorded before period closings
• Review the justifications and ensure appropriate approvals are obtained for inventory write-offs & adjustments
Cash & Bank
• Prepare cashflow forecasting and perform forecasted vs. actual cash flow analysis
• Take appropriate action to ensure that sufficient cash is available for business operations
• Deal with banks for all banking requirements including credit card related matters, bank guarantees etc.