The Finance Assistant Manager will be responsible for overseeing the financial operations of the company, with a strong focus on accuracy, audit management, and problem-solving. This individual will play a critical role in ensuring the integrity of financial reporting and compliance with accounting standards. The Finance Assistant Manager will work closely with external auditors, service providers, and internal teams to manage the audit process from a technical perspective, ensuring all financial records are accurate and audits are conducted smoothly.
Key Responsibilities:
1. Financial Reporting and Accuracy:
- Ensure the timely and accurate preparation of financial statements in accordance with relevant accounting standards (e.g., IFRS, GAAP).
- Maintain and update the general ledger, ensuring all transactions are recorded accurately.
- Prepare monthly, quarterly, and annual financial reports, including profit and loss statements, balance sheets, and cash flow statements.
2. Audit Management:
- Lead and manage the annual audit process, serving as the primary point of contact for external auditors.
- Prepare all necessary documentation and schedules for the audit, ensuring accuracy and completeness.
- Address and resolve audit queries, working closely with auditors to ensure a smooth and efficient audit process.
- Review audit findings and implement recommendations to improve financial processes and controls.
3. Compliance and Internal Controls:
- Ensure compliance with local and international accounting standards, tax regulations, and financial reporting requirements.
- Develop, implement, and maintain robust internal controls to safeguard company assets and ensure the accuracy of financial records.
- Conduct regular reviews of financial processes to identify areas for improvement and implement best practices.
- Problem-Solving and Technical Expertise:
- Identify and resolve complex financial issues, leveraging technical expertise to provide solutions.
- Analyse financial data to identify trends, discrepancies, and potential risks, and take corrective action as needed.
- Provide technical support and guidance to the finance team, ensuring accurate and efficient financial operations.
- Collaboration with Service Providers:
- Manage relationships with external service providers, including auditors, tax advisors, and financial consultants.
- Coordinate with service providers to ensure that all financial activities, such as audits, tax filings, and financial reporting, are completed on time and to the highest standards.
- Negotiate and manage contracts with external service providers to ensure cost-effective and high-quality services.
- Team Leadership and Development:
- Lead and mentor the finance team, providing training and development opportunities to enhance their skills and knowledge.
- Foster a culture of continuous improvement, encouraging the team to identify and implement process enhancements.
- Ensure that the finance team operates efficiently and effectively, meeting all deadlines and financial objectives.
- Budgeting and Forecasting:
- Assist in the preparation and management of the company’s budget, ensuring alignment with strategic goals.
- Monitor budget performance and provide regular updates to senior management, highlighting any variances and recommending corrective actions.
- Prepare financial forecasts and projections to support strategic decision-making.
- Stakeholder Communication:
- Communicate financial results, audit findings, and other key financial information to senior management and other stakeholders.
- Provide insights and recommendations to support strategic planning and decision-making.
- Ensure transparency and clarity in all financial communications.
- Working Capital and Intercompany Transactions Management:
- Oversee and manage working capital to ensure the company has sufficient liquidity to meet its obligations.
- Monitor cash flow and optimize the management of accounts receivable, accounts payable, and inventory.
- Manage intercompany transactions, ensuring accurate recording, reconciliation, and timely settlement of balances between subsidiaries and entities.
- Develop strategies to minimize intercompany discrepancies and streamline the financial operations across different regions.
Key Skills and Qualifications:
- Educational Background: Bachelor’s degree in Accounting, Finance, or a related field; CPA or equivalent certification preferred.
- Experience: Minimum of 5-7 years of experience in finance and accounting, with a focus on audit management, financial reporting, working capital management, and intercompany transactions.
- Technical Expertise: Strong knowledge of accounting standards (IFRS, GAAP), audit processes, internal controls, and working capital management.
- Problem-Solving Skills: Ability to identify and resolve complex financial issues efficiently.
- Communication Skills: Excellent written and verbal communication skills, with the ability to convey complex financial information clearly.
- Leadership: Proven ability to lead and develop a finance team, fostering a culture of excellence and continuous improvement.
- Attention to Detail: High level of accuracy and attention to detail in financial reporting and audit preparation.
- Collaboration: Ability to work effectively with external auditors, service providers, and internal teams.
Performance Metrics:
- Accuracy of Financial Reports: Percentage of error-free financial reports submitted on time.
- Audit Efficiency: Successful completion of audits within deadlines, with minimal findings or issues.
- Compliance: Adherence to accounting standards and regulatory requirements, with no significant compliance issues.
- Process Improvements: Number of implemented process improvements resulting in enhanced financial operations.
- Team Performance: Development and performance metrics for finance team members.
- Working Capital Management: Efficiency in managing working capital, including cash conversion cycle and liquidity ratios.
Intercompany Transaction Management: Accuracy and timeliness of intercompany reconciliations and settlements
