Finance Manager
FABA COMMERCIAL SERVICES WLL
Total years of experience :24 years, 10 months
• To ensure effective financial and management accounting across the organization by the management and development of financial controls and systems within the Finance department, preparation, development and analysis of management accounting and other financial and reporting information and the provision of high quality support and advice services to budget holders, managers, and other staff
• Taking responsibility for ensuring the accuracy of the accounting and control information held in and reported from the organization’s accounting systems
• Supports in developing and delivering the organization’s financial and business strategy
• Continuous review of financial, control and management information systems and procedures, implementing improvements across the organization.
• Updating, reviewing and documenting the organization’s financial policies and procedures
• Ensuring accuracy of financial and related information held outside the finance systems, such as by HR, membership, or in programmed budgeting systems
• Improving the systems surrounding all aspects of the organization’s budgets, forecasts and business planning
• Preparing and analyzing cash flow statements, income and expenditure accounts and balance sheet accounts
• Assisting in the production of the draft year end accounts, supporting schedules and liaison with the auditors
• Planning projects exploring potential problems or opportunities, ensuring that resources and staff are available to execute the project. Carrying out any necessary research, analyzing it and concluding on that information
• Support and advice staff on contractual and other ongoing arrangements with suppliers.
• Assisting and supporting programmed and project managers with the preparation of financial reports for funding applications and reports to funders. Compiling the financial information for inclusion in end of year grant claims, final claims and returns, and external grant audits
• Developing and maintaining programmed and project reporting and management systems as required
• Providing financial management support for the organization’s programmed delivery and consulting activities
• Supporting in the development of the organizational and project budgets. Ensuring national and regional projects perform against budget by providing financial and monitoring reports, analyzing variances and addressing potential problems with budget holders and managers
• Providing management direction and development support and responsibility for the performance management of the finance team
• Providing advice, support and training on financial issues to the organization staff directly, or to members through the organization programmed on a consultancy basis
• General Staff Responsibilities
• To work in harmony with the organization’s vision and values
• To promote and ensure compliance with the organization’s policies
• To work in a collaborative and entrepreneurial manner to support and drive income generation.
• To attend and undertake regular supervisions and annual performance appraisals.
• To manage and undertake training / professional development as necessary.
• To promote the use of technology and be self-servicing.
• To work as part of a team, supporting colleagues and communicating effectively with all.
• To encourage and support innovation throughout the organization.
• To work in the most resource efficient and effective manner
• To act as an ambassador for the organization
• Any other duties as may be required by the Chief Executive
• Review the company's financial objectives and goals to determine if the policies and practices established by the company are being executed as planned.
• Recommend how the company can make adjustments to its practices and policies to create results that align with those goals and objectives.
• Reviewing and reporting on accuracy, relevance and timeliness of financial and other relevant information provided for management.
• Ensure that the financial paperwork from the company aligns with the financial statements, eliminating the possibility of fraud or incompetence overinflating the company's stated financial success.
• Carrying out independent appraisals of the effectiveness and validity of the standards, procedures and policies by which a company's financial, information and physical resources are managed.
• Making recommendations on reviewed procedures and systems; reporting recommendations and findings and monitoring management response, as well as implementation.
• Produce, analyze and compile financial statements and prepare related reports / information as required.
• Conduct monthly, quarterly semi-annually and yearly financial and operational audit.
• Prepare monthly financial reports for review by the Chief Finance Officer such as cash forecasting, cash flow requirements.
• Produce, analyze and compile financial statements and prepare related reports / information as required.
• Prepare monthly & Annually Expenses Provision & Prepaid Expenses details & entries.
• Coordinate and facilitate annual audits with external auditors by arranging meetings, providing information required, necessary clarifications, etc.
• Supervise A/P Invoices & Supplier reconciliation with all Aspects.
• Supervise & ensure timely and accurate payment of suppliers and employees according to approved authorities and contract provisions.
• Preparing allied adjustments related to Advances & resolve Issues regarding to Payroll.
• Work in conjunction with payroll staff to ensure accurate and timely recording of payroll and benefits’ expense in the accounting system; & Disbursement of monthly Cash Payroll of various Employees with their allied adjustments.
• Provide Consultancy to IT Department regarding Customize Financial Reporting in ERP Oracle Financial.
• Prepare Head Office and Branch Reconciliation Statement.
• Prepare Bank Reconciliation of all bank accounts the company
• Provide support for the cost reductions, make or buy, capital project acquisitions analysis, alternative costing techniques and cost analysis.
• Responsible for the preparation of budget for the monthly forecast and yearly business plan
• Prepares balance sheet and income statement, cash flows and statement of retained earnings.
• Reconcile financial information entered into accounts such as general ledger accounts.
• Review and maintain general ledger activity and generates subsidiary control procedures (General Ledger & Journal Entries)..
• Responsible for the payment of Accounts Payable of the company.
