Set-up and leadership of the finance team
- Set-up and lead a motivated finance team, to work alongside other group entities (Supply Chain, IT and Human Resources, technical teams and sales teams), to best support proactive decision making within the group
- Restructure the finance function, reorganising the existing set-up and establishing best-in-class processes to build up a modern finance department, functional across all group subsidiaries
- Manage the day to day accounting activities by ensuring adherence to the organisational rules and regulations, and statutory compliance; train and mentor staff by identifying the skills and gaps, ensure proper communication between team members, hire and terminate staff members whenever there is a requirement
- Maintain excellent relationship and establish and maintain credibility with other group entities (other employees, management, board, shareholders, unions) as well as external stakeholders (government organisation, insurance organisations, banks, audit and financial firms, etc.)
Deployment and utilisation of appropriate IT tools
- Coordinate with the technological department to set up a proper and modern ERP system and other required IT tools building on the company existing tools, to be used consistently across all group entities and across subsidiaries, helping deliver sound financial reports
- Ensure adherence of all finance staff to the IT system, as well as optimal utilisation of the system functionalities
- Ensure adherence and proper and consistent utilisation of the IT system by other group entities, across subsidiaries
- Monitor and evaluate the IT system performance, and suggest improvements whenever needed
Ensure proper execution of core accounting functions
Information compilation and reconciliation
- Collate all the relevant financial information (expenses, liabilities, revenues, assets, etc.) and documentation that would ensure readiness and fast execution of the relevant financial activities
- Review the financial data and information, update it, identify inconsistencies and take remedial actions
- Ensure timely reconciliation of all accounts, verify its accuracy by tracking and monitoring the financial records, etc.
- Prepare periodic financial statements, including profit and loss accounts, budgets, cash flows, variance analysis and commentaries
- Coordinate audits with external and internal auditors
Spending / budget tracking
- Ensuring spending is kept in line with the budget, including cash and treasury management, working capital monitoring and optimisation, etc.
- Monitor debtors and ensure that collections are consistent within the given time limit
- Manage all company taxes ensuring timely and accurate filing with tax authorities
- Manage exposure to FX fluctuations and develop hedging policy
Leverage the finance department to become a key decision-making contributor to the company
Internal reporting
- Develop and deploy relevant reporting tools and deliver regular reports & business updates to the management and the board, including specific analysis, highlight of any red flag, etc. allowing for informed decision-making and strategy adjustment
- Assess the need and develop and deploy when relevant reporting tools for other departments (procurement, production, sales, etc.), to help make financial decisions
- Implement corporate governance procedures, risk management and internal controls
Budgeting
- Develop financial performance analysis and forecasting tools
- Provide assistance for the preparation of annual budgets, including the preparation of required financial analysis and reports
- Ensure that the approved budget has been adhered to, communicate inconsistencies in the budget and communicate the variations in budget to the management
Support for decision-making
- Assess financial consistency of ongoing operations, advise on the financial implications and consequences of business decisions, help formulate business strategies
- Advise on ways of improving business performance, optimising the cost structure (including the synergies across group entities), negotiating sources of financing if required, etc.
- Assess the financial feasibility of new projects within the company (new lines of business, acquisitions, investment in new territories, etc.) to assist in making sound strategic decisions
- Adopt an overall proactive attitude to develop the business, suggest new projects, and contribute on an ongoing basis to the institutionalisation of the company
