Financial Planning & Analysis Department Manager (Direct)

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Financial Planning & Analysis Department Manager (Direct)

At Honda we embrace inclusion in our various policies, so whilst our contracts state that the hours are as required to fulfil the role with a minimum of 35 hours per week, we offer flexibility for when you work. The regular office hours are 08:00 – 16:00 Monday to Thursday with a half hour lunch break & 08:00 – 13:00 on a Friday. However, we offer flexibility of when you work with our daily flex-time start of between 07:00 and 11:00 providing that there is no business requirement.

Whilst there is no contractual right to work from home, the flexibility we offer is that you can request to work from home for a maximum of 50% of the working days in any one month, again providing there is no business requirement to attend the office.

Role: 
The HME-Finance European FP&A team is responsible for the analysis of monthly results, top-level coordination of all budgeting and forecasting (short and long term), plus general commercial finance decision support to the European business. The team supports both Head Office and the wider European region and its ultimate aim is to help maximise profit and achieve budget accuracy across the business. 

This role sits within the management reporting and analysis section of the team and is responsible for delivering the above requirements for the Direct/product divisions (AM, MC & PP). This will include budgeting & forecasting, monthly analysis of results and ad hoc financial support to the Head Office business. It manages three Finance Section Managers, with indirect management of a further two Finance Managers.

The team works closely with Finance Operations with regards to the month-end process, highlighting areas that require attention and analysing the completed figures.

Some European travel may be required but is not expected to be frequent. 

Main Responsibilities: 

1. Analysis of Actual Results

• Collaborate with Financial Operations team (who are responsible for preparing the monthly results) to ensure accuracy of period-end financial closings for Head Office/HME-C by providing business expertise and commercial knowledge, before reviewing and analysing final output.
• Provide valuable and timely performance analysis, insight and reporting to senior stakeholders. Work with Business Planning teams to understand division results, both for Head Office and on consolidated European basis (e.g. costs, margins, profit by customer) and recommend improvement opportunities. This includes Balance Sheet.
• Work with wider Finance team to ensure data quality supports accurate analysis.
• Ensure key business performance risks, issues and opportunities are highlighted, interpreting financial results to enable the business to make key decisions and achieve targets.
• Work with Business Operations, so that root causes of issues are fully understood and recommendations proposed to improve performance and control.
• Work with BP teams on F/X impact analysis. 
• Responsibility for a limited number of SOx controls that relate to analysis and reporting. Potentially review some B/S reconciliations (split with Finance Operations to be decided).
• Review monthly reporting, contributing to BOFC commentary as required. 
• Circulate monthly PCA for completion by branches.
• Coordinate Monthly Operating Report (MOR) presentation and meeting, contributing content as required. 

2. Budgeting and Forecasting 

• Set targets for Europe (interpret HM targets and present to ROC for approval, inc. division splits if HM haven’t been prescriptive).
• Set and issue guidance on areas for Direct divisions to focus on, e.g. phasing accuracy, SGA accuracy etc.
• Working with Head of FP&A and Indirect FP&A Dept. Manager, coordinate the budgeting process for the European region, ensuring alignment with division objectives and providing guidance to budget preparers.
• Support Head Office business teams in preparation of their budgets.
• Contribute to Direct GA budgets for Head Office and work with BU Department Managers to ensure branch GA is prepared accurately and consistently. 
• HME Head Office (GB01) GP update
• Monitor and communicate budget performance against preset targets.
• Review SGA budgets for quality (phasing, granularity etc.). Challenge assumptions where appropriate. 
• GP accuracy check (overall and internal transactions between HM, HME and HTR).
• Manage ‘top-level adjustment’ tracker and ensure balance between capturing risk whilst not being overly prudent is correct.
• Scenario modelling and sensitivity analysis to test the robustness of budgeted results and search for opportunities to increase profit. 
• Maintain and enhance financial models, tools and systems to support budgeting and forecasting, working with the Head of European FP&A and wider FP&A team to achieve standardisation where possible. Lead the pursuit of standardisation between divisions and across branches. This will include considering the use of rolling forecasts.
• Lead development of accurate Balance Sheet budgeting, including loan forecast
• Support business in preparation of budget packs and presentations to Leadership teams.
• Work with rest of central FP&A team to prepare final budget pack, summarising overall performance of the European region. Present to ROC for approval.
• Identify root causes of previous budget variances to improve forecasting accuracy.
• Provide accounting expertise in context of how to treat items in budget.
• Promote tools to increase budget accuracy, e.g. ABB, risks and ops logs.

