Employer: Mullen Lowe London
Wage: £403.13 Per Week
Hours: 37.50 Per Week
This is a great opportunity for someone looking to start a finance career in the advertising industry with a focus on the commercial function.We’ll support the successful candidate through qualification and give them opportunities to apply what they’re learning to real life business scenarios.
The Commercial Finance Assistant is a new role created to support our expanding department.
The Commercial Finance Department looks after and helps maximize the revenue & profitability of the agency, working very closely with the account management teams and ensuring all aspects of the client finance process are running smoothly.
The role will be supporting the Commercial Analysts in their duties, and maintaining Commercial and Financial best practice across the business. We’ll also provide Study support for completion of accounting qualifications.
The exact day to day tasks will vary, but may include
Revenue Reporting and Forecasting
-Learning about methods of Revenue recognition and accounting policies
-Calculation & reporting of monthly Revenues earned for certain clients, including preparing journals for WIP clearing, Accrued and Deferred Revenue, and preparation of burn reports to calculate the revenue to recognize
-Accrued & Deferred Revenue reporting for both internal and IPG stakeholders
-Maintaining submissions of evidence required for Revenue Recognition
-Reconciliation of Revenue reported to the financial system
-Preparation of variance analysis of reported Revenue vs. Forecasts
-Assisting Commercial Analysts in preparing Budget & Forecast submissions and being involved in wider agency Budget & Forecast process
-Work closely with account teams & get to know their accounts to ensure accurate forecasting of Revenue, analyzing and interrogating figures received and ensure updates reflected in forecasting system
-Regular analysis of Revenue position
Balance Sheet & WIP
-Understanding client billing and budget tracking process
-Working closely with both the Billing Team & Commercial Analysts in ensuring the smooth running of the transactional side of the client accounts
-Ensuring client billing schedules are adhered to
-Monitoring the WIP balances and reviewing open jobs
-Ensuring Accrued Revenue is cleared down in a timely manner
-Proactively chasing purchase orders and approvals for current month Revenue
-Helping to investigate and resolve any issues
Profitability & Time reporting
-Running time reports for the team
-Prepare and send monthly time reports to client leads
-Correct time entries where required
-Preparation of monthly utilization reports by department, creating an efficient streamlined process
-Preparing and analyzing time reconciliations, comparing to staffing plans and Revenue received
-Preparing profitability reports across clients
-Support during Internal and External audits
-Ad Hoc projects and queries as dictated by business needs
- 5 GCSEs A*-C (4-9) including Maths and English or equivalent qualifications
- 3 A-levels A-C grades or equivalent qualifications.