Overview of the role:

This role will support the Finance Manager, Al Futtaim Motors in handling treasury activities at business unit level, Balance sheet management and other day to day operations.

What you will do:

FX management

• Prepare monthly FX exposure based on the latest updates received from volumes & pricing team.
• Analyse the variance in volumes against the previous exposure and obtain the reason
• Review the pricing file against each model shared by pricing team and secure clarification in case of any material variance.
• Ensuring to receive latest shipment data for subsequent month from Demand & Supply chain team in order to review the hedging position.
• Ensure that the hedge coverage ratio against the forecasted exposure for subsequent month is as per agreed strategy
• Regularly update the FX register to arrive at Yen position at any point of time.
• Review & update the swap gain/loss to ensure the accuracy of effective Hedge rate
• Prepare the monthly Yen working & reports to arrive at the latest yen position for respective stake holders to take decision on Yen strategy.
• Raise Internal note towards JPY hedging based on the outputs from monthly yen discussion
• Review the existing hedge position and update the payments dates for subsequent hedging based on the latest exposure
• Monitor weekly JPY payments and initiate required action to book FX or take early delivery against shortfall or roll over the FX trade to future trade in case of excess hedge.
• Raise various orders in TRM for GTC to execute the trades including monthly hedging, spot purchases for shortfall, rollover & early delivery.
• Provide required workings to Treasury team to process the supplier payments against FX booked.
• Ensure with Treasury back office & I2P team that all necessary entries have been accounted in SAP
• Review the Exchange Difference G/L in detail and analyse the reason for any entries posted under this G/L
• Prepare the necessary working required for monthly Standard rate fixation.
• Ensure the accuracy of FX exposure, paid GIT, swap gain/loss, unhedged coverage while preparing standard rate working in order to avoid any Exchange gain/loss impact.

Cash Flow Budgeting and Forecasting

• Prepare bi-weekly Cash flow as per template shared by group treasury.
• Ensure the accuracy of bi-weekly Cash flow data based on the latest forecast i.e. based on inputs from volumes team on Inventory, Collections data from respective business team and others.
• Review the actual opening balances of Cash and Borrowings and provide material variance analysis of the movements against the budget/forecast/previous month.
• Ensure that Bi-Cash flow is shared with Divisional FP&A team and uploaded in Anaplan EIT portal within timelines.

Balance Sheet Management and Substantiation

• Ensure that all guidelines are followed related to governance of Balance sheet FS items
• Ensure all related transaction are posted before the closure of books during each month-end.
• Trend report and schedules should be updated monthly with relevant KPIs.
• Review & analyze on monthly basis the misstatements under each Balance sheet G/L.
• Liaise with various teams to identify the key issues and resolve the misstatements.
• Support Audit requirements both Internal and External Audit.

Balance Sheet Budgeting and Forecasting

• Assist in forecasting Balance Sheet along with specific details and schedules.
• Report and review Balance sheet items and provide variance analysis between the months/ budgeted amount and/ or against forecast along with KPIs

Others

• Support the FP&A team in any other adhoc project.
• Support in P&L and BS reporting and uploading in the respective IT system.
• Coordinating with various stakeholders for maintaining the accuracy and effective accounting.