Brown-Forman Junior Financial Analyst - FP&A in Moscow, Russia
Key responsibilities of this role are (1) participating in financial planning and budgeting processes for Russia business (2) preparing regular (monthly/quarterly/annually) reporting and analysis processes, including the variance analysis of actual financial results vs. previous periods and vs. plans (3) preparing standard and ad hoc managerial reports highlighting key performance drivers (4) maintaining and updating cash-flow forecasts with identification of potential cash gap risks. The role also assumes continuous improvement of existing processes to drive efficiencies and focus on value-add tasks. The role requires and enables close collaboration with other functions in Russia team (accounting, supply chain, marketing, HR and others) as well as strong networking with regional FP&A team. A curious employee in this role will have good understanding of the performance drivers of Russia business, will participate in the resource allocation process across brands and expense buckets, and gain further exposure to regional FP&A and Russia organizations.
Planning & Budgeting
- Participation in financial planning within required timing and at expected quality. Key financial planning cycles include 3-Year Plan, annual Budget, quarterly updates (QP2, QP3, QP4), and monthly Fiscal Year Outlook updates. Main elements of financial planning process are (1) collaboration with Sales and SC teams in regard to depletion and shipment plans (2) maintaining price structure at SKU level and up to recommended list prices, (3) planning all elements of COGS in strong collaboration with Corporate Finance and Production Finance counterparts, (4) planning operating expenses (Brand Expenses, SG&A and OIX).
The key outcome of the good financial planning process will be an accurate financial forecast for all P&L lines at brand level. It also requires good communication of financial plans to key stakeholders.
Participation in COGS planning and budgeting process for all cost elements. It requires good understanding of COGS accounting treatments, corporate processes and system architectures, including but not limited to material ledger, standard costing process, sources of variances, exchange rate variations, write-offs, quarterly disposal reserves, etc. In regard to locally managed components of COGS (local warehousing and transportation, brokerage, etc.) the role requires close collaboration with SC team in order to ensure proper planning and budgeting process.
Supporting SG&A planning and budgeting process. This assumes (1) maintaining tools and systems to enable budget owners to accurately track, analyze and plan their department expenses, (2) consolidation of individual department budgets into business unit SG&A forecast, and (3) training budget owners.
Supporting Brand Expenses planning and budgeting process. Same as with SG&A, this process requires providing Marketing department with information, tools and systems to accurately and efficiently plan Marketing activities and translate them into financial forecast with clear understanding of key assumptions and variabilities.
Reporting & Analysis
Monthly reporting of actual P&L results and analysis of variances vs. last year and vs. Plan for all P&L lines with good understanding of key financial drivers. Preparation of standard reports to key stakeholders.
Tracking and reporting of actual SG&A results and analysis of variances vs. previous periods and vs. Plan by cost centers and cost elements. Helping budget owners understand their department results. Providing regular standard SG&A reports to key stakeholders.
Same as for SG&A, track, report and analyze brand expenses by individual brands. Provide stakeholders with regular standard Brand Expenses reports.
Track, report and analyze COGS results by key elements and by brands. Provide local SC team with clear communications about local COGS and drivers of variances.
Closely collaborate with Accounting team to stay tuned to changes in Accounting Policies and to ensure that all activities are properly recorded in B-F books. Maintain accurate month-closing and fiscal-year closing activities, including proper evaluation and posting of OpEx and COGS accruals.
Cash Flow Management and Credit Control
Maintain and update cash-flow forecast by accurately planning of all incoming and outgoing cash transaction. Communicate the cash-flow forecast to corporate finance on time as per the process.
Monitor the usage of the credit facility by 3rd party importer to ensure efficiency and minimization of the credit cost for B-F. Analyze the financial results of 3rd party importer, properly calculate B-F liabilities as per importation contract and record them to B-F books (accruals).
Track the credit balance and timely payments from customers. Timely communicate overdues to management.
Maintenance of prices and other master data
Maintain price master data in the system. Ensure prices are properly approved, recorded and documented. Maintain the actual price lists with customers.
Maintain other master data important for financial planning and analysis processes. This includes but not limited to local cost elements hierarchy, cost center hierarchy, SKU price structures, customers mapping, etc.
Participate in financial processes for creation of new SKU. Properly introduce them to local systems and processes (e.g. update pricing master data, include them into price lists, etc.)
Ad Hoc Projects and Support
Provide ad hoc support to Russia team on special projects, such as RTC reviews, systems implementations, market deep dives and strategic plan developments, etc.
Be an active member of DEAR Finance team.
Seek for improvements of the existing processes to drive efficiencies.
Russia Leadership: Provide them with standard reports about financial performance of the business unit.
Budget Owners: Provide them with sufficient information and tools to help them manage their budgets effectively and efficiently. Provide ad hoc and regular financial training's.
Russia Finance Team: Be a good team player and support other members of the team in their work and projects. Be curious to learn financial operations beyond the direct responsibilities.
DEAR FP&A: Provide standard reports of Russia financial results and forecasts in line with defined timing and at required level of details. Use FP&A as a center of excellence to learn B-F
systems and tools, and also to re-apply best practices.
REQUIRED EXPERIENCE AND EDUCATION
Higher Degree (Bachelor or equivalent) in Economics, Finance or business
2+ years in financial analysis
Language Proficient English
PREFERRED EXPERIENCE AND EDUCATION
Education: CIMA, CMA or other certifications on managerial accounting and financial analysis.
Work in multinational company with US GAAP or IFRS financial reporting
Experienced with SAP and BW
Analytical skills, communication skills including oral and business writing, results oriented, curious.
Brown-Forman Corporation is committed to equality of opportunity in all aspects of employment. It is the policy of Brown-Forman Corporation to provide full and equal employment opportunities to all employees and potential employees without regard to race, color, religion, national or ethnic origin, veteran status, age, gender, gender identity or expression, sexual orientation, genetic information, physical or mental disability or any other legally protected status.
Business Area: Global Finance
Req ID: JR-00000245