Corporate Planning & Management - Spend Management - Procure to Pay
Divisional Overview
The Corporate Planning & Management (CPM) Division unifies Finance & Planning, Spend Management, Operational Risk and Resilience, and CPM Engineering teams to deliver business planning and analytics, expense management, third party risk management, and governance strategies across the firm. CPM have 5 operating pillars.
Finance & Planning supports the execution of the firm's strategic objectives through the management of the planning process, firmwide reporting and analytics and insights into the firm's business plans and budgets. They develop consistent framework for revenue division projections creating transparency, accountability and efficiency around projections. This pillar also includes the CF&O, EO and Engineering divisional CFOs, who are strategic finance advisors helping the firm and the non-revenue divisions achieve commercial financial opportunities. Product Finance is responsible for the overall governance and proactive management of the firm's non-compensation expenses. Spend Management encompasses the functions responsible for managing all aspects of the firm's spend with third parties - advising commercial agreements and driving operating efficiency. Departments include Strategic Sourcing, Procure to Pay, Integrated Travel and Expense, Infrastructure and Transformation and Sustainable Operations. Operational Risk & Resilience drives firmwide Operational Risk programs along with second line teams and implements required changes within CPM. The Corporate Insurance & Advisory team in this pillar identifies, procures, and manages corporate insurance needs for the firm and its investing businesses. The CPM Engineering team provides engineering solutions that enable the firm to manage third-party spend, data and automation, plan budgets, forecast financial scenarios, allocate expenses and support corporate decision making in-line with the firm's strategic objectives.
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Role Overview
Professionals in CPM have an analytical mindset, exhibit intellectual curiosity and are from diverse academic backgrounds. This role sits in Procure To Pay, within the Spend Management pillar. The objective of the Procure to Pay (P2P) group is to deliver commercial value and front-to-back cost transparency across the firm. Under the Spend Management umbrella and focused on the front-to-back theme the Procure to Pay team is divided into 3 pillars - Procurement Management, Expense Management and Accounting & Tax Control.
The role requires collaboration with different functions across the firm on a regular basis, an ability to work independently, and ability to interact with senior professionals across the firm. It also entails in-depth analysis and reporting for senior management, requiring diligence and a commercial mindset. The candidate is required to work closely with global counterparts. Should have excellent verbal and written communication skills.
Job responsibilities will include, but are not limited to:
- Partner with divisional leadership to understand business drivers and initiatives
- Manage non-revenue divisions operating expenses including full ownership and accountability of the spend which would include month-end reviews, quarterly and yearly analysis
- Collaborate with divisional leadership teams and product owners across the firm on a regular basis to analyze and forecast spend
- Prepare budget and take full ownership of the budgeting and reforecasting cycles and assist with presentation materials for senior leadership
- Lead the team's efforts to identify areas where we can better leverage technology and automate processes
- Prepare and analyze reports related to allocation of various expenses to different businesses and identifying areas to better leverage tools to ensure correctness of cost allocation
- Lead the team's efforts to do in-depth variance analysis of budgets and actuals for various expense lines
- Support the team to collaborate with businesses, estimate the expenses and allocation to revenue divisions monthly
- Identify potential areas to create operational efficiencies and automate manual processes
- Ensure correctness of General Ledger by reviewing and monitoring month-end closure activities/entries
- Maintain department's organizational hierarchy in multiple systems
Qualifications:
- Specific knowledge on Accounts Payable products like Ariba Guided Buying/Buying and Invoicing, S4, FieldGlass, SLP, TeamConnect is essential
- End-to-end process understanding of various functions within P2P is a must (Vendor Management, Invoice Processing, Tax, Accounting Control and Payment Reconciliation)
- Relevant Bachelor's degree or equivalent qualification with an excellent academic record;
- 2-4 years of relevant experience in the field of finance, accounting, and/or business management
- Analytical capabilities and financial modeling experience
- Excellent communication and interpersonal (written and verbal) skills, strong attention to detail
- Ability to lead across team members and drive assignments to completion
- Ability to multi-task & deliver under pressure
- Solid work ethic and high level of motivation
- Proficient in Microsoft Excel and PowerPoint
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