Readymix Finance Business Partner at Lafarge
Location: New Cairo
- Accountable for Ready mix Business Financial Statements and play a vital role in supporting Ready Mix Management in achieving the business targets.
- Will lead the Ready mix Business financials to meet its budgeted figures.
- This role requires leadership and influential skills as it includes several stakeholders.
- Conduct the process of analyzing and reporting the production costs, working capital and inventory as well as internal control to ensure that accurate and reliable cost information is available for proper decision making in line with Group accounting standards, policies and internal control standards.
⦁ Leading & validating total company annual budget financial statements; Income Statement, Balance Sheet & Cash flow for Ready mix Business.
⦁ Leading & validating total company annual Medium Term Plan including adhoc request which usually involve from 3 up to 5 years projections of financial statements; Income Statement, Balance Sheet & Cash flow for Ready mix Business.
⦁ Validate the executive presentation for EXCOM for the budget/MTP outcome of the company.
⦁ Coordinate between different departments to collect all budget assumptions.
⦁ Discussion of budget assumptions with involved parties to assure the validity of the assumptions and to assure the assumptions compliance with group targets.
1) Leading month end closing process for Ready mix Business (System transactions needed by Finance & Business stakeholders, considering the Accruals & Provisions needed for unallocated cost:
⦁ Capex receiving follow up & validation with Maintenance Team
⦁ Mobile Equipment rentals receiving & validation follow up with the maintenance team
⦁ Lands Rentals receiving and validation with the Admin Team
⦁ Labor (Own & Subcontracting) cost entry including bonus provisions follow up & validation with HR & Business Service team
⦁ Medical & Life Insurance entry and validation with HR & Business Service team
⦁ IT group cost allocation with the consolidation Team
⦁ Slow moving items provision calculation and entry booking with Business Service team
⦁ Group recharges provision calculation and entry booking with Business Service team
⦁ Scrap sales accrual calculation if any and entry booking with Business Service team
⦁ Amortization of Acquisition Purchase Price Adjustments
⦁ Escalations Accrual calculation follow up & validation with commercial team
⦁ Escalations Accrual booking follow up & validation with Business Service
⦁ Placing service Accrual follow up with the commercial team
⦁ Placing service Accrual reversal follow up with the Business Service team
⦁ Labor (Own & Subcontracting) Master Data cost allocation monthly review
⦁ Cement Rebate settlement allocation booking
2) Follow up on SAP Transactions needed for monthly end closing:
⦁ Setting maintenance cost
⦁ Allocating Auxiliary Cost Centers into Main Cost Centers
⦁ Check Negative Stocks
⦁ Production Activity Price Calculation
⦁ Settling Production Orders
⦁ Running Material Ledger
3) Performing Cost checks to make sure that the right cost has been booked as per LHARP (LafargeHolcim Accounting & Reporting Principles)and allocated to the right accounts and Cost.
4) Follow up that Actual Result is reported in the group reporting tool (SAP FC)
5) Follow up on reporting the actual figures to the country consolidation team through the SAP FC file with the relevant comments and supporting documents to report to the group.
6) Validate the executive presentation for EXCOM for the Actual performance of the company.
Reporting & Analysis:
1) Follow up & validating the analysis of the financial statements and providing comments on variance for Actual vs. Budget and Rolling Forecast for Total Company.
2) Providing Ready mix management with Monthly analysis for Top line and cost evolution by site through being an expert in Lafarge Reporting tool “Business Object” & “Qlick View” i.e. P&L by Site & 4D report.
3)Lead Ready mix commercial KPI’s and top line analysis in terms of selling prices review per product per site, Margin review per product per site and providing recommendations to commercial team on pricing models.
4)Lead the Deep dive analysis of each site performance, mainly reporting and analyzing the following:
⦁ P&L Total MTD & YTD
⦁ P&L by plant MTD & YTD
⦁ MOM by plant MTD & YTD
⦁ MOM by product MTD & YTD
⦁ Contribution Margin MTD & YTD
5) Validate the executive presentation for the RMX Management team for the performance by batch plants.