• Prepare the following schedules of: Advances of Officer and Employees - Personal, Liquidation, & Advances to Customers & Procurement Expenses.
• Prepare, review, analyze and ensure proper classification of Fixed Assets and Properties of the company.
• Prepare journal entries, regular entries, and other adjustments such as Depreciation of Fixed Assets, Amortization of Prepaid Expenses, and Payroll of Regular Employees, Accruals, Bank Reconciliation adjustments and others.
• Responsible for the company’s financial plans and policies, its accounting practices, maintenance of its fiscal records, and the preparation of financial reports.
• Involves supervision for general accounting, property accounting, internal auditing, cost accounting, and budgetary control.
• Development, analysis and interpretation of statistical and accounting information in order to appraise operating results in terms of profitability, performance against budget for effective organization.
• Reviews, analyzes and presents financial data, including revenues projections and expenditure reports, to determine funding requirements
• Prepares financial statements, reports of operations, expenditure reports, statistical data and other information concerning financial requirements, assists in gathering and reviewing data for the preparation of budget work programs
• Maintains various ledgers, journal, register and other fiscal records, allocates revenues to appropriate functions, and classifies expenditures and posts to various accounts as required.
• Reviews and processes expenses vouchers, invoices and other fiscal documents for payment, reconciles various financial reports and other data concerning fiscal operations.
• Determines payroll requirements, maintain payroll data, prepares and processes monthly payrolls.
• Assists in performing special studies, analyses and projects as assigned
• May provide guidance and work direction to accounting support staff in processing accounting transactions.
• Works directly with staff from other sections to resolve technical accounting and reporting issues and problems
• Designs and creates custom financial reports
• Maintain the company’s system of accounts and keep books and records in all company transactions and assets.
• Participate for the major economic objectives and policies for the company and prepares reports that outline the company’s financial position in the areas of income, expenses and earnings based on past, present and future operations.
• Coordinate and direct preparation and allocation of the budget and financial forecast, institutes and maintains other planning and control procedures including cost accounting system, analyzes, reports and investigate variances to the scope through cost trend analysis.
• Determine depreciation rates to apply to capitalized items and advise management on desirable operational adjustments.
• Participate for the final responsibility for providing effective financial controls for the organization.
• Summarize financial accounts to facilitate statutory audit at the year end.
• Obtain invoice authorizations in accordance with the company limits
• Control and check the veracity for the preparation and submission of manpower daily reports (time sheet).
• Establish and maintain control of inventory of consumable items, which equal or exceed specified criteria.
• Generate the monthly, quarterly, semi - annually and yearly cost reports.
• Maintains records and control the overhead expenses of the project.
• Reporting to General Manager and Cost Control Manager.
• Responsible for the fund requirement and allocation of all plant and buying stations of CIIF Oil Mills of the Philippines.
• Oversee all fund allocated and required for the day to day transactions.
• Assist the Treasury Head of the CIIF Oils Mills in funding for the purchases, sales (local & export) and operating expenses of the company.
• Determine the termination of money market placements (peso & foreign currencies) for the day to day transactions.
• Recommend fund requirement and its resources and communicates and monitor daily cash and financial position throughout the company, including management groups.
• Review and approved payments.
• Responsible for the custody of all funds belonging to the company and serves as a custodian of various financial documents.
• Responsible for the closing and reconciliation of all books and accounts.
• Prepare all obligatory reports such as cash reconciliation, all receipts and disbursements.
• Oversee the payroll functions.
• Makes recommendations regarding accounting reserves, assets and expenditures.
• Participate in special projects related to accounting system and cash control or treasury fund, internal and external reporting and other division and corporate activities.
• Responsible for the daily bank transactions of the company.
• Responsible for the General Accounting of the company for the accuracy and timeliness of accounting for all transactions within the industry assigned, ensuring all transactions in accordance with the Generally Accepted Accounting Principles (GAAP) and company policies and procedures.
• Preparation, review and management of monthly financial reports of the company.
• Analyzes financial information in detailing assets, liabilities and capital.
• Audit financial record of the company, ensure records and other type of documentation are properly maintained.
• Assist with external audits by outside entities.
• Monitor, analyze and review transaction inventory, scrap, cost of sales and manufacturing variances.
• Ensure compliance with inventory and cost policies and procedures.
• Recommend and implement improvements to the existing inventory and cost system.
• Assist in the physical inventory and cycling counting process.
• Analyze monthly Profit and Loss fluctuations for the preparation of operations and budget vs. actual cost of company operations.
• Monitor system for the general fund accounting.
• To plan, organize and carry out the internal audit function including the preparation of an audit plan which fulfills the responsibility of the department, scheduling and assigning work and estimating resource needs
• To make recommendations on the systems and procedures being reviewed, report on the findings and recommendations and monitor management's response and implementation
• To review and report on the accuracy, timeliness and relevance of the financial and other information that is provided for management
To work with management to ensure a system is in place which ensure that all major risks are identified and analyzed, on an annual basis