Commercial Finance Intern
Coty is a world leader in beauty and home to an illustrious roster of cosmetic, skincare and fragrance brands. And our company has a mission: to challenge the definition of beauty, to encourage authenticity and celebrate diversity. Because to us at Coty, beauty isn’t about conforming to somebody else’s ideal. It’s about inclusion and liberating everyone to shine in their unique way.
Coty helps millions of people around the world express your beauty, your way through our rich portfolio covering fragrance, skin care, colour cosmetics, and body care. Our brands include global icons like Gucci, Burberry, Hugo Boss, Calvin Klein, Philosophy, Max Factor, Rimmel, Bourjois, Sally Hansen, Adidas, David Beckham, etc. With more than one billion products shipped each year, the possibilities for self-expression are endless.
About the Role…
Through this role, you’ll be able to gain an understanding of:
1) Commercial finance role: provide support to commercial team (sales & marketing) & working with cross-functional teams (custodian finance, supply chain, customer service, APAC finance team etc) to drive business growth & business operation
2) Financial planning process (3 years plan, annual budget, monthly forecasting etc)
3) Financial analysis, understand drivers of variances vs budget/forecast & last year, identify gaps & make recommendations
4) Preparation of management reports for markets & total SEA region
5) Financial control & SOX compliance
6) Evaluating deals (pricing), promotion activities, capital expenditure investment, ROI etc
7) Monitoring & tracking of expenses
8) Managing collection & overdue
9) Use of Accounting & Business intelligent systems such as SAP, SAP BI, HFM, Power BI dashboard, Hyperion Smartview, Ariba & Kinaxis
10) Set-up RSP/invoice prices/trade margin in SAP via Nintex
In this role you will be responsible for:
1) Support Finance Manager in the co-pilot role for Singapore & Export markets
a. Financial planning (Budgeting & Monthly Forecast)
b. Prepare monthly key performances / management reports including identify variances & provide commentary on the key drivers
c. Prepare weekly sales tracker and shipment status
d. Month-end closing process including preparing of journals and reviewing of P&L
e. Prepare monthly / quarterly management reports for commercial team, SEA & APAC teams
f. Monthly / Quarterly financial control & SOX compliance – monthly Balance sheet & accruals review, provide evidence / supporting documents etc
g. Evaluating deals, promotion activities, capital expenditure investment, ROI etc
h. Monitoring & tracking of A&CP spend, distributors’ A&CP commitments etc.
i. Monitoring & tracking collection from customers & overdue (DSO)
j. Assess reasonableness of profit margins for new product developments
k. Set-up RSP / invoice prices in SAP via Nintex / Pricing controls
l. Maintaining price updates in Kinaxis / STREAM
m. Identify process improvement opportunities
n. Assist in Internal audit requests
o. Assist in new projects
2) Consolidation & report preparation SEA region
a. Monthly & Quarterly management reports
b. Ad-hoc requests from Global & APAC team
c. Follow up with markets / business units on report submission, due dates etc
d. Develop user friendly templates for data collection
WHAT YOU'LL BRING
• Able to commit for at least 6 months (Jul to Dec 2022) for a full-time internship.
• Skilled in the use of MS Office tools including Outlook (or related email tool) Excel, Word and PowerPoint.
• Self-Motivated, with a strong work ethic and a sense of confidentiality.
• Possesses cross-cultural awareness and high emotional intelligence.
• Articulate, with the ability to work in a fast-paced environment.
• Good balance of a professional attitude while having fun.
• Strong interest in consumer goods, make-up and beauty products.
• Strong desire to learn along with a strong sense of ownership.
• Persuasive, resilient and flexible, able to easily adapt to new challenges.
• Passionate, enthusiastic and driven to regularly follow-up with loose ends.
• Able to thrive despite challenges while adopting a positive attitude under pressure.
• Basic knowledge in Accounting/Business studies
• Currently pursuing tertiary studies in Accounting, Business studies or relates studies or fresh graduates
• Hands on, willing to learn attitude
1) Role of commercial finance/co-pilot
2) Accounting policies & transactions/accounting entries
3) Processes: management reporting, financial planning process, financial analysis & financial control & SOX compliance
4) Systems: SAP, SAP BI, HFM, Hyperion Smartview, Kinaxis etc.
5) Working in a Cross-functional organization / inter-department (markets/business units).