Your Role
- Establish the Group Financial Policy, Limits and Authority for budgetary control over revenue and expenditure.
- To enforce compliance with Group financial policy
- Regular review and update to the financial policy manual to reflect changes to the Group’s operations
- Monthly review of expenditure
- Direct financial planning exercise such as the annual budgeting and mid-term business plans for submission to Board, shareholders and lenders.
- Submission of quarterly/periodic forecasts on Group’s performance for the year
- Submission of annual budget to Board, shareholders and lenders
- Submission of 6-year business plan to Board and shareholders
- Develop long-term financial forecast for shareholders and lenders
- Direct all transactions processing on account payables and receivables activities including credit control.
- Ensure that payment to suppliers is made promptly and in accordance with the Group Financial Policy
- Ensure that customers are billed and collection of debts are timely
- Enforce proper credit control on customers. Customers with poor payment history are monitored closely
- Direct all loan-related activities including compliance with information and financial covenants
- Secure banking facilities (Loan, BG & FX) for Company’s Operations
- Submission of monthly and quarterly reports to Lenders as required. Comply with information and financial covenants
- Response to queries by Lenders
- Ensure shareholders also comply with information covenant
- Direct all reporting requirements to meet management, board and shareholders as well as to comply with regulatory requirements.
- Submission of monthly performance report to Board and shareholders in a timely manner
- Provide analysis and insight into the Group’s performance for the month and year-to-date
- Review of quarterly performance with the Board and provision of forecast for the year
- Ensure that Estimated Chargeable Income (ECI) and corporate taxation are submitted on time. For ECI, ensure early submission to obtain maximum installment on payment of corporate tax
- Ensure that GST submission is timely and net payments are made on time
- Ensure that annual accounts are audited and reported to shareholders and submitted to ACRA
- Direct treasury and cash operations. Plan cash disbursements in accordance with operational requirements and in compliance with the cash waterfall structure prescribed under the loan agreements.
- Hedging of foreign currency and interest rate exposure
- Planning of cash flow forecast to ensure sufficient cash to meet opex, capex and debt obligations
- Establish the risk framework, direct the operation of risk middle office, implement internal control framework and insurance coverage.
- Develop, implement and review the counterparty risk methodology and enterprise risk management framework
- Establish the risk matrix
- Review and update polices and procedure
- Ensure proper operations of the middle office functions
- Ensure compliance with internal control framework and smooth operations of internal control
- Ensure appropriate insurance coverage such as PDBI (Property Damage & Business Interruption), Public Liability, Terrorism, and any other plant required insurance
- Lead and develop the staff of Finance Division
- Approved annual training plan
- Develop staff with job rotation, projects or back-up support
- To support the President & CEO in the Group’s strategic initiatives.
- Determine the returns on new businesses
- Involve in the execution of the Group’s strategic initiatives (e.g., Group restructuring exercise.)
- To support the Audit Committee in the areas of internal audits.
- To co-ordinate the internal audit program and assignment with the Internal Audit Team for audit of Divisions within the Group
- To advise the Audit Committee on changes to financial reporting standards and implications for the Group’s accounting policies
- To facilitate the calling of a tender for internal audit services
- Member of Hedge committee and Risk committee
- Review and direct the hedging activities of the Group
- Approved hedging policies and procedures
- Make changes to Counterparty Risk policy as empowered by the Board.
- Oversee the provision of efficient and effective Store Management, Purchasing and Admin services
- Provide direction to the Store Management, Purchasing and Admin teams on the development of objectives, work plans and operations
- Direct the reviews of Store Management, Purchasing and Admin policies / procedures / key performance indicators to identify opportunities for further improvement
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Direct the reviews of the various goods and services procured (e.g. equipment, parts/spares, consumables, outsourced services, etc) to ensure that the required quality standards and levels of cost effectiveness are achieved
- Bachelor’s Degree in Finance, Accounting or a related field
- Member of ICPAS
- Minimum 15 years’ experience, including a minimum of 5 years’ experience in senior management position
- Fiscal experience at a managerial level that includes knowledge of financial planning, treasury and capital management and risk management
- Experience in procurement, contract management, or supply chain roles will be advantageous
- Ability to determine financial impact of finance-related decisions and to evaluate cost effectiveness accurately
- Have a keen sense of urgency and is responsive to business’ needs and expectations
- Excellent stakeholder engagement and interpersonal skills, with the ability to collaborate effectively across various divisions and levels of an organization
- Ability to manage effective flow of information
- Display clarity and conciseness in all business matters
- Ability to multi-task and handle a fast-paced work environment
- Must be analytical, proactive and is a team player
- Excellent problem-solving skills
- Excellent verbal and written communication skills
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