3.  Performance Management
• Support business reviews with HME divisions.
• Work with BP teams to create financial projections based on Niguri (sales and supply planning tool). This links to consideration of implementing rolling forecasts, per section 2 above.
• Working with HME divisions, local teams and the wider FP&A team, develop plans for profit improvement and follow-up with entities.
• Provide insight regarding budget, including monitoring KPIs vs other branches.
• Act as an advocate and role model for understanding cost drivers and cost control.
• Work with central Finance teams to drive process improvements in working capital management. 

4. Commercial Finance Support

• Key point of contact in Finance for Head Office product division financial matters.
• Input financial expertise to relevant business projects relating to direct divisions.
• Support projects (inc, ISD spend), ensuring ROI is accurately determined and investment decisions thus make good financial sense. 
• Provide financial representation at HME divisional meetings, where required. 
• Support Group Finance re. audit requirements (internal and external).
• Key role to play in supporting projects such as trade S4 and budget software replacement.

5. Lead, manage, motivate and develop the Finance FP&A team

• Motivate, develop and manage the team. 
• Work in conjunction with the other FP&A Department Managers and Head of European FP&A to share best practice ideas and ensure a standardised approach where possible.
• Manage succession planning, recruitment, appraisal and team development.

6. Continually Improve Systems and Processes

• Work with the wider FP&A team to develop efficiencies in current processes and reporting structures, advancing current models. This will include pursuing automation and, where appropriate, ‘self-serve’.
• Promote standardised pan-E (and pan-Division) processes relating to Direct divisions.
• Stay up to date with industry trends, best practices and regulatory changes related to FP&A and proactively propose improvements and enhancements to FP&A processes. 

Qualifications, skills and experience: Required/Desirable
 

Required

• Qualified accountant – CIMA/ACCA/ACA
• Notable post-qualified experience in FP&A roles.
• A curiosity, willingness and aptitude to investigate and learn the latest tech solutions to support FP&A activities (e.g. Power BI, Power Query, RPA, AI etc.)

Experienced in team management and a strong team player, with ability to motivate a team to achieve tasks under pressure and to tight deadlines; excellent communication and presentation skills; detail oriented; comfortable working with a variety of people of varying financial experience across Europe and able to bridge the finance/non finance gap; well organised but with a flexible approach; pan-E experience including commercial focus; proven record of process improvement, particularly in FP&A context; challenging mindset and responsive to customer requirements.

• SAP, ERP software and advanced Excel skills are highly desirable.
• Industry experience or strong product interest would be advantageous.
   

Honda is committed to the principle of equal opportunity in the workplace for all employees, temporary workers, contractors, applicants and visitors. Honda also encourages respect for the individual differences and talents of others while making full use of one's own abilities, based on Honda's philosophy of respect for the individual.

At Honda, we value and celebrate diversity and are committed to being a fair, non-discriminatory company that promotes and welcomes the uniqueness and differences of people around the world. We recognise that a diverse workforce allows for different ideas and perspectives, and we encourage everyone to share them. We strive to foster a culture of belonging that is consistent with Honda's core values and lived out in the way we work and respect each other. For us at Honda, diversifying our workforce means increasing its overall strength by providing people with equal opportunities - regardless of personal characteristics or previous careers.

This commitment flows directly from the Honda philosophy and the belief that we are all working towards a common goal. Honda recruits, hires, trains and promotes the most qualified/experienced individuals at all levels without regard to race, origin, religion or belief, gender, sexual orientation, age, disability or any other protected characteristic.

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