Gross Margin Financial Accountant

Job Title: Gross Margin Financial Accountant
Contract Type: Permanent
Location: Milton Keynes
Salary: 35000 - 45000
Reference: HRGRK369290
Contact Name: Sunny Aujla
Contact Email:
Job Published: November 26, 2018 11:52

Job Description

Sainsbury’s Argos is one of the UK’s leading digital retailers, selling over 60,000 products online and across 800 stores. We offer outstanding convenience, choice and value to nearly a billion online customers and 29 million stores customers each year. Sainsbury’s Argos is at the heart of the Group’s growth strategy. Since joining Sainsbury’s, Argos has revolutionised the way we do business, bringing expertise, technological innovation and hugely talented people to the team. 

We have outperformed the market in a number of our key business areas by presenting customers with convenience, choice and value. In the 18 months since we acquired Argos we have been rapidly integrating our two businesses. Joint range planning has enabled us to rationalise our product offer and give customers better overall choice and value. Investing in technology is now fundamental to our business : 60% of Argos sales now start online, with 70% of those sales initiating from a mobile device. As well as opening 191 Argos stores in Sainsbury’s supermarkets, customers can also pick up their Argos and Tu clothing orders from 192 collection points in our supermarkets, where customers can also collect eBay and DPD parcels. Our own delivery network is also breaking new ground. We are the only retailer in the UK who can deliver to 90% of UK postcodes within four hours.


In a nutshell:

In this role you will deliver process excellence and expertise, period-end and technical accounting for sales to margin including IFRS5s, DI Cost Model, Merchandise Price Variances and EROS / GRN processes with guidance from the Gross Margin Accounting Manager. You will deliver end-to-end budgeting, forecasting and analysis for the relevant areas, creating stakeholder relationships to ensure costs and discretionary spend is understood by stakeholders.



The Financial Accounting Team will provide the financial controls to safeguard our business and provide accurate and insightful numbers to understand performance.  This team provides assurance of accuracy of accounts, liaising with Audit and Sainsbury Group to provide understanding of company performance with an appetite to ensure risks and opportunities relating to sales and margin are identified, understood and mitigated where possible.


What I need to do:

  • To deliver period, quarter and yearly reporting for Sales adjustments including IFRS5s, (P&L, Balance sheet & Cash), provide robust analysis of drivers and variances to all relevant stakeholders.
  • Work closely with Manchester Sales Processing Teams to understand Polling Failures processes and explain variances to all relevant stakeholders.
  • Deliver appropriate financial control and technical knowledge to ensure IFRS5s and any other Sales adjustments adhere to Financial regulations and are in line with Sainsbury’s Group accounting policies.
  • To deliver budgets, forecasts for Sales adjustments to enable management to make decisions based upon the most up to date and accurate views of current and future performance. 
  • To deliver robust Cost Model assumptions for imported products for future catalogues with assistance from Distribution Finance and Gross Margin Accounting Manager. To ensure cost model assumptions are accurately and consistently reflected in Rockblocks.
  • To drive improvements in quality and efficiencies of cost model data in Rockblocks ensuring accurate accounting and MI delivers the information required.
  • To produce weekly EROS / GRN reconciliations, investigate variances and further improve reconciliation process.
  • To provide accounting expertise and control for Merchandise Price Variances for Imported Products.
  • Identify and implement opportunities to improve finance processes related to all the above areas.
  • Oversee financial controls, identify where controls are not operating and drive remediation.
  • Share relevant tools and lessons learnt with Finance & Non-Finance stakeholders.


What you need to know:

  • Qualified accountant with indicative 0-3 post-qualification experience (or studying towards a professional accounting qualification)
  • Proven technical accounting understanding
  • Ability to present complex information in a simplified manner
  • Ability to identify process issues, understand & fix root causes
  • Strong analytical skills, Excel & Access skills and attention to detail
  • Ability to work fluidly with data and across systems e.g. reporting tools


What we offer:

If being part of a hugely influential Finance team wasn’t enough, you’ll also receive a host of great benefits. As well as a competitive salary and a huge range of learning and development opportunities, you’ll also enjoy a bonus scheme, holiday allowance, pension, a save as you earn scheme and staff discounts at Argos, Sainsbury's and Habitat.