Business Controller

Job description

Richemont, one of the world leaders in the luxury sector, has various Houses specializing in jewelry, watches and high-end accessories. Each Maison proudly embodies a tradition of style, quality and craftsmanship and Richemont strives to preserve the heritage and identity specific to each of them. At the same time, we are committed to innovating and designing new products in line with the values ​​of our Houses, through a process of permanent creativity.

MAIN PURPOSE

Following specific Brands within the Richemont portfolio, the Business Controller is in charge of assisting these Brands with all financial matters related to their activity in the Country, in line with Richemont Group accounting and reporting standards. He/she is therefore a key business partner of the Brands’ teams, providing local Brand management with all financial information or analysis required to take relevant and appropriate decisions in order to grow their business in the region in a sustainable way.

KEY RESPONSIBILITIES

Business partner

• Works closely with local Brand Management in order to provide clarity on all financial matters and therefore facilitate appropriate decision making.
• Acts as a key contact of Brand Headquarters to comment and explain financial performance.
• Contributes to the development of a financial / internal control culture within the Brands.

Budgeting

• Lead brands’ budget processes including timely preparation, analysis and submission of Budgets, Latest Estimates & rolling forecasts, mid-term strategy planning in the Group’s financial reporting systems, in line with Brands and Group requirements and standards.

Monthly Closing and Reporting

• Working efficiently with the Accounting team, ensuring that all relevant accounting entries are booked properly, in line with IFRS and Group standards.
• Deliver timely and accurate monthly reports to the brands (sales reports, detailed P&Ls, Capex monitoring, scorecards, management reporting, ad hoc analysis)
  • Calculates accruals compliant with standard accounting rules (IFRS/Group), and liaises with Accounting so that all required entries are booked in a timely manner.
  • Analyses gross margin and discount levels, and reports any deviation with Brands targets.
  • Review SOSI reports and support Brands on all flows including sale on approval, duty impact calculations
  • Reviews inventories (including ageing and determination of relevant provisions, stock adjustments) and coordinates with the Brand so that any potential issue is timely addressed.
  • Prepares and analyses Brand P&L (by Boutique/Department) and balance sheet and alerts local Brand Management / Headquarter of any identified risk or deviation with validated budgets.
  • Follows up main Brands costs (communication, selling costs, personnel costs…).
  • Elaborates and distributes Brands’ scorecards (or any other relevant report).
  • Prepare and share Yearly reports Eg. Boutique reporting, Environment reporting
  • Ensure completion of required documentation for price adjustments
  • Ensure partner agreements are in place

Internal Control & Process Improvement

• Participates in the monitoring of Internal controls within the subsidiary.
• Contributes to the formalization or continuous improvement of standard operating procedures and processes.
• Contributes to the improvement of controlling processes and systems by identifying areas of improvement and leading initiatives and projects to address them.
• Spreads best practices across the department.

Interactions

Liaises with other teams of the Finance Department (Accounting, Accounts Receivable, Retail Finance Operations), local Brands teams, other Richemont functions (IT, Logistics, HR, Customer Service), Brands HQs & Group Finance

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