5 months ago
Associate Financial Accountant
This roles sits in the Financial Accounting team, a team of 25 responsible for some of the most complex accounting areas at Three, including Revenue accounting, Inventory accounting, Customer Acquisition and Retention cost (CARC) accounting, IFRS15/16 accounting and much more.
Reporting into the CARC & Inventory Finance Manager, this Financial Analyst role is challenging and varied, and will give the successful candidate supported development in three major areas of accounting:
1) Stock-in-transit (SIT) Accounting
SIT reconciliation and reporting is ultimately designed to limit losses to the company for stock sent between our Warehouses and Retail Stores. The candidate would own this area, actually operating financial controls and helping the business to manage those risks by providing key insight and support.
2) Customer Acquisition and Retention Cost Accounting (CARC)
CARC is one of the most significant costs to Three, and is a high profile part of management reporting used locally and in our reporting to our shareholder in Hong Kong. You would become a key part of the month end close team and be directly involved in performing the accounting for these costs to a high standard and level of detail to facilitate that reporting.
3) Inventory Accounting
In Inventory, you will ensure inventory stock is set up properly on the accounting systems so that the correct accounting entries are generated for all shipments made from the warehouse.
Roles & Responsibilities
This role is effectively two roles in one, and will give the successful candidate significant development, supported by a knowledgeable and highly experienced team in these areas and beyond. The candidate will be trained and work in these key areas of accounting and will quickly be directly involved in high profile reporting which is critical for the business.
The candidate will also develop an understanding of subledger accounting, including Retail Java (electronic point of sale system used in stores); SingleView (customer billing system); Oracle Inventory; Accounts Receivable and Accounts Payable, and will have the opportunity to gain unrivalled knowledge of how they interact with the General Ledger.
Stock in Transit (SIT) Accounting
* Continual improvement of new SIT month end process (circa £0.5m/month of non-compliant SIT transactions alone).
* Maintain detailed process notes and process flows for new SIT month end.
* Support Austria with testing and development of new system driven ‘In-transit Error Management’ (INEM) system, enabling the business to implement strong financial controls and properly audit SIT for the first time.
* Maintain INEM documentation and training.
* Manage SIT balance sheet reconciliations and monitor the accuracy of systems and effectiveness of controls by reconciling INEM to the General Ledger.
* Investigate and resolve SIT issues for retail and warehouse transfers, including SIT monthly write offs (with backup reporting) and provision support for the Supply Chain team.
* Support the business with key financial reports and identification of errors in SIT, ultimately to improve accountability and reduce SIT losses to the business.
* Build and maintain relationships with key stakeholders inside and outside of the business, to help improve controls and compliance in SIT.
Customer Acquisition and Retention Cost (CARC) Accounting
* Take full responsibility for ensuring critical non-retail CARC Cost of Sales (COS) are broken down in the General Ledger at month end for all channels and lines of business, totalling circa £25m/month. This involves detailed data manipulation and preparing multiple journals (typically >50% of CARC month end journals by volume).
* Provide cover for key CARC month end duties (currently performed by an experienced grade D employee).
* Contribute to continual process improvement of CARC month end.
* Inventory Items – including setup/maintenance; linking to supplier; updating direct price list; documentation and training.
* Support other inventory balance sheet recs, including key warehouse and retail inventory balance sheet accounts.
* Deputise in managers absence.
Skills, Experience & Qualifications
Type of person we are looking for.
Strong verbal and written communication skills
Strong Excel skills, including large volume data interrogation
Nice to Have:
Experience of working with subledgers
Exposure to balance sheet reconciliations