Accounting Manager

Accounting Manager

Fei Fah Medical Manufacturing Pte Ltd is a Singapore-based manufacturer specializing in wellness, healthcare, and personal care products. Building on a heritage of traditional medicated formulations, the company develops and manufactures topical health products, skincare, and wellness solutions under structured quality and regulatory standards. With growing capabilities in formulation development, quality systems, and production, Fei Fah supports the development and manufacture of innovative health and beauty products for regional markets.

Location: Singapore
Reports to: CEO

Role Summary

The Accounting Manager is responsible for overseeing the Company's accounting, financial administration, banking, budgeting, inventory and financial reporting activities. The role provides financial oversight and analysis to support sound business decisions, effective cost management and proper stewardship of Company funds and assets.

The Accounting Manager will work closely with Management, internal departments, overseas suppliers, banks and the outsourced accounting team to ensure accurate, timely and well-controlled financial operations. The role also oversees the daily administration of the Hong Kong accounts and supports financial reporting and compliance matters relating to the Company's regional operations.

Key Responsibilities

1. Accounts & Financial Management

- Oversee day-to-day accounting and financial administration activities of the Company.

- Prepare and process payments to vendors, suppliers and service providers.

- Handle purchase transactions with overseas suppliers, including verification of invoices, supporting documents and payment arrangements.

- Maintain accurate and complete records of financial transactions, invoices, receipts and supporting documents.

- Monitor accounts payable and receivable and ensure timely follow-up on outstanding matters.

- Troubleshoot discrepancies relating to inventory, accounting records and system updates, and ensure timely resolution.

- Conduct basic reconciliation and review financial records for accuracy and completeness.

- Work closely with the outsourced accounting team to ensure monthly and annual financial statements are completed accurately and on time.

- Coordinate with Management and relevant departments on financial matters and provide timely financial information when required.

2. Hong Kong Accounts Administration

- Handle the daily accounting and administrative matters relating to the Company's Hong Kong accounts.

- Coordinate transactions, payments, documentation and records relating to the Hong Kong operations.

- Liaise with relevant parties and the outsourced accounting team to ensure proper and timely updating of Hong Kong financial records.

- Monitor outstanding accounting and administrative matters and ensure proper follow-through and closure.

3. Financial Analysis & Management Reporting

- Conduct monthly and ad hoc sales analysis to identify trends, variances, opportunities and areas requiring management attention.

- Prepare financial analysis and reports to support Management's business and operational decisions.

- Conduct efficiency and effectiveness reviews of marketing expenditure and assess the return and business impact of marketing spending.

- Analyse actual expenditure against budget and highlight significant variances.

- Provide financial insights and recommendations to improve cost efficiency and financial performance.

4. Budgeting & Financial Planning

- Coordinate and prepare quarterly and annual marketing budgets in consultation with Management and relevant departments.

- Monitor marketing expenditure against approved budgets and provide variance analysis.

- Support the preparation of annual financial budgets and forecasts where required.

- Track budget utilisation and highlight potential overspending or cost-control concerns.

- Assist Management in financial planning and evaluation of expenditure priorities.

5. Cash & Banking Management

- Handle all Company banking matters, including payments, fund transfers, bank documentation and correspondence with banks.

- Manage and monitor Company bank accounts and cash positions.

- Ensure sufficient funds are available to meet operational and payment requirements.

- Manage Company funds with the objective of optimising available cash while maintaining appropriate liquidity.

- Monitor prevailing bank interest rates and recommend suitable placement or allocation of surplus funds to optimise interest yield, subject to Management approval.

- Maintain proper records of banking transactions and ensure appropriate authorisation and controls are observed.

6. Inventory & Stock Control

- Monitor the accuracy and timely updating of inventory and accounting records.

- Troubleshoot discrepancies between physical inventory, inventory records and accounting records.

- Coordinate and conduct quarterly stock takes.

- Investigate stock variances and work with relevant departments to identify root causes and implement corrective actions.

- Ensure appropriate documentation and accounting treatment for inventory movements, adjustments, damages and write-offs.

- Monitor inventory-related leakages and identify areas of potential financial loss.

7. Company Assets & Loss Prevention

- Maintain proper records and accountability of Company assets.

- Monitor the movement, condition and utilisation of Company assets.

- Work with relevant departments to identify and address leakages, losses, damages or unauthorised disposal of Company assets.

- Ensure defective goods and recoverable items are properly identified, documented and followed up for recovery where applicable.

- Establish appropriate controls to minimise the risk of employees disposing of, damaging or misusing Company assets without proper authorisation.

- Ensure asset disposals, write-offs and recoveries are properly documented and approved.

8. Financial Reporting, Banking Review & Compliance

- Coordinate the preparation of financial information and supporting documents required for annual bank reviews.

- Prepare and compile the annual report and relevant financial information required for bank review and assessment.

- Handle applications relating to double tax deductions and maintain the necessary supporting documentation.

- Ensure financial records and supporting documents are properly maintained for audit, banking, tax and management purposes.

- Support the outsourced accounting team in preparing information required for annual financial statements and other statutory or financial reporting requirements.

9. Vendor & Procurement Financial Coordination

- Review purchase transactions and supporting documentation to ensure accuracy and proper approval.

- Liaise with local and overseas suppliers on invoices, payment matters and account discrepancies.

- Ensure purchase transactions are properly recorded and matched with relevant supporting documents.

- Monitor payment terms and assist in managing supplier accounts effectively.

10. Administrative & Organisational Support

- Maintain proper physical and digital filing systems for financial, banking, inventory and administrative records.

- Provide financial and administrative support to Management when required.

- Coordinate relevant meetings, documentation and follow-up actions relating to finance and administrative matters.

- Ensure documents, communications and financial arrangements are handled in a timely, accurate and organised manner.

- Support a professional, well-controlled and efficient working environment.

Key Competencies & Requirements

- Degree in Accounting, Finance, Business Administration or equivalent

- Minimum 5 years of relevant experience in accounting, finance or a similar role, preferably with experience in a manufacturing or trading environment.

- Strong understanding of accounting principles, financial administration and financial controls.

- Experience in handling banking matters, cash management and supplier transactions.

- Strong analytical skills with the ability to interpret sales, expenditure, inventory and financial data.

- Experience in budgeting, variance analysis and management reporting.

- Experience working with outsourced accounting teams is an advantage.

- Experience handling overseas transactions and regional accounts, particularly Hong Kong accounts, will be an advantage.

- Proficient in Microsoft Office, particularly Excel, and familiar with accounting or ERP systems.

- Strong organizational and problem-solving skills with attention to detail.

- Able to work independently, manage multiple priorities and meet reporting deadlines.

- High level of integrity, accountability and discretion when handling Company funds, financial information and assets.

Key Performance Expectations

The Accounting Manager is expected to:

- Ensure accurate and timely financial and accounting records.

- Ensure monthly and annual financials are completed within the required timelines.

- Maintain effective controls over Company funds, inventory and assets.

- Provide timely and meaningful financial analysis to Management.

- Analyse and provide analytical, accurate business forecast & reports and advice to the Sales, Marketing and Management Team.

- Analyse cost and provide effective viable business advice to operations & management.

- Identify cost inefficiencies, financial leakages and opportunities for improvement.

- Ensure banking, budgeting, stock take and financial reporting matters are properly managed and followed through.

- Maintain strong coordination with the outsourced accounting team, banks, suppliers and internal stakeholders.

-Demonstrate ownership, sound financial judgement, confidentiality and accountability in all financial and administrative matters.