Finance & Admin Manager

Early Applicant

7-9 Years

Job Description

This role reports to the Town Council Deputy General Manager, Finance and manages a team of Finance Executives and Associates as direct reports.

Key Roles & Responsibilities:

Budget

Preparation and review of Budget on quarterly basis.
Variance analysis conducted on budget vs. actual expenditures.
Report to Finance Committee or its equivalent on budgetary performance as per Code of Governance requirement.

Management Accounts and Reports

Prepare overhead and capital expenditure statements, income and expenditure statement and balance sheet.
Prepare and present financial statements at the end of each financial year as well as to ensure that all journal adjustments and supporting schedules are properly and adequately done for audit purposes.
Liaise with external and internal auditors on financial matters.
Ensure compliance with Town Council Act and Financial Rules.

Income, Collections and Expenditure of Town Council

Ensure that all collections and expenditures are recognised in accordance to Town Council Financial Rules (TCFR) and accounting standards.
Ensure collections are reported on a timely basis. Coordination with vendors on timely collection. Report on discrepancies or change of reporting requirement if any.
Payments are within timeline as stipulated in contracts. Study for loopholes and bottlenecks to ensure compliance and recommend for improvement in processes if need be.
Payments are made in accordance to TCFR ensure budgetary conformance.

Financial Systems

Timely closure of financial systems. Ensure there is proper control and procedure in place.
Ensure that the ERP system is in place. Study for improvement on processes and recommend where necessary.
Understand the business context of IT systems. Liaise with IT vendors for workflow management.

Management of Fund

Ensure there is an investment policy in place with cashflow projections.
Report to the Finance Committee or its equivalent on performance of investments and compliance monitoring.
Monitor and update funds to be transferred monthly from current account to fixed deposit account for sinking fund purposes.
Monitor the current accounts and ensure that there is sufficient amount to meet payments without going into overdraft in the accounts.
Monitor the fund manager's investment portfolio and arrange for periodic review.

Arrears Management

Ensure arrears management policy is in place and that there are proper control measures.
Report and control arrears cases and amounts in accordance to Town Council approved policy.
Prepare the monthly arrears analysis statement and the ageing analysis of cases in arrears for council's management report and EXCO / Finance Committee meetings.
Monitor the arrears status, and recommend for bad debt written off yearly, and make provisions based on policy. Review and revise if required.
Attend to enquiries on arrears and assist property managers in the arrangement of the conservancy instalment plan when required.

Reconciliation of Accounts

Review monthly and yearly reconciliation statements of accounts e.g. debtors, creditors, banks, current, fixed deposits, clearing, etc.
Take appropriate action for items outstanding in the accounts.

Taxation

Ensure that the property tax, GST and income tax returns are submitted according to the statutory requirements.
Review of taxes and provision to ensure that it is sufficient for yearly basis.
Ensure timeline is met by Finance on submission and reporting.

Payroll

Ensure the timely and accurate preparation and payment of monthly salary to contract staff and monthly allowances to the Town Councillors.
Ensure the timely submission of CPF contribution for contract staff to the CPF Board.
Ensure the timely submission of income information for the contract staff and town councillors allowance to IRAS for the purpose of income tax auto-inclusion scheme.

Finance Committee and TC Meeting

Provide Secretarial support to the Council's Finance Committee and report to GM on financial issues raised by the Committee, which need the Council's approval.
Attend Town Council meetings to present and clarify financial matter when necessary.

Financial Policies and Implementation

External and Internal Audit Coordination

Coordinate with departments for the closing of monthly and yearly financial reports.
Prepare audited statements as per Ministry of National Development (MND) requirements.
Propose to Finance or Audit Committee on internal and external auditor appointments.
Engage auditors and plan on financial and internal audit for the financial year.
Meet statutory requirements as per MND guidelines.

Key Requirements:

Recognised degree in accountancy, ACCA or its equivalent.
Proven working experience as a finance manager in previous roles.
Preferably over 7 years of relevant finance and accounting related experience and expertise in financial processes, controls, risk management and corporate governance areas. Internal audit and experience in enterprise risk management will also be relevant.
Qualified Chartered Accountant and prior Big 4 experience preferred.
Good knowledge of accounting principles and procedures, with experience in creating financial statements and with general ledger functions and the budgeting and period closing process.
Digitally savvy and competent with finance systems.
Experienced in dealing with stakeholders such as management, auditors, bankers and consultants.
Preferably familiar with town council financial management to provide oversight and guidance.

Key Attributes:

Good analytical / problem-solving skills with the ability to connect the dots and be able to toggle between financial, operational and strategic modes.
Dynamic individual, with high energy levels, who relishes challenges.
Collaborative and able to work well with stakeholders at senior management and operational levels.
Good stakeholder management, communication and presentation skills.
Ability to work at fast pace and deal with pressure and deadlines.
Have good character, values, integrity and personal ethics.