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May 8, 2023

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Olam OFI

We are a global leader in food & beverage ingredients. Pioneers at heart, we operate at the forefront of consumer trends to provide food & beverage manufacturers with products and ingredients that will delight their consumers. Making a positive impact on people and planet is all part of the delight. With a deep-rooted presence in the countries where our ingredients are grown, we are closer to farmers, enabling better quality, and more reliable, traceable and transparent supply. Supplying products and ingredients at scale is just the start. We add value through our unique, complementary portfolio of natural, delicious and nutritious products. With our fresh thinking, we help our customers unleash the sensory and functional attributes of cocoa, coffee, dairy, nuts and spices so they can create naturally good food & beverage products that meet consumer expectations. And whoever we’re with, whatever we’re doing, we always make it real.

Job Description

•    Monthly closure of management books, financial books, balance sheet review, quarterly audit packs and variance analysis and 100% adherence to reporting timelines
•    Review of physical vs SAP reconciliation of all categories of inventory, inventory valuation, cost of goods sold reconciliations, grade-wise cost movements, bin-wise cleaning outturns
•    Ability to track, understand and evaluate trade positions, and manage risk around commodity trading decisions
•    Budget vs Actuals analysis for direct cost, costs, direct selling expenses overheads, interest.
•    Preparation of monthly M2M files, BRM, fair valuation files, gross contribution reconciliations, weekly book values
•    Preparation and submission of management by exception reports
•    Monitoring and reporting of risk exposures for credit, counterparty, currency, positions and price, validation of controls to mitigate operational risks
•    Anchoring fund planning during procurement season and monitoring payment efficiency
•    Component wise monitoring, analysis, and reporting of working capital related variances against budgets and actively following up subsidy receivables, trade receivables for collection and slow-moving inventory for liquidation
•    Review of bank, customer and vendor reconciliations with confirmations/statements and reconciliation of VAT, payroll deductions, withholding taxes with respective statutory returns
•    Handling of audits under Syscohada, centralized audit by statutory auditors, internal audits, tax/customs controls, cross country audits
•    Driver based profitability budgeting
•    Preparation and validation of CAPEX project proposals, investment thesis and tracking, monitoring, and reporting of actual spends against budgets at component level
•    Ensuring adequacy of physical security measures, insurance coverage for mitigating risks,
•    Maintenance of transfer pricing documentation and compliance with transfer pricing policy
•    Audit of sops, controls, compliance with financial authority matrix
•    Identify venues for maximizing trade structured finance deals
•    Anchor for all IT, digital, continued business improvement projects

Key Performance Indicators

•    Closure of monthly MIS/NIS by working day 3 including schedules
•    Physical verification of all categories of inventories and monthly submission of variance reports to PCH/FC
•    Zero controllable losses
•    Timely closure of audits without significant observations
•    On time and accurate submission of all key deliverables
•    >99% online data entry at entity level
•    Timely roll out of all keys it projects with zero cost overruns
•    Zero non- compliances with financial authority matrix and key policies like enterprise risk policy, ABC policy, fraud risk policy
•    Fair valuation, currency management, review, and co-ordination with local and global stakeholders

Education, skills, and experiences required

•    Must be a Chartered Accountant – CA/ACCA
•    5 years’ work experience preferably in manufacturing industry.
•    Experience in handling audits, taxation assessments, book closing
•    IFRS/SFRS education and experience
•    Financial Planning and Analysis or similar Finance Manager Experience
•    Ability to multi-task in a complex finance and operations environment
•    Business Partnering experience to deliver profitability along with business
•    Good knowledge of accounting standards, accounting practices, tax laws, Syscohada
•    Thorough understanding of internal control processes
•    Excellent working knowledge on Excel, PowerPoint
•    Adaptive thinking and quick decision making
•    Excellent working knowledge in SAP
•    Good English communication
•    Physical efforts required / working environmental conditions
•    Could be required to stretch in working hours during the month close time and audit time

To apply for this job please visit careers.ofi.com.

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