The finance Specialist generally has superior and more in-depth finance knowledge compared to the Senior Coordinator. He or She shall be part of the local accounting team involved in invoice and journal posting, claims processing and month-end, quarterly and annual closing. Financial - Financial performance: Ensure sub-region's or area's working capital performance are delivered to targets by collaborating with them through monitoring of key indicators and identifying development trends and outliers. - Financial compliance: Support sub-region and areas in process adherence through regular review of key indicators and dialogues with the local teams. - Ensure alignment to global blue-print financial processesNon-Financial - Strategic execution: Driving projects regionally and locally to support global goals and plans - Compliance: Ensure the organization's finance practices are in compliance with relevant laws and regulations.
- Driving Financial Performance:
- Support finance manager to drive sub-region's and areas working capital performance
- Drive working capital performance of areas assigned - Financial compliance:
- Ensure sub-region's and areas adherance to corporate guidelines and policies; Ensure adherance to local GAAP - Review credit applications from sub-regions and areas, ensuring subsidiaries adherance to credit guidelines
- Regional representative in terms of liason and governance of Internal Control system and reporting
- Forecasting and budgeting for overheads and investments including being the regional team maintaining the IFRS 16 contracts
- Regular reporting:
- OUFC/X-Revenue/Unallocated Cash (monthly)
- Risk Management Report (quarterly) - Invoicing and claims processing for Regional HQ
- Month-end closing
- Prepayments and accruals
- SAP financial consolidation package
- Revaluation of balances
- Intercompany charging/reconciliation including raising cost plus remuneration invoice
Percent of Time
- 30% Driving Financial Performance
- 10% Financial compliance
- 10% Regional Credit Management
- 20% Local accounting and month-end closing
- 20% Projects
- 10% Others
or
- 10% Local accounting and month-end closing
- 10% Team or direct report Supervision
Quantitative
- Financial Performance: DSO, DPO, AR Overdue, Early payments.
- Compliance/Credit/Internal Control: Reporting deadline
- Monthly/quarterly closing/reporting deadline
Qualitative
- Compliance: Compliance with relevant laws, regulations, financial reporting standards, corporate guidelines and policies.
- Leadership: Effectiveness in leading and developing the finance team (should be trained and be ready to take up leadership responsibilities even if currently there is no direct report)
Internal Parties
Impact from:
- Global HQ: Guidelines, policies, directions from different functions ie Accounting (including credit), Treasury, Tax, Internal Control
- Local BA/Finance team: Guidance on all financial and non-financial processes and topics
- Sales: Understand sales targets and goals and develop credit management policies which are in line with the overall sales strategy
- Customer Service: Accuracy of invoicing, process of document releasing, appropriate dispute identification
- Operations: Accuracy of work order creation, negotiation of payment terms, timeliness of vendors invoices
Impact to:
- Senior management: Provide insights through key performance indicators so that the sub-region's or areas performance can be tracked to improve productivity and efficiency.
- Global HQ:
- Accounting
- Consolidation of accounting packages and key performance indicators. Prevention of revenue leakage and costs duplication. Review of credit applications and insurance coverage.
- Treasury
- Discussion of exchange rates, cash remittances, bank balances and other topics
- Tax
- compliance and progress of tax audits
- LSC
- Adherance to investment guidelines - Local Sales: Review and approval of credits
External Parties
Impact from:
- Financial institutions and banks: Overall regulations in different countries affecting cash management of subsidiaries.
- ACRA and ASC: Ensure compliance with accounting standards and corporate governance
Impact to:
- Local governmental bodies eg ACRA: Provide annual returns
- IRAS: Support external consultant in preparation of annual tax computation and review the final tax returns; prepare and file quarterly GST tax returns
- Corporate Secretary: Liasie on matters concerning corporate governance and board of directors
- Auditors: Ensure compliance with accounting standards and process controls
Qualifications- Education: A bachelor's degree in accounting. CPA or CA preferred.
- Experience: 5-7 years of relevant experience in finance or accounting is typically required.
- Compliance: Knowledge of relevant laws, regulations, and financial reporting standards, and ability to ensure the company's financial practices are compliant.
