Very important new job @OR posted today RE M&S11 Oct 2024 14:27
Ocado Retail, a joint venture owned 50/50 by Ocado Group (OG) and Marks and Spencer (M&S), is expected to deconsolidate from OG and consolidate into M&S as of April 2025. The primary purpose of the Finance change and transformation programme is to prepare for the consolidation switch from OG to M&S, ensuring that all financial accounting, reporting and regulatory requirements are fulfilled along with accelerating and enhancing month end close and ensuring the wider business is informed and prepared for any resulting operational impacts.
Critical objectives of the Finance change and transformation programme include:
Alignment of ORL financial calendar to M&S financial year.
Faster month end close to facilitate efficient consolidation.
Review of M&S accounting policies, chart of accounts, controls, governance, compliance, ESG and other reporting requirements with a gap analysis performed and delivery plan to close any gaps formed and executed.
Systems and tools set up to operate efficiently under the new financial year and taking into account any further controls and compliance requirements.
Finance ERP system will need to be reimplemented for the changed Financial calendar.
Inputs, processes and outputs clearly defined and communicated for ongoing Budget, Forecast, five year plan and management reporting requirements.
Business impact assessment performed that takes into account all departmental implications
In addition to the main Finance change and transformation programme there are further Finance transformation initiatives in scope, which span across cash flow forecasting, management reporting improvements, Oracle Fusion functionality and enhancements and improving the PO > GR > Invoice processes (GRNI) across Ocado Retail.
Looks like M&S to deconsolidate Ocado early next year
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