Treasury Accountant

Job Description

About GMG:GMG is a global well-being company retailing, distributing and manufacturing a portfolio of leading international and home-grown brands across sport, everyday goods, health and beauty, properties, and logistics sectors. Its vision is to inspire people to win in ways that make the world better. GMGs investments span across five key verticals: GMG Sports, GMG Everyday Goods, GMG Health and Beauty, GMG Properties, and GMG Logistics. Under the ownership and management of the Baker family, it has become a leading global company, affiliated with the worlds most successful and respected brands in the well-being sector. Working across the Middle East, North Africa, and Asia, GMG has introduced more than 120 brands into its markets.About the Role:The role holder is responsible for executing the various activities pertaining to accounts payable, fixed assets, accounts receivable, general ledger, treasury, payroll and financial planning for GMG business units under the guidance of the manager/superiors. The role holder is responsible for executing day today tasks as assigned by the superiors in compliance with the policies and procedures of the GMG group. The role holders main area of focus will be treasury.Core Responsibilities:General Ledger

• Executes all monthly general ledger procedures including journal entry preparation, discrepancy resolution, and account analysis for GMGs respective business unit:
• Entering direct journal vouchers (e.g. related to Payroll)
• Reconciling Sub ledgers with General Ledger
• Informs and follows up with the Manager if reconciliation between general ledgers accounts and subsidiary ledgers are not met. Records all adjusting, closing and reversing entries to attain reconciliation in such cases (after the requisite approval)

Accounts Payable

• Executes all monthly accounts payable procedures, for GMGs respective business unit, including preparing journal vouchers and batches for entry of payment transactions (payments, debit notes, credit notes, invoices) related to accounts payable into General Ledger with respect to all the purchases, expenses and goods outwards:
• Entering invoices into the system
• Invoice matching
• Invoice discrepancies
• Creating payments (Cheques, Cash etc. as required) or applying prepayments
• Creating debit/Credit Notes
• Stopping payments
• Payment Reconciliation
• Prepares accounts payable cheques and wire transfers with payment vouchers for necessary approval
• Periodically makes reconciliations with major suppliers/vendors/contractors and arranges for balance confirmations

Accounts Receivable

• Executes all monthly accounts receivables procedures, for GMGs respective business unit, including preparing journal vouchers and batches for entry of receivables transactions (receipts, debit notes, credit notes) into the General Ledger
• Entering information into the system
• Payment discrepancies
• Maintaining customer files
• Following up on collections
• Receives payments and receipts, record them and performs matching and remittance

Fixed Asset

• Receives invoices of fixed assets in order to match with the addition/capitalization of a new fixed asset into the system
• Assists with the preparation of the yearly statement of capital assets written off during the year for different departments to show how they were disposed of for management information

Treasury

• Performs daily reconciliation between banks accounts (all currencies) as per the bank statement and own records of treasury transactions
• Conducts, periodic, maturity analysis for the lines of credit obtained by GMG Group and updates the manager to ensure the availability of funds to meet the matured amount
• Executes as per the policies for hedging strategies and for managing foreign currency requirements
• Directs the cash balances available in GMG Groups various (Banks/Correspondences) accounts by all currencies and performs the re-allocation of funds to ensure that the optimum return on the GMG Groups funds is always attained

Payroll

• Processes salary and benefits entitlements and ensures authorization of monthly payroll as per established policies and procedures
• Verifies a variety of payroll-related information (e.g. time sheets, direct deposits, wage attachments, benefits, etc.) for the purpose of ensuring accurate distribution of funds and payroll and escalates any discrepancy to the senior authorities
• Executes as per the established controls and procedures while performing reconciliation checks in the payroll processing and payments to ensure the quality of delivery and compliance with standard processes
• Provides the interpretation of the payroll policy related to employee entitlements and concerns regarding benefits, leave, and pension as and when required in collaboration with the Human Resources Department

Financial Planning

• Prepares and submits financial analysis to the departments and develops all types of short and long-term financial projections/forecasts/plans in accordance with the departments strategies and GMGs overall objectives and directions, as guided by the seniors
• Conducts feasibility studies, financial due diligence, financial modelling & valuations, financial projections and other types of financial analysis to support decisions related to acquisitions, projects development etc.
• Prepares forecasts of demand and estimates of revenue for the group, assigned business unit, or assigned stores in the group
• Performs budgeting activities in compliance with GMGs approved Budgeting Policies & Procedures reflecting the departments strategies and GMGs overall objectives and directions

Other responsibilities

• Prepares the necessary monthly reports and the requested ad-hoc summaries/reports as may be requested by the seniors, related to -
• Sales, Margins
• Customers
• Stocks, Inventory, Port Shipments, Distributions, Freight, Customs, Shipment Delays etc.
• Budget Utilization
• Business Performance including Cash Flow, P&L statements
• Retail Productivity Metrics
• Coordinates with auditors as needed on research/resolution of any accounting issues/discrepancies
• Executes all monthly fixed assets procedures including maintaining the Fixed Assets master file to ensure the accurate tracking of all fixed assets for the GMGs respective business units

Qualification:

• Bachelors degree in Finance, Accounting or Business Administration
• A Masters degree in Finance, Accounting or Business Administration, is preferred
• Knowledge of International Accounting Standards (e.g. IFRS)
• Knowledge of Accounting systems and SAP software

Keyskills :

About Company

GMG is a global well-being company retailing, distributing and manufacturing a portfolio of leading international and home-grown brands across sport, food and health sectors.