A Financial Controller in a wholesale company oversees budgeting, financial reporting, and cash flow management to ensure the business remains profitable and compliant with regulations. They analyze sales data and operational costs to optimize inventory levels and improve cost efficiency. Their role also includes implementing financial controls and risk management strategies tailored to the wholesale industry's unique challenges.
Oversee financial reporting and compliance
Manage comprehensive financial reporting processes to ensure accuracy, transparency, and adherence to regulatory standards. Monitor compliance with accounting principles, tax laws, and corporate policies to mitigate risks and maintain organizational integrity. Recommend improvements to financial controls and reporting systems to enhance efficiency and reliability.
Manage accounts receivable and payable
Efficiently managing accounts receivable and payable ensures timely cash flow and accurate financial records, contributing to the overall financial health of the organization. This role involves regularly monitoring incoming payments, processing outgoing invoices, and reconciling discrepancies to maintain reliable bookkeeping. Strong attention to detail and proficiency in accounting software like QuickBooks or SAP are essential for optimizing financial operations.
Develop and monitor budgets and forecasts
Develop and monitor budgets and forecasts to ensure accurate financial planning and resource allocation. Analyze variances between actual and projected figures to identify trends and recommend adjustments. Collaborate with cross-functional teams to align budgetary goals with organizational objectives and support informed decision-making.
Ensure accurate inventory valuation and costing
Ensure precise inventory valuation by systematically tracking stock levels and applying consistent costing methods such as FIFO, LIFO, or weighted average. Collaborate with accounting and procurement teams to verify purchase prices, monitor inventory adjustments, and reconcile discrepancies regularly. Propose improvements to inventory management systems to enhance accuracy and reporting efficiency.
Supervise month-end and year-end closing processes
Oversee and ensure accuracy in the month-end and year-end closing processes to maintain financial integrity and compliance with accounting standards. Collaborate with finance teams to identify discrepancies and implement corrective actions promptly. Utilize advanced accounting software to streamline closing cycles and produce timely financial reports.
Implement internal controls and risk management
Develop and maintain internal controls to ensure compliance with regulatory requirements and safeguard company assets. Identify, assess, and mitigate risks by conducting regular risk management evaluations and implementing effective control measures. Collaborate with cross-functional teams to enhance operational efficiency and support organizational objectives.
Coordinate external audits and tax filings
Coordinate external audits and tax filings by managing communication between auditors, tax authorities, and internal finance teams to ensure timely and accurate submission of all required documents. Oversee review processes and compliance with regulatory standards, minimizing risks related to financial reporting and tax liabilities. Expertise in audit coordination and tax compliance management is essential for maintaining organizational financial integrity and meeting statutory deadlines.
Analyze financial performance and KPIs
Monitor and evaluate financial performance by analyzing key performance indicators (KPIs) such as revenue growth, profit margins, and expense ratios to identify trends and areas for improvement. Generate comprehensive reports to support strategic decision-making and provide actionable insights to enhance operational efficiency. Collaborate with cross-functional teams to implement data-driven strategies that optimize financial outcomes and drive sustainable business growth.
Optimize cash flow and working capital
Optimize cash flow and working capital by implementing robust forecasting models and closely monitoring accounts receivable and payable cycles. Enhance liquidity management through strategic vendor negotiations, timely invoice processing, and efficient inventory control. Focus on cash flow optimization techniques to improve overall financial stability and support sustainable business growth.
Support strategic decision-making with financial insights
Analyze complex financial data to provide actionable insights that drive strategic business decisions. Develop comprehensive financial models and forecasts to support budgeting, investment evaluation, and risk management. Collaborate with cross-functional teams to align financial strategies with organizational goals, enhancing overall performance and growth. Financial analysis is crucial for informed decision-making and maximizing company value.