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Location(s):

Pakistan

City/Cities:

Lahore

Travel Required:

Relocation Provided:

Job Posting End Date:

May 29, 2020

Shift:

Job Description Summary:

Position Overview

As Accounting Analyst, your role will be to maintain the organization’s financial records and transactions; complete assigned daily ledger entries and other financial transactions; collects and compiles simple financial information and assists senior accountants to prepare accurate and timely financial reports and accounting statements. Individual contributor representing the most common entry for this career stream; works under direct supervision.

Qualification and Experience

• Minimum 2 years’ experience in Finance Operations/ General Accounting in a multinational or shared services environment
• Bachelor’s Degree in Commerce/C.A Inter (desired)
• Advanced Excel skills
• Strong numeric and analytical skills
• Strong attention to details
• Proven ability to work on own initiative and as part of a team
• Familiarity with Operational Excellence / Continuous Improvement principles and desire to redesign processes and systems to create efficiencies

Key Responsibilities

Accounts Payable

• Acting as Accounts Payable Supervisor for the region, which includes; Region and CPS Pakistan OPEX and DME invoices processing Supervision of all the payments relating to vendors (Advance Payments, Urgent Payments, Manual Payments, Outward Remittances to foreign vendors in liaison with the partner banks and Central Bank of Pakistan)
• Supervising the bottler debit notes receipt, verification with supporting documentation and corresponding e-mails from the responsible officials/ getting approvals and payment

Accounts Receivable

• Managing Accounts Receivable of the branch for Pakistan and Afghanistan, preparing tracking summary for follow-up with the bottlers, preparing acknowledgement of funds and JV for booking the money received into financials
• Acting as the main point of contact for any queries from bottlers and region finance team regarding concentrate sales invoices and GL outstanding balances
• Providing region finance team all the necessary support to manage and minimize accounts receivable balances

Property, Plant & Equipment

• Provide assistance to region finance team regarding CAPEX queries and acting as liaison between Global Finance Operations Fixed-Assets team and the region
• Preparing and submitting FA capitalization, write-offs and alteration requests for the region
• Maintaining memorandum record of fixed assets at local level
• Monthly review of depreciation entries posted by GFO FA Team and highlighting any issues/inconsistencies, if found
• Monthly reclassification of CDEs depreciation to COGS as per the SPP

Treasury Management

• Acting as the main point of contact for all partner banks and Region Finance
• Managing movement of funds in local currency accounts, making arrangement for monthly and quarterly tax payments
• Managing movement of funds in foreign currency account; maintaining availability of USDs as per the local needs for OPEX and DME Payments
• Maintaining bank accounts' GLs on local level. Furthermore, preparing and posting re-measurement entries in banks’ GLs for foreign currencies balance corrections.
• Resolving queries and requirements submitted by our partner banks regarding changes in the banking regulations, annual renewals of credit lines, updating authorized signatories' information, etc.
• Preparing monthly bank reconciliations for Local Currency non-interest bearing/disbursement accounts.
• Preparing monthly petty cash reconciliations and getting them verified by petty cash custodians in region finance team
• Responsible for remittance of profit and pro-rata to head office, preparing documentation for State Bank of Pakistan, liaising with the bank for approval
• Working closely with the LEC for decision on the amount of financing required for the import of raw material for next year.
• Deciding on cash balance required to be maintained with Citibank and Standard Chartered banks respectively. Analyzing the vendor payables by reviewing the invoices due for payment, open letters of credits for the import of raw materials, bank guarantees, demand drafts for payment of custom duties for clearing of consignments from the ports of shipments.
• Preparing cash flow movement forecasts for Region finance director's review

Lease Accounting

• Responsible for managing Lease Accounting for CC 1154

o Create, Modify and Delete leases on Lease Controller Tool

o Review and approve creation, modification and deletion of leases on Lease Controller Tool

o Posting quarterly entries received from Accounting & Reporting Team

o Keeping track of the actual and potential changes to the uploaded leases on the tool and liaise with Accounting &

Reporting team to ensure correctness and completeness in the data uploaded on the tool

• Monthly payments of lease rentals

o Keeping track of all monthly lease rental payments, ensuring timeliness and correctness in payments

o Monthly amortizations of prepaid lease rentals in the systems

Release Strategies

• Responsible for managing release strategies as per the SPP guidelines and recommendations for Controls and Compliance team
• Quarterly update of release strategies as per recommendations from controls and compliance team
• Creating new release strategies in the system
• Keeping track of changes in Local Org. chart to incorporate any necessary changes into release strategies to maintain high degree of control over purchase orders' approval process
• Liaising and resolving if any release strategy is creating issues in the purchase order creation process. Working closely with LEC & RFM for local release strategies maintenance

Vendor Master Data Maintenance

• Raising requests for operating expenses vendors, verification of documents received from the vendor, getting approval from the LEC for vendor creation, uploading the same in SAP and informing the same to the concerned official upon creation of vendor or in case further information is needed by the MDM team
• Responsible for maintaining local cost centers as per the instructions from the Region Finance. LEC approvals are taken for every requested change to ensure control
• Acts as one stop solution for vendor registrations i.e. vendor registration forms submission, verification, local approvals and submission of all required documents to Vendor Master Team
• Acts as liaison between the potential vendors and Region Legal Counsel for any legal matters involved in the registration process.
• Work closely with Vendor Master Team for all the vendor creation and maintenance requests

