JOB PURPOSE
To provide dedicated financial support to a department by ensuring that all income, expenses, commitments are effectively managed and controlled through accurate financials. Provide business intelligence and insight from analytics, trace and track of business performance covering cost, expenditure, currency, commitment, cash, inventory, margin, market share, and competition. Enhance performance monitoring through active engagement and partnering with the business using domain specific deep dive reports, identify key issues, risks, KPI trends, exceptions to the management highlighting granular understanding of the key drivers that impact all aspects of the financials. Provide financial decision analysis recommendations to the business using appropriate models that fits the business domain.
JOB ACCOUNTABILITIES
1. Provide front line advice to complete medium term pan and annual budget submission to Cost Centre holders. Responsible for timely completion of budget consolidation at a division level, demonstrating productivity improvements year on year. Provide back up evidence to Finance Manager with detailed analysis, in order to appropriately challenge budget assumptions. Ensure that the budget focuses on KPIs for each part of the business and is aligned to the long term plan.
2. Understand the cause and effect by business domain impacting cash – both inflows and outflows from operations, from planned investments/capex initiatives and from financing activities. Develop appropriate cash flow models to be produced monthly with ability to flex for frequent changes introduced – both tactical and strategic covering period ranging from annual to three year rolling basis with sensitivities built in.
3. Provide continuous hands-on guidance to business managers in terms of financial awareness by educating on Governance such as Authority manual, Capex v/s Opex, Cash view v/s Profit/Loss view, business domain specific financial system and procedures, best practices, specific to business domain cost and revenue drivers, building business cases with businesses developing understanding of financial terminologies such as Net Present Value (NPV), and Return On Investments (ROI) etc.
4. Support Performance management through active engagement with the business and production of requisite reports – at regular specified intervals and focus on diagnosis to provide alternative solutions/recommendations pro-actively for business improvements through influencing change. Ensure all standard reporting is centralised with Shared Services in MIS whilst enabling through standardised tool and processes that allow ad hoc reports to be generated with speed, accuracy and agility to support urgent business need.
5. Generate and analyse periodic forecasts at the department (cost centre and profit centre) level and corporate level that will include the impact of any post-budget development, not originally planned e.g. unbudgeted stations, routes, aircraft acquisitions and delayed recruitment etc. in order to highlight the reasons for deviations. Develop models that support Activity Based Costing,
Origin Destination revenue analysis on margins and market share, key drivers and its Cause/Effect, What ifs, and Sensitivities
0. Provide financial information to the business managers to challenge the need, assumptions and assist to initiate work flow processes such as RFPs, P2P, ITSRs, MREs. Recommending for approval in line with pre-approved authority limits. Provide guidance to business managers in new business initiatives to secure financially acceptable Governance, solutions, highlighting issues where new ventures and initiatives impact existing finance processes, procedures and policies.
1. Provide requisite analysis and details to Group Finance to perform financial accounting activities. Ensure adequate validation of invoices, accrual generation and reconciliations with appropriate analysis in order to justify accounting activities to internal and statutory auditors.
2. Update the Standard Operating Procedures for each business domain. Assist the business in establishing end to end financial procedures consequent to new initiatives or new information and provide data capture for new analysis needs using appropriate changes to chart of accounts. Provide detailed analysis of new capex and opex projects and actively engage within One Finance enabling effective communication within Finance and in turn ensuring the business gets the best overall finance delivery.
3. Research and maintain updated relevant benchmarking statistics on key performance indicators of the business, competitors and industry, providing analysis for opportunities to enhance revenue, reduce costs and optimise resources. Provide support to the business in the evaluation of high value contracts to ensure financial risks and concentration risks are adequately covered.
In consultation with Business Finance Manager work towards own development in analytical skills, presentation skills, communication skills and be self-aware. Also coach staff directly reporting into the job holder.
Qualifications & Experience
MINIMUM KNOWLEDGE/EXPERIENCE/TRAINING/QUALIFICATIONS
A Graduate in Commerce with 7 years’ experience OR a qualified accountant with 3 years’ experience.
Experience in Finance/Management Accounting in a large organisation is necessary.
EXPERENCE IN THE FOLLOWING AREA IS PREFFERED
Information Technology (IT)
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