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DIRECTOR FP & A

DIRECTOR FP & A

adidas is a global company with workplaces all over the world. Our global culture is shaped by our core belief “Through sport, we have the power to change lives”. We do that by being confident and willing to try new things and take risks but also by acknowledging that we don’t have all the answers. Like every elite athlete relies on partners we, too, know that we are stronger together.

We believe the success of our company must have a diverse workforce comprised of individuals with different ideas, strengths, interests and cultural backgrounds. We aim to harmonize the commercial interests of the company with the professional, private and family needs of our employees.

Purpose & Overall Relevance for the Organization:

This is a critical in-house leadership position for an inspirational, passionate, and growth oriented future executive who understands how to create value for our shareholders and consumer while advancing a winning culture. Will co-pilot the execution of our European adidas Wholesale strategy and will be obsessed with securing the delivery of sustainable top-line growth across the wholesale accounts in Nordics within Cluster North Europe.

  • governor for all respective Nordic reporting units and Cluster North Europe Finance SLT member
  • provides a critical view on all financial and non-financial business drivers, contributing to the achievement of annual and mid-term business objectives
  • drives a cross-functional and cross-geography collaboration model that consistently role models our leadership framework and generates actionable marketplace insights
  • leads proactive and trusted forecasting processes that maximize growth, sustains commercial profitability, and secures reliable balance sheets

Key Responsibilities:

Integrated Business Planning

  • Support the Sales Directors in challenging the bottom-up forecasts and capturing key commentary, assumptions, risks and opportunities, resulting in an aligned Sales forecast.
  • Cascade Sales forecasts and ensure that there is a predictable and reliable full P&L forecast completed monthly
  • All P&L line items to be detailed and phased in accordance with global processes, with risks and opportunities (R&O) highlighted for the other months.
  • Ensure that the sales forecast is supported by:
    • Sell-out forecasts based on Y-O-Y development assumptions of the retailer and our market share development, compared to our Y-O-Y sell-out development
    • Retailer stock cover developments
    • Business on Hand build comparing coverage from prior years and resulting calculated forecasts
    • Product development
  • Drive the conversion of the order book by working cross-functionally and ensuring clear actions are defined and carried out.
  • Work with Sales and Customer Service teams to drive the monthly/quarterly/yearly sales achievements.
  • Ensure that Product and Supply Chain implications are reflected in the outlook and/or R&O.
  • Provide accurate commentary for business developments for discussion in the Europe Monthly Finance Review and MBR Calls.

Sales and Margin

  • Ensure that Order Book Sales and Margins are analysed on a weekly basis and ensure any material deviations from previous forecast/budget are investigated when results appear suspect.
  • Perform monthly margin FC for future season using information provided from Europe and then applying trade terms, royalty assumptions and adjust for early intros (seasonal Vs fiscal view)
  • For all forecasts, explain key variances from budget and last RFC.

Trade Terms

  • Work with sales business partners to ensure Rebates are paid out accurately and followed up with Local Accounting and GBS to ensure the balance sheet is reconciled.
  • Work closely with Sales Team to evaluate trade terms. Key focus on Gross to Net Sales and tracking of discounts for both Internal & Global reporting purposes.
  • Challenge Sales Teams to reach the overall target for trade terms and ensure that they use the buckets in accordance with Group rules and that they utilise the trade terms to get best value for money.
  • Ensure all on and off invoice rebates are input accurately into SAP and ensure that orderbook/ billing updates reflect latest trade discounts.
  • Ensure that Sales Working Budget is tracked and aligned with Sales and Marketing.

MWB

  • Ensure that monthly reviews are carried out with relevant Marketing teams for MWB costs – identifying key variances vs. target, actions required and ensuring an accurate revised full year forecast is provided to agreed deadlines.
  • Challenge Marketing teams on forecasts. Find opportunities to reduce MWB and identify risks to the adidas Group.
  • Ensure full FC review carried out and relayed to VP Finance with appropriate commentary and highlighting R&O.
  • Work closely with the Marketing Teams on the preparation of business analysis as and when required (e.g. Shop in Shop Capex, etc.).

Operating Expenses / COS Variances

  • Ensure that monthly reviews are carried out with all relevant business managers for Operating Expenses – identifying key variances vs. target, actions required and ensuring an accurate revised full year forecast is provided to agreed deadlines.
  • Challenge Budget Holders on forecasts and actual costs vs RFC/Target.
  • Monthly report to VP Finance and other team members on the progress of OOH/COS Variances performance vs. budgets/targets highlighting key issues/actions.

Month End/Balance Sheet

  • Ensure month end and year end reporting is delivered timely and accurately through accurate accruals and prepayments and checking of invoices and accounting entries throughout the year and explanations for deviations of actuals to forecast provided.
  • Ensure Sales and Margins are correctly recorded and fully reconciled.
  • Ensure accuracy of the balance sheet associated with Nordic Management Responsibility in close collaboration with local Accounting teams and GBS.

Business Partnering

  • Monthly P&L reviews with Sales Director.
  • Regular weekly sales and order reporting to key stake holders.
  • Financial modelling and tracking of CARs.
  • Preparation of ad hoc financial information for presentation to Senior management on financial performance of Customers over several years.
  • Business partnering including P&L modelling and financial evaluation.
  • Evaluation of Partner Programme profitability/PPU vs Wholesale facilitating conversations as to the most effective way of developing our business with Strategic & Key Brand/Business Customers.
  • Customer Profitability analysis – to be performed once a year as a tool for facilitating decision making and driving the correct actions to maximise profitability.
  • Financial modelling and tracking of commercial clubs.
  • Guide Sales Teams in conversations about the optimal business set-up in how we operate with Customers.

Management of the Team

  • Effective management of direct reports and coaching other team members via on the job training.
  • Strategically assess the development of each team member with a view to have the overall Finance team, and that there are future successors to replace any movers and leavers, whilst considering the best development for the individual and EMEA/Company needs.
  • Be an effective member of the EMEA Finance team meetings and share best practice whenever possible.

Requisite Education and Experience / Minimum Qualifications:

  • Educational background in Accounting and Finance at Degree Level or equivalent
  • Recognised Accounting qualification CPA/ACA/CIMA
  • 7-10 years of broad based operational and strategic finance experience with progressive controlling/business responsibility in industry leading companies

Find more.

|Source: Online/KSU

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