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Assistant Manager - Financial Management Reporting

Date:  20-Jul-2021
Country:  India
Function:  Olam Global Business Service
Sub-Function:  Centralization


About Us

Olam International is a leading food and agri-business supplying food, ingredients, feed and fibre to over 19,800 customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a sourcing network of 4.8 million farmers. Through our purpose to 'Re-imagine Global Agriculture and Food Systems', Olam aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders. Headquartered and listed in Singapore, Olam currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST.

Olam Information Services (OISL) is a captive subsidiary of Olam International, Singapore offering IT Services & Global Business Services across its operations in 65 countries in Asia, Africa, EU & Americas. In Chennai, we currently have onboard more than 1000 highly motivated employees. Olam Digital has received International Innovation Award 2019 for Best Services and Solutions.

Olam Global Business Services (OGBS) is a captive unit that offers End to End business process and analytics solutions. OGBS currently offers its solutions in 6 Platforms: Finance, Supply Chain, People services, Risk & Market Compliance, Big Data Analytics and Business Intelligence. At this moment, OGBS is located in City of Chennai, India and provides its services to over 20 countries. Olam GBS has received Best Shared Services in India Award – 2019, by Shared Services Forum and Asia’s No.1 Shared Services in Process Improvement and Value Creation, 2019 by Shared Services and Outsourcing Network Forum.

Job Summary

The Assistant Manager– FMR (RTR) is responsible for a collection of processes between recording financial transactions and the publication of financial reports. The candidate should be a qualified Chartered Accountant/Cost Accountant. S/he is responsible of providing both strategic, financial and operational feedback on business performance as well as financial statements that are compliant with local accounting standards. Responsibilities include posting journal entries, preparing balance sheet reconciliations, reviewing entries and reconciliations, preparing cash forecasting statements, supporting month end closing, preparing various reports as required and supporting audits.

Job Description

Responsible for monthly book closure, preparation and posting of Journal entries, financial reporting and reconciliations
Application of the entity’s accounting policies to each non-routine event or transaction is independently reviewed for appropriateness and ensures any exceptions are highlighted to business on an immediate basis
Unusual items and exceptions are investigated and properly resolved / recorded in the general ledger in the appropriate accounting period
Managing the Financial and Management Reporting (RTR) processes and ensuring the service level agreements are met as per the timeline and accuracy
Overall responsibilities include:

  • Inventory accounting (movements and reconciliation with physical stock)
  • Mark-to-Market / Fair Value accounting
  • Month-end processing (period close)
  • Trial balance, PNL and balance sheet review
  • Management Reporting
  • Inter-company reconciliations
  • Account reconciliations (GL to sub-ledger)
  • Budgeting and Forecasting

Ensure that the roles and responsibilities in the month closing and reporting process (including a required understanding of the entity’s operations and appropriate accounting knowledge) are clearly defined, documented, updated, and communicated to counterparts on a timely basis
Ensure that financial statements of the Entity / BU handled adhere to accounting policies defined by the Corporate and any changes thereof from time to time and any exceptions identified are clearly highlighted to onsite teams
Responsible for balance sheet reconciliations and making necessary journal entries/corrections to address reconciling items. 

Profile Description

Commerce Degree from an Institute of repute with Chartered Accountancy qualification with 3-5 years in Finance and Accounts domain from a FMCG / Manufacturing environment
Experience in setting up Validation Checklists for all processes and ensure to review on a continuous basis for completeness and accuracy
Experience in independently reviewing, validating, authorising journal entries and ensure those are recorded in the appropriate accounting period
Prior experience in preparing plant costing reports, MUV (Materials Usage Variance)/PPV (Purchase Price Variance) absorption costing, standard costing etc.
Should have excellent knowledge in fixed assets accounting and fair knowledge about Bill of Material creation, production/work order settlement etc.
Excellent understanding of Generally Accepted Accounting Principles (GAAP) 
Working knowledge of SAP / Oracle and SAP BPC / BO / BI would be an added advantage
Strong domain expertise, analytical skills and logical reasoning with good leadership capabilities with the ability to handle pressure and work in an environment of strict deadlines
Willingness to work in different time zones and willingness to travel (short informed trips) based on the business needs.

Olam is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, nationality, disability, protected veteran status, sexual orientation, gender identity, gender expression, genetic information, or any other characteristic protected by law.

Applicants are requested to complete all required steps in the application process including providing a resume/CV in order to be considered for open roles.

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