OPEX

• Supporting Region finance director and P&A in OPEX planning for BP and monthly rolling estimates
• Preparing Travel Expense Reports for RFM Review i.e. personnel level allocation of travel costs
• Support region facilities teams in creating confirmation/blanket POs of recurring OPEX i.e. Security, travel and lodging, rent, fuel, postage, lease payments, etc.
• Responsible for providing correct GL codes and cost centers for OPEX POs creation to region teams
• Keeping check on POs creation activity and highlighting any inconsistencies to Region Finance
• Responsible for accruals of all operational expenditures on monthly basis for both PO and Non - PO based expenses
• Preparing accruals for BU & CPS related to open purchase orders, utilities and general expenses to cover the company financials from any sudden hit and to reflect true picture of the company’s financial health.
• Tracking the accruals coming from the prior years, liaising with the concerned departments and reversing balance unpaid amounts by Q2 each year. Asking for approval by the concerned official as per LCOA if any balance needs to be carried beyond Q2.

Region Purchase Orders Maintenance

• Responsible for posting GRs for all OPEX POs created under plant 0283, Liaising with the PO requisitioners regarding activity status prior posting GRs
• Monthly review of region OPEX POs, liaising with the concerned associates and closing the PO’s that are no longer required.
• Monthly review of GR/IR imbalances in Region OPEX POs and resolving the imbalances where required
• Liaising with AP controls team for clearing of open balances on vendor accounts. Providing support to CPS where required.

General Ledger Activities

• Preparing and positing bank transfers between Saving and Current Accounts, monthly bank charges, interest income on interest bearing accounts, reclassification of stale cheques
• Perform the balance sheet accounts clearing as per recommendation of the GL Team.

McDonald's Rebates Calculations

• Monthly McDonald’s rebate calculation and accruals.
• Liaising with the bottler to get numbers for monthly sales to McDonald's
• Calculating BIB and VIP rebates on monthly basis and posting the entry into the respective GLs
• Providing support to Region Finance with their monthly MMF entries and quarterly value sharing working
• Reconciliation of sales numbers with bottler and with McDonald's Pakistan on regular basis to identify and remove any potential variances

Region Employees' Support

• Provide support to Region Office and CPS associates with their medical expense claims via Local Insurance Service provider (IGI Insurance)
• Providing any necessary support to associates with submitting their medical claims to resolving any blockages with their claims' re-imbursements
• Training new hires on Concur for their business expense claims
• Citibank Corporate Card Coordinator - Processing New card applications, maintaining existing cards, handling queries from Citibank as well as associates on any card related issues

Yearly External & Internal Audits

• Acted as the main contact person for the external audit of the branch during FY 2019 Audit, providing all necessary information, breakdowns/reconciliations of GL's, discussing adjustments proposed by auditors with Region finance director and posting agreed adjustments into books of accounts.
• Providing support to Region Finance in executing yearly internal audit activity on Cold Drink Equipment (CDE).
• Coordinating & executing audit and tagging of fixed assets recorded in the company code 1154
• Providing support to external auditors (PwC) with their queries regarding fixed assets.
• Preparing breakdowns for various current assets and liability accounts for external audit and local tax purposes
• Variance Analysis of operating expenses against prior year with external auditors, providing reasoning for increase/decrease supported with documentation.
• Review and update relevant process narratives for CAD audits
• Provide all documentation and information required by the auditors properly and timely and support Legal Entity Controller with coordination of Audits

Assisting LEC on Local Taxes

• Providing technical support to and coordinating with LEC in reconciling various VAT related GL's, helping him in preparing reconciliations for various tax accounts for onward submission to GFO GL Team.
• Due to complex tax structure of Pakistan location involving multiple VAT rates spread between supplies and services, actively involved with local tax consultant to manage tax deductions on vendors invoices.
• Propose continuous improvements on the tax calculations and reviews processes.
• Work closely with the Legal Entity Controller & Tax Manager, regarding the support of all tax assessments.
• Pull information from the systems to help our local tax consultant on the preparation of their tax workings and reconciliation letters to be delivered to the Tax Authorities.
• Support the Legal Entity Controller on all tax related matters.

Fund Accounts Maintenance

• Pakistan and Afghanistan Region maintains four fund accounts locally i.e. Pension Fund, Provident Fund, Gratuity Fund and Workers’ Profit Participation Fund
• Authorized by trustees for the maintenance of fund accounts from FY 2020
• Liaising with the partner banks regarding any queries from the trustees
• Managing disbursement of payments from the fund accounts
• Coordinating and providing support to external auditors for yearly funds audits
• Providing technical support to trustees in making long term investments in Funds.

People Management

• Responsible for supervision of Accounts Payable Specialist (NEW) hired to assist LEC team in invoice processing.

Our Purpose and Growth Culture:

We are taking deliberate action to nurture an inclusive culture that is grounded in our company purpose, to refresh the world and make a difference. We act with a growth mindset, take an expansive approach to what’s possible and believe in continuous learning to improve our business and ourselves. We focus on four key behaviors – curious, empowered, inclusive and agile – and value how we work as much as what we achieve. We believe that our culture is one of the reasons our company continues to thrive after 130+ years. Visit Our Purpose and Vision to learn more about these behaviors and how you can bring them to life in your next role at Coca-Cola.