Management Accountant

Harrods; City of Westminster; On-site; GBP 45,000 - 60,000; Full time

Job summary

A luxury retail company is seeking a Management Accountant to drive financial performance and strategic decision-making. The successful candidate will manage month-end reporting, collaborate on budgeting forecasts, and perform financial analysis to identify cost-saving opportunities. Required qualifications include being a qualified accountant (ACA/ACCA/CIMA) and proficiency in Excel and financial software.

Qualifications

• Qualified accountant with a strong analytical mindset.
• Proficient in utilizing Excel for financial tasks.
• Excellent adaptability to dynamic financial environments.

Responsibilities

• Prepare month-end financial journals with accuracy.
• Conduct monthly reconciliations of balance sheet accounts.
• Collaborate with stakeholders to develop annual budgets.

Skills

Analytical mindset

Excel proficiency

Problem-solving skills

Attention to detail

Team collaboration

Education

Qualified accountant (ACA/ACCA/CIMA)

Tools

SAP

SAP AFO

Microsoft Office

Job description

Overview

As a Management Accountant at Harrods, your role is pivotal in driving the financial performance and strategic decision-making within our organisation. Reporting to the Finance Manager- Retail, you will work alongside directors, department heads and finance professionals to ensure efficient financial reporting and variance analysis in alignment with our business objectives. You will be responsible for managing and maintaining multiple cost centres.

As a member of the Finance & Procurement community, you will also be expected to ensure robust financial control and reporting accuracy is upheld. In addition, you will look to continuously improve relevant processes and procedures to drive both efficiency and accuracy.

Responsibilities

• Month End reporting – Preparation and timely posting of monthly financial journals, ensuring accuracy and adherence to strict deadlines.
• – Conducting monthly reconciliations of balance sheet accounts to maintain financial integrity.
• – Producing periodic reports and analysis on cost centres, facilitating discussions with senior management. You will challenge and escalate overspends where necessary.
• – Close monitoring of payroll expenditure and the preparation of periodic payroll forecasts in collaboration with senior management.

• Budgeting/Forecasting – Collaborating with relevant senior stakeholders to develop and prepare detailed annual budgets, ensuring they align with strategic goals.
• – Upholding the accuracy of the budgeting process within tight deadlines.
• – Reviewing and challenging budget assumptions, including payroll and expenses, to enhance financial planning.
• – Leading budget meetings, actively engaging with directors & department heads to understand business needs and align financial planning accordingly.
• – Understanding, challenging, and reporting accurate monthly forecasts, ensuring transparency in financial projections.
• – Communicating known overspends or underspends, enabling timely decision-making.

• Ad Hoc Analysis and Support – Critical analysis of fixed and variable costs in the profit and loss statement (P&L), with the aim of identifying opportunities for efficiency and cost savings.
• – Undertaking ad hoc analysis and tasks as required within the Finance Team, contributing to the overall financial health of the organization.

General

• – Collaboration is central to your role. You'll collaborate closely with Finance team members, sharing insights and best practices, and with cross-functional teams to provide financial guidance and align financial planning with operational goals.
• – Engaging with business stakeholders to understand their financial needs and providing valuable insights.
• – You will leverage tools and technologies such as financial software and ERP systems (SAP), data analytics tools (SAP AFO), Microsoft Office, and cloud-based solutions to support financial planning and reporting.

Qualifications

• You will be a qualified accountant (ACA/ACCA/CIMA) with a strong analytical mindset and the ability to translate complex financial information into clear insights.
• Excellent PC literacy, especially Excel.
• Adaptability to a dynamic financial landscape.
• Meticulous attention to detail to ensure accurate financial reporting and analysis.
• Strong problem-solving skills to identify and implement financial improvements.
• Team player with a collaborative approach aligned with Harrods' culture.
• Effective time management to meet deadlines while handling multiple deliverables.