6) Supporting internal customers in their financial inquiries and presentations.
7) Follow up & validating monthly usage variance by working closely with the quality team in controlling the design mix assigned vs. actual design mix generated.
8) Follow up & validating Truck mixers & Pumps cost allocation through monitoring the functional location of each equipment and monitoring of proper cost allocation of Solar/Maintenance.
9) Lead and validate Balance sheet analysis:
⦁ Receivables & DSO
⦁ Provision analysis & evolution
⦁ Net Debt Position
⦁ NWC Capex reporting
⦁ Escalations Accrual Tracking
10) In addition to Payroll Budget Tracking
11) Analysis and validation of below EBITDA
12) Responsible for the issuance of major group reports, i.e. Monthly Executive report, progress review package.
⦁ Lead & validate the revised monthly Forecast financial statements; Income Statement, Balance Sheet & Cash flow for Ready mix Business.
⦁ Supporting the business in the appropriate decision making in bridging gap vs. budget in Cost while providing accurate Year to go figures.
⦁ Follow up on the Reporting the revised monthly Forecast to the country consolidation team through the SAP FC file with the relevant comments and supporting documents to report to the group.
⦁ Lead and validate the Pricing modeling of new project in coordination with the commercial Team.
⦁ Validate the executive presentation for EXCOM for the forecasted performance of the company.
⦁ Analyzing financial statements and providing comments on variance for Actual vs. Budget and Rolling Forecast for Ready mix Business.
⦁ Follow up on providing the relevant cost allocation on WBS to Capex Project Manager where depreciation is allocated on afterword.
⦁ Follow up on performing the appropriate system transaction to technically close project to be considered as Fixed Assets based on Capex Project Manager Input.
⦁ Follow up on Preparing projects financial justification and project payback period.
⦁ Follow up on Preparing Capex report & follow up on actual vs. budget for Ready mix Business.
I. Working Capital:
⦁ Follow up on sustainable reductions in working capital are made through management of inventory levels at all plants.
⦁ Follow up on reporting of the slow moving items and taking the necessary provisions.
⦁ Follow up on the regular stock count with Inventory Team and taking the necessary stock adjustments posting on the system for inventory variances.
⦁ Follow up on the aging report and taking the necessary doubtful debt provisions.
⦁ Follow up on the planned fixed assets stock count with the shared service/3rd parties and taking the necessary entries to adjust the Fixed Assets Register.
⦁ Follow up with the business to update the Fixed Assets register in case of relocating Mobile Equipment from plant to the other to reflect the right Depreciation allocation.
Purchase Request/Petty Cash Approval:
⦁ Timely Approving Purchase Request and Petty Cash SAP Workflow ensuring right allocation of cost and reviewing spend relevance to the budget and business.
⦁ Ensure the implementation of Internal control standards and the respect of the related procedures
⦁ Ensure the implementation of Compliance rules and Regulations.
Internal & External Audit:
⦁ Participate and fulfill in the requirements of the Internal & External Audit
⦁ Ensure timely implementation of internal and external audit recommendations.
System Incidence & Change Requests:
⦁ Follow up on handling system Incidence & Change Requests through the group tool “Service Now”, i.e. SAP issues, SAP Roles changes, cost centers owners Changes.
⦁ Regular update of the Profit Center Hierarchy to reflect accurate P&L by site especially with the dynamics of the Ready Mix Business.
⦁ Approval for all business related contracts related to vendors & customers through the contracts approval workflow.
⦁ Approval of all business related contracts related to vendors & customers through physically signing off contracts as a delegated person in the commercial registry.
– Finance Business Partner is involved in productivity projects that lead to cost savings.
-Education: Bachelor degree of commerce
-Outstanding interpersonal and communication skills.
-Outstanding analytical skills.
-Outstanding Leadership skills.
-Experience: A minimum of 12 years of financial related experience in budgeting, planning and reporting department.
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- Seniority Manager (8 to 15 years)
- Employer type Multinational Company
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- Address EG / New Cairo
- Employer Type Multinational Company
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