Job Summary
| Position Title | Finance Analyst - Fx Management |
|---|---|
| Hiring Organization | Al Futtaim |
| Base Salary | AED |
| Job Schedule | Full Time |
| Required Skills | Microsoft Office, SAP, |
| Required Experience | 3 years |
| Joining | Immediately |
| Nationality | Any |
| Languages | English |
Position Details
- 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
Responsibilities
- Prepare monthly FX exposure based on the latest updates received from volumes & pricing team
- Analyze 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 analyze 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
- 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
Requirements
- Provide support to manager in various FX (Forex) related transaction for entity by preparing FX exposure, managing FX requirement with Group & banks, provide timely FX settling instruction to payments team & fixation of currency rate in system
- Support in preparing the Cash flow as per latest forecast and update key stake holders on Net Debt movements
- Support in preparing balance sheet during each forecast cycle and also analyze & provide key updates on variance against actuals & previous forecast
- Support finance team in balance sheet substantiation by reviewing all financial accounts and ensure that there are no misstatements under respective Balance sheet FS items
- Should have minimum 3 year experience in managing the above roles and good communication skills
- Should be proficient in MS excel & MS PowerPoint and SAP experience is an added advantage
- Bachelors Masters degree in Finance/accounting or equivalent
- Three to five years of experience in a similar role with a large conglomerate or a large multinational corporation with a focus on cash, liquidity, FX risk management and working capital optimization
- Microsoft Office, proficient in SAP or equivalent is a plus
- Present concepts, recommendations, and analyses to senior management in a clear, concise, and actionable manner
- Able to manage competing priorities in a cross-functional environment
- Work independently with limited supervision
- A Self-starter, with a passion to act while focusing on delivering results
- Excellent analytical and problem-solving skills with attention to detail
- Able to identify, act and implement ideas that drive continuous improvement
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