Regional Financial Assurance Manager, Dubai
تفاصيل الوظيفة
Reporting to HQ Finance Regional Office (RO) Head / Agency Network Management, the role is responsible for all finance, system, treasury & taxation-related matters of Region agencies. The responsibilities encompass ensuring reliable, accessible, accurate financial information from the finance teams of the Region agencies. The role would also partner with the Regional Office Head in exercising effective controls of the businesses to protect the commercial interest of the Principal and ensures improvement of internal controls that support the growth of Region agencies. The role is expected to provide sound financial advice and counsel to the RO Head as well as the organization's senior management and leadership team by synthesizing internal and external data and studying the economic environment. He/She often has a key role in implementing best practices in order to identify and manage all financial and business risks and to meet the organization's desired business and fiscal goals. He/She is expected to have a firm grasp of economic/business trends and to implement work improvement projects that are geared towards quality, compliance and efficiency in finance. The role would bring best practice to all Region agencies, set benchmarks and support the existing Finance Managers to improve their performance, broaden their vision, improve communication to HQ and therefore decision making, remove local partisan interests and in so doing, improve communication and trust at Principal level, which remains an issue. The role demands a professional with full end-to-end finance knowledge which (with a couple of exceptions) does not currently exist within the region finance structure. The requirement is to have someone well versed in ERP and with the required regional and business sector knowledge so as to address the ERP (GFS) from finance and control point of view, coupled with experience of the local context otherwise the regional financials may not portray a true and fair view. The direct reports will be based in various locations throughout the regional so travel will be required to effectively identify weaknesses, provide support and coach & manage the team in the same way the Regional head operates. Key Responsibilities: Finance Management:
- This role will ensure compliance to corporate policies and procedures and uniform accounting policies are adopted across all the offices under the Regional office. It will ensure expenses and incomes are booked under the proper codes to present a reliable and true and fair view of the Financial Statements.
- The role will ensure that Statutory audits are conducted within stipulated time frame and all statutory returns are filed on time and dividends are paid to the shareholders as frequently as the local rules permit.
- The role will ensure monthly reports like MMR and MRP are delivered on time with accuracy and consistency.
- Ensure bank reconciliations are performed and reconciliation items are resolved monthly
- Ensure ASA balances are reconciled monthly and reconciliation items resolved monthly
- Accurate and timely financial reporting – reviewing accounting and book closure processes of the entities.
- To perform analytical review on financial reports
- Monitor the projected and actual cash flow of the agencies on monthly basis
- Ensure idle funds are remitted to HQ on a timely basis and funds not remitted are utilized where possible locally or regionally to get maximum returns/ reduce reliance of Principal funding
- Ensure prompt payment of all dues to avoid any losses and keep a regional control of prefunding requirements so as to improve projected cash flow
- To source FX at most competitive rates – to represent such regional challenges to HQ for rapid decision (see Coronation Bank affair in NG as example of time/ value lost) due to lack of perception of the issue.
- Negotiate with banks the best deal for FX / interest rates, research and propose regional banking relationship to favor the Principal
- Ensure Effective working capital management though monitoring of AR and AP aging and evidence of internal review and actions taken.
- Ensure tax planning policy set by HQ is adhered to
- Ensure all statutory dues are paid on time to reduce liability
- Research and appoint qualified tax consultants in each country to effectively handle tax issues;
- Conduct tax audits
- Assist and direct any responses to Tax authority spurious claims so as to build robust policy regionally
- Work with HQ on tax projects; i.e., cost plus etc. regionally
- Ensure compliance to tax regulations in the jurisdiction.
- Identify & collate potential risks in all countries periodically after discussion with different stakeholders
- Develop risk mitigation strategy and establish effective internal control to support overall objective
- Drive the risk mitigation strategy, review and adjust it country-by-country periodically based on analysis of performance and feedback
- Ensure Principal/ agency contracts are updated to reflect findings of any risk-assessment studies
- Strengthen the regional finance system to avoid leakage / oversight/ potential for fraud
- Develop SOPs for different functions to ensure leakages are kept at the minimum
- To ensure adherence of SOPs by frequent spot audit
- Implement uniform accounting policies based on company policies where they exist and develop where they are required
- Tailoring the product for individual locations to replicate AMS functionality
- Setting up parameters to effectively capture all revenue through add-on
- Providing a single point of contact to gather / submit/ resolve all issues related to GFS implementation and ongoing support
- Implement best practice among all agencies in Region.
- LRM
- Ensure homogenous application of local charges to fully exploit the charging landscape
- Lead review of local charges periodically and benchmark against competition
- Build a full and incontrovertible picture of local taxation on all local charges
- Fight for “pass through” status for all Principal collections
- Convert as much as possible local collections to Principal account
- Run Regional office petty cash
- Weekly recon of petty cash to Cash Imprest
- Supervise Regional office audit
- Submit and verify Regional office Payroll monthly
- Submit Regional office bank account top up requests to HQ
- Submit all Regional office management claims (payroll etc.)
- Act as 1st approver for all Regional office STECS claims
- Construct Regional office Admin budgets
- Run Regional office cost controls
- Agents submit LMS ASA (Agency Statement of Account) and other reports requested by Finance HQ on timely, complete and accurate
- Agents remit revenue collections and settle SOA due to Singapore on timely basis
- Review Agents ASA and work closely with HQ Business divisions to ensure that the Revenue, Cost and Tax reported are complete and accurate
- Review Agency Statement of Account (ASA) Balance Reconciliation and disputed items are resolved on timely basis
- Monitor and control Agents in meeting key financial KPIs (ASA balance, AR, AP, Bank)
- Provide guidance and training to Agents Finance on use LMS/ GFS and other PIL systems
- Work closely with PIL HQ divisions and departments to resolve Agents’ LMS/ GFS and other PIL systems reporting issues
- Review monthly reports of debtors and Det/Dem outstanding with the agencies with the focus on monitoring outstanding and ensuring that outstanding are kept to a minimum.
- The role will require directly managing the regional cost and finance team to deliver a robust and consistent approach to cost management. There will also be the requirement to Identify, manage and deliver associated training and continued development of the cost team, including hiring, retain plan and succession planning. By leading and developing a culture of collaboration and team spirit, the team will embrace utilizing their strengths to best effect. Full encouragement of personal accountability and by providing regular feedback, the candidate will form and sustain a high performing team.
- Ensure inter-billing is reconciled regionally each month
- Supervise SOA and financial arrangement with any external Principals (such as Arkas)
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